Questions to Jack Hershey

Quote from graeigoriast:

Scientology for traders :p
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Fascinating stuff here.

It looks just like classical technical analysis (channeling, volume leading price, breakout retracements, higher lows, etc.)

Complicated language for the same old edge (which still works).

Funny thing about tech analysis is most people gravitate to price patterns, rather than the backbone of the strategy, which is just trend reversal signals.

Going further, elliot wave principle is pretty much hated by 90% or traders, yet is brutally accurate in the right situations. It took me a year of study just to understand the compound nature of the waves. It took another six months of mistakes to understand that certain situations are very, very uncertain, when it is not possible to solve for a wave count.

I'll probably get my nutz kicked for posting this. :D

Prechter did win a trading championship back in the day, using Elliot Wave.

To win in the market, you have to go where no one is. Stay in phase with the market and out of sync with the suckerz.
 
Quote from Wide Tailz:

Fascinating stuff here.

It looks just like classical technical analysis (channeling, volume leading price, breakout retracements, higher lows, etc.)

Complicated language for the same old edge (which still works).

Funny thing about tech analysis is most people gravitate to price patterns, rather than the backbone of the strategy, which is just trend reversal signals.

Going further, elliot wave principle is pretty much hated by 90% or traders, yet is brutally accurate in the right situations. It took me a year of study just to understand the compound nature of the waves. It took another six months of mistakes to understand that certain situations are very, very uncertain, when it is not possible to solve for a wave count.

I'll probably get my nutz kicked for posting this. :D

Prechter did win a trading championship back in the day, using Elliot Wave.

To win in the market, you have to go where no one is. Stay in phase with the market and out of sync with the suckerz.
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Here's what matters:

Buy low
Sell high

All you need to do is define "low" and "high" and you are set. The market does it for you, if you watch it closely enough.
 
Quote from jsp326:

Wait, what happened to the stuff on Jack's tax lien?

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relax, a simple search yields pages of cut & paste posts on it, you can search and re-read them as much as you want.
 
A chart for today with the main channels and FTT:s I could spot, and an area where I was a bit lost. Any comments from Jack or somebody else are welcome.
 

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Quote from Mushroom:

A chart for today with the main channels and FTT:s I could spot, and an area where I was a bit lost. Any comments from Jack or somebody else are welcome.
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you were in a retrace (non dom move) that was peak (max out) volume of the retrace move.
 
Quote from nkhoi:

you were in a retrace (non dom move) that was peak (max out) volume of the retrace move.
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Thanks for the reply. But in real time I thought it was difficult to get confirmation that I should get out of the short that I entered 12.35 in time but stay in the short that I entered around 14.35.
 
Quote from Mushroom:

Thanks for the reply. But in real time I thought it was difficult to get confirmation that I should get out of the short that I entered 12.35 in time but stay in the short that I entered around 14.35.
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What about this:

<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=3349610>
 

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