It is better to let them alone and to let folks make up their own mind as to whether Jacks teachings are valuable or not. Some will not find them to be of value.... But some will.
Here is the voice of reason. ehorn you are absolutely right. But what I think you are missing is that these anti-jack threads serve absolutely no purpose with regards to trading, jacks teachings, or people making up their minds... the only purpose of these threads is entertainment value for sane people and an addiction for retards.
Says the lying lowlife who was banned for posting gay porn in his desperate attempts to please his master, Jack.
Back to our regularly scheduled broadcast... Jack churns out kooky, unsupported claims like this: I do reach my goal of 3x H-L in ES as a practice. http://www.elitetrader.com/vb/showthread.php?s=&postid=912447&highlight=#post912447 But in reality he LOST 24% in a trading contest and unsuccessfully tried to obfuscate his way out of it on Usenet: http://groups.google.com/group/misc...a927db8ba840?hl=en&lnk=st&q=hershey+loses+24# He also tried to BS his way out of yet more of his sinking stock picks that lost $22,000: http://groups.google.com/group/misc...d/thread/981513b3a003f259/2db2e88d1407af42?hl In Oct 06 Jack told his former IBD Group that he would turn $10 thousand into $1 million in 100 days and post updates on ET. IT DIDN"T HAPPEN. http://www.mediafire.com/?1gi2qygm3yh No surprise, because if you backtest his model of the price, volume relationship by buying the "0 to 7 turn" described in "Tomorrow's Paper Today" and sell 5 days later with 1000 stocks over 5 years you'll get an equity curve like this: <img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=2014607> Which looks eerily like the equity curve you get when you test his "rocket" methodology: <img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1112121> Kind of what you'd expect from someone who thinks stochastics is a leading indicator: http://www.elitetrader.com/vb/showthread.php?s=&postid=1302778&#post1302778 Of course Jack and his followers try to blame the failure of his "methods" on the backtester, so listen to Jack brag about this trade in his own words: http://www.mediafire.com/?0ielxnmeiro <img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=2023032> Jack claims ScottD is still working on Cashcow... even though ScottD's last post on ET was in March, 2009 and in it he said that Cashcow 1.2, which had been certified by Jack, was not consistently profitable. I've asked ScottD for an update here: http://www.elitetrader.com/vb/showthread.php?s=&postid=2438060#post2438060 Here's another Jack Hershey success story: http://www.elitetrader.com/vb/showthread.php?s=&threadid=113310&perpage=6&pagenumber=2009 Some unfortunate newbies who get sucked in by Jack's pied piper routine start out ingratiating and actually believe Jack is giving away the "keys to the kingdom." But this one eventually came to his own conclusion that Jack is "nuts": http://www.elitetrader.com/vb/showthread.php?s=&postid=1940582#post1940582 How far down this path do you want to go?
Some people will say or do anything to keep their fantasy life going here on ET ... it comes from never having succeeded in the real world ... oh well jack, better luck next time. Here's a send-off from the real traders (not fake-LOL) here at ET: atticus thinks he's schizo TSGanGalt thinks he's a fucking idiot (my vote) lindq thinks he's an asshole (my vote 2) and jbt think's an annoying bore
Yep, that's what he does, gives up and runs away. Typical jack call ... a fade on every trade. Just ... LOL. Jack probably thinks the indicator moves price ... *Ditto* The system was another jack hershey failure, so ScottD turned tail and ran rather than face the truth (sounds kinda familiar, doesn't it)? Hell, that's nothing. You wouldn't believe the PMs I get from noobs who are losing their ass trading the system, and need some helpl! :eek: I think you've demonstrated enough of jack hershey's Success Stories for one evening, don't you?
LOL, and he has amazing endurance! He's on here morning, noon and night. Fighting the good fight to protect the rights of all SCT Traders to completely lose their ass in the markets like thisguy: P.S. The market was in an obvious downtrend on the day in mention, LOL.