Result of a jack hershey strategy
- Thread starter ProgrammerGuy
- Start date
The system uses 5 minute charts, there is no way to program when within that 5 minutes you would initiate the trade, in fact I don't think any of the SCT users including Jack and Spyder themselves have come to grips with that in actual trading scenarios. It is a huge grey area that compromises the entire method in my opinion
Personally, I am trading the method discretionarily now and I can honestly say I would have very little confidence in coding it. There are so many subtle variables within the confines of the approach, I think it would be nearly impossible to account for all them. And missing just one could make a huge difference when finding the right side of the mkt. My experience of working through channels, volume, PRV, DOM analysis etc etc has allowed me to account for nearly all the variables that I find important in reading price action correctly on the fly (and of course still learning/improving). Now, I can do this because on a subconscious level I must have picked up these subtleties through observation and repetition (many months/years of trading), but I guarentee if I sat down, I would have a very tough time making a written list of everything that goes through my head on a second to second basis. However, when I am trading I just pull the trigger or dont based on what I am seeing. Some people refer to it as sports memory. If I asked A-Rod exactly everything that went into him hitting a homerun off a 95 mph fastball, I'm sure he could tell you the basics, but every dynamic that went into the swing, probably impossible.
Im sure you could code the most basic of situations, maybe 1 or 2 trades a day, who knows. Just my personal opinion, you are better off putting in the 1000's of hours of screen time and working through it yourself, to truly get in sync.
Im sure you could code the most basic of situations, maybe 1 or 2 trades a day, who knows. Just my personal opinion, you are better off putting in the 1000's of hours of screen time and working through it yourself, to truly get in sync.
One could argue you are simply interpreting price action which could have been acquired on a subconscious level using any form of TA
I think most successful traders would agree no method really works as such, but merely trains the user to interpret price action correctly
Methods and systems are really tools we use to become great traders, but they are not what make us profitable, that must come from correctly reading price action
Perhaps, but I never traded futs before (only stocks) and my first attempt was through this method and I am having good success. So I guess I'll never know for sure if I could have done it on my own or not. Personally, I think I would have b/c I am a persistent bastard 
The tradestation code uses no slippage, however I do my testing is a custom programming language where slippage and commissiones is accounted for and is determined by the formula of (Currentask - currentbid) / Currentbid * 100 + (.005 / price ) / price * 100,
I have a database of all these listings for many many time frames on many many different markets.
As for the jack hershey methods... I only choose (1) to base the strategy on.
I'm just posting it to show, that it may be possible to create a winning strategy out of JH's logic.
I have a database of all these listings for many many time frames on many many different markets.
As for the jack hershey methods... I only choose (1) to base the strategy on.
I'm just posting it to show, that it may be possible to create a winning strategy out of JH's logic.
I agree with you on this, methods are just means to an end. Whatever allows you to interpret price action correctly, whether its the Hershey method or any other method, if it puts you in the right frame of mind to correctly interpret what you are seeing (and then acting upon it), then thats truly a great thing.
It's a pointless exercise, the worst system in the world can be manipulated to look profitable, in fact backtesting, paper trading, they are all worthless, realtime screentime is king!!!
Nobody ever practices to have sex
Yeah and if the they don't know when to pull the trigger inside that 5 minutes how are you going to know when to program it?