Jack Hershey's trading methods

chapper · May 25, 2006

SCT?

easyrider · May 25, 2006

chapper

Just stay tuned for awhile. There is a group getting together with Jack in Tucson the second week of June to focus on setting up his website with a number of the people who have been posting here and some others.

chapper · May 25, 2006

Sounds good, thanks for the heads up

cnms2 · May 25, 2006

http://www.elitetrader.com/vb/showthread.php?s=&postid=833533#post833533

Grob109

Registered: Aug 2003
Posts: 2501

09-04-05 11:30 AM

Attached is the basic point of departure for the support this thread can offer.

It can easily be used by anyone to give first considerations to SCT if they have reached advanced intermediate.

It is not something for beginners nor intermediates to consider.

beginners must not participate in market conditions and situations that involve any risk. beginners should restrict their trading to no risk trades only.

Intermediates can slowly extrapolate beyond no risk trading. They go no further into unknown areas than they can handle simply because they are required to immediately leave the market at thye point where they discover they do not know what is going on in the market.

This thread is not addressing no risk trading. It is not addressing any type of entry into the market where after eentry, the trader does not know what is going on in the market.

Soon 11 types of stop strategies will be compared and contrasted using 7 or so criteria. All of this is being presented to demonstrate the precepts of SCT advocated here and NOT to supply protection for ill chosen trading methods (See the TA moderator's high risk low yield approach presented above , for example)

Attachment: seamless continuous trading xxxx.doc
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http://www.elitetrader.com/vb/attachment.php?s=&postid=833533

Seamless Continuous Trading (SCT) Overall Statement

SCT is based upon the P, V relation. The P, V relation, stated in two Boolean algebra parts, deals with market price continuation of trend and change of trend. The principle for making money is based upon price change as a single overriding concept. A neutral bias is required to effectively and efficiently harvest the potential of continuing price trends and of price action at regions where the changing of trends dominates.

Seamless and continuous are descriptors of the accommodation of the SCT strategy to the market basic principle. During continuation of trends the focus is on using the related market tool: Holding. During change of trends the focus is on the market tool: Reversing.

To trade successfully, by optimizing effectiveness and efficiency, a routine comprised of four elements is used repeatedly. These elements are used throughout the spectrum of intellectual pursuits to address problems and to continually create solutions of the highest order. It is reasonable to apply such to making money. The four elements include: monitoring, analysis, decision making, and timely action.

Essentially, the routine of rotating through the four elements is the basis of seamlessly and continuously making money. This is more powerful for commodities trading than equities trading for several reasons. The application is the same, however, because the purposes are coincident.

Knowledge, skills and experience are required. It is only possible to acquire these by using a process. The keystone of the process is the repetition of prescribed efforts to build strengths. The mind is the place where these strengths reside once achieved. They are permanent and long lasting and universally compatible with living the highest quality life style.

Effectiveness comes from being completely equipped. Efficiency comes from proper and appropriate use of excellent tasks.

Appropriate computer set ups are built. They are swept routinely using three levels of fineness as required by market conditions, situations and circumstances. This monitoring enables the most efficient collection of data. Analysis compares data with a comprehensive set of known truths. Decisions can then be made based upon the results of the comparison. Actions become most timely and a two for one action event, when dictated, is the standard. That is, taking profits occurs at the end of a trend and entry occurs at the beginning of the next trend. Since trends overlap, this process is inherently effective and efficient. The set computer up is annotated and projected into the future. As the future becomes the present, actions occur.

To become able to do SCT, an effort is required to build the mind to the required capability. This effort is a process made complete by repetition. Knowing how to know is an essential aspect of this. Many many impediments prevent this process from ensuing, from continuing and from reaching a level of excellence. If a person cannot know how to know, they will not be doing or have SCT capability. The Sequence is BE DO HAVE.
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Quote from chapper:

SCT?
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hypostomus · May 25, 2006

Seamless Cuntinuous Trading.

Trader666 · May 25, 2006

Quote from hypostomus:

The posts and long-running thread by Nwbprop also are most enlightening as to the profitability of SCT.
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I agree... this thread shows exactly what a trader can accomplish with Jack's methods and tons of his personal coaching. I highly recommend it to everyone thinking of putting their money on the line with the Hershey / Grob109 / bubba7 methodology.

http://www.elitetrader.com/vb/showthread.php?s=&threadid=35915

easyrider · May 25, 2006

You guys show up on every single Hershey thread with the express purpose of trying to discredit Jack and his methods and have succeeded pretty well in destroying the threads and chasing off some pretty decent posters. Baron does not seem to understand the damage you are doing to this forum but so be it. Most of us are moving on and I'm wondering who you start gunning for next.

hypostomus · May 25, 2006

That was one of the most fascinating threads ever on ET, IMO. As I recall, the market gifted us during that time with numerous FTTs that weren't, especially on the short side. Also quite a few narrow range BO's on high volume which reversed or whipsawed. And rockets which fizzled. Not to mention patterns which defied the creation of channels. I loved it.

hypostomus · May 25, 2006

Easy. My posts are merely intended to point out what I consider to be fundamental flaws in the method based on my own wholly sincere attempts to apply and/or test them. All I mean by it is "Here be dragons!"

Trader666 · May 25, 2006

Quote from easyrider:

You guys show up on every single Hershey thread with the express purpose of trying to discredit Jack and his methods and have succeeded pretty well in destroying the threads and chasing off some pretty decent posters. Baron does not seem to understand the damage you are doing to this forum but so be it. Most of us are moving on and I'm wondering who you start gunning for next.
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Really? Why shouldn't someone be allowed to post a link to a 516 page thread called "Jack Hershey Trading" in a forum called "Jack Hershey's trading methods?" It's often claimed the Hershey method can't be backtested, so at the link anyone interested can find real-life results achieved with Jack's personal coaching.