Objections to SCT

[virgin]

Quote from slacker:

Jack does push buttons; the same ones used by MarketMonk, Fxxxx Sxxxx, et. al, et. al, and he is very, very good at it. With 10 years or more daily practice he is the best 'forum fake' there has ever been.

But why are people drawn to his posts?

The answer is that the decision matrix for a beginning trader reading the Hershey 'body of posts' looks much the same for the classic Pascal's Wager argument:

If a trader can reach unlimited wealth, able to turn $10,000 into $15M within a year, 3 * H-L, 'always in the market' yada, yada, yada, no doubt he will be rewarded with a fantastic change in life style = he wins;

If the Hershey trader does not take the Hershey trading opportunity = misery (missed chance of a lifetime) Always wonders if he could have been successful.

However, if the Hershey trader tries but cannot succeed = status quo (no change in life style, regret but less than the misery of missing the chance of a lifetime)

In a population of sufficient size (EliteTrader) there will be people waiting to pay attention for a while to see if they can just possibly succeed. Hershey cannot survive on his own blog or individual site. He needs a constant inflow of newbees and constant turmoil to attract attention.

What is interesting to me is the number of people who fail and hold on to it long after the claims have proved to be untrue.... And, the number of experienced people who go along with the fraud even knowing that the claims are untrue.

If you remove the lies, outrageous claims, and posts that in Sypder's words everyone knows such as thing cannot be possible, then you have a standard channel trading system. Can it be profitable? Yes, in wide range days when losses are quickly cut.

However, once Hershey stops posting his outrageous claims, misrepresentations, lies, and stirring the pot the interest will be very similar to any other trading system thread. Does it work, yeah, kinda, depending on the skill of the trader and the market volatility. Profits and losses will be similar to other channel trading systems, not more.

For Hershey to get the attention he seeks it is essential to never, ever post real results. Results would make Hershey's Wager a bad or break even bet with many alternatives.

EXACTLY !

Feeding the greed, promises of unlimited wealth , very cheap tactics to seduce newbies, he is indeed the biggest forum FAKER, POLLUTER I ever met.

Jack,

One would think that at your age you had some wisdom to share........

 

[Harold Balls]

I'm not defending Jack one bit, if he chooses to take this much abuse thats his perogative.

What I AM doing is laughing my ass off at you, the LOSER who has spent 10 years keeping tabs on Jack!!

Quote from Trader666:

No moron, I haven't been "argueing" with Jack for 10 years, he's been playing pied piper for 10 years. But you're ignorant so I wouldn't expect you to pick that up.

Where does that place you on the top loser list of all time, as someone who's defending such a person?

 

[Spydertrader]

Quote from ^^^^^^:

Now answer my questions. Nah bet you wont.

Allow me to spell it out for you since you appear to have comprehension issues. I linked to this P & L. You then claimed the following ...

Quote from ^^^^^^:

You forgot to mention that in teaching his student he was using the IB demo account which at that time was 15 minutes delayed. He was called out on it and has never recovered from that fiasco. Hershey muttered something or other about practicing doing executions.

I asked (numerous times) for you to clarify your remarks - specifically to post your proof that the P & L linked above was sued with a papertrading account. Instead of answering, you linked to a discussion which discussed this other P & L.

I'll ask the question again, since you seem to consistently find a way not to answer.

Do you have evidence that the P & L I linked to above was used in a Demo Account? Yes or No? If yes, post it, if no, say so.

It's really that easy.

- Spydertrader

 

[Spydertrader]

Quote from trendo:

Used to be? I didn't know the scientific consensus changed. Maybe I was absent that day.

Whoops! Looks like I didn't proof read that one before sending it to the board. Thanks for pointing it out for me.

- Spydertrader

 

[Joe Doaks]

The boss picked up a Mk IV LBFM on Manhattan Beach after breakfast this morning, so he's out for the duration. Which gives me an opportunity to post:

Objection #17: This is a variation on my perennial perineal bitch that the eyes are so drawn to channels that you don't see the meaning of the underlying price action. This specific objection is similar, that you don't notice that those FTTs, BOs and FBOs tend to occur at single or multiple resistance: round numbers, VWAP, prior highs/lows, fib retraces, MAs, today's and yesterday's O/H/L/C, etc. Now would you rather be lazing around while you wait for price to get to where you KNOW it's at least going to pause, or would you rather be GUESSING what the relationship of price is going to be to that imaginary line you drew?

 

[Trader666]

Sure you're defending Jack, by attempting to change the subject... typical misdirection tactic. Do you do it because you know how it feels to have your phoney trading claims questioned?

I'm a loser? This from the guy who can't trade in real life so he logs onto the internet and pretends he can. ROTFLMAO!!!

Quote from Harold Balls:

I'm not defending Jack one bit, if he chooses to take this much abuse thats his perogative.

What I AM doing is laughing my ass off at you, the LOSER who has spent 10 years keeping tabs on Jack!!

 

[Harold Balls]

Are you are you NOT still here ARGUEING??? After 10 yrs of keeping tabs, you're still here fighting the good fight...haha, what a LOSER

Quote from Trader666:

Sure you're defending Jack, by attempting to change the subject... typical misdirection tactic. Do you do it because you know how it feels to have your phoney trading claims questioned?

I'm a loser? This from the guy who can't trade in real life so he logs onto the internet and pretends he can. ROTFLMAO!!!

 

[Harold Balls]

Yes, see above. LOL

Quote from Trader666:



I'm a loser?

 

[Joe Doaks]

I hesitate to post this, because it is IMO the principal objection. If Hypo already posted it, I apologize, I don't read his shit because he's a CFI.

Objection #18. Think about it. At the trendline, you don't know if it is going to BO or FBO (anti-Jackers, excuse my use of Jackese, but I have to keep it simple so the Jackers can understand), so you HAVE to wait for the move to be clear so you can reverse or take your finger off the keyboard. When it pops, it's going to pop by 3+ ticks. Same for an FTT, ya gotta wait for a "significant" pop before you take the reverse.

So here's my objection. If in two out of three formations you're going to lose a lot of the move anyway, why not instead of this channel bullshit, just trade "significant" reverses. Now admittedly, the definition and detection of "significant" is a bitch to get right, but that's why the boss hired me.

 

[Thunderdog]

Quote from Spydertrader:

...I asked (numerous times) for you to clarify your remarks - specifically to post your proof...Instead of answering, you linked to a discussion which discussed...

...I'll ask the question again, since you seem to consistently find a way not to answer...

Do you have evidence that ...? Yes or No? If yes, post it, if no, say so.

It's really that easy.

I feel your pain, Spyder. It can be quite frustrating when someone refuses to definitively prove an allegation.