Jack Hershey's Drill number 1

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Thank you Oddi and Nkhoi for reviving a Jack thread. ET has been so enervating lately. But don't forget NQ. It exhibits some spectacular jackcesses, as well as many inexplicable abjackt failures. Now if only I could figure out a priori which was going to be which.....
 
Quote from dkm:

Oddi

I am truly glad for you. As Jack knows , I spent several years patiently getting to grips with his methods for equities and ES. I very much regret that I was unable to achieve any form of consistent profitability. It certainly wasn't for the lack of trying :) - I do not wish to imply that the methods cannot work - just that I, personally, was unable to achieve any consistency. If you or anyone would be prepared to enlighten me on a realtime basis then I would be delighted.
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Hi dkm,

If you would like, you can post some charts of trades that you would make and we can go through them together.

The biggest difficulty with this method is the wash. When you enter, you must watch carefully for flaws. If a flaw occurs( such as falling volume on a prorata basis), then you get on out of there. There will be plenty of other trains that will come by. Be demanding of the trades that you make. If they do not perform EXACTLY as you planned, then f*ck em and forget em.

The methods work on any stock that you care to calculate dry up on. The indicator sequences are effective on any trading instrument, so any chart you pick at your leisure will do nicely.

Best Regards
Oddi
 
Quote from nkhoi:

To understand Jack, maybe one needs to have multiple number of skills first. I think you have a rich background of diff. disciplines, and that somehow allows you to grasp his concept without bogging down in his verbiage, explaining his method from your point of view maybe is what doctor ordered. How about a short (hopefully) journal to show the iceberg, etc... preferably in YM or ES. But you take your pick.
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I have found that I lack the dicipline to post a journal, but I will use the socratic method to teach. I will boldly say that I understand Hershey completely, so if you have questions on a chart, I will answer them.

Best Regards
Oddi
 
Quote from hypostomus:

Thank you Oddi and Nkhoi for reviving a Jack thread. ET has been so enervating lately. But don't forget NQ. It exhibits some spectacular jackcesses, as well as many inexplicable abjackt failures. Now if only I could figure out a priori which was going to be which.....
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Hypo,

I remember a lengthy discussion with you on the limits of backtesting. My offer stands with you as well. I will take any hypothetical or actual trade that you wish to make using Jack's methods and break it down.

Believe it or not, Jack is in no way contradictory.

I am at your service:)

Best Regards
Oddi
 
Citizen Oddiduro, I too am fond of the Socratic (note the capitalization) method. I have a few simple questions about the Hershey SCT method, which is anything but Socratic. First off, I draw channels continuously, and using my own methods, often trade them, especially FTTs, which I find to be most useful. However, I am less confident about trading reversals at the channel boundaries. Do you reverse at channel boundaries with no other criteria than price touching the channel? I trust that no youth of Athens likely to be corrupted are reading this, as I have had some troubles recently with the State. Also, I warn you, most of my questions are likely to be disingenuous, but you know that.
 
Quote from oddiduro:

I have found that I lack the discipline to post a journal, but I will use the socratic method to teach. I will boldly say that I understand Hershey completely, so if you have questions on a chart, I will answer them.

Best Regards
Oddi
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look like I can't wring a journal out of you, how about what kind of skills needed in order to understand him, certainly not back testing for sure.
 
Quote from kofi:

look like I can't wring a journal out of you, how about what kind of skills needed in order to understand him, certainly not back testing for sure.
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Hi nkhoi,

Some weeks back, Jack himself promised us results based on backtesting. He mentioned 4 different of his "methods" to be tested. Only one test was actually being "worked on". :)

Lets all be reassured by Oddi's statement about "fitness as advertised". :D
As to Oddi's inflated ego as apparent from his referral to the "Socratic" method, let's all settle instead for the "Jack" method as being more appropriate in Oddi's case.
 
Quote from Socrates:

Citizen Oddiduro, I too am fond of the Socratic (note the capitalization) method. I have a few simple questions about the Hershey SCT method, which is anything but Socratic. First off, I draw channels continuously, and using my own methods, often trade them, especially FTTs, which I find to be most useful. However, I am less confident about trading reversals at the channel boundaries. Do you reverse at channel boundaries with no other criteria than price touching the channel? I trust that no youth of Athens likely to be corrupted are reading this, as I have had some troubles recently with the State. Also, I warn you, most of my questions are likely to be disingenuous, but you know that.
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Indeed I do:D

If price touches the channel, increase the resolution of your monitoring. If the volume pattern is routine for the trend, it is possible to hold through the traverse to the right side of the channel. If volume is showing change, respond according to your tolerance for risk.

Best Regards
Oddi
 
Quote from nkhoi:

look like I can't wring a journal out of you, how about what kind of skills needed in order to understand him, certainly not back testing for sure.
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I found that WDGann, Connie Brown, and John Murphy all helped in a solid understanding of the Hershey method.

Best Regards
Oddi
 
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