Quote from Spydertrader:
No, I cannot pinpoint the exact location on ET or anywhere else I have seen them. I thought I had seen them on one of the older threads, but I am now unable to locate the reports using the search function. Should I locate them, I'll be sure to send you a link.
For the record, the Tucson IBD Group has only reviewed the Equities Method (what Jack now refers to as PVT).
Yes, I know 'many' who trade futures as Jack suggests. Some of these traders I have personally met. Others, I have spoken to over the phone, and a few, I have only communicated with via the ET web site PM function. I personally have only studied / traded the ES using Jack's Methods since June. The length of time the individuals to which I refer have traded varies, but a few have done so for over a year - some even longer. A number of these individuals do post on ET, but many do not. Those that chose not to post, do so, to avoid the hassle which often surrounds Hershey Threads.
Their success rates range from struggling towards consistency at one end to profitable each day on the other. The results I have seen, most would describe as extraordinary by any metric used.
I do not expect anyone to simply take me word for it.
I understand the frustration level which often surrounds Jack's posts. Rarely brief, Jack writes in a style which some perceive as obfuscatory. However, having met the man, I can say, without a doubt, it is not his intent. Unfortunately, most traders on ET (or anywhere else) never have the chance to meet Jack in person, nor sit and watch as he trades. As a result, most view Jack with a great deal of skepticism.
Interestingly, I once held a great deal of skepticism towards trading the futures as described by Jack on ET. Although I could successfully trade the Equities Methods, I viewed the lack of successful posts by futures traders to be quite telling. Two things happened to change my mind. 1. While at a meeting in Tucson, I looked at a chart of the ES, and realized, I could profitably apply an equities template onto the futures. This realization came almost immediately upon watching a chart of the ES in real-time. 2. In a response to a comment I posted in my Journal, I received a few emails from successful traders who rarely (if ever) post on ET. These individuals encouraged me to investigate further trading the ES using the methodology explained by Jack.
Again, I do not expect anyone to simply take my word for it.
The best analogy which describes how one learns to trade Jack's Futures Methods involves learning to drive a car. When we all first learned to drive, we had a mental checklist in our brains of things we needed to do to pass the driving test. Hands at 10:00 AM and 2:00 PM. Check the speed, rear view mirror, side mirror and hit the turn signal when switching lanes. Later, this 'laundry list' became intuitive. No longer needed, the internal monologue disappeared. We switched lanes, passed slower vehicles and travelled from point A to B without thinking much about it. Ever drive down an expressway on a long trip only to realize you had 'zoned out' and driven the last 5 miles on autopilot? We all have. Unfortunately, few people ever get beyond the 'laundry list' stage when attempting to learn Jack's Futures Methods. The data inputs and their priority within the methodology changes over time and context. As a result, in one trade a certain subset of data inputs has higher priority compared to another trade where similar (or entirely different) data inputs take precedence. When driving a car, one uses different observations for decision making a left turn when compared to pulling out of the driveway. So too, do the different data inputs have varying priority when trading Jack's Futures Methods.
I hope I haven't confused things even more for you. If so, I apologize. Good Trading to you all.
- Spydertrader
