Interesting thread. I always found what I read of Jack's work interesting, but I never really delved into it myself. I don't rule out doing so in the future as some of the general principles seems to align with mine. I'm curious though. Is any of you guys making any money on this? Have there been any Jack Hershey followers who have actually made money using these teachings? Or are you simply at this point having faith it will yield returns in the future if you put in the work? Sincerely curious.
Whithout a doubt, yes some people have made, are making and will be making money with it. It's also linked to faith of course, cause I've never personally managed to win any € with the method, but that's normal I have not reached the level needed to make some money. I have seen in the past some examples by Spyder, Jack himself and others, that are more than proofs for me that it works. And I might add, that even if I had not seen thoose proofs I'm talking about, it could be the same. Why so -> Jack's teachings, way of working, way of talking about it, reveals itself as is it : true. Its method just lines up too perfectly with foreign concepts (foregin for markets) that are in action in our world. As I see it now, I have seen proofs, and I feel that stuff worths it. If you want an example : K.Marx wrote The Capital like 150 years ago, and he anticipated (for anyone curious and with strong will, it is available) phenomenom that surged 50 years ago, that surged 10 years ago, and that are surging currently. Was he a genius ? was a elected by Gods ? is he a thought-reader ? No, just by its method, which is not his property, by knowing where he was and where he came from, he could anticipate (not predict) what was gonna be possible to surge, when and where, IF what etc... Jack is a sort of Marx but not for History of our production mode, but for the history of the markets. Same rules everywhere. Best wishes
Is it too much to ask for any links where I can find this? As far as I know there haven't been any, but it's quite possible I have simply missed it. Seems like a stretch to me. Is there anyone outside ET who even know who this is? As for 'proof', I have myself 'followed' someone who have not provided any and I have learned immensely from this guy. Not only that, but I have gone far beyond what he has supplied publicly since he merely started me upon a path which I have explored further with a line of questions which begets new questions. But the difference between this guy and many others on this forum is that he hasn't made any claims and nor is he trying to teach anyone. He's merely laid out some concepts and ideas that a clever guy could further explore on his own. Sincerely. Howard
What do you mean ? As for Jack known out of ET, I know he wrote on TradersLaboratory and one or two other websites. I remember among all I've read about, on and from Jack, that he said himself along years he participated to different threads on different websites. What surged and was said by all his followers and a majority of his destructors, was that he published and wrote the best, most refined and perfectionned method on ET, along the last years of his life. Who's that ? I'm not sure to get the point you wanna come to. I remember 5 years ago, I read a post of Spyder, he had projected and extended his rtl's at the end of the day, into the blank right part of his chart. let's say, for the next day, for tomorrow. He had invented, created channels in-before, saying : if tomorrow volume did this ("this" meant in his post : at the point he had arbitrary fixed in the future), price would do that. Both volume and price actions were arbitrary anticipated. The goal of it, was to just adapt, adjust its drawings the next day, compared to what he had anticipated. Remember when Spyder said "whether this change in price will last long or not, I cannot tell in advance" ?. In this example he had posted an arbitrary bet on "let's say tomorrow volume will, here do this, and so there will be a change here, then another here, and a last one here". He was acting like he knew, in order to be able the next day to adjust from that hypothetic history. Next day, chance, his drawings fitted at 90% with the history of the day. Let me find the link of that post if it exist still, and I post it. Another personal example I can give you : when I started with that stuff, I did not do it alone at the beginning. A friend of me was also involved, but we never concretely worked "together". One day, he took a sheet of paper, a chart was impressed on it. He took another chart, a blank one. He drew by hand volume columns, repeating what had really happened on the chart. And not even a glimpse at price bars. Nothing. He gave me the impressed chart, and asked me : what was the open of the first price bar ? its close ? its high ? its low ? I answered him, and he began to draw price bars, in function of the volume bars he had copied. 5min later, he had created a story of price bars, corresponding to the deduction he could do from volume and his comprehension of JH method. Believe it or not : the channels, ftt spaces, fbo space, all the drawings on price pane, was INSANELY close to reality. AND hold on for the best : the open, close, high and low of the last price bar was ALMOST THE ABSOLUTE SAME to the last bar of the impressed chart I handled. Life separated us, and I don't know about him since several years. Nonetheless, he was able to answer at any moment to : if volume does this, what must price do ? Although at that time, this mastering he had, did not lead him to master SCT and win €, he had an amazing ability to deduce price from volume. But as Jack used to say : quite perfect is not enough. In other words, although that capacity to understand the PVR is an absolute necessity, there's even more to get to reach money. I assume, to quote you a bit , do you know anyone out from ET and from Jack's followers, who could do so ?
