You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an alternative browser.
You should upgrade or use an alternative browser.
Jack Hershey's Methodologies (SCT & PVT)-Good Bad or Ugly
- Thread starter sappjason
- Start date
Nkhoi,Quote from nkhoi:
-then you have verified it to yourself that the method didn't work, which is absoluterly fine with me.
-you are not the first one wonder about channels drawing
and much later...
I trade completely through patterns and I know which patterns are more profitable then others.
Most people don't realize breakouts are the least profitable strategy unless its one type of pattern of breakout (consolidation upwards ).
Comparing my profitable methods VS jack hershey's methods.
Profitable methods usually look alike,
You can take lescors automated buying strategy, and i can pretty sure guarantee if its a profitrable strategy, if I was buying that timeframe, I'd probably be buying near his buy price.
Problem with the Hersheys methods-
1) He takes HH/HL and then mashes it up with a hundred of other things and gives all of them different useless names like failure to traverse, , all it does is confuse and slow down the learning of the trader.
2) Puts nothing in context, I see Mr-black trading every shit that comes across his path.
3) Its absolutely detrimental to learn price action by drawing your own trendlines , You are not thinking of what the market is doing (is there fear or is there buy greed?) , you are making up your own lines which is WRONG
You are forcing your ideas onto the markets.
Good luck there.
Won't happen.
4) No need to draw lines,
just have a hl/ll/lh/HH/ indicator,
buy on pullbacks to some moving average
5) Most of all, keep your chart CLEAN so you can recognize patterns.
PATTERNS is the key to success in trading.
6) example of patterning
a U pattern is happening ,
if you seen this pattern, and you know the big picture, buy it before it completes, anywhere before it completess, its a SAFE buy
Doesn't matter what resistance #1100 spy, if you recognize the pattern, buy the pattern till it finishes.
If a U turns into a half assed L_
then you stop out. Pretty simple, shit don't look like anything you seen before right?
stop out.
Once the pattern completes, then its the wrong time to enter.
Consequently, thats when everybody else enters and loses.
thats all.
Great post coolweb.
Jason
Jason
Quote from coolweb:
Nkhoi,
I trade completely through patterns and I know which patterns are more profitable then others.
Most people don't realize breakouts are the least profitable strategy unless its one type of pattern of breakout (consolidation upwards ).
Comparing my profitable methods VS jack hershey's methods.
Profitable methods usually look alike,
You can take lescors automated buying strategy, and i can pretty sure guarantee if its a profitrable strategy, if I was buying that timeframe, I'd probably be buying near his buy price.
Problem with the Hersheys methods-
1) He takes HH/HL and then mashes it up with a hundred of other things and gives all of them different useless names like failure to traverse, , all it does is confuse and slow down the learning of the trader.
2) Puts nothing in context, I see Mr-black trading every shit that comes across his path.
3) Its absolutely detrimental to learn price action by drawing your own trendlines , You are not thinking of what the market is doing (is there fear or is there buy greed?) , you are making up your own lines which is WRONG
You are forcing your ideas onto the markets.
Good luck there.
Won't happen.
4) No need to draw lines,
just have a hl/ll/lh/HH/ indicator,
buy on pullbacks to some moving average
5) Most of all, keep your chart CLEAN so you can recognize patterns.
PATTERNS is the key to success in trading.
6) example of patterning
a U pattern is happening ,
if you seen this pattern, and you know the big picture, buy it before it completes, anywhere before it completess, its a SAFE buy
Doesn't matter what resistance #1100 spy, if you recognize the pattern, buy the pattern till it finishes.
If a U turns into a half assed L_
then you stop out. Pretty simple, shit don't look like anything you seen before right?
stop out.
Once the pattern completes, then its the wrong time to enter.
Consequently, thats when everybody else enters and loses.
thats all.
Quote from New2thegame:
Jack,
Would you be so kind as to allow me to fly out and watch you trade for an hour or two? I'd be happy to buy dinner for your trouble.
You've made it clear there are no secrets in trading, so I hope I might convince you to allow me the opportunity.
If I see you do what you say you can do, I will be your biggest advocate. That's a promise.
This is a serious request by the way.
thanks for your consideration.
Thank you for your offer.
If we have advocates , they are people doing two things: passingforward what they learned and helping solve local problems by contributing time and money (both are called "walking the walk").
Right now all the seats are empty for various reasons which are being handled by the best of the best.
You sound like you are from Beijing, etc... Which reminds me fresh ground horseradish can't be wolfed down as a condiment in our southwestern Style restaurants.
We always host when visitors are in town (except for the MeetUps, I only bought the drinks).
People say it is fun to watch. My fav part is the narration and all of us hitting T together.
When we do have people here, they are experienced and the trading is on a level wherby I narrate far enough ahead that "steer and focus" is always in effect. What this means is that I do not ask Q's and I speak mostly about where their eyes are to be moment after moment. I use vertical screens (data is turned 90 degrees from normal screen processing) and they are large enough for everyone to see my annotating. Each person has a laptop that is fully equipped and servicable; you do not.
My mice are spread out so they (the group in the room) know the mouse's purpose and it helps them see when I am going to be ready to hit T since it is left handed mousemanship.
Unfortunatley, the related videos do not feature me; they feature only the market and the trading. When I did sales, I was in the videos and so were the clients. But that was only for training corporations to get up to capacity to handle our completed sales input effectively. Say hooray for Liz; she got the cash bonuses for this region this month.
From the above, I think you can see that what we do doesn't have an advocacy component and there is a quid pro quo instead.
Thanks for your offer.
