why this board isn't healthy if you trade for a living

Quote from suma66:

Seems like you really put it to the test. But T666 has 50,000 links that say Jack is a complete fraud. You give him some credit I see.
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Do you need to see this list again?

Quote from MandelbrotSet:
  • Atticus
  • Lindq
  • Jbt
  • Bwolinsky
  • TSGannGalt
  • sjfan
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Here is part of the last post made by ScottD regarding the jack hershey Cashcow ATS, before he fell of the grid: :D

"... the logic has not been profitable over a sustained multi-week forward test or multi-month back test period."

Link
 
Quote from suma66:

Seems like you really put it to the test. But T666 has 50,000 links that say Jack is a complete fraud. You give him some credit I see.
More...

The biggest problem I have with Jack is that he doesn't talk about trading systems the way someone who has written them for years does. I don't think he has the capability to prove his systems. He's rambled on for years on this site, when posting either a TS version or WL version would have sufficed.

Instead he spends untold hours writing mindless, ritalin drivel on this site. I've posted at least 50 published chartscripts on wl4.wealth-lab.com under the alias nexial_1002002 . When those started appearing they were written by spydertrader, so I'm in the end, not sure who gets the credit for putting pen to the paper. If I had to say I think spyder did more of the work than Jack did.

Jack posts about psychology that any rule based strategy trader would know is irrelevant. I don't think Jack is sane is what I'm really saying. There's no point in beating the dead horse about a decade after his first appearance.

These are the results I have for Jack's script taken from spydertrader's publishing at wl4.wealth-lab.com using the program I've posted already since 9/1/2008 on .SPX with 15 minute bars buying SDS and SSO rather than shorting or buying the futurescontract.
Long + Short Long Only Short Only Buy & Hold
Starting Capital $100,000.00
Ending Capital $1,215,616.33 I would note this is 100k to 1.2mill, not 10k to 1m.
Net Profit $1,115,616.33
Net Profit % 1,115.62%
Annualized Gain % 2,871.29%
Exposure 42.88%

Number of Trades 46
Avg Profit/Loss $24,252.53
Avg Bars Held 25.52

Winning Trades 38
Winning % 82.61%
Gross Profit $1,644,812.19
Largest Winning Trades $192,894.52
Avg Profit $43,284.53
Avg Bars Held 23.37
Max Consecutive 17

Losing Trades 8
Losing % 17.39%
Gross Loss $-529,195.86
Largest Losing Trade $-235,749.42
Avg Loss $-66,149.48
Avg Bars Held 35.75
Max Consecutive 2

Max Drawdown $-377,782.00
Max Drawdown Date 3/4/2009
Max Drawdown % -29.12%
Max Drawdown % Date 3/4/2009

APD 0.5096
APAD 0.9095
Wealth-Lab Score 4,746.6722
RAR 6,696.7506
MAR 98.6029
Profit Factor 3.1081
Recovery Factor 2.9531
Sharpe Ratio 2.9248
Sortino Ratio -2.9248
Ulcer Index 8.1076
WL Error Term 24.4350
WL Reward Ratio 117.5075
Luck Coefficient 4.4564
Pessimistic Rate of Return 1.9238
Equity Drop Ratio 0.0016
K-Ratio 0.1080
Seykota Lake Ratio 0.0795
Expectancy 0.7806
Expectancy Score 53.4747


What you'll notice is the big caveat emptor. The length of the backtest is only about 8 months. I need to see at least 1 year of data to make sure it doesn't completely collapse.

There's some key differences in his script. The biggest is the exit on close. This doesn't work, so this actually holds until we get to those levels. Some of the exit conditions are optimized for the correct HersheyStochk levels
 
Quote from bwolinsky:

The biggest problem I have with Jack is that he doesn't talk about trading systems the way someone who has written them for years does. I don't think he has the capability to prove his systems. He's rambled on for years on this site, when posting either a TS version or WL version would have sufficed.
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Thank you,

We have reiterated this statement over and over again, only to have our posts deleted and removed from the website. You had better archive yours if you don't want it to dissapper.

Quote from bwolinsky:

Instead he spends untold hours writing mindless, ritalin drivel on this site. I've posted at least 50 published chartscripts on wl4.wealth-lab.com under the alias nexial_1002002 . When those started appearing they were written by spydertrader, so I'm in the end, not sure who gets the credit for putting pen to the paper. If I had to say I think spyder did more of the work than Jack did.
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Ouch

Quote from bwolinsky:

Jack posts about psychology that any rule based strategy trader would know is irrelevant. I don't think Jack is sane is what I'm really saying. There's no point in beating the dead horse about a decade after his first appearance.
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Just in case anyone is wondering, bwolinsky is a neutral party posting his own observations. He doesn't have a dog in this fight, and he most definitely is not on our "side".

Because there is no "side", there is only Right and Wrong, and obviously jack hershey and the Hershey Stooges are as wrong as wrong can be! :cool:

G'night Folks
 
Quote from MandelbrotSet:

Thank you,

We have reiterated this statement over and over again, only to have our posts deleted and removed from the website. You had better archive yours if you don't want it to dissapper.


Ouch


Just in case anyone is wondering, bwolinsky is a neutral party posting his own observations. He doesn't have a dog in this fight, and he most definitely is not on our "side".

Because there is no "side", there is only Right and Wrong, and obviously jack hershey and the Hershey Stooges are as wrong as wrong can be! :cool:

G'night Folks
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Seriously, manny, let's try to leave one for posterity. We should close the thread, before things get too personal and the inevitable personal attacks start appearing.
 
And what does that say about its overall viability? :p
Quote from bwolinsky:

<i><b>WHY DOESN'T JACK'S METHOD WORK?</i></b>

It's only for .spx data in WL. Trying in any other platform will fail because the volume data is not the same. It's not ES data, it's a special .SPX dataset in WL.
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Quote from bwolinsky:

Seriously, manny, let's try to leave one for posterity. We should close the thread, before things get too personal and the inevitable personal attacks start appearing.
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They always get personal anyway.

We try to be rationale, we show the posts of other traders on the site (many of whom are professionals in the financial industry) who call out the absolute nonsense in jack hershey's posts, and we're treated like we are the ones with a problem here.

I'm just calling the bullshit for what it is!
 
So after all that bullshit, did you finally let it go. Did you say enough is enough, I'm going to "move on" from Jacks shit and work on something that works for me??

I'm trying to find out why Mandelbrotset and Trader666 just "won't let it go" despite all of the obvious reasons you people keep bringing up regarding Jack not knowing what he's talking about.

There is a line between disagreeing and relentlessy obsessing over the fact that you don't think something works. Mand and T666 are waaaay over that line.
 
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