Jason came up with that clear, concise and crisp (Strunk and Whyte) description, so I just cut and pasted it. It is the consensus of those who do the judging. Elsewhere I am commenting on a research project that is often used by people to support their positions. It is a poor example of how to determine what is what in trading. If anyone makes the same kinds or similar non critical thinking mistakes, he may come to the conclusioons of those people. Their conclusions reflect the performance of the vast majority of people who don't do very well in extracting the offer. I feel the market's offer is the standard. People are amazing beings who achieve a great deal in their earnest efforts. Right now some of the global minds who get a lot of press time are doing their figuring out of things. they see the market trailing off about 90% and then settling intoan "ice age" between 2012 and 2020. They have 2020 vision. Those who track the ice in Antacrtica, of course, concentrate on the West coast for trend analysis. The East coast is where the chunks are falling off that are bigger than ever imagined. Those looking as the ice also see the prevailing winds as a factor. The ice that is breaking off is being nudged by other ice and, of course, the water flowing under the ice and which supports the ice. Most of the ice I've photographed is flowing east to west; maybe the guys watching the wind will see the ice moving against the wind someday. Lo, et al set up quintiles to look for the patterns they designed. They also determined to do trades with time outs after their predetermined pattern lengths. They also sub grouped the patterns in to two subgroups according to volume, which gave them three sub samples, all chosen by their arbitrary decisions. Their results deviated from the Monte Carlo....lol... So you are following the usual path of people who look at markets and make arbitrary decisions to create personal beliefs. Several people are helping you out as you see. Your beliefs are getting in the way of your opportunities. It is not uncommon for a person trading to rough out the times of the day when he hits 1X the H-L, 2 X the H-L or later times in the day. I use 30 points for the value of a contract's margin. I also feel that earned profits gives the person the right to add contracts. But I do feel that sitting at multiples of 5 contracts is a good idea until you mind adjusts to making money at that pace. when a person can go ou tand buy a new car from profits every day, the value of a car changes in that person's mind. you may notice here that some poeple posting are not used to having money, making money or spending money. Money has a purpose; it is used to solve local problems. In Tucson, there are over 40,000 students facing a tuition increase of a few thousand dollars. a year. About 1 and 1/2 contracts margin roughly. If the university collects and parks the money for a while, why don't they let the finance club trade the money and then return it to the students when it has been multiplied? The reason is that the finance club invites and pay Timmay to be a speaker at the finance club. Getting an MBA at U of A isn't what its cracked up to be after all. Here Harvard is considerd to be UA "East". Your mind is going along a path that is what it is. We have been commenting to you and you ilk about this. Get a crayola and print 50 ES 5 minute charts. also get another crayola and print 50 corresponding YM 2 min charts. Get two shirt cardboards from your drycleaner who foldsand boxes your shirts. Or cut a fle folder along its fold. Use each crayola to put and X on the sheets. Slide the carboards across the respective charts and use the two crayolas to mark the the price moves. You see a ratio of moves on the charts of 3:1 for YM:ES after you have done less than 50 sheets. Send a tweet to Lo and explain to him his mistake on page 1729 of the citation elsewhere. What if you knew a trade on ES had three parts on YM? Could you "know that you know" where you are in all trades on ES? How much money would you make, Crayolawise, per day on the ES? would it, roughly speaking be the length of the string you could use on a chart to measure the profit segments on the ES? Would the silly string be longer than the H-L of any of the charts? What would the ratio of the length of the string be to the H-L on average be for 50 charts.? On the length of all 50 strings for all 50 charts; how many 30 point pieces could you snip all those strings into if you owned some scissors. Now use a new kind of string. It is called a "don't fuck up like Lo does string" Repeat the crayola measure using a "time out" string and see how Lo fucked up. repeat the crayola measure with a Lo string that uses Lo's "l" for his 10 patterns. you look up the arbitrary "l" Lo uses. Give him a tweet for each screwup his manifests in his reasearch and comaper it to your first string test so he can see the performance compared to your performance. Here is my point. You do not know how to think and your beliefs are fucked up. I can't spend time with people like you; there is no payoff for me that you can teach others nor will you help solve local problems. I bet you would open you mouth while I was trading with other skilled traders.
