Jack Hershey

Discussion in 'Strategy Development' started by stocktrader, Mar 19, 2003.

  1. dbphoenix

    dbphoenix

    And how does one "do" it if neither he nor you nor, apparently, anyone else can explain it?

    What you are doing is trading your understanding of his method rather than the method itself. So is everyone else, each of whom has a different understanding of it. Which is why all of you are coming up with such wildly differing results.

    --Db
     
    #31     Mar 19, 2003
  2. LEAVE JACK ALONE...HE"S A GREAT MAN!!!!

    ...They even named a road after him in Pennsylvania...."the Jack Hershey Highway"
     
    #32     Mar 19, 2003
  3. okwon

    okwon

    http://www.elitetrader.com/vb/showthread.php?s=&postid=221519#post221519

    This guy seems to understand and be very familiar with Jack's work. I have equally challenging time understanding his posts too. Seems to be written in a similar manner as Jack's. What is it about these posts that I am having such a hard time understanding when other people seem to be doing just fine??
     
    #33     Mar 19, 2003
  4. tampa

    tampa

    Oh my Gawd - how profound.

    But wait a sec - that can be said about ANY method.

    Next?
     
    #34     Mar 19, 2003
  5. vorzo

    vorzo

    I don't claim to understand everything he says (such as fractals and harmonics, wally :p) but I grasped the basic concept of the strategy: entry long/short on overbought/oversold stochastics, and exit when they are no longer overbought/oversold. It's supposed to work only in fast paced markets; use the MACD for confirmation etc. Settings and details at:

    http://www.elitetrader.com/vb/showthread.php?s=&threadid=14129&perpage=6&pagenumber=4

    by dawg.

    I backtested it in NQ over one year (four contracts back), on the long side only. Entry on the 5 min chart, at the midpoint (avg OC) of the bar when fast stoch crosses above the 80 line, and exit when it crosses below, on the close of the bar. Stop loss at 2 NQ points. I used an entry at the midpoint of the bar because these are 5 min bars, so you have plenty of time to get in if the mkt takes off.

    It made an average of $1000/month/contract (IB commisions included), or 5NQ points/day, with an avg of 3 trades/day, about 80 winners vs. 100 losers and max drawdown of $500 if I recall correctly.
    I didn't do any optimization, no short side - will do it soon.

    I have sim traded it for the past few days and it worked fine - today it made 7.5 NQ points in the morning, in two shorts.

    Hope this helps.

    Personally, I think what Jack is doing, sharing his strategy and trying to teach people how to use it, is really commendable. Yes there is ego to it but then again, isn't there always when someone is teaching others? Why do people always think that if someone is sharing their ideas they either have a hidden agenda or they're deranged? Geez.
     
    #35     Mar 19, 2003
  6. dbphoenix

    dbphoenix

    So you can't explain Jack's method. Can you explain your own? (I'm assuming that you understand your own method.)

    --Db
     
    #36     Mar 19, 2003
  7. tampa

    tampa

    I'm at a loss as to why I must explain anything to you, or anyone else on this board. Perhaps you might enlighten me?
     
    #37     Mar 19, 2003
  8. This guy seems to understand and be very familiar with Jack's work. I have equally challenging time understanding his posts too. Seems to be written in a similar manner as Jack's.

    Do you mean the posts made by bubba7, I have got to admit I thought bubba7 and Jack were one and the same person, I could be wrong though.
     
    #38     Mar 19, 2003
  9. I agree with this. Why give someone a hard time for posting what they think about the markets? Why should he have to prove something or someone is going to ignore him? If I were in his position and started reading a thread like this, I would be like f*ck it, I won't post anything anymore. I know of several people who used to make significant contributions who have stopped posting here for similar reasons.

    I attribute his style to the fact that he is 70 years old and probably has a hard time articulating things that come very naturally to him because of his experience. But if nothing else, I find his posts to be motivating in that it is possible to have the markets become completely second nature as they appear to be for him.
     
    #39     Mar 19, 2003
  10. okwon

    okwon

    I cannot understand the writings of bubba7 either. Having the same problems as with Jack's writings. Bubba7 seems to be very knowledgeable with Jack's methods. Is there a hole in my understanding of English because I don't seem to be able to understand a certain writing styles? Anyone else notice this?

    http://www.elitetrader.com/vb/showthread.php?s=&postid=221519#post221519

    Oops, this post has the same subject as my last post. My last post said 'failed to post' so I posted another post with the same subject.
     
    #40     Mar 19, 2003