Hi there, girls and boys! My first post…and thread (at once) I don’t really know where would be a best place to post this - for this task I have… It can’t be put just about anywhere… So I will put it on ‘’Trading’’ forum. I wonder if anyone can help me. Or please ask others who are great experts of the Late gentleman... Some years ago I stepped onto Mr. Jack Hershey’s statement (or some of his 2 additional ''aliases'')…which goes if I’m remembering it correctly, something along the lines: ‘’This won’t work in forex’’ ‘’This won’t work in futures’’ ‘’It won’t work for forex’’ Etc... Something in accordance with forex/futures…(or similar) As if what he was ‘’preaching’’ (or at least one part of it) won’t work in forex... I think it was forex… Statement is as such as I wrote it or something like that. Or maybe someone else told that in connected discussion... I can’t find it, for years, but I think I saw it...when I was going thoroughly through all he wrote… Obviously I would like to find that statement and then to see how others are contemplating about it. Also all other statements from Mr. Hershey about forex / futures are more than welcome. If there are any... --- Thank you very much!
Oh, I'll answer the troll... Hershey teaching is said to be not applicable to forex due to the methods reliance on volume, which does not exist in totality for forex. YMMV depending on your knowledge and understanding of Hershey teachings, as some forex volume data has emerged since the method was originally taught. As for futures, Hershey methods are TUNED for futures, ES as the prescribed instrument (applicable to other instruments with decent volume/liquidity as well) using prescribed time-based charts of 5 minutes. Threads exist here in ET and elsewhere, with literally 1000's of posts explaining.
I’m sorry but why everyone in this world is firstly assuming new members or someone else - is trolling? I certainly don’t have the time for trolling. (It is childish to waste our time in this world on non-productive gibberish) Yes, of course! tiddlywinks, your explanation vis-a-vis futures, short and brief is very nice and it was possibly my mini mistake (due to not thinking perfectly clearly about every detail in the moment of writing of my first post) because in futures there is a volume, and in forex, there is a tick volume or particular broker volume, or many brokers together added volume and so on. That is very obvious and LOGIC explanation. And I know it… But I was in my head I guess still assuming it was something else, other than that – I guess! You know? Because if you know markets... And stocks are different to Forex… Because FX is maybe mostly just bank deals and who knows what else ‘’monster’’ and stocks are hm...still by my reasoning...different… Stocks are still miniscule investments or so, but money such as EUR/USD/GBP...they are a totally different Monster markets...and are traded around the clock and around the world! Et cetera... But now I reckon it could be very easily this - what you just mentioned! But still – I worry if Mr.Hershey meant just that – >>volume<< or is it still much more to that… As I said now and explained hopefully more thoroughly. Cheers and any other useful info’s are more than welcome.
Your post comes across like trolling simply because: 1) In the same post, you're soliciting women in a trading forum instead of a dating forum. 2) A simple search with his name and forex brings up two pages of results, the first of which answers your question. 3) You are asking about a controversial figure whom prolific thought-provoking posts stimulate negative emotions from those with closed-minds, fossilized beliefs and too lazy to do due diligence in a thorough and methodical manner. 4) If you had done a bit of research you would know that forex and equities are composed of fragmented markets. Futures are within a centralized exchange and also exhibits characteristics during RTH of a liquid instrument. Jack never said that his methods don't work in futures. As tiddlywinks pointed out, it's finely tuned for futures - specifically the ES. The methods he put forth shine in liquid instruments (and times.) If you are just starting out, better to start at the beginning with his PVT system. As you build on the initial concepts (Dry Up, Unusual Volume, FRV, Building a HQ Universe, Cycling, PV relationship, FTT, etc.) and have insights on the underlying principals and how they dovetail, THEN you can apply them to the edges which in this case is what trading forex would be classified as. Forex is highly levered and sophisticated. There are no shortcuts in understanding Jack, best to suck it up and start at the beginning. Also best to read for comprehension vs to get through a thread - that includes printing out threads and marking up margins. Copious notes, 3-ringed binders, pencils and erasers are your friend. Start by building and frequently updating a glossary. Concepts and principals build upon themselves and without building a continuity of context it'll be confusing and frustrating as the posts of detractors and disparagers are self-evident demonstrations thereof. He is also the real deal and delivers in spades but if you need proof before undertaking the journey to a more inclusive view of the market, there is more discernment to be had in other areas of one's life. He posted via open source, to pass it forward, fix main st. problems and if that's not how you are heart-oriented, his methods will drain your account in a blink of an eye,.... by design. There are simpler methods for simpler people with corresponding results. For me, when first reading his posts, I couldn't understand Jack, it took me working with Spydertrader's posts for a yearish before I gained enough background concepts in a structured manner to approach Jack's work. YMMV Best Wishes and Good Fortune to You !
Whoa, is the holiday season getting to people? Where, anywhere, in that first post (or even the second) is RobinH (now known forever as Robinhood, says the big furry hat,) soliciting women? Sprout, send me some of your seeds, I need them!
He edited his original post. I passed on replying until tiddlywinks took the bait to which I came as backup (not that he needs any.) Tiddlywinks has been essential in my understanding of Jack latest work with the supply of some crucial info at specific times in my inquiry. Even though we don't agree politically, he has my enduring appreciation. If there is a seed to pass on, it would be to stop looking at your p&l and start posting annotated charts and get into the practice of logging bars. There is so much information content that could be progressing your trading in such a positive manner that just flys by your conscious awareness. I do enjoy your humor and music tastes though, wishing you good fortune in any case.
Ahh, I missed the original unedited version. Then just ignore my response. But you can see that as the original post now stands, your response does look like my response was innocent.