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Quote from jack hershey:

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The session was held at the request of those who use the office; it had special interest since all of the qualms expressed here by detractors were able to be covered.

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Those who requested the session, please draw the trendline connecting 950 and 1050 bars, then clone it to the high of 1010 bar.

The resulting object used to be called a channel, then a traverse. Then after years of "doing the work" their differentiated minds finally kicked in and they decided not to call it anymore, but never really settled for a name. After all these years of iterative refinement the meaning of things is still foggy in the hersheyland.

Note the 1100 spike neutral bar and where it closes in relationship to the LTL. Locate hershey's instructions on how to handle those. See for yourself whether you would have made or lost money.

All times end of bar, Fri 29th.
 
Quote from oldtime:

The hardest thing for traders is learning to be stupid. They are fiercely independant and always think they have an edge or know something someone else doesn't know.

When one of my daughters wanted to learn stock trading I told her, "Do as I say, not as I do.'

1. Learn to be stupid.

2. Just do what everybody else is doing.

3. If something is going up buy it.

4. If something is going down sell it.

5. It takes very little brains to trade, use all your brainpower to manage your money.
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I'm not sure this is helpful to a new trader, but it struck a chord with me. If you're a smart guy you can be in a bit of trouble until you learn that there are a lot of not so bright traders ("Pro's"??) out there, and the market reflects that. As Soros once said, the markets are seldom rational. Traders say "the market is never wrong" meaning that one must always trade with the market, never against it. In actuality, though, the market is very often wrong!

One of the things we read often on ET and elsewhere is that you, as a retail trader, are up against professionals, so why would you think you have a chance? Well those twenty something pro's are the same ones losing money every day for their clients, the same ones buying the tops and selling the bottoms, the same ones leveraged to the hilt to be brought down by the landing of a fruit fly, selling CDS's on junk bonds at bargain basement prices, selling out of the money puts because it's "easy" money, and ordering Persian rugs for their offices while looking to the Treasury for a loan. It's the Pro's that go to prison for insider trading, not the retail traders. It is not the skills of the Pro's that put the retail trader at a disadvantage, it's their lying, cheating, stealing, and low overhead. But a good retail trader can overcome this ill-begotten advantage of the so-called professional traders.

As a skilled retail trader, you are not the prey, but the hunter. Our nemesis is not the Professional trader but our aptly named brokers. :D
 
Quote from baggerlord:

10 years ago I started trading as a naive 18 year old. I had the misfortune of finding Jack Hershey first. I blame Jack Hershey and my naivety for 3 wasted months and w blown account. Jack your ramblings may entertain you but you harm people that just might find success with a real mentor.
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Here is a little more detail.

I wasn't here 10 years ago. Bag will tell you where I was on line 10 years ago. depending upon where he choses I was, you will find out whether he was not learning to trade stocks or not learning to trade futures.

My bet is that on either site he did no posts of his charts at that time.

So when did bag become successful/ Checkitout. Who became his mentor?

Can everyone who is 28 recognize they were niave @ 18?

I didn't start trading until I was 25 (1957). What was I doing @ 18? I was washing dishes to earn my meals at college. I was scrapping ice to earn a few bucks more. In the summer, I worked as Western Electric to earn my tuition and room.

I was an MTS at BTL before I ever looked at the WSJ the first time (at 24yo).

I only began the trade when I went to work at IBM and met a guy from MIT who was using TA to trade stocks. Luckily neither of us was niave so wqe just ploughed into it and invented our way to freedom.

All we had was one book: a 4th ed of Magee.

I inked up a chart for 17 pointsof price and ten boxes high for volume below the price chart and six months long (11 by 17 inches, "B" size in mil specs)) on vellum. We made brownlines from it and back plotted 6 months of days so we could trade a stock by charting its channel.

We both made money from day one and we weren't niave and we didn't blame Magee for anything.

Anyone who wanted to join us and make money too. We copied our brownlines for them as blueprints.

Who found appeal in what we did? Not many. BUT those who did learned how to make money.

Did Bag every get over his niaveite? Did he ever get a mentor? What happened to bag after he blew up?

What does is take for a person to be so niave that he can't understand 90% of traders fail?

What was it like to just read a little, make a vellum chart, keep the back page of the WSJ for backplotting?

It was fun. I had a '46 Ford V8 coupe with a police rear end. I got 7,000 miles on a set of tires. I paid 135 bucks for it in college and in 1960 I flew to Europe to pick up a MB 190SL in Kopenhagen. I drove to the Rivera and sunned on the pebble beaches. Now, I drive a V!2 BMW. I owned a 300SL gullwing for two weeks until my wife said to get rid of it. lol....

So you have a choice, excuse yourself as being niave and unlearnable. Or start from scratch and learn all about it by yourself. In between, is a simple independent free thinking untrammelled shortcut. Look at the video we made last Friday and see if the shortcut appeals to you.

Bag have fucked away 10 years by creating a lame brained excuse or something else.

When you have become an expert, how long does it take to learn to help others? Look at the people in the video, how long did it take for them to figure out how to help others?

This was a fun post!!!!!
 
Quote from baggerlord:

10 years ago I started trading as a naive 18 year old. I had the misfortune of finding Jack Hershey first. I blame Jack Hershey and my naivety for 3 wasted months and w blown account. Jack your ramblings may entertain you but you harm people that just might find success with a real mentor.
More...

Thank you for posting the truth. I hope new traders will read what you wrote and pay attention.
 
Quote from jack hershey:

Here is a little more detail.

I wasn't here 10 years ago. Bag will tell you where I was on line 10 years ago. depending upon where he choses I was, you will find out whether he was not learning to trade stocks or not learning to trade futures.

