Poll: Hershey vs. Covel

[On.Target]

Quote from KBaines:

Have either of these guys ever proven they have been successful with real money and for a period of more than just a few months? Hershey tipped his hand, at least to me, long ago he doesn't trade real money. Back in the days he made his first appearance on the old usenet boards, misc.futures I believe it was. Anyway, one day there he got real confused because the volume dried up on a Thursday on what he thought was the front month S&P contract. The guy had not a clue that it was the quarterly rollover Thursday.

Any trader, new or old shouldn't be concerned whether Joe Friggin Blow can make a dime off a method or not. The main concern should be whether the method makes some bit of sense, can you comprehend the process and more importantly CAN I MAKE MONEY WITH IT! If it doesn't fit, look somewhere friggin else.

The only way you will know that is to test it. I could give a rats ass what Jack did looooong ago and far away on the old boards. I got busted in college for cutting hippy's hair on the beach without a license does that make me a career criminal. Christ, some of you on this board need an enima cause the shit is reaching your brain.

I don't trade his stuff because it's too complicated to trade intraday for me. Do I wander around the internet bashing it, hell know cause I know it works, just doesn't work for me.

 

[ChaosNSX]

To $h@% chat we go...

 

[logic_man]

Quote from Zr1Trader:

Based on character I vote Hershey because Covel seems like a bitter man.

I've never seen someone like Hershey take so much abuse while remaining civil.

Seems to me like Hershey stays civil because he is too out to lunch to realize the abuse is all true. He should change his name to "Walter Mitty".

http://en.wikipedia.org/wiki/Walter_Mitty

 

[On.Target]

Quote from logic_man:

Seems to me like Hershey stays civil because he is too out to lunch to realize the abuse is all true.

When was the last time you had a one-on-one conversation with him?

 

[logic_man]

Quote from On.Target:

Defensive?

No, I'm one of those that are smart enough to check it out, understand it and then decided based on its merits that what I was already doing was making me happy and profitable.

I'm not ignorant enough to assume something is or isn't valid without checking it out first.

To say you have seen similar stuff is so far from reality its silly. To call it arcane is ridiculous. To say he isn't profitable out of one side of your mouth and then say you have never checked it out, out of the other, is typical internet trash talk.

I personally know a few traders that use his stuff and are profitable. I know one trader that uses his stuff and is extremely profitable. I can only guess that if he can instruct a few diligent individuals to be profitable he should currently be able to follow his own rules to make himself some money with it.

If you chose not to learn or understand what he does . . . great. That is your perogitive. Hopefully you are a successful trader on your own. But coming into an open forum stating you think what he does is crap with no personal evidence to back it up is hypocritical.

He doesn't have to prove anything, you have to prove to yourself it doesn't work. I proved it to myself that it worked but I didn't like it so I don't trade it. PERIOD! How I trade is completely different from his method and I persoanlly think it is easier but I don't trash his way just because its different.

It isn't just that Hershey claims his methods are "profitable". No, I, FWIW, would have no problem with that sort of claim because I'm well aware of the fact that there are profitable trading methods out there. It's that he has to say things like, "I get 3X the ATR every day" or "I never take a loss" or "I was making so many good trades the SEC came after me for insider trading" or "I made so much money I rented the King of Sweden's yacht" and all manner of BS of that sort. Those claims are simply ludicrous beyond belief and it's not because I'm a victim of "the CW" that I say so, but because of common sense and the laws of probability and compounding gains.

 

[logic_man]

Quote from On.Target:

When was the last time you had a one-on-one conversation with him?

I actually just had a back and forth with him this past weekend. I asked him why, if his methodology is so utterly fantastic, he wasn't one of those spoken about in hushed tones in the trading world because he was so tremendously wealthy. The way the guy talks about his own method, he should be atop the Forbes 400. Don't you think it's a bit much?

 

[Lucrum]

Quote from logic_man:

Seems to me like Hershey stays civil because he is too out to lunch to realize the abuse is all true.

That and self delusion is what I was thinking as well.

 

[On.Target]

Quote from logic_man:

It isn't just that Hershey claims his methods are "profitable". No, I, FWIW, would have no problem with that sort of claim because I'm well aware of the fact that there are profitable trading methods out there. It's that he has to say things like, "I get 3X the ATR every day" or "I never take a loss" or "I was making so many good trades the SEC came after me for insider trading" or "I made so much money I rented the King of Sweden's yacht" and all manner of BS of that sort. Those claims are simply ludicrous beyond belief and it's not because I'm a victim of "the CW" that I say so, but because of common sense and the laws of probability and compounding gains.

I agree with your points.

Regardless of the BS, Jack's stuff works. Many a brilliant mind borderlines on insanity.

That being said I wouldn't recommend his stuff to a relative.

 

[On.Target]

Quote from logic_man:

I actually just had a back and forth with him this past weekend. I asked him why, if his methodology is so utterly fantastic, he wasn't one of those spoken about in hushed tones in the trading world because he was so tremendously wealthy. The way the guy talks about his own method, he should be atop the Forbes 400. Don't you think it's a bit much?

If you have to ask that question you haven't figured "it" out yet.

I had dinner with a fund manager last week with $350M under his care and we talked about that very subject. He's 46, his fund is private and has averaged 60% a year for the last 12 years. He has an impressive list of clients that will swear up and down that he doesn't exist. He only works 3 days a week. He said he could make way more buy why?

He who dies with the most toys is dead.

 

[Lucrum]

Quote from On.Target:

If you have to ask that question you haven't figured "it" out yet.

I had dinner with a fund manager last week with $350M under his care and we talked about that very subject. He's 46, his fund is private and has averaged 60% a year for the last 12 years. He has an impressive list of clients that will swear up and down that he doesn't exist. He only works 3 days a week. He said he could make way more buy why?

He who dies with the most toys is dead.

Huh?