There's no use in trying to convince anyone here, everyone seems to know of the thread but few are willing to do the work. They're hung up on the 3X the daily range. I dont care about that right now, all I know is within 6 months I am gonna blow my old #'s out of the water
Trouble is, Spyder posts his charts after the market closes. My broker won't let me trade yesterday's market.
Terrific attitude Steve and my bet is that you DO blow out those old #s. This society is stuck in the instant gratification way.....too bad life doesnt work like that.
What is jack hershey's Method? I am posting this as a courtesy to those who wish to know. The reporter's list for a news story is a common approach to getting a story on the table. This is focused on the "WHAT" part. A one pager will suffice. I have created a system. There is nothing new in it but the system is unique. A system is composed of a structure, a process and the system delivers results. The results vary according to the user and that is where performance is measured in terms of efficiency, effectiveness and optimization. Most people who use the system find that they do better than they have ever done before. The process of the system is a routine done only in the present and it is comprised of four parts: monitoring, analysis, decision making and taking timely action. Monitoring is done using a display and taking data sets. Analysis is pairing a data set with the appropriate element of a finite conclusion set. The finite decision set is comprised of five elements, one of which is paired to the selected conclusion set element obtained in the analysis. Action is required each time the routine is done. Holding is the most common action. To finish up, the structure is enumerated. The system is a template that can be applied to any market; the template is a pool extraction paradigm. It is a pairing of the market and a person who trades by a division of responsibilities. During RTH's money is extracted using three principles and the governing theorem of the market variables, the P, V relation. The three principles are: Money is made as price changes. you have to be in the market to make money. You have to be on the right side of the market to make money. The trader fits the common financial industry description of the informed, parasitic, front runner and anticipator. The market is displayed to provide sufficient data and data processed visuals for each level of trading skill (proved by profit money velocity). Subtending the displayed market and the routine done by the traders are trading platform and a logic display that determines the amount of extraction that is possible at any given time. Logs are kept, debriefing is done, and captal is used according to limitations imposed by the rate of pool extraction possible. Learning is done on the template in stocks first (PVT), then commodities (SCT), and then sector rotation. What is learned is the finite conclusion set, how to monitor, how to analyze, how to decide and how to act. Practical things are learned as well; these include logging, debriefing and setting up applications of capital and sweeping capital periodically. There are several levels of skills(6) and with these are associated levels of capitalization. There are upper limits of capital application determined by the markets. Not all people can do PVT and SCT. They elect out for several external and internal reasons. If you have a belief system based on the conventional ortohdoxy, you will not be able to understand or do PVT or SCT. You made this choice. If you want to do PVT or SCT, then you must choose to do the work to learn what is needed to do PVT or SCT. Anyone can mix parts of this into anything; it may or may not work out; that is your responsibility to determine. As someone stated, anything great can be written on one page and as another stated, it is impossible to write something that explains anything on one page. I think that making money is easy but it is hard to do the work to learn to make money easily. This thought is well proven by ET forums. People in ET who are not making money as it can be made, have not done the work. Inventing is not doing work; neither is criticizing those who have done the work. I have done the work as you may find out by working too.
Spyder's future journal is a learning journal, not a "live call" journal. The purpose of the journal is for people to learn the SCT method step-by-step. You can see the syllabus here: http://www.elitetrader.com/vb/showthread.php?s=&postid=1310181&highlight=syllabus#post1310181 At this stage, people are learning the channels and gaussians, etc. We practice drawing the channels in real time. Spyder posts his drawing at the end of the day, so that we can compare, and to see where we drew wrong. Many SCT trading decisions are based on the relationship between price and channel position, it is important that the trader draw the channels in the proper places. Thus the daily "drawing" exercise.
I'm a bit surprised by your post. Why is it that many Hershey followers assume that people who choose to trade in their own way are "unwilling to do the work" and assume, at least implicitly, that they are lazy? Why is it unreasonable to question the integrity of someone who has repeatedly made outrageous claims and has yet to substantiate them? Why are supposedly reasonable people not troubled by this very fact? Where there is one lie, there are usually more. Just like ants and cockroaches. You say that all you know is that you are going to blow your old numbers out of the water within 6 months. That's quite a statement, because your old numbers were quite impressive and very consistent. So, how can you be so sure? Have you started dabbling with a contract or two, and does it pan out as advertised? As a reasonably seasoned trader, what fosters such certainty in your mind?
Because they ask over and over and over again for proof (which is on here, which is being continuously supplied as well), questions that have been answered day in and day out and over and over again. The funniest part is that there are some people here working 5 times as hard to prove that it doesn't work than I did figuring out how to make it work. Now I simply don't have the time or the energy to try to convince someone that what I do to make money day in and day out actually works. It's ridiculous. TNG
welcome to the house, scroll down, download channel document link http://www.elitetrader.com/vb/showthread.php?s=&threadid=83604 also PM me on paltalk.