Software Used to Trade Jack Hershey Methods

bi9foot · Feb 3, 2008

Quote from slacker:

Anyone using "Peak Trader Pro"?

It is described on their web site as "a system composed of price and volume leading to continuation or change.... When used correctly, PT Pro can give traders the opportunity to trade in both calm and turbulent market conditions."

A Revolutionary Approach to Day Trading.... 30 Years of documented research

The screen shot in Futures magazine looks like a Hershey annotated screen with FTTs and channels.

They will be at the NY Trader's Expo.... Does anyone know if they will be trading live?

www.peak-trading.com

Any information on this Hershey software would be great!

Here is a chart posted by a Peak Pro user
http://www.elitetrader.com/vb/attachment.php?s=&postid=1774896

Maybe older version. I know Spydertrader has mentioned a couple of companies coming out with new charting software pretty soon, going by what you have seen in the magazine they are probably one of them.

Spydertrader · Feb 3, 2008

Quote from slacker:

Any information on this Hershey software would be great!

I tested this software last week, and provided numerous recommendations for features which need to be added to the software in order to improve its functionality. The company plans to add my recommendations as soon as possible - hopefully, prior to the NYC Trade Expo. The company does plan to launch their software at the NYC Trade Expo.

Some of the recommendations I made include: Adding PRV to the YM, automating Pace lines (recaluclated each day based on current volatility), automating STR-SQU, adding 'bar countdown' clocks (with highlighted timer when 90% of the bar has completed), automating formation highlighting (Pennants and Laterals), Adding the YM tic chart, adding a filter to a second T & S window in order to 'look for size' and Adding the ability to 'paint' the Price and volume Bars based on user defined 'rules'.

The software currently uses IQFeed for its data.

Once the above changes make their way into the software, the platform should have 100% of the functionality required to have an 'all in one' platform for trading futures.

I plan to post updates as additional information becomes available.

- Spydertrader

FerdinandAlx · Feb 5, 2008

Quote from LostTrader:

OK, that is just weird...

I do not know. Pr0crast uses Zenfire & Mirus, and it works for him...

Make sure you are at the 6.5.08 beta, please, and try importing this one. Then after you compile it, and re-apply it on your chart, let me know if there are any messages in your log referring to VolumePRV.

Thanks!

Thanks alot, this new version works perfectly! I'm leaning towards NinjaTrader for the use as my standard platform in futures now.

I checked the log and it doesn't mention the imported file or the new indicator.

nkhoi · Feb 5, 2008

Quote from palinuro:

..
Anyway, hope it proves useful!

-palinuro

it works great, could you also add a feature so I can right click and start then new channel, this way the old channel doesn't get erased.

FerdinandAlx · Feb 5, 2008

Quote from bi9foot:

Here is a chart posted by a Peak Pro user
http://www.elitetrader.com/vb/attachment.php?s=&postid=1774896

Maybe older version. I know Spydertrader has mentioned a couple of companies coming out with new charting software pretty soon, going by what you have seen in the magazine they are probably one of them.

Who took the initiative for the software? Did a Hershey trader approach the company for software that caters directly to this method?

palinuro · Feb 6, 2008

Quote from nkhoi:

it works great, could you also add a feature so I can right click and start then new channel, this way the old channel doesn't get erased.

I'm not sure what you mean - NT controls what the mouse does, and I'm not aware of any code method that can change that.

But the lines are chart objects, so if you want to retain a line you could select/copy/paste, and the copy would remain when the indicator creates a new line. You'd also be able to adjust the copy any way you liked, though at that point it might be quicker to just draw it.

ljyoung · Feb 7, 2008

Quote from FerdinandAlx:

Who took the initiative for the software? Did a Hershey trader approach the company for software that caters directly to this method?

IMO, your question is an important one but speculation as to motive should be avoided until the facts are known. Can something which is in the public domain be repackaged and sold back to the public? I don't know. Probably it can, but at the very least the purveyors of the product should recognize appropriately (and perhaps they already have) the source(s) of the inspiration for said product. There have been a huge number of contributors to the Hershey effort, not the least of which is Jack himself. It was after all his wild and crazy and beautiful brain that thought of the very largest amount of the core and trimmings of this unique view of the workings of the market.
There are those who write code and there are those who think of things for the people who write code to write about. There are those who do both. The Open Source paradigm is good for everyone, IMO, but it is not for me to say how applicable that way of doing business is in this particular case. That's up to somebody else.

lj

Avi 8 · Feb 8, 2008

Quote from ljyoung:

IMO, your question is an important one but speculation as to motive should be avoided until the facts are known. Can something which is in the public domain be repackaged and sold back to the public? ...

I don't think this is an important question at all.

Ever hear of a company called Red Hat? (RHT). For those who traded during the dot com bust, many will remember this company as the one who repackaged the public domain software called - Linux.

ljyoung · Feb 8, 2008

Quote from Avi 8:

I don't think this is an important question at all.

Ever hear of a company called Red Hat? (RHT). For those who traded during the dot com bust, many will remember this company as the one who repackaged the public domain software called - Linux.

As to what is or isn't important, that, of course, is a matter of opinion. As I said later on in my post it was my uncertain opinion that this was generally-speaking OK.

Yes, indeed I have heard of a company called Red Hat and along with several other companies, they repackaged the PD/OS software called Linux. A "Flavor of the WeeK" sort of thing and a paradigm honed to perfection by the Japanese and more recently the Chinese. Patent laws being what they are, this activity has provided lots of busy time for the lawyers. However as best I understand things, when a thought, idea, product, etc. is Open Source, this sort of unpleasantness does not come in to play. Thus those of the "OS mindset" continue to do what they have been doing with no particular concern for anything other than putting an edge on the thought, idea, product, etc., for free.

lj

Avi 8 · Feb 8, 2008

Quote from ljyoung:

As to what is or isn't important, ...

Who cares.

What does your last post have to do with this thread?

I mentioned Red Hat and then you go on to inform me of what they do/did. Obviously I already knew that info since I used them in my answer to you about selling public domain material.