It seems to me that if one wanted to go to the core of Jack's credibility, one would discredit his trading ideas, rather than to harp on an irrelevant point. Not one of his distracters have attempted in any way to disprove the validity of his methods, other than to say "I can't understand what he's saying. This and all of the other "Jack Hershey" threads amount to childish attacks. They have NOTHING to do with trading, but are personal attacks - plain and simple.
Please excuse my French, but wally, you are a jerk. If and when I want advice on who to follow or who not to follow, I am sure that I could do better than you.
if he wrote any book then they weren't trading books. --------------------------------------------------------------------- From: Jack Hershey (jhershey@primenet.com) Subject: Re: For Jack Hershey View: Complete Thread (9 articles) Original Format Newsgroups: misc.invest.technical Date: 2000/06/02 hi TGK, I write in the environmental and energy field. Mostly scientific and technical stuff in emerging fields of endeavor. I known for my revision of the think tank Delphi Process into what is now called the "Modified Delphi Process". A problem solving technique. My first book on a Ford Foundation grant was a seed grant to deal with "what's wrong out there". It became known as the environment and the first legislation was PL 92-500, the clean water act.and subsequently the EPA was established... I was a small part of that. I helped sew the first environmental flag three years before earth day... I am well know as a futurist and the econometric modeling have done has been adopted by the world bank as its model for a developing nation. As an architect,. I have focused on the harmony of the built and natural environment, the AIA has published a two volume book on that subject which I wrote. I have declined faculty positions in departments of psychiatry, but I am recognized with respect to learning theory. In the course of working for three Presidents, I have written several other books mostly on energy ( the alcohol movement) and recoverable energy from waste, and national energy self sufficiency. The copyrights to all books I have written have been contributed to not for profit 501 (C) (3)'s.....
Suppose I'm learning to play chess, and I'm chatting with fellow players on a messageboard. I post a message asking for help on my technique. I wonder out loud, "How can I master this game?" Suddenly, a man comes along, telling us that he is 70 years old. Then he tells us that he's one of the best chess players in the world. Not only that, he is well-travelled (citing his various exploits in exotic foreign lands), well connected (dropping hints that he has worked personally with a few US presidents), and an accomplished author (stating that he has written 30 books on various scientific subjects). Naturally, one's ear perks up due to his illustrious life and accomplishments. Next, he offers advice on chess strategies and tactics. He describes a "simple" chess opening that he guarantees will make you a world champion (like him) if you study and comprehend the intricacies. Thirsting for knowledge, many start reading the lessons... Unfortunately, the man's wisdom seems to be veiled in his incoherent writing. Many are frustrated and ask for clarification... Some of the players who find the writing more pallatable start to internalize the main theories and test the ideas. However, after practicing the "simple" opening during many rounds of casual game play, these players continually get creamed before the middle game. They wonder if they are beaten due to their lack of understanding of the technique, or if this unconventional opening theory is in fact sound. Up to this point, some of the practioners have taken the old man's background for granted. They never questioned his presumed wealth, his connections, and his education. But they got curious (as we all do), and started to ask for more details concerning the man's accomplishments. "What book did you write?" "What papers did you work on for the president?" "When did you travel to these exotic lands?" Because the old man never gives precise details to any of these questions, a red flag is raised...and a final question is asked: "Is he even one of the world's best chess players? Is this 'winning' opening sound?" Tampa, Jack has been around for a long time, and many of us have backtested his theories. His idea of the 0-7 scoring system for accumulation and distribution cycles *do not* work as he claims. Jack has kindly provided a document giving details on how to mechanically score these cycles, and they are completely bogus... Does this give you more details about the debacle?
Wrong. More than one person backtested his methods. None of them showed a profit. Not one. I personally tried his technique using the Replay functionality for about a month period, and I wasn't impressed. With any kind of slippage it all, it wasn't profitable. I was using the very basic technique that he says will make anyone 30k per year. Tampa, I am curious of your backtest results. You seem very confident in his system. You also, however, seem to change the rules on the fly. So I am quite confused. Have you done any backtesting at all on Jack's system? Did it show as profitable?
Backtesting is for those who like to think that their computers can answer all of their questions. Basically people who can not take responsibility for their own trading decisions, and want hard fast rules. My experience has been that such individuals are more interested in playing computer gams, and less interested in learning how to trade. I regret to inform you that I have not backtested the method, nor am I at all interested in your results. However, I was under the impression that this thread was devoted to why Jack Hershey had not answered the demands of a rude individual to provide a list of his published books.
Seems like we may have a little denial creeping in here. Are these methods profitable for you, Tampa? At least to the extent that Jack claims they should be? --Db