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Peter-
Thank you for stating so well and comprehensively my
own feelings on Drummond.
Maybe Drumond really is a brilliant recluse who took
nine figures out the market - or not - in any event,
he is as far as I am concerned just another 'dream
merchant' offering nothing more than a bunch of
gobbly-gook words of hope to the mass of trader
wanna-bees, in the same mold as tom demark, larry
williams, linda raschke, etc etc etc. As with all
such vendors, there is usually something of value to
be gleaned, but not much, and certainly not worth
$4000.
-Frank
--- Peter Hoon <phoon@xxxxxxx> wrote:
> 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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