I mock Jack Hershey because he sounds like a wannabe Dennis Miller in every post. Plus trader28 does an effective job at making laughs at his expense. But does his methods really work though? Is anyone profitable trading STC?
I know that you're posting in jest, but doesn't he claim that you can capture something crazy like 3 x the daily range with his method? That should give anyone who questions his method their answer.
Trying to always be on the right side of the market is all about losing money as fast as possible, losing 3x the daily range is not difficult at all.
Funny quotes but I don't have any compassion for these clowns. I'd still consider myself a newbie. I've been part-time trading for a couple of years and mildly profitable, but anyone that's traded longer than a week, should be able to see through that jack hershey's bs at first glance.
Well, if it "works," are you sure you're using JH method? It is so ambiguous and subjective that any "practitioner" of the "method" would be lying if they claimed they were using JH method. No one knows what JH method is! Sure, they think they know, but the evidence is in and is this: the "method" hasn't been explained clearly enough to permit an unbiased observer to replicate it. JH is like a brokerage salesman, looking for more commissions -- always in, never a loss. He will tell you about compounding, assuming that you don't have any losses, but will not tell you about the risk -- typical brokerage salesman.
Usually the Jh clowns disapear for a few days whenever the new issue of HUSTLER, PLAYGIRL and or MAD comes out.
especially when MAD comes out. I am not so sure they like girls. They even have MADa in their "method!"
I tested buying Jack's "0 to 7 turn" and exiting 5 days later, on 1000 stocks from 2000 to 2005 -- a total of 5000 stock-years -- using spydertrader's code for scoring and got the equity curve below. (see Catch Up With Tomorrow's Paper Today, attached)