POLL for traders who trade the Jack Hershey method(s) in real time with real money

[makosgu]

Quote from Thunderdog:

...In any event, let us accept Spyder's performance numbers as presented. As I wrote in a prior post, Spyder is teaching a few methods of trading, and I'm sure he has a grateful following. But I remain content with my own method. However, show me the kind of performance that Jack is alluding to, and I will drop everything else and follow. But that is not the point of this thread, is it?

Fair enough. Your POLL is for who trades the method(s) etc. If Spyder's prints don't cleanly pass your sniff test, then the more grandiose looking stuff will be even more upsetting. However, you are right, if you are making money, that is fine too. Stick to what you do as I'm sure others will stick to what they do...

Regards,
MAK

 

[Spydertrader]

Quote from Thunderdog:

On the face of it, Spyder's performance is quite impressive,

Actually, it isn't that impressive given what I know now but did not know then. In fact, a number of people (who prefer to lurk and read rather than post) perform at a superior level to those results. Those who have fully automated the process (and do post on ET) also experience superior results to mine from Journal I. Many others (who have only traded for a year or less) currently experience profits greater than I posted nearly 3 years ago. I point this out not as an attempt to convince anyone to follow along, but rather, to show the effect of perspective on the results themselves. One person's amazing, astonishing, impressive (or even delusional results), represent below average performance to another.

To be clear, one should not view my efforts, in this thread and elsewhere with respect to Jack's methods, as an attempt to convince anyone to follow along. I intended simply to correct some significant misinformation which seems to always creep into these discussions. If anyone fails to find value in anything I post, I have no problem with such a viewpoint.

Vienna hit the nail right on the head in an earlier comment to this thread. It is what it is folks, no more; no less. If anyone still needs a confirming signal, one need look no further than the comments which followed as authored by hypostomus.

Good Trading to you all.

- Spydertrader

 

[Steve Tvardek]

To me, and thats only me speaking here, this is one of the best posts I've read on ET since I signed up here. Simple yet very powerful (again, just to me). Thanks Vienna!

Quote from Vienna:

This is about 2 different ways of looking at the trading process.

At one point- it took me quite a few years- you might get to where you really want to understand how price moves and how you can tell in advance where it is most likely to move. Then you might stumble across some people who can read price like a book (and I just KNOW JH is one of them, even though I learned it from another person), look at the market again and again and again, and, if you are lucky, suddenly you have an "Aha!" experience. That is all that counts- this "Aha" experience. Suddenly, you see a pattern in the way the market moves and you see that it can not do otherwise.. it is like these images that flip and reveal another image. And that stage is LIGHT YEARS ahead from the people that say "you can make money with 50% wins if you use money management"(a la Van Tharp) or people who try to use statistical edges arrived at by backtesting (the second way). It does not mean yet that you consistently make money, but you are treading on the right path at last.

The problem is that until you actually "see" it, you have to fly blind on faith, and it is completely normal to strongly believe that this other way does not exist.. after all, you have all the years of "experience"proving it doesn't..... the funny thing seems that some people spend hours and hours posting as to why it can't be true, but at the same time insist that they will not spend the time to see if a method works unless shown verifiable proof...

 

[kiwi_trader]

So Steve, would you recommend that all newbies to ET should try Jack's methods? It seems that's what you're saying but I'm not sure.

I'm also interested to know if you believe that he achieves his earlier stated profit goals? And if others following him will also do so?

 

[Steve Tvardek]

I'm not making any recommendations for people to do anything. I know some people will naturally find their way to things if they are curious (like I did). Like I said before in another thread I think, I started off spending a full weekend reading some stuff and that led to more reading as things started to make more sense and before I knew it I was doing all the work and drills and seeing exactly what I should see. But....the method requires a GREAT deal of work and, for at least 1 1/2 months, I felt a bit lost while at the same time pretty comfortable as I could see myself being able to fully comprehend things as more time passed. I am not a get rich quick type guy, never have been so I didnt worry myself with the work involved. As long as I saw value and progress at every stage, I felt no need to stop and question things. I took the same approach in equities, I was always "mr slow and steady" as the guys in the office used to say.

But to be honest, I dont recommend it unless you are the type of person that would be willing to spend at least 2-3 full days (at least 8 hrs a day) of reading on complete blind faith and possibly getting nothing out of it. If you need concrete #'s or backtests or whatever else as proof, I do not recommend reading the thread. Chances are, this type of person wont find much value. But to each his own, thats just what I have done.

Quote from kiwi_trader:

So Steve, would you recommend that all newbies to ET should try Jack's methods? It seems that's what you're saying but I'm not sure.

I'm also interested to know if you believe that he achieves his earlier stated profit goals? And if others following him will also do so?

 

[mephistoII]

Quote from gunder12:

You've said far worse Jack so don't be a hypocrite, anyway Jack I have a question... in the opening of your Building minds for building wealth, you inform the reader that he/she is reading it in their present state of existence? What the feck is the point of that statement? Is it possible to be reading it in a present state of non existence? or a past state of existence? Why insert such obvious wankfest statements? It's pseudo intellectualism and mental masturbation at it's finest, it sounds lofty and intimidating but really its all ego and no substance. You need to take occam's razor to that intellectual beard you've been cultivating because it wont fool anyone that bothers to investigate it, and if it becomes habitual your true self will be lost to this fractured part of the psyche forever. I mean come on Jack, you're not sitting around the dinner table with your wife talking like that are you? you know how I know that Jack? She hasn't shot you yet! So why inflict it upon us? You obviously have a lot to contribute here but if you place ego and appearance over clarity and brevity nobody will bother with the message.

Wow - how lame is this shit? This was most definitely copied and pasted from an earlier post in another thread from the SPM Master. I know this quite assuredly as it struck me as very witty at the time (although it didn't deter my Jackalonian studies one friggin iota), and I started to use the 'mental masturbation' phrase with my internet trading buddy. I will not bother to search it out - I could care less. Besides, this horse is so dead that the buzzards aren't even interested anymore.

It's already been aptly stated here - who the hell owes anyone any kind of proof before the latter devote their precious time to dig into some possibly rewarding excursions within a new paradigm. It's all so sad, one can only chuckle, and go about his business of amazing himself at the trading terminal.

- ( Jackslammers)- Don't let anyone plug ya from behind - its quite treacherous out here ...

 

[LivermoresGhost]

Quote from jack hershey:


There is a definite difference between the set of fear, anxiety and anger and support, comfort and confidence as expressed by the two sets of people who sustain an interest in the "talk" part of this discussion and the people who do the "work" part of the discussion.

LOL, you can put Thunderbore in the former.

 

[marketsurfer]

reading this thread, i have come across such words as "belief" and "faith". these words have no place in a proper discussion on trading. is jack's method testable, can the scientific method be properly applied to it, and if so what are the results of said tests? bottom line, thats all that matters.

platitudes, unsubstaniated, untestable claims, and folk tales mean nothing in the cold, hard world of markets.

regards, surf

 

[bighog]

Optiontrader says Jack is a genius. funny

This is almost as much fun as looking for WMD's in a desert. ..



marketsurfer is once again showing he is master of his fantasy world. Marketsurfer of all nerds you would think a member of the flock.

I am always amazed the lengths some will set aside "intellectual reality" to follow anything in search for riches. Is it any wonder con men have always been around and always will be?

 

[Vienna]

When I spoke of the need to "fly on blind faith" I was not referring to faith in a guru (or JH or whoever), but to faith in one's own ability to actually discover the way markets move and to invest the patience required to see for oneself if a certain person has somethng to say or not.
There seem to be true believers in the impossibility that such a path even exists in this thread