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Would welcome criticisms, disagreements, rebuttals, especially from Drummond
traders, of the following impressions upon visiting the Drummond Geometry
website (www.Tedtick.com):
Author Ted Hearne claims that Drummond is a reclusive, brilliant, Canadian
trader, "partially retired" in Nova Scotia, whom author Hearne claims took
"nine figures out of the markets".
1) Looks like another "discretionary system", with all the problems that
implies: It will boil down to your ability to subjectively apply rules
stated in "lessons", that in total, cost $3475. Will you be able to get
through 30 lessons, (each block of five will cost $695) and have something
concrete you can trade with at the end of the tunnel?
2) Looks like author Ted Hearne is the "popularizer" of Drummond's methods,
in these lessons; you will end up getting Drummond second hand via Hearne.
3) A sample of the writing style, in the first lesson, indicates long
winded explanations that are hard to operationalize. I kept asking myself:
"When is the author going to get the point and tell me how to trade with
this?" Lot's of talk about "energy flow", etc. ("Deep Learning" Hypnosis
Tapes are available for an additional $45). Been there; heard that. In fact,
in a review cited by John Hill of Future's Truth, Hill states: "It [the 30
lesson course] is not inexpensive and unless one is willing to devote many
hours to studying the material, you may not get value." Even if you do
study intensely, and "get value", will you be able to trade successfully
with it?
4) Drummond Geometry indicators for Trade Station are available at still
additional cost ($605), so we are up to about $4080 with no Easy Language
system code.
5) No evidence by author Hearne that Drummond's methods can be concisely
written and tested via Easy Language on various markets and time frames. A
bare bones "track record" is reported, but it is clear it was obtained via
subjective rule application (by John Hill? by author Hearne?). I think you
would end up pulling your hair out trying to write testable code in all the
"multiple time-frame" charts that the Drummond method employs.
6) Even if Drummond's entry rules result in decent entries, the method in
total will end up being only as good as the stops and money management that
go with it. One would need EL system code to optimize stops on today's
markets and timeframes of your choice, and that is not available.
7) There is a bright spot, and potential value for the dollar: Drummond
himself published several books, each of which will cost $170. For example:
"How to make money in the futures market - and lot's of it", 1978, Drummond
Publications, looks intriguing. (Unfortunately, the publisher is not a
standard one such as John Wiley, McGraw-Hill, etc., so you probably cannot
order it from Amazon.com at a lower cost.) However, this book could be a
good source of ideas for indicator and system testing in Easy Language.
Peter Hoon
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