On SNL a guy namsed schweety balls appeared, For using the crayola chart on an MBA level, we do compounding using many schweety balls of string. the main ball is the first contract ball and other balls are added in parallel for compounding. When to add another shweeety ball is done by calibration. we have a greeen yarn strand that is 30 points long. you can make it longerif you do not add 100% of profits. 30 points is 1 contract margin. start with the initial cpaital one shweeety ball. go along chart after chart taking zig zag profits. As you reach a greeen yarn length of profits add another schweety ball in parallel with the original. Measure with two strings in parallel to represent two contracts. When both schweety balls add up to a green yarn half lengthth add another swhweety ball and keep rolling with the zig zag. refold the green yarn itno 3rds for the next measurement. when the three schweety balls have gone 1/3 of the original green yarn add an other schweeety ball. Use 40 or 50 schweety balls to see what adding contracts is like. Find out what it means to not add balls but on fridays sweep surplusses into the PVT trading. footnote. the original trading of the batting order has added another 3,000 to the first 6,000 with a new total of 23 trades including the one wash trade. Why did going form 19 to 23 shift the money velocity? the reason was the 3:1 ratio. Stock trading is done with three moves: B2B 2R 2B. if the trade is exited at the end of B2B, then the last dominant move is not held through. 23 trades on 27k original and a net of 9k so far since 01JAN10. moral: it takes schweety balls to compound profits in ES trading by adding contracts from profits.
Let's do a little experiment... First we'll google "andrew lo" (the subject of Jack's rant here). This is the first entry that comes up: Andrew W. Lo Harris & Harris Group Professor Director, MIT Laboratory for Financial Engineering (LFE) http://web.mit.edu/alo/www/ When we google "jack hershey" this is the first entry that comes up: Jack Hersheyâs Incomprehensible Method http://www.tradersnarrative.com/jack-hersheys-incomprehensible-method-971.html Now let's compare what and how Lo and Hershey write. Because Lo doesn't post on ET let's compare, say, the first paper on his homepage (The Feasibility of Systemic Risk Measurement: Written Testimony for the House Financial Services Committee Hearing on Systemic Risk Regulation) to Jack's post (below). Anyone see the same pattern that I do?
lol I think most of this Jack hershey group are either delusional or should be applying to be one of those amway salespeople.
I gave the crazy old codger the benefit of the doubt by sitting on the fence, trying to learn more, attemping to glean something useful from his ramblings, in the process at least in a small sense sticking up for the man and he thanks me by stating that he can't waste his time on me. Well, you know, I'm too firmly entrenched in the CW. Furthermore Jack somehow knows that I won't help my local community even if he did spend the time with me anyway. I believe the reality is becoming clear: if one doesn't start off following him blindly, without question like some kind of mindless drone, they are automatically written off. Strange trading cults can't allow freethinking/intelligent individuals now, can they? By the way, I spoke with the gentlemen at Rosenthal Collins/Peak Trading yesterday and while he had nothing negative to say about the man, he certainly gave me no reason to believe (certainly no proof) that Jack's methods make significant money. Considering I was led to this contact to alleviate my concerns by Jack and his minions, I expected to hear some glowing words. No such luck... I thought for sure that this man would at least vouch for Jack's methods, but once again, no; he doesn't trade Jack's system in spite of the fact that one of their products, Peak Trader Pro is built around Jack's teachings. Needless to say, my fence-sitting is over. I should have listened to the voice of reason much sooner.
did he ask you to open a account with him? ps. sorry about no glowing words, maybe he should've tried harder if he was trying to sell you something.
Funny(wrong wording) you posted this but just read an interesting article. http://www.marketwatch.com/story/th...f-the-american-empire-2010-03-09?pagenumber=2
Hey New2thegame, Welcome to the correct side of the fence. Glad to see you have joined the ranks of "the intelligent and rational". Rest assured, your conclusions are correct. I've done a ton of investigation on Jack and needless to say, he is not who he says he is. Quite sad actually. PM me if you'd like more information. Jason