Thank you for sharing your experiences. It is interesting. The point is simply that if someone makes claims and takes on the role of teaching or being a guru, I don't think it's too much to ask for some proof. Both Jack and other disciples have posted extensively on ET with thousands of posts. Why not join the ES journal and post some live calls in real time? It's very fast and certainly less time consuming than his other posts. Many people do so and have done so. Some have lost. In fact, quite a few guys have even embarrassed themselves their when they finally post some trades and lose showing that they might not be as good as they like to project. But for another guy who's just making occassional comments and perspectives on the market, there is not the same burden of proof since he's not really making any claims or trying to be a teacher. In my humble opinion of course.
If it's not too much to ask (or maybe someone have done it already), is it possible to get a summary of Jack's methodology or concepts? Maybe those of you who study it can take it on as a nice homework to further your understanding. I've picked up a few bits and pieces over the years though, so I can start. Please correct me if I'm wrong. 1. SCT - Seamless Continuous Trading Basically always being in the market and reversing when you exit your current positions. When exiting your long, you double up and reverse for a short in the new direction. And so on until market close. With the purpose of taking the markets 'maximum offer' or 3X the daily range. This is a part I can identify with as it it's basically my same approach. 2. Focus on bar patterns. This I don't know too much of, but it seems like a bar-by-bar study is important and that there's emphasis on bar patterns? 3. Uses channels...? 4. Big focus on volume and volume patterns. Is this simply raw volume at the bottom of your chart under each time based bar? Such as 5-minute volume on a 5-minute chart? Some additional questions I'm curious about: a) Is multiple times frames used? Is there a specific time frame that's recommended? b) Is activity based charts endorsed? Such as tick charts? Volume charts? c) Is DOM/Order flow analysis endorsed? d) Is any type of statistics utilized? Such as the average daily range to quote a very basic one. e) Are indicators used? I seem to recall some of his posts where at least the MACD have been mentioned... Thanks very much in advance if anyone feel like answering any of this.
yes 5 & 30 min ES no yes no yes&no not for rdbms Maybe someone would like to expand further. Everything is still available in ET archives and there's at least still 2 active JH threads lately. Haven't seen anyone claiming to be done learning or being wildly profitable, and everyone basically do their own analysis and learning. So different and personal approaches to this. What I read most is Jack's own posts.
Good effort and congrats on completing a day! Even though it's incomplete and inaccurate it forms a baseline for refinement. The pics are difficult to see, better light and darker pencil would make a difference. Of what I could see, I'm not understanding BS as a price case nor can I see if the VTP cells are being gestured correctly. Retro is also only activated on the qualifying 4th bar of a lateral, there are no laterals annotated nor logged. From here with this chart, 1) start at the first P1 of the day and include a Bookmark at the intersection of the RTL. Do this for every P1 start of trend. As @Simples suggests, it's essential to match the progression of elements of the VTP to it's price container. 2) begin to mentally degap your bars, mark in the cell for each bar when this is called for and when it's not. Log this. 3) Since you are not working with the lookup tables yet, then each trend that you've ID'd will end with a BM,rev or a BO,T1. As you integrate the lookup tables a multiple of the BM,rev's and BO,T1's will become EE's. You'll see a cascading of re-ID's as you do this. The process is more important than getting it right. Getting it right certainly supports the effort however working through where it was wrong and why it was wrong builds learning. Tracing paper over your paper logs will support multiple debriefs without having to redraw redundant material.
Appreciate your comment, @Sprout. What would you (and others reading) recommend if one would want to actually study Jack's teachings...? Is it best to simply search up all his posts on his various and start going through it all from A to Z? I know he had at least two usernames (Jack Hershey and Grob109). Were there others? My plate is full at the moment and I'm lucky to already have progressed quite far in my trading already, but I'd definitely be interested in exploring Jack's teachings eventually.