Questions to Jack Hershey

Quote from TIKITRADER:

If it would have said increasing and decreasing the secret
would have been given out. Next time bring your secret decoder flashlight to class
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My secret decoder:D
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It is going Up as it goes along !!!!!!!
 

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Quote from baro-san:

Would you mind to summarize it here? It really seems that you don't know what you're talking about.
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There is no other method Jack has besides Cash Cow that's ever been published.

Since Jack likes to trade ES or has put up charts on ES or his followers have, the only symbol that method works on and in is .SPX at Fidelity.

That's the only method that makes a significant enough profit to warrant the banter whenever he talks.

As to the others, there aren't any other threads with backtested performance statistics or tradeslists, so I'm the only one, but others can see what the metrics looked like and until we have more backtests from the method it is futile to even engage a logical discussion about JHFM.
 
As I thought, you're not actually acquainted with Hershey's methods.

You're talking only about somebody else's initial learning experience of Hershey's method for swing trading high quality stocks. No SCT, and no first hand understanding of Hershey's price / volume based method.
Quote from bwolinsky:

There is no other method Jack has besides Cash Cow that's ever been published.

Since Jack likes to trade ES or has put up charts on ES or his followers have, the only symbol that method works on and in is .SPX at Fidelity.

That's the only method that makes a significant enough profit to warrant the banter whenever he talks.

As to the others, there aren't any other threads with backtested performance statistics or tradeslists, so I'm the only one, but others can see what the metrics looked like and until we have more backtests from the method it is futile to even engage a logical discussion about JHFM.
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From earlier in this thread:
jack hershey


Registered: Feb 2003
Posts: 5597


11-21-11 01:58 PM



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Quote from MarketMasher:

I tried on some recent data but my curve doesn't look right.

http://imageshack.us/photo/my-images/97/try01.png/

Shouldn't the curve go parabolic and then stay vertical?

Can you post your successful implementation so I can see?
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Start slowly.

Use the one pager for PVT.

It takes about 15 minutes to run a year long test.

To exactly duplicate a past test by Worden Bros staff at TradersExpo, use their drag and drop (Bloxs) to get the logic. Then use a Universe that is available to you like a performance level Universe. Worden used the NAZ 100. They repeated the test since the results exceeded any test they had ever run. They calc'ed the usual stats as well. Sharpe was over 60.

Anyone can use the rules and a Universe. Notice the rules are on the one pager and the criteria for the Universe is stated in the thread that posted trades in advance and then the results for over a year in ET.

Also you can duplicate the failure Trader666 did. He screwed up in several ways as I noted in my critique of his testing failure. Also or even, his test had no statisitical significance it turned out. I do not think he knew this nor does anyone else who posts his faulty chart.

I have invented several trading applications of various paradigms. With regard to all the the above, blowinsky has not done any work so related.

He has examined only the first (beginner level of an approach coded as Cash Cow where I presented some of the intial logic. subsequent levels of Cash Cow were not made public. They are documenteed in a combo of text, charts, logic flow sheets and Excel logic flow sheets. Blowinsky has seen none of this work.

The Cash Cow was an exercise that we enjoyed doing and it was done to simply create an ATS that used indicators as inputs. All the indicators were customized by using synchronistic defaults for the fractals traded. In Wikipedia I was creditied with revising the MACD and other indicators to the modern world of the PC. Pring, for example, adopted them four years later.

For humor and character assassination reflection, there once appeared on ET a system that didn't work. It had the out of date MACD and used the wrong signal generation. Also the MACD was offset in time artificially. I made a serious mistake in relating to its creator in order to offer suggestions. The person never recovered from what he assigned as the weight of my suggestions (which he deemed criticisms for his own reasons (youth, ignorance, etc, etc...)). I did not make public my suggestions since I felt they might be misinterpreted. Indeed they were.

