This rant isn't against him. It's against any person who isn't logical when it comes to determining if he is a nutcase or not, which he clearly is, and the main reason is because if he wanted to help you, he <b>would give you the code. Not pander to semantics and endless unproductive debate.</b> <b><i><u>This is the definitive rant for Jack Hershey to live in infamy when he passes. If you do not understand a rant with basis and a personal attack, you are misclassifying rants that have a reason and rants to be ranting. This is a rant as far as I can tell that REALLY gets to the core of Jack Hershey's Fraud, not the JMH, Jack Hershey Fraud, JMF</b></i></u> Top rant: http://www.elitetrader.com/vb/showthread.php?s=&threadid=229669&perpage=6&pagenumber=57
Baro-san, it's pathetic defending a senile lunatic like Jack over a 50 line program. Pathetic! No one has given any confirmed statements from that, and nearly everyone who has said yes to making money with it is lying. No statements-->no proof. As always. If you want the program and data to backtest see the links in my posts in this thread. Obviously no matter how much you'd like to obfuscate the truth, everything about it is completely described as well as characterizing <i>any</i> aspersions as aspersions rather than listening to genuine criticisms about his approach is a disservice to anybody who might ignore somebody who really does understand his methods when there isn't a lick of consistency out there other than my own versions of Cash Cow complete with 6 months to a year of backtests and 1 forward test on c2 that failed due to broker technical problems. It's very touching you'd start a thread after I wrote Jack's epitaph, and if it's not Jack Hershey's epitaph it is entirely his Final Jack Hershey Method Prologue.
What I don't understand is if the Hershey highway method doesn't work. And most indications seem to be it doesn't. Why would his disciples not just admit it and move on to something else? Trading is (I thought) supposed to be about making money, not being "right".
Seems to me like it's akin to Elliott Wave International and how Prechter has his subscribers thinking that they're never wrong, the market is wrong. Prechter also spins some convincing BS. In other words, a "cult of personality" exploiting traders who trade for "extra-pecuniary" benefits, i.e. who like to feel smart or gamble. Not much that can be done about it.
I don't think any of the claims made by supposedly "profitable" Jack Hershey method traders or their claims have anything at all to do with his method, but more importantly some may trade on a discretionary basis trying to predict the MACD below 50 or above 50 BEFORE it happens, meaning they're probably not trading the program correctly, and make way too many trading decisions based on a poor version of what they think his method is. Read my rant if you want to know what the final judgement was for me.
It is exactly that, and Prechter is as much a showman as Jack, which is to say, not a showman at all. Writing and vernacular when something is obviously detrimental seems to be the mo for anybody, and if you want to know why see the thread "This Thread Contains the Best Quant Humor of All time." The difference, though, with Prechter, was that he probably was trading real money and lost his shirt, pants, and any wallet he might have been able to buy from Coach the year before.
Many more rational people would trade it and when they start to lose money you would assume that they would stop, right? But the Hershey method attracts seriously demented (did put retarded but intelligence might not be the issue, something more along the lines of somebody actually being irrational when it comes to doing the real research and then never stopping if they think they've found his method and the even more demented people who might see 1 of my backtests then go to get their ass handed to them by the natural oscillations of Mr. Market who in no way would ever give away anything close to 3x the daily average) people who probably do not have very much money and so think if they get his system then they, too, will become succesful. Anybody who came to his defense...ANYWHERE... is completely bonkers. If the losing money bit doesn't stop them from trading it or defending it then definitively they do not deserve any success with regard to their pursuits in trading with the Jack Hershey Fraud. I only found the method marginally profitable but perhaps profitable under the right circumstances and trading the right instruments. Anyway, once interest rates go to something more like 4-5% that's just as easy a profit as it's ever going to be without risking 40-90% with the JHF.