What is "Jack Hershey's Method"?

I wont say its been an easy or quick learning process, on the contrary, I've spent many many hours learning (and still am) the intricacies of how the market Im trading operates. Working through the method in the journal has given me that necessary context and the rules and structure make it possible to understand exactly what to look for.

Yes, I am trading w/ 1 lot and the reason I say, with confidence, that I will do better than I did before is because I can see it happening daily. My numbers with 1 lot may not sound huge (+150 net, +450 net, +75 net etc) now but once I am trading 10, 20+ lots those numbers will really skyrocket. And I keep improving every day. I have no reason to believe I will get worse as I get more experienced.

Also, I would have made a ton more in stocks but unfortunately liquidity issues were too great. Usually when I knew it was time to get in, I'd only be able to grab 1000, maybe 2000 shares. Then Id catch my .20 and move on. The trade was very "capped". In futures though, those same moments where I just know it will work (90% sure, had to throw in the disclaimer :) ) with the ES I see like 400 on the offer side. I take my 1 lot and then price shoots up 1pt or whatever. The liquidity is very good and this, along with the method are why I believe I will do very well in the coming months and beyond.

As far as the 3X daily range, always in claim. I'll get to that bridge when I am ready. But for now, the baby steps I am taking is really the best approach for me.


Quote from Thunderdog:

I'm a bit surprised by your post. Why is it that many Hershey followers assume that people who choose to trade in their own way are "unwilling to do the work" and assume, at least implicitly, that they are lazy? Why is it unreasonable to question the integrity of someone who has repeatedly made outrageous claims and has yet to substantiate them? Why are supposedly reasonable people not troubled by this very fact? Where there is one lie, there are usually more. Just like ants and cockroaches.

You say that all you know is that you are going to blow your old numbers out of the water within 6 months. That's quite a statement, because your old numbers were quite impressive and very consistent. So, how can you be so sure? Have you started dabbling with a contract or two, and does it pan out as advertised? As a reasonably seasoned trader, what fosters such certainty in your mind?
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Quote from thenewguy:

Because they ask over and over and over again for proof (which is on here, which is being continuously supplied as well...
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No, it is not. It is not merely a question of profitability. It is a question of the absurd profitability claims made by Jack. I don't care if you trade profitably. So what? You seem to be overwhelmed by simple profitability. However, I do care if you can make 3 times the daily range, and average 4-7% per day. And if you claim it, then I want to see it. And if you won't show it, then don't claim it.

CAN YOU SEE THE DIFFERENCE?
 
Quote from jack hershey:

What is jack hershey's Method?

I am posting this as a courtesy to those who wish to know.

The reporter's list for a news story is a common approach to getting a story on the table. This is focused on the "WHAT" part.

A one pager will suffice.

I have created a system. There is nothing new in it but the system is unique.

A system is composed of a structure, a process and the system delivers results.

The results vary according to the user and that is where performance is measured in terms of efficiency, effectiveness and optimization. Most people who use the system find that they do better than they have ever done before.

The process of the system is a routine done only in the present and it is comprised of four parts: monitoring, analysis, decision making and taking timely action.

Monitoring is done using a display and taking data sets.

Analysis is pairing a data set with the appropriate element of a finite conclusion set.

The finite decision set is comprised of five elements, one of which is paired to the selected conclusion set element obtained in the analysis.

Action is required each time the routine is done. Holding is the most common action.

To finish up, the structure is enumerated. The system is a template that can be applied to any market; the template is a pool extraction paradigm. It is a pairing of the market and a person who trades by a division of responsibilities. During RTH's money is extracted using three principles and the governing theorem of the market variables, the P, V relation. The three principles are:

Money is made as price changes.

you have to be in the market to make money.

You have to be on the right side of the market to make money.

The trader fits the common financial industry description of the informed, parasitic, front runner and anticipator.

The market is displayed to provide sufficient data and data processed visuals for each level of trading skill (proved by profit money velocity).

Subtending the displayed market and the routine done by the traders are trading platform and a logic display that determines the amount of extraction that is possible at any given time.

Logs are kept, debriefing is done, and captal is used according to limitations imposed by the rate of pool extraction possible.

Learning is done on the template in stocks first (PVT), then commodities (SCT), and then sector rotation. What is learned is the finite conclusion set, how to monitor, how to analyze, how to decide and how to act. Practical things are learned as well; these include logging, debriefing and setting up applications of capital and sweeping capital periodically.

There are several levels of skills(6) and with these are associated levels of capitalization. There are upper limits of capital application determined by the markets.

Not all people can do PVT and SCT. They elect out for several external and internal reasons. If you have a belief system based on the conventional ortohdoxy, you will not be able to understand or do PVT or SCT. You made this choice. If you want to do PVT or SCT, then you must choose to do the work to learn what is needed to do PVT or SCT. Anyone can mix parts of this into anything; it may or may not work out; that is your responsibility to determine.

As someone stated, anything great can be written on one page and as another stated, it is impossible to write something that explains anything on one page. I think that making money is easy but it is hard to do the work to learn to make money easily. This thought is well proven by ET forums. People in ET who are not making money as it can be made, have not done the work. Inventing is not doing work; neither is criticizing those who have done the work. I have done the work as you may find out by working too.
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Jack, I have to take my hat off to you for your entertaining posts all these years.

Absolutely the most fun on this site is to be had in watching "traders" (ha) get into the weeds trying to pull something out of your verbiage.

I suggest that you print out all your posts...create a completely nonsensical title to match the content...then submit the manuscript to Wiley publishers.

You'll make a fortune.
 
Quote from Thunderdog:

No, it is not. It is not merely a question of profitability. It is a question of the absurd profitability claims made by Jack. I don't care if you trade profitably. So what? You seem to be overwhelmed by simple profitability. However, I do care if you can make 3 times the daily range, and average 4-7% per day. And if you claim it, then I want to see it. And if you won't show it, then don't claim it.

CAN YOU SEE THE DIFFERENCE?
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Ok, if that's your concern then you are correct, there is absolutely no way I can prove that Jack can make 3 times the high-low range of the ES each day. If that is what makes you believe or disbelieve his information is worthwhile, then I suggest you move on and stop harping on this topic.

Also, you've now laid out a rule that I guess we are all supposed to live by. I promise I won't make any claims that you may not believe, becasue personally, I have absolutely no interest in convincing you of anything.

TNG
 
Quote from optionpro007:

I wasn't being sarcastic at all.
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You can't possibly take Jack seriously!?

Jack writes a wonderful parody of all the trading gurus we've come to know and love.

He sits at his screen and laughs his ass off at the responses to his posts.

And so do I.

I would just LOVE to see him as a talking head on CNBC some day, explaining his approach to technical analysis. Great fun.
 
Quote from Steve Tvardek:

... My numbers with 1 lot may not sound huge (+150 net, +450 net, +75 net etc) ...
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earn when you learn, is there anything better? :D
 
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