I am enjoying the lessons very much. Only gotten through lesson number 3 at this time.
There is a lot of information to digest! Very impressive so far.
I'm not ready for more lessons yet, but I am excited and anxious to begin using your audio tapes. I am also looking forward to reading Mr. Drummonds' original book. I am quite excited by the possibilities this method is offering. I do not want to rush through the experience though. I am aware that this material must be digested and made my own before I can use it well.
CH
Excited and Anxious New Student
Re: Excited and Anxious New Student
There is a lot of material for sure, and it will take a bit of time to get the framework in place.
By Lesson 10 The bulk of the terminology will be explained and that should make the rest of the materials and the website more understandable. I usually suggest that traders put the books on the shelf for a while until they get the initial lessons under their belt, with the exception of the How to... book and the Psycho paper's book... which can be dealt with at any time. But that is only a suggestion and people are all different in their preferences.
By Lesson 10 The bulk of the terminology will be explained and that should make the rest of the materials and the website more understandable. I usually suggest that traders put the books on the shelf for a while until they get the initial lessons under their belt, with the exception of the How to... book and the Psycho paper's book... which can be dealt with at any time. But that is only a suggestion and people are all different in their preferences.
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Trader Question
- Posts: 709
- Joined: Thu Oct 09, 2008 7:31 am
Re: Excited and Anxious New Student
I will take your advice and not read the books until I finish lesson 10. At this rate, it may be September.
I have been drawing the dots and lines on the Wheat market for the past 2 weeks, and it is absolutely amazing how the market will touch, or just break one of the lines and then turn around for a few days, moving to another one of the lines then stopping, and so on...
Right now, Wheat has run into a Monthly resistance line (5/3 I think), and it has turned around and moved down. This resistance was not found on the Weekly chart though.
It was found on the daily chart. Right now, I am beginning to wonder how all the different time frames interact, because the lines must be valid in all time frames they appear in.
But Yearly, Quarterly, and even Monthly move so slowly that the daily and weekly can go up and down several times it seems before the Monthly, Quarterly, and Yearly are finished playing out.
It is a little confusing at this point, but really very interesting. I am both hopeful and optimistic that I will someday be able to make some money with this method.
CH
I have been drawing the dots and lines on the Wheat market for the past 2 weeks, and it is absolutely amazing how the market will touch, or just break one of the lines and then turn around for a few days, moving to another one of the lines then stopping, and so on...
Right now, Wheat has run into a Monthly resistance line (5/3 I think), and it has turned around and moved down. This resistance was not found on the Weekly chart though.
It was found on the daily chart. Right now, I am beginning to wonder how all the different time frames interact, because the lines must be valid in all time frames they appear in.
But Yearly, Quarterly, and even Monthly move so slowly that the daily and weekly can go up and down several times it seems before the Monthly, Quarterly, and Yearly are finished playing out.
It is a little confusing at this point, but really very interesting. I am both hopeful and optimistic that I will someday be able to make some money with this method.
CH
Re: Excited and Anxious New Student
===suggest making a 1 or 2 page précis of each lesson. Suggest further making an index as you go along, as to which topics are treated on which screens; we never did this and it will be useful to you later when you review.
===Yes, it is indeed a revelation. These support and resistance levels are very, very good.
====I don't follow wheat and so just took a casual glance at it but there was weekly resistance in the 1-1 high zone. You'll get into this on Lesson 6-7. As you move through the Lessons eventually we will group these support/resistance lines into areas/zones that will be helpful, and somewhat simplify the task of analysis.
===timeframe coordination gives great power to the analysis, since if you can say that you know the weekly ( or monthly) high is in and the projected weekly ( or monthly) low can be seen far away then you can make a good trade with some confidence.
===Yes, of course, each timeframe is playing it's own game, within the framework of the higher timeframes.
===naturally lots of confusion, is normal. It will take a while.
===You seem to be attune to the right things....
===Yes, it is indeed a revelation. These support and resistance levels are very, very good.
====I don't follow wheat and so just took a casual glance at it but there was weekly resistance in the 1-1 high zone. You'll get into this on Lesson 6-7. As you move through the Lessons eventually we will group these support/resistance lines into areas/zones that will be helpful, and somewhat simplify the task of analysis.
===timeframe coordination gives great power to the analysis, since if you can say that you know the weekly ( or monthly) high is in and the projected weekly ( or monthly) low can be seen far away then you can make a good trade with some confidence.
===Yes, of course, each timeframe is playing it's own game, within the framework of the higher timeframes.
===naturally lots of confusion, is normal. It will take a while.
===You seem to be attune to the right things....