Software Used to Trade Jack Hershey Methods

Discussion in 'Trading Software' started by Tums, Jun 26, 2007.

  1. Tums

    Tums

    This thread is for the discussions of Software Used to Trade Jack Hershey Methods.
    Both equity and future software are welcome.


    For discussions of the methods, please visit:
    http://elitetrader.com/vb/showthread.php?s=&threadid=113310




    There is a "Complain" button on the bottom right hand corner of each post. Please use it liberally with detractors.
     
    SupermanTrades likes this.
  2. Tums

    Tums

    QuoteTracker Program Version: 3.8.5c-2

     
  3. Tums

    Tums

    Thanks to Pr0crast, the PRV (Pro Rated Volume) is a standard feature in Quotetracker.
    Just go to Select Indicators> Edit> then check the "Show Projected" option.

     
  4. E-Signal is capable of coding and displaying every aspect of the Hershey scalping method save the DOM (it does not have the program calls to go along with a CME Level 2 subscription). IMO this is not a shortfall, as the DOM is reactive, not predictive. Further, E-Signal's ability to assign and retrieve global values between separate codes allows one to construct a "Red-Light-Short, Green-Light-Long, Yellow-Light-Stand-Aside" helper pane which is an essential decision making aid to those unable to fully integrate the mulifarious elements of the method. I do not believe that I could trade the Hershey method as well as I do with any other charting program. But be advised, the ability to code the method as a simple binary decision using multidimensional binary decision theory is the key. Alas, you will not see that on Spydertrader's syllabus.
     
  5. Jack has recently written that he is "fully automated." When is he going to pay it forward, by showing the code?
     
  6. the combination of:

    channels
    trendlines

    is pretty powerful, its a evolution of the old pit trader open range system. Since OR just uses the open high low, prev day high low. The channels and trendlines are basically dynamic risk management techniques.
     
  7. trader225 asked this question on the 24th. I replied with the following :

    Quote from trader225:

    Jack,

    Vectors do have direction and magnitude, but since when are they time based?


    Some traders focus on price change for making money. They may also focus on being on the right side of the market.

    So a vector that is important to me is price magnitude and direction and I just use a standard interval of time to measure price change (magnitude) and it's direction (long or short).

    Another element of my data set is the MODE of the market. What is the vector here? For me it is continue or change. I measure the continue as a pace and I do the same for change. Pace is related to the strength of the markets for me. Pace is how much the market can handle as it continues or as it changes.
    I measure these two items with respect to time. One aspect of change I mentioned: that is, doing partial fills around a turn. Each is separated in time and there is a magnitude for each slug that goes through.

    Recently you wrote that you're fully automated. When are you going to show us the code? Pay-it-forward as you're wont to do.

    Many people have posted on this in several places where snippets or script is kept. So it is around in these places as pieces. I hope you are using the stuff that has been passed forward. I, personally, am not allowed to do code. I have heard that beta testing on displays is starting in July. People generally "come to us" regarding this kind of stuff; we do not push this kind of stuff.

    As far as showing what is possible or activities going on, I think we are shooting for the next Expo. The Expo is commercially oriented so there are issues to be part of it as an amateur.

    Doing PVT and SCT as an amateur is best done by learning it in my opinion. It is always a good idea, also, to be able to understand completely what is going on at any time. That is where being mechanical, as well, comes into play. People who have that interest can do this kind of support for their trading and learn in the process.

    If a person is using a conventional orthodoxy orientation to get some mechanical PVT or SCT stuff together it will not work out for them. There are many examples of how this fails in ET.

    It is really unpleasant thinking of how any formal aspects of this would go. I am glad to see that some people have done the snippets and scripts. many others have speny years absolutely demonstrating they cannot do coding for checking out PVT and SCT.


    Trader225, you may want to make a file and keep the answers to questions you ask in the file.
     
  8. Tums

    Tums

     
  9. Tums

    Tums

     
  10. Tums

    Tums

    #10     Jun 26, 2007