Questions to Jack Hershey

Quote from SK0:

Pace Acceleration was a concept created by Spyder. Rocket was a term used by Jack way back in 2003 to define Traverse-level trends where the 5-min bars exceed 10,000 contracts each (probably too low for our time now).

A Rocket could look like a Tape but it is not. The non-dominant Tape component of a Rocket could move in dominant direction too. I know it sounds incorrect but I never make it up as that was what Jack said in some of the old posts.
More...


I searched for the rocket's information in ET and read the "beginner rockets.doc", but the information here is quite brief.

Jack mentioned rocket in this thread:

http://www.elitetrader.com/vb/showthread.php?s=&postid=1089860&#post1089860

but not much details.


Where can I find more information?
 
I found out the rockets on 26-28 Sept 2011.

Any comments?


attachment.php
 

Attachments

Quote from xiaodre:

Monkey, look at the people who actually traded this method, made the calls, and posted their results in their journals, monkey.
More...

Ummm, can you give a link or two. There is no information here, just a claim that someone did this. It's useless as it is.
 
Quote from jack hershey:

For others who are doing the drills. (THE "work") .....
More...

Jack, am following your practice advice... this Sunday, am drawing the price bars from Volume only.

First thing I found out is that there is no way that I can do 50 in a weekend lol...takes me about 20 mins per chart, have done 3 today so far. So I guess speed would be a metric for "facility", when I can do a reasonably accurate chart in a few mins.... then I'll switch to doing the vol pane from price only.

Things are popping out though: I found that I could clearly see laterals (beginning to end) from the Volume pane only... a PA bar followed by a big drop...have never done this before, so that's cool...

Best,

Vienna
 

Attachments

For me it is easy to get lost in the fine tune stuff, so I'm only been looking at a 15 min and 5 min chart of ES and drawing channels. For me the 15 min chart is ideal to identify the dominant trends. It's also very easy to spot early when the market is rangebound on this fractal.

I've been papertrading for a while with this strategy: Identify main trend on 15 min chart. Only enter at the right trendline on the 15 min chart, OR if price-volume pattern is a bit unclear, wait for a traverse in the dominant direction and enter on a pullback, which is the same as point 3 on the 5 min chart. Stop behind last swing high-low, target left trendline.

I've had better results with this than with anything else I've tried. So I'm wondering what Jack or people who actually trade channels and price-volume think about this approach? Is this simpel method something that is working with real money and over time?
 
Quote from Mushroom:

For me it is easy to get lost in the fine tune stuff, so I'm only been looking at a 15 min and 5 min chart of ES and drawing channels. For me the 15 min chart is ideal to identify the dominant trends. It's also very easy to spot early when the market is rangebound on this fractal.

I've been papertrading for a while with this strategy: Identify main trend on 15 min chart. Only enter at the right trendline on the 15 min chart, OR if price-volume pattern is a bit unclear, wait for a traverse in the dominant direction and enter on a pullback, which is the same as point 3 on the 5 min chart. Stop behind last swing high-low, target left trendline.

I've had better results with this than with anything else I've tried. So I'm wondering what Jack or people who actually trade channels and price-volume think about this approach? Is this simpel method something that is working with real money and over time?
More...
earn when you learn, nothing wrong with making money using a subset of the method.
 
Quote from Mushroom:

For me it is easy to get lost in the fine tune stuff, so I'm only been looking at a 15 min and 5 min chart of ES and drawing channels. For me the 15 min chart is ideal to identify the dominant trends. It's also very easy to spot early when the market is rangebound on this fractal.

I've been papertrading for a while with this strategy: Identify main trend on 15 min chart. Only enter at the right trendline on the 15 min chart, OR if price-volume pattern is a bit unclear, wait for a traverse in the dominant direction and enter on a pullback, which is the same as point 3 on the 5 min chart. Stop behind last swing high-low, target left trendline.

I've had better results with this than with anything else I've tried. So I'm wondering what Jack or people who actually trade channels and price-volume think about this approach? Is this simpel method something that is working with real money and over time?
More...

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.
 
Quote from logic_man:

If I had to pose a question to Jack, it would be "Why do you put such an irrationally small amount of capital at-risk on each trade?" I know the stats on my own strategy pretty well and they don't stack up to what Jack claims he's able to do, yet I also know that if I used an aggressive position-sizing method like Kelly or optimal f, with a single year's worth of trades and compounding capital, I would be the entire market. If Jack's strategy is so bullet-proof, he should be risking 50-60% of his capital on each trade (again, according to the aggressive position-sizing methodologies, given that my own strategy results in a 40-50% recommended amount of capital at-risk per trade, not that I take it, but that's what I should do to maximize total profits over time) and making commensurate gains.

Put simply, on the basis of Jack's own claims regarding his accuracy and trade frequency, it is impossible to deduce any outcome other than that he should be many, many times richer than the richest people alive. Anyone who can't see that is blind.
More...

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.
 
You must log in or register to reply here.
Back
Top