Hi jack, I know that you know. You say you began trading in 1957, how long did it take you to come up with your observations? I wonder at how you managed to put together your method so succinctly. M.A.D.A know what to monitor know how to analyze it know what decision to make as a result take the action repeat as often as necessary so simple. I love it.
Thank you Swordsman The Swordsman (R. Raskolnikov) is a great example of the stages a Hershey trader goes through while studying Jack's "teachings." Stage 1 -- Eagerness and Ingratiation licking my chops as i only get better yes, agree jack and spyder are great, jack is a little tough to follow but his teachings, once untangled, are very helpful! http://www.elitetrader.com/vb/showthread.php?s=&postid=1563544&#post1563544 Stage 2 -- Delusion and Defensiveness Im sure you probably didnt know this but actually on the very first page of the "Spydertraders Jack Hersheys Futures" thread there are links to many pieces of info for people to do their due dilligence first, ranging from the terminology to concepts to just basic background info. Anyone who read that stuff and continued on would never been seen as following a guru blindly. And it cleary states that one should read all the associated links before moving on. http://www.elitetrader.com/vb/showthread.php?s=&postid=1862711&#post1862711 Stage 3 -- Denial I've repeatedly told you I don't trade SCT only that I asked some questions over a year and a half ago http://www.elitetrader.com/vb/showthread.php?s=&postid=2082939&#post2082939 Stage 4 -- Acceptance Not once have I ever spoken to Jack Hershey and for all I know he's a shitty trader like you all say. http://www.elitetrader.com/vb/showthread.php?s=&postid=1753104&#post1753104
I inked this chart Left half showing. Used WSJ year to date hi lo to find high Beta (not named that then, though) Back penciled the daily H,L,C and volume drew channels and could see overlap Volume coming out of dry up was signal. Peaking was what is now called FTT. Did 40 trades a year @over 10% per trade. Taught overs; we shared brownline prints 11 by 17 B size mil spec. The MADA just was there and we all knew the P,V relation by page 7 of Magee ED 4. I was recruited ro stay on falculty but I went to IBM. Faculty traded and didn't need salaries..... IBM was a gogo situation with 80% of world market. I summered in Europe.. extra weeks with full pay... Bougt sports Mercedes, etc.... Wife and her sis were models.... Greenwich and sailing then switzerland and skiing and soccer. Later Bucks Country PA with two kids and prep school life. Finally spent time on Ford Foundation seed grant to write on water quality (my choice to kick off environmental movement) EOP after that and UCSC. Alcohol in gasolene and writing EIS for NEPA after 92-500 CWA. Psychiatry at Jung and Mich. Finance at Wharton. Arch at Tennessee and environment a Lincoln, Wash U, MIT, etc. 31 books as academic. First public corp on exchange was Apollo did TFSE with 5 privs to take control Was doing inventions in environ up to then. Went into meds in AZ and got older. PC got invented as did copier so trading was easy from them on.
Don't forget to stop in the gift shop on your way out and buy the limited edition Jack Hershey paper trading doll to commemorate his stellar 24% loss in a trading contest in 2002 that he didn't have the integrity to finish.. limit one per customer <img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=2428031>
Yeah... you've mastered hindsight alright Too bad it didn't work out like that in the trading contest.
Nice work Jack, you got Acrapolis/Matez right where you want him....searching out 2 year old threads about you and being the first to post on them! http://www.elitetrader.com/vb/showthread.php?s=&threadid=102683&perpage=6&pagenumber=31