The truth about Jack

Discussion in 'Chit Chat' started by DarkStorm, Sep 21, 2008.

  1. DarkStorm


  2. Jack is too busy extracting 3x the daily range from the respective particpants, to reply now, in an honest and straightfoward fashion to this thead.

    In no time at all, they will be setting back enough capital extraction, now, and proceeding at a rate that is 4 times the stated goal, blah blah blah, and so forth.
  3. hughb


    As of right now ET has 105,732 threads on it. How many of them are about Jack Hershey?

    When does this end? What is this fascination with Jack Hershey? He's just another bullshitter on the internet, are you guys shocked by that? Are you astounded that someone could spew gibberish on the internet and you just have to warn everybody?

    Please guys, enough is enough.

    One Jack Hershey thread per month, that's all that will be allowed from now on. (In any month that he uses the term "Gaussian" you may create two threads).
  4. DarkStorm


    Jack's too much fun not to ridicule :p
  5. Jack Hershey View profile
    More options Mar 3 2002, 12:34 pm

    Eddie is an former contributor here; he pooped out a while back for his
    reasons. As such, a lot of people can identify with him. His viewpoints of
    me have been fairly consistent, a lot of people identify with these too.
    Like nkhoi and uenal. He says:

    I have concepts that I espouse.

    I am a master of my writing style.

    I have some powers that I use.

    He feels the concepts do not work, that I write poorly for him to be able
    comprehend, and he wants to protect others from my intimidation.

    To be helpful to Eddie, I recommend a concept that will work for him: put me
    on ignore.

    If he can't understand this or it's intimidating (sort of sounds like it to
    me) or it's not to his liking, then he should continue to be my foil as he
    has in the past because he enjoys it. I can use his comments to clarify
    where he is coming from and the possible ways to undo the situation he is in
    and why he got there. It is helpful to me too when I do this because I can
    focus on the NLP aspect of where people get stuck in not becoming wealthy.
    We can use Van Tharp, Tad James and Meyers-Briggs as the focus.

    Eddie always makes requests of me and others, without exception. He needs
    several things this time:

    One simple testable trading pattern.

    An acceptable test, to him, to show "a positive expectation" for the above.

    So lets see if Eddie wants to put me on ignore of if he wants to be my foil.
    What I am personally going to do is imagine this as a junior high classroom.
    And Eddie is there too most days. He has loads of Arm's and uses them. I do
    not want to expand on this classroom scene at this point but I do want to
    see it develop into a sophisticated place to get the record straight on this
    lap with Eddie. If you goggle Eddie you can see the other classes he is
    attending and how he is using his Arm's in them.

    The simple trading pattern, a concept in TA, that I think will be most
    rewarding for Eddie to begin with is the support/resistance pattern that
    forms all trends and non-trends.

    The other item, "a positive expectation" is Eddie's job to create since it
    is his test criteria. He might do it at various levels of significance.
    Level one for me is done with a straight edge and an eraser and a pencil and
    a thousand charts. I will be looking for two points on the bottom and two
    points on the top. We may get into details related to making money. I will
    scour my notes to find a simple rule that might apply if Eddie gets to the
    place that besides a pattern you need a corresponding algorithm or a least a
    couple of rules. So far he hasn't understood this as yet. I prefer to
    forward test these things but back testing should not be too hard if anyone
    wants to do it. If Penal does it, then I recommend that he set up a Asian
    distribution in his plan before he embarks on an analysis. This will help
    Eddie out a lot because he needs to learn what a valid and statistically
    significant test is.

    I especially like the second item, because I think we can all find out what
    "a positive expectation" is very soon or never if the term is in the
    incoherent category. We can put all the concepts that do not meet this
    result in a category that is the subset of things that do not work for
    people like Eddie. Eddie cannot use the whole spectrum of concepts because
    of his personal programming. The pair that exists for making money is: the
    algorithm and the operator. An algorithm might work but the operator might
    not work. For example, Eddie has determined at this point that I have
    concepts, he says, and he says as a topic sentence that I can't trade. I am
    an example of the pair. So is Eddie. We do not know his algorithm for
    making money as yet, though.

    Lastly with respect to the thread, I feel it is fortuitous that the
    originator is deep in research of this sort and that he continues along this
    path. It draws all this kind of thinking to one place and provides a
    terrific platform for what you are going to see until Eddie poops out again.

    Eddie Roberts" <> wrote in message news:3C81B254.24816B55@n
    > It's always been my opinion that Jack can't really trade. But he's a
    master at writing
    > incoherant and rambling posts that intimidate people into thinking he's
    got the answers.
    > And look at how Dufferdon is totally transfixed by his hero, Jack. So
    much so that he's
    > actually put up a website (shrine) dedicated to Jack's teachings! LOL!!!

    > Jack, if you're reading this, I'll publicly apologize to you in this forum
    if you can
    > post in clear and understandable English even one simple, testable trading
    pattern that
    > has a positive expectation. But I won't hold my breath.

    > To everyone else, think about the following. If the derivation of

    Einstein's formula for
    > time dilation during travel through space can be explained to and

    understood by freshman
  6. DarkStorm


  7. LMAO BB, you are one funny mofo ... :D

    The real mystery is why otherwise very intelligent human beings can't wait to chuck quarts German beersized mugs of jack's koolaid? :confused:

    Eventually calling it quits when they fail to understand the primary relationship between:

    1) Gaussians
    2) FFT
    3) Pool extration
    4) Dominant traverses

    and trading ... mainly because there isn't one.

  8. Here's my view of Jack Hershey in a nutshell.

    Jack churns out fantastic, unsupported claims that he never provides proof of, like this:

    But in reality he LOST 24% in a trading contest and unsuccessfully tried to obfuscate his way out of it on Usenet:

    He also tried to BS his way out of yet more of his sinking stock picks that lost $22,000:

    In Oct 06 Jack told his IBD Group (now led by someone else) that he would turn $10 thousand into $1 million in 100 days and post updates on ET. IT DIDN"T HAPPEN.

    No surprise, because if you backtest his model of the price, volume relationship by buying the "0 to 7 turn" described in "Tomorrow's Paper Today" you'll get an equity curve like this:
    <img src=>

    Which looks eerily like the equity curve you get when you test his "rocket" methodology:
    <img src=>

    Kind of what you'd expect from someone who thinks stochastics is a leading indicator:

    Of course Jack and his followers try to blame the failure of his "methods" on the backtester, so listen to Jack brag about this trade in his own words:
    <img src=>

    Some unfortunate newbies who get sucked in by Jack's pied piper routine start out ingratiating and actually believe Jack is giving away the "keys to the kingdom." But this one eventually came to his own conclusion that Jack is "nuts":

    How far down this path do you want to go?
  9. <img src=>
  10. #10     Jul 19, 2009