No. But thanks for asking. (Aren't open forums a bitch? Perhaps you should contact your local moderator to invoke the Jack Hershey Patriot Act. It seems to have worked for the "Objections to SCT" thread. Good luck.)
Don't know much about Jack's method, so can't comment, but I do doze off occasionally when running into his posts. Too much thought process for my liking
I guess I understand why you have 3000+ posts, half of them are probably you crying about something or other. Here...just passed you a cyber tissue to dry your watered eyes
Im completely unbiased here.. Ive read enough of Hersheys method to see hes smart and that his system has validity. Its not the be-all-end-all. Its another tool. As for why he lost in some contest..who knows..everyone has a bad run at times. Maybe the competitors were better? I dont know that he claims to be the best trader on the planet. I look at it this way.. I think people who trade based on F/A are looney..but I dont go insulting or making fun of them when they post on this message board. You'all need to grow up and find something better to do with your time than make fun of ANYONE
Back to the title of this thread and away from the needless bickering, what IS his method? Is it simply "channel trading", and, if so, what kind of channel? Thank you.
Y do the clowns on this message board think one paragraph will explain how to trade. If it were that simple, everyone would be trading. Lucky for the people willing to do the work, he explains HOW. Its like saying.... tennis is about hitting the ball over the net in the court until the opponent misses or you hit a winner. That does little for learning how to play tennis compared to saying.....you hold the grip this way, the right stance is this way, you focus on hitting the ball 2 feet over the net,you anticipate the spin based on the way the other person hits the ball. One is a summary we put in encyclopedias. Thats what you have indicated you are looking for. The other way is learning How to play tennis from a practical standpoint. That is what I am looking for. Which is more beneficial to learning how to become a profitable trader?
It is channel trading, but more. You get to predict -- whoops! ANTICIPATE -- the turning points! "Anticipation, anticipaytion, is makin' me late, keepin me waitin' ..."
I use a combination of techinal indicators to decide on an entry point. I usually exit when the slope of a MA turns negative or when Momentum turns down. Often I end up with something that was a profit that turned into a loss. I wish I had better exits. From what I have read about Jack Hershey's method, it is mainly about Price Action. So I was thinking that it would be useful to incorporate into my strategies, however... honestly reading through that mess is painful. I've read the equitiy portion about the dry up volume, but I'm interested in the futures journal where he talks about price action. Spyder probably does the best job explaining the concepts, but the other folks out there... They are just way over my head. Spyder posts some background material that you must read. Honestly, I have no idea what they are talking about when they are explaining the concept. I've even go back and read through it a couple of times and I just cannot "get it fully" sometimes. Anyway, would anyone be able to recommend a book that talks about this channel concept? Chris
I think following Spyder's future journal is the easiest route. You have a number of people doing the exercises together and comparing notes. You will know exactly where you stand in terms of understanding the material.