Gurus, charlatans etc have come and gone for ever and ever. If any trader has been around for any length of time it is easy to see someone make a terrific call or two then fall on their face as soon as the mkt changes from bull to bear or simply changes stripes as we are seeing now with a simple rejiggering of risk. Yes, find your own way, "there is no other way", correct? Guys like J H get in the way of traders finding what works for them. When one follows a Jack they fail to understand that he is saying: "i am the way, you follow me, it is all in what i am telling you, seek no more" How can that be good advice for a new trader? Regular traders that have been around know there is no such thing as a genius, no such thing as triple the ranges, etc, etc. Losses are part and parcel about trading, believe it or your trading life will be very short. VERY short. Nite all, lets knock the cover off the ball again tomorrow.
Losses? You still take losses? How long have you been trading? You obviously dont know how to sync to the market otherwise you wouldnt find yourself on the wrong side (intraday only of course).
Nobody has followed any person anywhere. We don't travel to Tucson in order to dance in the desert under the moonlight. People choose to follow a set of methods, or they choose not to do the work. In short, some people simply look at the market differently - nothing more. I have never said this is the only way to make money. In fact I have started the exact opposite within this very thread. The only people stating how only one method exists for making money are the people like Bighog (Batterup). What I find so utterly amusing is how people choose to describe those that follow the methods Jack has shared on ET (and elsewhere). Why invent false statements if these methods are so obviously fake? Why concoct delusional accusations if the methods so clearly cause traders harm? In fact, where are all these traders to whom I have done irreparable harm? Six threads (Count them), Six threads decrying these methods as fantasy, delusion, bull$hit, and the stuff of charlatans, yet where are all these folks who studied, traded and ended up losing their house, car, wife, kids and dog? Well? Where are they? Why have they not stepped forward to provide proof that these methods do not work? All these threads. All these posts, and not one post where someone says they actually studied, learned, traded, and then lost their ass. Doesn't anyone find such an event miraculous? More favorites of those that somehow fail to see the world the same way: "Guru (or Hero) Worship" "Cult" "Religion" "Scam" and my personal favorite ... "Everyone knows ....." Starting to see a pattern here? The only one's claiming to know better, claiming to have all the answers, claiming to know none of this works are those that use the same pejorative words in every post. I wonder why that is. - Spydertrader
Don't fuck with a learned man. The secondary and tertiary definitions are: An embodiment, as of a quality or concept; an archetype: the very avatar of cunning. A temporary manifestation or aspect of a continuing entity: occultism in its present avatar. The four avatars are: cup upright with handle right cup upright with handle left cup upsidedown with handle right cup upsidedown with handle left
Ok, here is the deal.........today i am going to "BELIEVE" i expect triple the range, zero losses, etc, etc. Opps, gotta go answer the doorbell. Be right back. FEDEX delivered KOOLAID.....message said "Drink up if you do not follow the roadmap to wealth, fame and fortune." regards jack and quackajacks .. ok, lets have fun today. ..
Spyder, You seem like a standup honorable guy,and you are immenesely generous with your time.Truth be told,if it wasnt for your journals,I would find Jack to be 100% full of shit.Please dont get me wrong.I think Jack is extremely intelligent,a student of the markets and probably a very successful trader... For whatever reason Jack chooses to create chaos,and I fully believe that is Jacks intention.When he talks Trading,its a foreign language,yet when he rolls up the sleeves and squares off with a detractor,it is in good old English and his point is perfectly clear.Curious,is it not?? His claims of taking home 400% per year in equities,multiples more in futures and catching every zig and zag to the tune of 3x the range is a bit...superhuman........Not saying he isnt capable,but if you claim to be Superman,lets see you fly..I for one would be happy to see Jack start a journal and trade on an EOD basis and put up returns of 50%.Surely not the stuff legends are made of,but its a good start... While no one should give a shit,Jack is awfully full of himself,boastful and apparantly has never developed any humility on his path to becoming the self proclaimed best trader in the world.That is why there are countless journals repeating themselves... Mr Hershey is in the unique position of putting this humorous assenine debate to bed for a very long time....Step up to the plate,create a journal and lead us from our darkness..... I would hope if he accepts the invitation,his detractors will be kind enough to show some respect and let him "trade in peace".There is a chance we may all benefit immensely from this experience,and for that we should all be grateful. How about it Jack??
Gunder. Don't let the obfuscation and the method distract you from setting 3X as YOUR goal. IMO, the narrower the daily range, the easier it is to achieve that. For example, as I write, the NQ range is 9.5 points. I took 5 out in a no-brainer, and if I felt like taking riskier trades I might have made about 8 more in 2 more trades. So open your eyes and think about how you can do what they claim to do. I think their methods are imperfect for finding turns, far too qualitative, and I know for a fact that there are quantitative methods for doing the same with the confidence that code-driven decisions give you.