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I have traded for a number of years and at the end of each year I have a
large pile of brokerage statements. If Charles Drummond has made nine
figures he would have tens of thousands of brokerage statements. The idea
that they clain he made nine figure but do not provide brokerage statements
is huge red flag. They should take the statements from his best year and
photocopy them and put them in the course. I do not believe he made nine
figures trading descresionary trendlines.
Regards
Robert.
----- Original Message -----
From: "Peter Hoon" <phoon@xxxxxxx>
To: <omega-list@xxxxxxxxxx>
Sent: Thursday, February 08, 2001 1:31 PM
Subject: RE: Drumond market geometry
> 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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