Thanks for sharing, but I am one those persons who will share trading ideas upto a point then I have to stop, cause really successful trading system should not be shared in the public forum or it it will stop working in the future.
Okay, so based on your comments, if you found something that would make this a "really successful" system, You would not post it. correct? One has to wonder if you would go so far as to offer posts that would move the system development in a negative direction in that case? For myself, I have my own reasons for helping people. I have looked into the idea that edges can be arbitraged away, and find that although the possibility exists, this is not the only way for a systematic edge to disappear. In fact, periodically every statistical edge that I have investigated disappears, and without warning appears again. If you stop and think a moment, it is just common sense. Trading after all, is done by humans who have a limited life, and whose interests change over time. Further the economic landscape changes periodically including elements like tax law and composition of markets themselves. It is just my opinion of course, and I encourage others to do their own thinking on the subject, but I have come to the conclusion that the popular concept that a system will stop working if others find out about it is an "urban myth", nothing more. Thanks, Lefty
He shared his trading system with few, then it was revealed to public by sobs (including variations). Now he had to close two funds with huge loss.
Again, we will have to agree to disagree on this very point. Jack Hershey developed this system in grad school back in the 1950's. He has shared this sytem with countless individuals since that time, yet the system continues to work. Jack has posted his methods via USENET since 1997 (according to my research), and on two different MSN web sites since 2001. Jack's level of posting here on the ET web site can only be described as prolific. Still, the system continues to work. Countless other web sites contain archives of Jack Hershey posts, and other web sites teach similar methods (http://www.CANSLIM.net) as the ones delineated in this journal. Again, CANSLIM and The Jack Hershey Equities Method both continue to produce profitable trades after years of sharing in public forums methods to successful trading. Certainly, the ability to form one's own opinion entitles the individual to share openly (or not) their successful trading methods. However, a conclusion that suggests sharing in a public forum results in the detriment of trading profits fails in the face of the mounting body of evidence (at least with this methodology). By your own admission, "a really successful trading system should not be shared in the public forum or it will stop working in the future." Then, why bother to read any public discussion regarding methodology? Aren't you experiencing a colossal waste of time by doing so? Might the methodology fail before you have learned the system? before you have even finished reading? The decision to withhold a trading methodology or share publicly one's methods remains a matter of individual choice. While we may disagree on the results of such a choice, I begrudge no one their decision, and continue to assist, in any way possible, those interested.
Sevens - Ones - Zeros PACT - DRIV - DDN NGPS - UTHR - CMTL ULCM - CRDN - MDRX CIB - UNA - CTSH ARTI - DECK - HUM CREE - SINA - LCAV PHS - EAGL - ALDN TNP - FFIV AMX - JUPM LCAV - MRVL Hotlist PACT NGPS ALDN JUPM FFIV SINA DECK Watch List IDSA - DU Cycle BCSI - DU Cycle - DU5 - DU10 LWAY - DU Cycle - DU5 - DU10 - DU20 GMAI - DU Cycle TRMM - DU Cycle - DU5 - DU10 EVCI - DU Cycle - DU5 - DU10 FFIV - DU Cycle ENWV - DU Cycle HANS - DU Cycle - DU5 SINA - DU Cycle - DU5 - DU10 BAMM - DU Cycle DECK - DU Cycle NTES - DU Cycle - DU5 - DU10 NVEC - DU Cycle - DU5 LSCP - DU Cycle DPTR - DU Cycle - DU5 LIFC - DU Cycle - DU5 ANIK - DU Cycle SRVZ Wealth Lab Equations - Dry Up BAMM ENWV MKTW G33M4K Score for the above Stocks BAMM - 0 ENWV - 3 MKTW - 2 Gallas2 "Keep an Eye on These" Stocks NAVR (Attached) *** DECK has been added to our Final Universe List (VSEC, IDSA, HRT, LWAY, NVEC & NGPS have float outside normal parameters) <img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=641415>
Okay: I have learned something important from you. First, I did not know that Jack used this "method" to manage a fund or fund(s). Also I did not know that the fund(s) absorbed losses and shut down. If that is true (I have no reason to assume otherwise), then there are many possible reasons why a profitable strategy could show loss and even have to shut down. Most folks would assume that a profitable strategy would like the "goose that laid the golden egg". Nothing could be further from the truth. Actually the profitablility of a strategy depends in large part on numerous factors including market liquidity, execution skills, capitalization, hedge requirements, etc. This is in fact why successful funds do "whatever it takes" to keep good managers on their team. Personally I like what I know of the basic concepts. In fact, I am sure that with some modifications, there are several funds that use a version of this system right now. As with most things, the devil is in the details. This is why I have expressed questions about the way to determine both the "dry up" and "first rising volume" levels. Anyway, I am wasting your time. I appreciate your providing an honest reply. Best Regards, Lefty
lefty, he was refer to somebody else, Jack called himself an 'amateur' thus there was no possibility of him to manage OTM.
Thx Nkhoi, Appears you and I were making the same clarification at the same time... I'll remove my post Regards G33M4K the Newb
For clarification, Richard Dennis had to "shut down his funds after taking on large losses" according to manz66. Richard Dennis developed the Turtle Trading Method. Jack developed his system - a precursor to the one we currently trade - as a Grad Student in the 1950's after one of his professor's enlightened him to the possibilities of the stock market. Jack has traded profitably ever since revising his system somewhat with the invention of additional tools (Tc2000 vs stocktables.com) and / or development of superior indicators (i.e warden's Balance of Power). Perhaps, DKM can further clarify this, but I don't believe Jack actively managed other people's money. Rather, Jack knew many brokers and funds that "piggybacked" off his trades. While this clarification doesn't change the premise of your post, I wanted to clarify any misunderstandings. - Spydertrader