Quote from ramora:
Jack,
In a recent post you suggested that the way volume is charted on the typical software application could be improved.
How could you draw a better representation of volume?
Have you seen any graphic representation of volume that you liked?
Thank you for your postings.
I feel that anchoring volume to market pace is best.
To show the PRV and the actual volume could run from the pace point like OBV does. (this is read off OTR charts usually by those carving the turns).
With this in hand, then annotating volume for the nesting fractals becomes easier and simpler.
the non stationary window that displays the turn region (from first to last chance) is skewed to the last chance. This means gradually, fractal by faster fractal, the first chance of the window opens up.
As the dependency of partial fills gorws (say by each order of magnitude), it becomes more and more inportant to not leave ticks on the table. weaving partial fills in becomes a critical aspect for each market pace.
In another thread on scalping ticks, I put up an otr short pattern to illustrate how using the mean/mode of volatility for each given pace made scalping most successful given stops and targets being equal (the OP thesis). It actually took the necessity for stops off the table when the pattern was used (by dom, non dom reasoning).
Since volume leads price and the "window" is skewed, a method of harmonically addressing partial fill reversals is important. I know it all comes down to ATS operations but, a visual used to grwo mind differentiation makes it possible to follow CPM's when advocating ATS building tasks even beyond the observable.
Tradingbug gave two heads up locations that are really in this same orientation.
Quote from coolweb:
I'm just wondering how the dood managed to hypontize all these people who never posts real time trades at least once.
Dood can be one of those money preachers, he'll make a lot more money.
"PRAY TO THE MONEY GOD to make more money!"
jack hershey, you should change professions, your talent of hypnosis can be utilized effectively elsewhere. not shittin you, those money preachers made at least 100+ million per year last I heard.
Count backwards from 7.......
Quote from coolweb:
Nkhoi,
I trade completely through patterns and I know which patterns are more profitable then others.
Most people don't realize breakouts are the least profitable strategy unless its one type of pattern of breakout (consolidation upwards ).
Comparing my profitable methods VS jack hershey's methods.
Profitable methods usually look alike,
You can take lescors automated buying strategy, and i can pretty sure guarantee if its a profitrable strategy, if I was buying that timeframe, I'd probably be buying near his buy price.
Problem with the Hersheys methods-
1) He takes HH/HL and then mashes it up with a hundred of other things and gives all of them different useless names like failure to traverse, , all it does is confuse and slow down the learning of the trader.
2) Puts nothing in context, I see Mr-black trading every shit that comes across his path.
3) Its absolutely detrimental to learn price action by drawing your own trendlines , You are not thinking of what the market is doing (is there fear or is there buy greed?) , you are making up your own lines which is WRONG
You are forcing your ideas onto the markets.
Good luck there.
Won't happen.
4) No need to draw lines,
just have a hl/ll/lh/HH/ indicator,
buy on pullbacks to some moving average
5) Most of all, keep your chart CLEAN so you can recognize patterns.
PATTERNS is the key to success in trading.
6) example of patterning
a U pattern is happening ,
if you seen this pattern, and you know the big picture, buy it before it completes, anywhere before it completess, its a SAFE buy
Doesn't matter what resistance #1100 spy, if you recognize the pattern, buy the pattern till it finishes.
If a U turns into a half assed L_
then you stop out. Pretty simple, shit don't look like anything you seen before right?
stop out.
Once the pattern completes, then its the wrong time to enter.
Consequently, thats when everybody else enters and loses.
thats all.
This narration above is worth reading.
The "U" is easily recognizable.
The tops are point 2 and FTT. The bottom is pt 3. He is trading, roughly, on GG1972's fractal. Consult his description (GG's) of the three price moves.
cool weeb sidelines on the FTT after entering after point 3. The percentage of the time he is in the market is relativly small. This is commonly known as trading retraces if you are a googler.
Mr_Black has, often, given the two fractal context of his trades. Coolweeb may have missed this extra degree of "complication" ( a coolweeb term).
So what is the ticket to shift coolweeb into the market to make money all the time? Do what was suggested with GG1972's approach is the quick and dirty fix. GG's take increased by a factor of over 8. Just follow the three panel attachment to take U trading to "U all" trading.
What is the "L" coolweeb screws up occasionally. Well surprise, surprise it is the FTT going to BO on the RTL and then the trade going dominant from nondominant when coolweeb got in at point 3.
so what is the story on "U" and "L" as his trades. How does anyone know 12 seconds into either one how the trade will turn out?
the answer has been presented many times under the Google heading: HOW TO KNOW THE DIFFERENCE BETWEEN A RETRACE AND A REVERSAL......
How does a beginner know in 12 seconds whther it's a U eee or an L eeee? He knows by looking it up.
I posted the joke of the day a while back. Now you know the answer to the joke too.
How do people get to the place where they can't trade an L by getting on the right side of the market and they get on, as coolweeb does, the wrong side of the market? See how Mr_Black does it for one thing.
A person has to know the difference between a retrace and a reversal at the least. That is the starting point to avoid taking a trade and watching it make money and then right back to the entry, all of which is a waste of time. (See coolweeb L failure trade)
Let jason do the followup to teach collweeb the difference between a retrace "U eee") and a reversal (an "L eeee").
for SCT traders: This guy doesn't know how to detect dominance. He doesn't know a retrace starts on point 2 and a reversal starts on the FTT.
Further look at how GG1972's strategy that recognized trends were three part moves could easily be converted into an SCTstrategy by trading all the moves he recognized and just adding the dominance aspect.
Final SCT note. Both these people (GG and collweeb demonstrate how costly it is to not know what volume means to a trader. It is the only way out of beginner trading levels.