For those that want to learn from Jack/Grob on this thread, do yourself an enormous favor and join the MSN Group called JackHersheyStrategies
http://groups.msn.com/JackHersheysStrategies/
In particular there is an excellent Glossary there already, complete with an acronym list as well as simple descriptions of terms such as Rocket, Iceberg, etc., and a "PreFlight Check" for getting ready for the day. They may not make total sense just now, but as you figure out the bits and pieces, they will be handy. Save them to your harddrive for future reference.
As to determination of the trend, ie, how to draw Points 1, 2 and 3 of a Channel, you must read this thread where JH walks you through the exact process, from the pre-open, through synch, midday, and end of day: http://www.elitetrader.com/vb/showt...\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\&pagenumber=1
I too have found times when I couldn't "get" what JH was writing, but a picture (such as the graphs in the Determining a Trend link above), goes quite a ways. What I've discovered is that when I was "ready" to absorb what JH had to offer, the difficulty in "understanding" him seemed to dissolve. The key is to be emotionally clear, not all fraught or anxious or defensive about your progress or knowledge. Once you get into the "doing" part, you might discover the methods themselves quite powerful, and, after all is said and done, not at all that difficult to grasp.
Good luck to all of you who are "new" to JH's method. As background, I first stumbled upon JH over at Clearstation in July 2000, on the WAG (Walgren's board), when I was swing trading stocks. I now daytrade futures. In addition to various other tools, I also use channels and volume extensively, but having come to them from a somewhat different path. I have found JH's ideas, however "oddly" stated at times, to be sound and to withstand the test of time.
Finally, a few words on the "detractors". In the five years I've seen his posts, I've yet to see him "ask" for anything other than your attention, seeing as people have generally asked him to expound on his views. I don't understand why those that don't "get" JH keep riding the bus to whatever thread he posts to. Once done with something, best to move on to what does interest you. I also don't understand the do-gooders who feel the need to warn people off. If JH were trolling for money, I might feel differently, but that's not the case.
Time spent learning is a very individual process. Some learn from "anything", investing hours of "free" time in such pursuits, however futile they may appear to others; some must have their hands held continuously, barely making a step without seeking reassurance; and some pretend to learn, marking time rather than using it to their advancement. The point is, we make our own lessons, and must make whatever we do positive if we are to grow.
In summary, if you are interested to learn from JH, then do so. If he's not your cuppa tea, you'll find out. It's your time, use it wisely, either by learning from him, or by moving on.
best regards,
amg
http://groups.msn.com/JackHersheysStrategies/
In particular there is an excellent Glossary there already, complete with an acronym list as well as simple descriptions of terms such as Rocket, Iceberg, etc., and a "PreFlight Check" for getting ready for the day. They may not make total sense just now, but as you figure out the bits and pieces, they will be handy. Save them to your harddrive for future reference.
As to determination of the trend, ie, how to draw Points 1, 2 and 3 of a Channel, you must read this thread where JH walks you through the exact process, from the pre-open, through synch, midday, and end of day: http://www.elitetrader.com/vb/showt...\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\&pagenumber=1
I too have found times when I couldn't "get" what JH was writing, but a picture (such as the graphs in the Determining a Trend link above), goes quite a ways. What I've discovered is that when I was "ready" to absorb what JH had to offer, the difficulty in "understanding" him seemed to dissolve. The key is to be emotionally clear, not all fraught or anxious or defensive about your progress or knowledge. Once you get into the "doing" part, you might discover the methods themselves quite powerful, and, after all is said and done, not at all that difficult to grasp.
Good luck to all of you who are "new" to JH's method. As background, I first stumbled upon JH over at Clearstation in July 2000, on the WAG (Walgren's board), when I was swing trading stocks. I now daytrade futures. In addition to various other tools, I also use channels and volume extensively, but having come to them from a somewhat different path. I have found JH's ideas, however "oddly" stated at times, to be sound and to withstand the test of time.
Finally, a few words on the "detractors". In the five years I've seen his posts, I've yet to see him "ask" for anything other than your attention, seeing as people have generally asked him to expound on his views. I don't understand why those that don't "get" JH keep riding the bus to whatever thread he posts to. Once done with something, best to move on to what does interest you. I also don't understand the do-gooders who feel the need to warn people off. If JH were trolling for money, I might feel differently, but that's not the case.
Time spent learning is a very individual process. Some learn from "anything", investing hours of "free" time in such pursuits, however futile they may appear to others; some must have their hands held continuously, barely making a step without seeking reassurance; and some pretend to learn, marking time rather than using it to their advancement. The point is, we make our own lessons, and must make whatever we do positive if we are to grow.
In summary, if you are interested to learn from JH, then do so. If he's not your cuppa tea, you'll find out. It's your time, use it wisely, either by learning from him, or by moving on.
best regards,
amg
