I have been looking at this strategy for a few weeks now. For those of you not familiar with it, it is reccommended by Jack Hershey for beginners and uses the MACD and Stochastic on a 5 min. chart for signals. When the 14,1,3 sto crosses the 20/80 and the 5,13,6 MACD histogram is plus +.4 or -.4 you go long or short when the slow line crosses and exit when the fast line crosses back. I have learned a lot from Jack so when my initial impression of this trade was negative I figured I must be missing something but after quite a bit of research it still looks to me that this setup often puts you in the market with a terrible entry. I would like to know if anybody is using this trade effectively. One person said he waits for the five minute bar to complete and then enters on the break above/below this bar but this did not improve things from what I could see. There must be some other qualifiers for this thing to work.