666 You just revealed that you are inexperienced as a trader. Even an intermediate trader knows that as your capitol base increases, the returns decrease. It becomes harder to allocate capitol efficiently. Best Regards Oddi
Absolutely incorrect. Returns will often increase due to diversification among classes, capital-intensive strategies or simply brute force manipulation. Returns on OTC FX, eq index and FI market making often increase with increased capital. Just ask Rotter, the Brumfeld brothers, Charlie D, etc...
Oddi, You weren't able to detect just a weeeeeeee bit of sarcasm in my post? Maybe when it got to the part about buying Microsoft (the entire company) and the English language? I agree that nobody will ever become a trillionaire from trading rockets -- even if they did work. But that was not my point. My point was, the returns that Jack claims and the returns some of you claim (like 530% a year -- and that's ONLY the first plateau LOL) are inane! Nobody has ever sustained returns of more than around 50% per year. This 4 to 7% a day stuff is totally bogus. Ever hear of Bruce Kovner? He returned less than 10% last year. Ever hear of Jim Simons? His Medallion Fund has averaged 34% since 1988 after fees. These guys are the real deal, among the very best in the business. They're real billionaires in real life... they don't play billionaire on the internet. So sorry, no "gotcha" moment... the real "gotcha" moments are when you and others on the A Team make and fall for preposterous claims. Trader666
So I take it that's a "no"? That you won't trade against me in a real-time contest here on ET? Think of how you could showcase SCT!
Jack, instead of all this obfuscating gobbledygook, why don't you just show me and everyone else what you're really made of in a real-time, public ET Trading contest? You already know that you trade and make money on a level I can't even comprehend and that I don't. So what do you have to lose? Think of how you can showcase SCT!
666 I don't dispute that it is healthy to be a skeptic. I am a skeptic as well, so I set out some years ago to falsify the methodology. In reality, however, the methods do work. I have found through experience that backtesting has some severe limits. My question to you is why don't you simply falsify the claims in real time? We will not go through the semantics of what is and what is not verifiable, we will simply trade rockets on whatever instument you choose, on what ever time frame you choose. If you choose equities, I would only ask that you respect the float parameters on the low side. The equity must have a least a float of 5 million for liquidity purposes. Anything else is fair game. I think that you are a genuine questioner 666, therefore I for one will work with any concesions that you choose. That is how confident I am of these methods. Best Regards Oddi
Hi Oddi, Just a question if you do not mind. What do you mean by 'the methods do work'? What 'method' are you referring to? Is this the rockets (a.k.a MACD/Stoch) trading equities? Or, is it the unique Hershey methods of channel drawing, R2L, L2R, R2B, B2R, etc. etc. trading the ES contract? Do you believe the Hershey methods trading the ES work? Do you use these methods yourself to trade the ES contract? A lot of the confusion about the Hershey methods has to do with the fact that the terms are used in a way that welcomes confusion. Thank you for the information.
Rockets work Icebergs work 1,2,3 works I have traded the ES using Hershey methods I have traded equities using Hershey methods I agree completely that Jack speaks in very sophisticated verbiage. Jack simply uses indicators to show when price is moving off a neutral bias, and the move is comfirmed with volume. Anyone that becomes acquainted with the materials needed to pass the CMT test will see Hershery stuff in all of these texts. Best Regards Oddi
In all of these threads, what is most unfortunate is that there are people who with to attack a senior who simply wants to share his life work. He is selling nothing. He wants us to subscribe to nothing. When I first ran into Jack, I did not believe the claims that he was making either. Whether they are true or not is irrelevant to me. What is relevant to me is a man who has been doing this for 35 years. Longevity means a lot in this business. The methods he advocates are not revolutionary. They are not even new in concept, only in application. The markets for me are an excercise in philosophy, so I am truly a student of them. Jack Hershey has a lot to contribute. His perspective has helped me, and it has helped others. For some, it may not be enough, for others, his efforts are laudable. Best Regards Oddi