So in summary, you are not going to be sucessful in trading or creating ATS of various market trading approaches. You will also be unable to create tooling in the form of snippets that increase the degrees of freedom for market analysis. The reason for this limitation(s) you have permanently incurred, have to do with the beliefs you have decided, irreversably, to adopt. Such adoptions have occurred sans reasoning through their potential damaging consequences.

There are two aspects of the mind involved here. One is that the mind does not have an "eraser" function. The second, is that the mind ignores the negative in communicated information.

Walk carefully on the ice gives you one picture.

Don't fall down on the ice gives you another picture.

For trading, your beliefs cannot work to form rational systems of though any longer. Too bad for you.

A lot of this thread deals with Q and A an SCT, an application of PEP. Seamless Continuous Trading replaces the CW mind orientation of the financial industry. Related to markets, what I have designed and have as system is like a foreign language to CW financial industry followers. therefore, it is not likely nor probably possible for a person who has no mind development or mind building from doing work in SCT or PEP to be able to understand anything I espouse.

Covel is a prize example of this impenatrable wall he encountered as a consequence of his faulty belief system. Many people attribute my building the walls. What, in fact, is true is that the walls are carried by those who fail to process my communications. Thus, I get a benefit, that is unearned or at least not costly.

It can be very costly to a person whose mind has been closed for that person to pursue learning about anything he is no longer capable of entertaining.

The standard for accomplishment is the market's offer. All things are measured against this performance level. The term "unbelievable" is one that is used by people who use their personal standard instead of the market's standard. So those people have simply built an artificial and permanent barrier that keeps them out of the potential place of learning how to trade by learning how markets work. You are one of those people who is denied the opportunity to walk through the open door.
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Having nothing much better to do in this slow market, as all 25 of my codes comprising some 1700 SLOCs are done, undone, redone, and overdone, I thought to aggravate the Hersheyites with this instructive little scattergram for their uninstructable little scatterbrains. It is the first 32 five minute bars of today's NQ close and volume connected progressively, starting with the lowest point in the chart. X-axis is volume, Y-axis is close. PV relationship? Kiss my ass! Looks more like my relationship with my inlaws.
 

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Let me follow up with my concise view of Jack's contribution to ET. Jack will assert something provocative like "The moon is made of green cheese!" Well, strange, but you research it, and learn something about the true composition of the moon. Next Jack may claim that "The earth is flat!" OK, I'll try out that notion and see what I learn, and I find all the contrary evidence. I have been reading him for almost as long as he has been posting here. Thanks to him, I know a lot of things which are true about trading. And it is ungrateful but comprehensive to point out that few of those truths bear much resemblance to what he posts.
 
Quote from Joe Doaks:

Having nothing much better to do in this slow market, as all 25 of my codes comprising some 1700 SLOCs are done, undone, redone, and overdone, I thought to aggravate the Hersheyites with this instructive little scattergram for their uninstructable little scatterbrains. It is the first 32 five minute bars of today's NQ close and volume connected progressively, starting with the lowest point in the chart. X-axis is volume, Y-axis is close. PV relationship? Kiss my ass! Looks more like my relationship with my inlaws.
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Lsd is cool :D

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Quote from baro-san:

As I thought, you're not actually acquainted with Hershey's methods.

You're talking only about somebody else's initial learning experience of Hershey's method for swing trading high quality stocks. No SCT, and no first hand understanding of Hershey's price / volume based method.From earlier in this thread:
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Particularly PVT and SCT were what was published by spyder in the wl4.wealth-lab forums.

It was not profitable. No matter where you backtest those methods there's no public backtest other than the one T666 publishes, and also matches the results I get when backtesting a portfolio simulation in Wealth Lab's Portfolio Simulator.

The explanation of cash cow by Scottd is there for you to code, but you'll need my data or even my version of Jack's program.

Baro-san, if you do have backtests please publish here.

PVT/SCT are one and the same method, published for the Wealth Lab community, but, as I said, was not found to be profitable.

Jack's Cash Cow is the only one that has published code, backtests, and tradeslists.
 
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