My bet is that on either site he did no posts of his charts at that time.

So when did bag become successful/ Checkitout. Who became his mentor?

Can everyone who is 28 recognize they were niave @ 18?

I didn't start trading until I was 25 (1957). What was I doing @ 18? I was washing dishes to earn my meals at college. I was scrapping ice to earn a few bucks more. In the summer, I worked as Western Electric to earn my tuition and room.

I was an MTS at BTL before I ever looked at the WSJ the first time (at 24yo).

I only began the trade when I went to work at IBM and met a guy from MIT who was using TA to trade stocks. Luckily neither of us was niave so wqe just ploughed into it and invented our way to freedom.

All we had was one book: a 4th ed of Magee.

I inked up a chart for 17 pointsof price and ten boxes high for volume below the price chart and six months long (11 by 17 inches, "B" size in mil specs)) on vellum. We made brownlines from it and back plotted 6 months of days so we could trade a stock by charting its channel.

We both made money from day one and we weren't niave and we didn't blame Magee for anything.

Anyone who wanted to join us and make money too. We copied our brownlines for them as blueprints.

Who found appeal in what we did? Not many. BUT those who did learned how to make money.

Did Bag every get over his niaveite? Did he ever get a mentor? What happened to bag after he blew up?

What does is take for a person to be so niave that he can't understand 90% of traders fail?

What was it like to just read a little, make a vellum chart, keep the back page of the WSJ for backplotting?

It was fun. I had a '46 Ford V8 coupe with a police rear end. I got 7,000 miles on a set of tires. I paid 135 bucks for it in college and in 1960 I flew to Europe to pick up a MB 190SL in Kopenhagen. I drove to the Rivera and sunned on the pebble beaches. Now, I drive a V!2 BMW. I owned a 300SL gullwing for two weeks until my wife said to get rid of it. lol....

So you have a choice, excuse yourself as being niave and unlearnable. Or start from scratch and learn all about it by yourself. In between, is a simple independent free thinking untrammelled shortcut. Look at the video we made last Friday and see if the shortcut appeals to you.

Bag have fucked away 10 years by creating a lame brained excuse or something else.

When you have become an expert, how long does it take to learn to help others? Look at the people in the video, how long did it take for them to figure out how to. help others?

This was a fun post!!!!!
More...

As stated, I blame naivety along with you. Trying to learn from someone that can't put a proper sentence together is really dumb and I take full responsibility for that. And yes I have found mentors along the way and have become a net positive trader. I don't pretend to be anything amazing but I do have some wisdom gained that I can share with newbies. The first advice I would give on this site is to stay away from rambling old liars that pretend to offer something of value.
 
Quote from jack hershey:


So you have a choice, excuse yourself as being niave and unlearnable. Or start from scratch and learn all about it by yourself. In between, is a simple independent free thinking untrammelled shortcut. Look at the video we made last Friday and see if the shortcut appeals to you.
More...


Where can one find this video? Is it available somewhere for viewing?


Quote from jack hershey:

Here is a little more detail...
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It’s always an interesting read when you take us along on one of your trips down memory lane. Thank you for that—there have been too few of those from you lately.

-river
 
Quote from jack hershey:

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Bag have fucked away 10 years by creating a lame brained excuse or something else.

When you have become an expert, how long does it take to learn to help others? Look at the people in the video, how long did it take for them to figure out how to help others?
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More...
Actually it was spydertrader who f*ked away years first by jerking people around pretending he could trade profitably without being able to differentiate between retrace and reversal (i.e. "jumping fractals" as you morons call it).

When his followers finally caught on to the fact that it can't be done, he iteratively refined and repackaged his bullshit by "helping" people to stay on the same fractal. Laterals, pace acceleration, trough sequences - none of that crap actually works. He finally conceded and advised people to trade the trendline breaks when they don't know where they are in the order of events (i.e. not able to distinguish between retrace and reversal).

How pathetic.

His final "help" for people who were still trying to avoid 'jumping fractals' was 5 min ES level traverse, that he advised to use, but he wasn't going to tell them what that was and suggested that they should define it for themselves.

Hilarious.

What is it like when a person like icarus fails to look closely at spydertrader's chart with neatly drawn nested gaussians, then take those charts, slide the open of the following day to the close (degap) and notice that WMCN that was anticipated never came.

Most would agree that their bullshit meter is underdeveloped and they need to work on their common sense.

What is it like when he books a ticket to Vegas and sits through spydretrader's presentation of the trading approach on the chart where price and volume bars are drawn by hand with the marker. When he leaves without throwing all available desert in the room in presenters face - most would agree he is a fool.

What is it like when a person pretends to have a profitable trading approach, when in reality they are still practicing wash trades using crayola bars and camtasia recordings - most would agree that it's pathetic.

My most sincere hope is that icarus is reading this and that he is really offended now.
 
Quote from Nebuchadnezzar:

Those who requested the session, please draw the trendline connecting 950 and 1050 bars, then clone it to the high of 1010 bar.

The resulting object used to be called a channel, then a traverse. Then after years of "doing the work" their differentiated minds finally kicked in and they decided not to call it anymore, but never really settled for a name. After all these years of iterative refinement the meaning of things is still foggy in the hersheyland.

Note the 1100 spike neutral bar and where it closes in relationship to the LTL. Locate hershey's instructions on how to handle those. See for yourself whether you would have made or lost money.

All times end of bar, Fri 29th.
More...
Why don't you post your chart for Hershey to reply? Include the "degapped" carry-over starting from 14:50 or earlier.
 
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