Firsthand reports from a participant: http://www.elitetrader.com/vb/showt...920&highlight=paltalk+jack+hershey#post444920 "I have read nearly everyone of your posts over the past year (with many days/weeks of time invested in your methods) and have yet to perform at $600+ a day per contract. After having said that statement above...three things are possible....#1- I have not understood your teachings....#2- something is wrong with me or my EQ....#3- I will let others fill in this reason. This post is about my frustration to get to a performance level to the likes of which you speak here. I was in the PalTalk room many weeks where you would come in for an hour or two. To be honest, your trades left me and others in the dark many times. (eg. we would get long and as the trade went south we would be down a few points then told to take profits..... or you would have to leave because of your health) Simply put, a consistent $600.00 per contract was not possible trading your calls. You state your health as the primary reason for not returning to PalTalk while you continue to post many times a day here because it's "fun". You also state that you have an "apprentice" by your side while you and him/her trade and make this large amount of money on a consistent basis. I have never heard from one of your students. I would think that with your selection process of finding apprentices that you could find one willing to share something with us. Sitting next to you while you trade would shorten up the learning curve immensely. Your students need to speak up. If your student or you can trade (buttons need to be pushed)...I would certainly think they could push the control key and say "I went long" or "I reversed". Quite frankly, I would love some proof that all this works. I want consistency. eg...The INDU-YM relationship will work one day...the next 4 days it does not. A rocket will work one day and the next 3 days it will take all the profits away. Every indicator works great on certain days but one has to know when NOT to take their signals. Some days a simple stochastic will bring you 20+ ES points.....while the next day it will take 15 away. Trading is all about risk/reward and supply/demand. Trading is very much an art form when using discretion. Jack...I ask that you or your student's make some realtime calls in a chat room. Pulling down a consistent $3,000.00 a week per contract (sometimes scaling with 2) is something that is spoken here but few believe. I know it can be done occasionally but this trader would love to see it occur in action. If it was, you would have many less critics on ET. Simply put......"Show me the money" I consider myself a disappointed student of Jack Hershey. Question for you.......Should I continue to read your posts in the quest to become a better trader? Thanks for your time. Sincerely, A good trader that wants to become great."
It's so sad it's almost funny seeing through the years all the "victims" of Hershey. I really have no idea if he can trade for real or is just a conman to get people to over trade. I haven't personally verified. Always assume the person on the other side of your internet connection is a liar until proven otherwise. Have you ever spoke with jack and had him walk you through anything personally via skype or in person? Have you seen evidence that he is successful and verified it? Also not every method works for each person.
There's nothing wrong with you. You'd get the same vagueness and pretty 20/20 pics had you been a Woodies CCI Club disciple instead...and just as worse off for the wear. The truth about either methodology is found by understanding one simple thing...Occam's Razor. Trust in the most simple explanation as to why the results, after much due dilligence and practice on your part, just never seem to add up. Even if you just had a 45% winning pct system on your hands with a 1.8 win/loss ratio after slippage, your intuition would tell you within a week or two of daytrading it that you were on to something good and sustainable. [You are far better off trying to trade the CL. The volatility will give you more opportunities to bounce back.]
So great that you found such a recent post. 2004 was only 8 years ago! LOL Who CARES whether Hersh posts trades or not. Just TRADE your own method. And if you don't have one yet, do what others have done....create one. Yeesh.
I've never been a disciple of JH or had the least interest in his "methods." But if you just read a handful of his posts, one thing is clear...Jack doesn't "walk through" or "explain" anything. He obfuscates. You'd probably be better off going through all of Gann's crazy/cryptic work and trying to patch together the secrets that supposedly made him a successful. And some people have spent half their lives doing that to no avail...
I learned an awful lot from Jack.. Following him led me to read up on psychopths... not that a psychopath couldn't actually know something but they love to see people suffer.. that suffer thingy, it's offputting.
So Jack has had the same stuffy nose for 8 years now, preventing him from making a single day of legitimate real time calls on the Internet for his legion of anxious devotees? I can only imagine how he wishes he were well enough to do live for his Internet audience what he reportedly does practically in his sleep in the privacy of his own home, day in and day out. How unfortunate for his pupils that these Internet maladies can be so debilitating.
They are lucky I didn't post my response to that post. LOL It took two posts. DKM posted the name of the Paltalk and the thread got exhausted. I was only doing 10 mentoring sessions a week at that time. The open is short tomorrow. The first of three moves on the short is almost complete. I had an entry short on bar 1 and a reversal on bar 1 that had a "kill" override the reversal (or prevent it). Then I did 9 trades including a would be reversal on bar 78 (I just did an exit). The prints I posted in that thread were from computers used by persons I ws mentoring. A print that the IRS could never understand was funnier than most. It has also been posted here. I looked back the 8 years and saw I had only been trading 44 years at that time. I was piloting a glider (Grob109) for three hours twice a week 5 or 6 years before that time too. I was only 70 then..... lol.