Questions to Jack Hershey

Here is a drill in the form of doing a deductive proof.

logic man cannot work through this type of market consideration, apparently. He is excused.

The obvious is obvious to the Scientific mind.

Nothing is obvious to the betting mind.

Here is one sentence for you to figure out, deductively:

Three up/down pairs do NOT work (Boyd and his OODA); only two left/right/left triads will work (the PEP and its applications using MADA).

Play geometry and do a proof (deductive) on one page of paper.
 
Once you put enough info on a sheet of paper, take two new sheets and write out each approach. Use P and V columns for each.

Treat yourself to this cardinal analysis of the causal factors for CW trading failure.

As you do up/down pairs, look really closely to see the dilemma of the CW oriented trader.

Really look at the consternation this person must face as he sees his pairs are NOT CONSISTANT.

I have rarely seen anyone who went very far down the CW rabbit hole be able to recover from the way the mind's belief system support continued confusion. Look at RN's most recent chart posting.
 
This is an old chart I posted here. Cases, containers, doms -non doms, fun chart.
Jack, want to dissect this and correct any mistakes ?



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Quote from jack hershey:

This is the most common subset of those who wedge in an invention or are coming from a price only type strategy.

Your earings doing 1/3 of the approach approach the high end trades in the CW orientation. Two people epitimize this level: nodoji and RN.

If you have followed the prof, you see his non time approach is about 1/6 of the PEP approach.

You substitute for annotating Monitoring and analysis) is to use a family of timed bars. This means you do not connect with the faxt that trends overlap; you just see the "retrace" function in CW.

PEP and its apps swith to the "reversal function" which ends and begins the next trend.

Notice that in all of Covel's books he does not "get" this. Why? It is simple; he only asks skilled people the questions he thinks up as a lagging BO trader. He is still in the up/down, entry/exit world.

Multi family chart people lock themselves into time. To escape time colud be done as logicprof did but he missed the deduction and did induction instead.

See if you can see three fractals all event based on the 5 minute chart. Use volume to introduce yourself to trading fractals that have a neutral bias.
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I don't know if I fully understand what you say, but I annotate three overlapping channels on my 5 min chart. i know there are trends in trends in trends... and so on. Just saying that some trends are more likely to take off strong and move a long way, which makes them safer to trade when your not experienced and have a habit of missing half of what's going on during the day cause your brain can't keep up with all the information .:)
 
Up to 11 charts... this is pretty cool, I could locate most pt 123's and FTT's on the Gaussians before even drawing a single price bar. Want to get to the point where this becomes automatic...

Vienna
 
Quote from jack hershey:

There are a lot of flaws in your reasoning. Too bad.

Study up on market "capacity".

Also read up on "sweeping" accounts

PEP has three applications to handle these limitations.

Also check out the types and sizes of markets in the various application categories.

Finally repair your definition of a full time trader. Mine is: A full time trader is a person who has not as yet learned to read and partner with markets to take their full offer.

Since you haven't had the experience of trading with skill, you are still an "outsider". That will probably never change for you.

If a person, other than that characterized in Behavioral Finance, recognizes someone making money by demonstrated trades and their results for over a year, then the person pays attention and gets into learning to learn and learning to trade.

We spent about six years making a record of how to learn PEP and its three applications. All reduce to one pagers.
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At any given minute of the day, a trader can sell 50 ES contracts with minimal slippage and 100 ES contracts with definitely less than 1 ES point of slippage. If you could take 3X the daily ATR on the ES with 50 contracts for the past decade, you would be the richest person in the world or one of them. Then, if you exhausted the capacity of the ES, there are, at any given minute of the day, a good 200-300 stocks within the S&P index which are showing strongly correlated directional and size moves to the index itself, which means another relative ocean of liquidity is open to a trader who knows how to "take the market's offer". Then, there is the NQ and the TF and the YM, the European indices, correlated currencies, etc., etc.

If you are going to "take the market's offer", it makes no logical sense not to take it in the size in which it is given, regardless of the instrument in which it is being given.

Also, just to point out the flaw in your "reasoning" about my skill level. If I weren't "trading with skill", my critique of your approach would probably focus on the market analysis and your trade entry, management and exit approaches, in an effort to debunk them. Notice, though, that I don't even have the need to debunk them because it's too trite a critique and not worth my time. The fact that I focus on the necessary deductions that stem from your performance claims, as it relates to position-sizing, shows that I am WAY past caring about your techniques, which I find useless because my "skill level" is way past needing any help from you.
 
Quote from logic_man:

At any given minute of the day, a trader can sell 50 ES contracts with minimal slippage and 100 ES contracts with definitely less than 1 ES point of slippage. If you could take 3X the daily ATR on the ES with 50 contracts for the past decade, you would be the richest person in the world or one of them. Then, if you exhausted the capacity of the ES, there are, at any given minute of the day, a good 200-300 stocks within the S&P index which are showing strongly correlated directional and size moves to the index itself, which means another relative ocean of liquidity is open to a trader who knows how to "take the market's offer". Then, there is the NQ and the TF and the YM, the European indices, correlated currencies, etc., etc.

If you are going to "take the market's offer", it makes no logical sense not to take it in the size in which it is given, regardless of the instrument in which it is being given.

Also, just to point out the flaw in your "reasoning" about my skill level. If I weren't "trading with skill", my critique of your approach would probably focus on the market analysis and your trade entry, management and exit approaches, in an effort to debunk them. Notice, though, that I don't even have the need to debunk them because it's too trite a critique and not worth my time. The fact that I focus on the necessary deductions that stem from your performance claims, as it relates to position-sizing, shows that I am WAY past caring about your techniques, which I find useless because my "skill level" is way past needing any help from you.
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arguing with psychopaths is talking to a wall.. they are naturally skilled at NLP command-embedding speech, they are three years old emotionally and they only want to be aggrandized. If you are not one of their trained followers you are not anybody worth their time...
 
Quote from maxpi:

arguing with psychopaths is talking to a wall.. they are naturally skilled at NLP command-embedding speech, they are three years old emotionally and they only want to be aggrandized. If you are not one of their trained followers you are not anybody worth their time...
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Most definitely. I just like to do the math on someone who talks big, to see if it's feasible that the talker is achieving what he claims. Clearly, no trader can compound an account to infinity, but, for all practical purposes, a trader who was able to accomplish what Jack claims SHOULD be able to take home hundreds of thousands of dollars per day.

But, yeah, whenever I read his posts, I thank my lucky stars that I never came across them when I was young and stupid enough to have thought they could be worthwhile.
 
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