Spydertrader's Jack Hershey Futures Trading Journal

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Quote from RedDuke:

But we all see an FTT, BO or FBO approximately at the same time on 5 min ES chart. The wall will be eaten at the same time for all of us, so the best potential entry will not be there for everybody. Of course there are other markets, but we are all taking about ES here, and my question is in relation to ES only.
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Stepping back a few, long before such a group of people get to a point, they will have had an incomprehensible religious experience. The fear of an "edge mentality" completely vanishes. The reason being is that you have grasped and achieved being skilled in dancing so to speak. You know how to stay on beat and use tools that can be used anywhere. As with each previous plateau, there are no missing toolsets. The religious experience entirely does away with the fear you are mentioning. Anyone who is in the skill set group you mention can tell you about how it is that they are not concerned about what you described nor could they concieve themselves of being concerned of such scenarios... It is at best difficult to describe the before and after. It's kind of like saying, 5 years ago, could you have ever imagined that where you are now, is where you would have thought you would have been... For most people, they would have thought that should have stopped assuming... When you're moving 10 contracts at a time and knocking down 2 points regularly that is religious... $5k a day, $20K a day, $20k a turn... EEEK!!! Then life starts getting really weird. You start thinking about objects in terms of effort (ie. a Lexus LS600h maybe 45 minutes worth of effort)... MAYBE... :cool:
 
I agree with your points guys, but thousands will try out of which hundreds will succeed. I have seen Jack posting on other threads that he demonstrated his method to MERC locals and blew them away. There is a big interest in this method, and once it is perfected, it is a matter of being disciplined to gradually increase the size to max that the market can handle. Seeing several AHA moments on this thread recently, there will be others soon, and within a year or so we will all be fighting each other for the best tick price, don’t you think. Once again, I am only taking about ES since it is the most liquid with daily moves large enough to capture them.
 
Quote from RedDuke:

I agree with your points guys, but thousands will try out of which hundreds will succeed. I have seen Jack posting on other threads that he demonstrated his method to MERC locals and blew them away. There is a big interest in this method, and once it is perfected, it is a matter of being disciplined to gradually increase the size to max that the market can handle. Seeing several AHA moments on this thread recently, there will be others soon, and within a year or so we will all be fighting each other for the best tick price, don’t you think. Once again, I am only taking about ES since it is the most liquid with daily moves large enough to capture them.
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Classic Spydertrader quote:
My viewpoint on sharing methods stems from my real world experience with sharing "best practices" in the business world. I freely shared my formula of success with anyone with an interest. Over the years, I arrived at the conclusion that even when I provided a detailed road map to success, the vast majority of people would not do the effort required to follow the path to success. Out of every ten people, One individual will determine they already have achieved a level of success, and require no additional improvement. Two will dismiss out of contempt that which they didn't understand. Two will actually evaluate the plan, but determine arbitrarily, "the plan won't work, or won't work for them." An additional two begin the journey but fail to travel beyond the initial first few steps. Two more progress a great deal along the path to success, but allow an outside influence to take them off track in some fashion. Out of the ten, we have one individual remaining, that possessed the required motivation, willingness to improve, and work ethic required of a successful individual. I have witnessed the same paradigm repeat over and over again within a community of traders.

As a result, I continue to share my methods for trading the Jack Hershey Equities Method knowing full well the vast majority of individuals reading will fail to make the journey.
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Anyone interested that is using QT and having trouble with lines disappearing. Wrote to them recently and they replied with a possible fix. Here is what they had to say regarding this problem . . . Please get the update at http://download.quotetracker.com/download/stocks.zip

and extract the contents of that file into the QuoteTracker folder, overwriting the existing STOCKS.EXE file while QT is not running and let us know if you still have the problem.

Mazel
 
Quote from Spectre2007:

have you guys experimented with using multiple moving averages.
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Hi Spectre,

I myself have not experimented with this. The extent to which we use moving averages (just the 20SMA) is fairly limited in that we use it more as a "guidepost," or something to be aware of and observe, rather than a point of action. If you would like to share any insights though as to how one might apply multiple moving averages in the context of what we do, I'm sure your thoughts would be appreciated.

Regards,
Pr0crast
 
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