I find it pretty amazing that the name "stocktrader" was not already taken before now. Yep, gotta admit I was really surprised when I entered the name stocktrader that it was not rejected. I can only assume that nobody tried to use because they all assumed it would allready have been taken, just goes to show doesnt it. Thanks for all the replies so far, hopefull there will be some posters that can vouch for Jacks systems, we will have to wait and see.
JACKS THE SAME CAT WHO REPLIED TO THE -- MACD DIVERGENCE THREAD-- WITH '' SKIP IT '' THEREFORE I WOULD '' SKIP HIM ''
P.S. Get off your lazy butt and test his strategies yourself (realtime simulator so that you don't risk any of your own money) and come back at a later date and post your results...that'll have more impact than the lame way your currently trying to do it. I am not sure how familiar you are with Jacks posts, but it is not at all easy to understand his methodologies, what I am trying to find out from other posters is it worth the tremendous effort to try to get to grips with Jacks stuff or is it better to ignore it all. Jack decided himself to come on here and offer advice to people and to provide details of his methods, I can not see anything wrong with asking questions of other posters to see if they have put what he has to say into practise.
Surely there's someone here at ET that understands how to properly backtest that'll be able to test Jack's stuff? I suggest you take a look at some of Jack's posts, I know very little about back testing but what little I do know, makes me think that it would be a very difficult task to try to back test his ideas, however maybe someone on here will take up the challange.
stocktrader, I won't apologize for my abrasiveness in my first response to you... I will admit I am not familiar with Jacks trading methodology (I've read a little but have not tried it...the same with stuff by other ETers) nor do I personally know anybody that is using Jack's trading methodology other than those that are posting in Jack's thread... Also...there is nothing wrong with some of your questions about his trading methodologies... that's what ET is about in my opinion... to share...critique...learn and then decide if something merits further investigation. But the other stuff that you said belongs in chit chat in my opinion. Once again...the question that you posted below is a good one... I hope you find your answer and hopefully someone can backtest it for you if you don't know how. NihabaAshi
Let me see if I understand all of this - you want someone to explain, and or prove Jack's methods for you. May I ask you a question - why should anyone? If you think it's bullshit - ignore it. If you think it may have merit - do the work, rather than expect someone else to hand it to you on a silver platter. You might also want to read How to win friends, and influence people.
I have been reading through some of Jack's posts recently. I have to admit, I cannot understand many of his posts. It seems that he has many interesting things and methodologies to teach, but I just can't understand his use of the English language. His posts just don't seem to make any sense to me. However, since there are so many here that do understand what he is saying, from the constant praises in various threads, I'm lead to believe that maybe I don't understand him because I lack some background knowledge in his methodologies. If this is the case, I would like to know what I would need to read or study in order to figure out what the hell Jack is talking about. For example, I haven't read William O neils book, so that might be the reason I don't understand any of his posts in the canslim thread, even though I can understand everyone else's.
Jack Hershey's method uses two sets of stochastics, Macd so it is a pretty basic system. If someone cannot understand it maybe this is not for you. You have to put effort and look for a setups and keep a log when setup is working and when it is not. Method IMO needs at least one more filter to be more profitable on backtesting. As it is described it still needs some discretion so I do not believe that if applied as fully mechanical system it will be making 30K a year. It is a definitely a good setup for a starting trader , however I do not believe that it is a good idea for a new trader to start with indexes. Walter