Just my opinion ... I don't want to step on anybody's toes:
Until I figured out how this method works profitably, I'd stick as close to its specifics as they were given by Jack Hershey and / or spydertrader. Only after I were consistently profitable, I might check another trading vehicle, another time frame, or I'd modify its principles.
I don't recall either Jack Hershey or spydertrader trading, or describing, the futures method on something else than the 5 minute ES, during the regular trading hours. Sure, other time frames were mentioned, but only as possible helpers for trading the 5 minute chart.
Spydertrader's approach doesn't overlap perfectly Jack Hershey's approach, neither on elite trader threads, nor on traders laboratory thread.
Degapping wasn't part of the method from the beginning. At first, Jack was advising starting after the first 3 bars of the day. Degapping was introduced sometimes later to align, on the price pane, the opening of the day with the closing of the previous day, on the 5 minute chart. This made sense, because the after hours market is driven by different forces than the regular hours market. Much later, without being fully developed, the idea of degapping every 5 minute bar was suggested, but without much emphasis.
The 2011 thread, referenced a few posts above in this thread, seems to discuss only day to day degapping of the 5 minute chart. 5 days of 81 bars each equal 405 bars for the week.
Bottom line, everybody should trade whatever makes sense to them, as close or as far from the method's principles they like, but, again, if you don't master this method on the 5 minute ES during the regular hours, you make it more difficult for yourself to try to figure it out on another trading framework, in my opinion.
I think it's great that people still discuss this method, and that it didn't get lost once Jack Hershey passed on, and spydertrader left.
Until I figured out how this method works profitably, I'd stick as close to its specifics as they were given by Jack Hershey and / or spydertrader. Only after I were consistently profitable, I might check another trading vehicle, another time frame, or I'd modify its principles.
I don't recall either Jack Hershey or spydertrader trading, or describing, the futures method on something else than the 5 minute ES, during the regular trading hours. Sure, other time frames were mentioned, but only as possible helpers for trading the 5 minute chart.
Spydertrader's approach doesn't overlap perfectly Jack Hershey's approach, neither on elite trader threads, nor on traders laboratory thread.
Degapping wasn't part of the method from the beginning. At first, Jack was advising starting after the first 3 bars of the day. Degapping was introduced sometimes later to align, on the price pane, the opening of the day with the closing of the previous day, on the 5 minute chart. This made sense, because the after hours market is driven by different forces than the regular hours market. Much later, without being fully developed, the idea of degapping every 5 minute bar was suggested, but without much emphasis.
The 2011 thread, referenced a few posts above in this thread, seems to discuss only day to day degapping of the 5 minute chart. 5 days of 81 bars each equal 405 bars for the week.
Bottom line, everybody should trade whatever makes sense to them, as close or as far from the method's principles they like, but, again, if you don't master this method on the 5 minute ES during the regular hours, you make it more difficult for yourself to try to figure it out on another trading framework, in my opinion.
I think it's great that people still discuss this method, and that it didn't get lost once Jack Hershey passed on, and spydertrader left.
