Spydertrader's Jack Hershey Futures Trading Journal

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Everybody can learn to drive. Not everybody can become a champion car racer. But still everybody can win his bread as a trucker or a taxi driver. Just know your limits, and don't try to race through the streets ... :)

As a trader you have one more great tool: compounding!

They lied to us (in school, family, media, etc.): not everybody is a winner! But everybody can be a decent man.

Many people posted on this thread their positive results. What more do you expect?
Quote from Jander:

... This is why it's so frustrating that we dont talk more about actually making money in this thread. Most folks by now can draw perfect charts and I just dont see that translating into pulling money out of the market. ...
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I replayed the day again and tried out IF1/IF2 with APA. Stopped at bar 18. First trade was on break of first bar, after each trade went into APA mode until end of 5 min bar.

PointOne, is this similar to what you have been doing?

BarId

2: short 1519 (IF2) APA mode, reversals @ 1520 & 1519 (not required)
3: IF2 not triggered
4: IF2 not triggered
5: IF2 long 1520.25 (IF2) -> APA mode reverse short @ 1519.75
6: IF2 not triggered (1519.50)
7: IF2 long @ 1519.75 -> APA mode reverse short 1519.25
8: IF2 long @ 1520.00. No APA, reverse done on last 1 min bar of 5 min interval
9: IF2 not triggered (1519.00)
10: IF2 short @ 1518.75 -> APA mode (not required)
11-17: IF2 not triggered
18: IF2 long @ 1516.25 -> APA mode reverse short @ 1515.75


Selective execution of IF1/IF2+APA used with other tools from the Hershery method will definitely give much better results.

EDIT: I only choose to go until bar 18. Results here do not mean to claim IF1/IF2 works or doesn't.
 
Quote from cnms2:

What more do you expect?
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From Page 1 of this journal:

Quote from Spydertrader:
As such, during the first few months of 2007, the Journal will have more of an educational feel to it. I encourage everyone to ask questions, post charts, create input or provide commentary consistent with the goals outlined above. Later in the year, I plan to shift the focus toward execution. Although education remains an ongoing process, shifting the focus to the implementation of the methodology provides a logical conclusion to everyone’s efforts.
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I was hoping to learn a bit about how to implement the things we have learned over the past year. The positive results you speak of are a spattering of people pulling a couple of points here and there using setups (pt3s), a group breaking even, and a large majority cant get off the sim because there are no fake dollars being made. Perhaps I am exaggerating? Who knows. Apologies if so.

This thread has been the equivalent of a book. We have now reached the glossary and are ready to trade, except that chapter was not included? I do not perceive that the intention of this thread was to be this way, but it seems this is the result. I guess my question is 'Is this the end of the road? Are the 'realtime video examples' coming?
 
Quote from bi9foot:

PointOne, is this similar to what you have been doing?

Selective execution of IF1/IF2+APA used with other tools from the Hershery method will definitely give much better results.

EDIT: I only choose to go until bar 18. Results here do not mean to claim IF1/IF2 works or doesn't.
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Yes.. Please explain PointOne if you feel so kind

Quote from PointOne:


A brief list of its attributes off the top of my head:

It prevents early entry and exit errors.

* Agreed here

You learn to wash.

* But it seems to wash so frequently as to erode profits

You learn to be comfortable always in (volume permitting).

* Agreed - Do you exit during lunch/ccc ?

You rack up the points when there is a trend (and notice laterals very quickly).

* I noticed you get chopped up horribly in laterals, do you just ditch if1/if2 at first sign of lateral?

If you are itching to take an action well before an IF2 is triggered then you know you are improving.

* Agreed
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I reiterate my recommendation: read and re-read the threads Spydertrader listed in the beginning of this journal!

Also, be realistic in your expectations for what you can be given by others, and what you have to come up with by yourself in order to use profitably this method!

It's not that somebody doesn't want to give us more: there is nothing more, or at least there's nothing intentionally left out. This is my experience and my understanding. The key is the mind shift(s) that each one of us has to make, and there's no substitute for it (them). Until we calibrate our expectations from this learning process we can't make this mind shift. This is why there were so many that studied hard this method for very long time, and that are still not there yet.

Ask your specific questions one at a time, and try to perceive the thinking that is behind those offered answers. If they are coming from trustworthy posters (Jack, Spydertrader, and / or others), and still seem incomplete or wrong, firstly question your perception of that information and work on it.

Good luck!

PS: IF 1 IF 2 APA is not the solution. It's just another useful tool if used when and for what it was intended.
 
Quote from Jander:

This is how I would expect it to unfold... I think the orange channel is too big to focus in on those couple of bars and expect some kind of immediate price action ... just my opinion
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IMO this is a little early to say. I would like to see the green RTL tested again or the high of that current bar to be taken out (by the next bar(s).

regards,
Ivo
 
Can someone point me to the flaws description and how to spot them? I was looking at the syllabus, and it states that it should be in September but I could not locate it by going through the whole month of Sep. TIA.
 
Quote from Jander:


...
The positive results you speak of are a spattering of people pulling a couple of points here and there using setups (pt3s), a group breaking even, and a large majority cant get off the sim because there are no fake dollars being made.
..
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Also don't forget that people tend to post just their successes. Not their failures. I am speaking for myself because I was eager to post a couple of points of profit. Right now I just decided to not post any results anymore. It doesn't help others.

regards.
Ivo
 
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