Whilst waiting for the book to come I was curious as to the efficacy of Drummond’s methods on a day trading basis. I realize he was a longer term position trader but have you traded his methods off of say 3 – 15 minute charts. I exclusively day trade the ES based on patterns and countertrend signals and I write my indicators/strategies in EasyLanguage. I ask this question because I see you have coded his body of work into EL for TS and would be interested in buying the software (after taking your course). I would appreciate a candid answer since the course is relatively expensive and time consuming which would be a concern to find out only later that his trading methods efficacy doesn’t fit my trading style.
M.W.
DG and Day Trading
Re: DG and Day Trading
The methodology works fine on a daily or intraday basis.
Charlie has done both intraday trading and longer term trading and has been very successful at both, as are many of our students.
In the course there are whole lessons devoted to intraday trading and there are many hours of discussion, flash movies, and other materials on the private website dealing with intraday trading, and with the E-mini in particular. We find that many of our students start out using very short-term bars such as you mention but then lengthen their timeframe somewhat (but still trading intraday) as they discover the effectiveness of hitting the daily highs and lows.
We look forward to working with you.
Charlie has done both intraday trading and longer term trading and has been very successful at both, as are many of our students.
In the course there are whole lessons devoted to intraday trading and there are many hours of discussion, flash movies, and other materials on the private website dealing with intraday trading, and with the E-mini in particular. We find that many of our students start out using very short-term bars such as you mention but then lengthen their timeframe somewhat (but still trading intraday) as they discover the effectiveness of hitting the daily highs and lows.
We look forward to working with you.