Questions to Jack Hershey
- Thread starter BenzMercedesSL
- Start date
Quote from SK0:
David, my two cents below. Sorry if I confuse you or anyone for what I am going to say. I stand to be corrected.
Thank you for your information, SK0!
I am still confused with this:
My understanding on Pace Acceleration:
A dom traverse widens to create volatility expansion. After the VE, a non dom move follows and then dom move. This creates an accelerated traverse within the original traverse. Then the dom traverse promotes to a channel....
The IR post that gave me the idea on Pace Acceleration was here:
http://www.elitetrader.com/vb/showt...80&highlight=accelerated+traverse#post2156780
The corresponding chart they were talking at that time was:
http://www.elitetrader.com/vb/attachment.php?s=&postid=2155163
Is this a special case in SCT?
This is not the way to build inferences in your brain.
There is only one way for Price to move from Point 1 to Point 2. That is, move to the right with non-dominant volume, then breakout from RTL with dominant volume to the left.
If I don't have this kind of move, logically I don't have the move from Point 1 to Point 2. It would be something else or incorrect annotation.
Quote from SK0:
The Peak Volume is still good. Jack talked about it yesterday.
On adjacent bar basis with no PRV, I would not use it alone to decide whether to switch market mode. It is better to wait for IBGS/Doji Pass or failure to resume on the next bar.
Thanks again!
I'll study the information there.
The link is :
http://www.elitetrader.com/vb/showthread.php?s=&threadid=151802&perpage=40&pagenumber=59
My questions:
1) If your trading methods are so good, how come you've only entered one public trading contest...coming in dead last and leaving with a 28% loss?
2) If you don't like contests, why not enter your trades on a site like Collective2?
3) You seem to fancy yourself as a humanitarian. Do you sleep better at night knowing hundreds of people have wasted countless hours of their time (not to mention their savings) trying to decode your unsubstantiated, cryptic methods?
1) If your trading methods are so good, how come you've only entered one public trading contest...coming in dead last and leaving with a 28% loss?
2) If you don't like contests, why not enter your trades on a site like Collective2?
3) You seem to fancy yourself as a humanitarian. Do you sleep better at night knowing hundreds of people have wasted countless hours of their time (not to mention their savings) trying to decode your unsubstantiated, cryptic methods?
It's a shame really. I hate to see anyone waste their time. There are quite a few good traders that post at least occasionally on ET. Find out who they are and read their posts instead. And, Jack, I wish you well. I really do. It's just that what you are doing, in my personal opinion, is harmful.
I have great empathy for those who come upon trading and do their wondering out loud.
Trading to take the market's full offer can be a wonderful experience. It is the standard I attain.
My methods are beyond good and they deserve consideration.
So I have a lot of responsibilities to give care to so that as few people harm themselves when it is possible to prevent harm.
Your questions do not have much to do with improving your trading skills. And it looks like you may need to consider how educating yourself could be improved.
My mission has always been two fold: Have people learn to make money and support the learning of others by passing it forward. They also help solve local problems with their profits and new found time.
I do what I do and go where I go to forward my goals.
For you to realize your potential in life as well as becoming more rational, consider bearing down and beginning carefully to build your mind.
Use the knowledge and skills acquisition that has served you well in the past.
Find someone who can keep you focussed on doing the ordered drills for conducting the process of learning to take the full offer of the market.
You have one goal. To repeat HOW you learned to read or drive a car or learned to ski. BUT you need to apply this same process to build a fully differentiated mind.
For reading you have an alphabet, words formed from letters, their definitions. You know the rules of forming a language from words by using them in an order of appearance. Sentences form complete thoughts and, as used in paragraphs, sentences cooperate to increase the sense and sensitivity of the transfer of information.
Writing books is helpful for understanding how information is transferred. Do some after you are rich.
No one starts with a clean slate or a blank mind. I recommend seeing the "Temple Grandin Story" since she started with a mind that had little wiring.
Your mind has a disadvantage and that often happens to people. So what? Glance through a couple of books on learning and a couple on how the mind works. Get acquainted with your status and what it will take for you to get to an even starting point.
Trading is like learning a body of skills and knowledge just like you did in fifth or seventh grade. You can do it. BUT maybe you will fail of your own accord.
One outcome is having the text of a partnership all written out and put in force. The person you line up to keep you on track, will explain how partnerships work and that you are a partner with the market.
You do not have to trust me but you do have to trust the market. You can't do trust by deciding to trust. For example, I could never trust you at all. You aren't going to help others or spend resources to solve local problems. You are a "taker" instead.
You even failed to decode my unsubstantiated cryptic methods. Those who use them have a key that was denied you and you know that.
Building a mind to excel is done by adding inference after inference, if and only if, they are of "like kind" (Keynes) and there is an underlying logic (Carnap). What emerges is a spectrum of adjacent pieces that is complete and finite. In other words: "A fully differentiated mind" for partnering with the market.
So a rule set does not ever appear. A system appears. It has three parts: a structure, a process within the structure and results come form conducting the process within the structure.
You ski anywhere and it is a supreme partnership with the terrain and the snowy surface. It is way beyond imagination. The full technicolor experience didn't just happen because your daddy gave you skiis and dumped you on the top of mountain.
In a couple of weekends you can be a skiing expert. But there is an IF.
You never take a lift. You side step up only. You only slide down sideways with your skiis parallel. At some point you get too tired to continue and the sun is setting.
The IF is this: Work is required.
The work is the decoder. By working, you do the substantiation just like every other expert practitioner of any methods ever used. The cryptology expertise you gain is simply because your mind gets organized and what is in it now gets moved to the back row and blocked from view because something which has been worked for takes its place.
It may be that right now your mind can only evaluate what you have not worked on in terms of what is in your mind presently. If you see something that has a name then that is what the reference is that is in your mind. Most people tell me they are seeing gibberish. This reference system is not good for them to be stuck with.
4 out of 5 do not begin. They cannot take the personal risk involved. They may have figured out there are no shortcuts for building the mind. If there are no shortcuts they are not investing time. They stick to reading and finding shortcuts for other methods.
The complex problem of putting new things in a mind along side other previously extablished beliefs is a real Tiger.
Curiously, I entered a contest to find out how it worked. So did 12 others. 13 of us had to participate; a person coluldn't drop out. Fortunately for me, nowadays, it keeps a lot of people out of my world.
I need to be viewed in way that is self policing. The greatest aid I have in this is the beliefs of people whose standards are the CW of the financial industry. I fit into the "unbelievable" category of the CW of the financial industry. Witnessing one of these members of the industry try to nail me in a live market is something else.
Regarding item 3, and so you can sleep at night, please suggest to these people you mentioned that they ask questions of someone who lives near them and possibly meet with that person since that person knows he will learn more about what he does by helping others. We have a global critical mass at this point.
Quote from SK0:
David, my two cents below. Sorry if I confuse you or anyone for what I am going to say. I stand to be corrected.
By the way, I am not dkm.
