I've had a look at some of the Drummond Geometry material. I have a
couple of basic questions:
1. Does one need TradeStation to trade using DG?
2. The reason I ask is that I would like to day trade the SPI, Australia's equivalent to the S&P 500; how difficult would that be if one did not have access to trade station with the appropriate software?
3. What sort of win-loss ratio would a highly skilled DG trader expect to achieve day trading the S&P 500?
4. If one was to dedicate serious time to learning the system, what sort of time, realistically, would it take to learn? 3 months, 6 months or more?
5. Do you think if one is dedicated, that anyone can learn the system?
6. Would it be worth buying the book "Charles Drummond on Advanced P&L", to get a better understanding of DG, before committing to the full course? Or is the book somewhat dated & difficult to understand?
P.F.
Questions about the Course
Re: Questions about the Course
1) well, not technically, that is, we fully disclose the methodology and a few hardy souls have programmed the indicators for their own use on other platform, but practically speaking 99% of our customers use our indicators for TradeStation, as they are cost effective to use vs. the time it requires to write them from scratch for other platforms.
2) TS will let you import third party data, and so that is one possibility; another possibility is to seek out a copy of TradeStation 2000i, their older platform which can usually be found, especially outside the U.S. That version of TS requires a separate data feed and in that way can supply you with the TSI data. Failing that, then you are looking at some custom programming; the simpler indicators would be no problem but multiple timeframe overlays can be daunting to program.
3) Skilled DG traders can manage about 7 wins for 10 trades; see the day trading movie at www.pldot.com ...
http://www.pldot.com/outside-mog/outside-mog.php for some sample trades.
4) most people take at least 3 months for the course; some energetic folks have done it i 6 weeks, others take much longer. It depends on your prior experience, interest, skill, etc.
5) Generally speaking, yes. Definitely yes as to the intellectual/educational levels; we have students from all backgrounds, from high-school graduates to Drs, lawyers, MBA's etc. But not everyone has the personality traits that make for good traders: ability to withstand a loss, ability to control emotions, ability to believe in probable outcomes, etc., etc. This cannot be predicted and dedication has only a tangential relationship with the necessary elements.
6) The "Advanced Manual" when purchased separately runs for $1500.00, and we require that you first have the How to... Book and the Psycho papers.So it does not really make sense to buy them separately, since all books
including that one come with the course as part of the package. The reasonfor that is that the course is organized and presented better than theprinted material, though some of the books are very good. We prefer that both are studied as part of a single coordinated process.
2) TS will let you import third party data, and so that is one possibility; another possibility is to seek out a copy of TradeStation 2000i, their older platform which can usually be found, especially outside the U.S. That version of TS requires a separate data feed and in that way can supply you with the TSI data. Failing that, then you are looking at some custom programming; the simpler indicators would be no problem but multiple timeframe overlays can be daunting to program.
3) Skilled DG traders can manage about 7 wins for 10 trades; see the day trading movie at www.pldot.com ...
http://www.pldot.com/outside-mog/outside-mog.php for some sample trades.
4) most people take at least 3 months for the course; some energetic folks have done it i 6 weeks, others take much longer. It depends on your prior experience, interest, skill, etc.
5) Generally speaking, yes. Definitely yes as to the intellectual/educational levels; we have students from all backgrounds, from high-school graduates to Drs, lawyers, MBA's etc. But not everyone has the personality traits that make for good traders: ability to withstand a loss, ability to control emotions, ability to believe in probable outcomes, etc., etc. This cannot be predicted and dedication has only a tangential relationship with the necessary elements.
6) The "Advanced Manual" when purchased separately runs for $1500.00, and we require that you first have the How to... Book and the Psycho papers.So it does not really make sense to buy them separately, since all books
including that one come with the course as part of the package. The reasonfor that is that the course is organized and presented better than theprinted material, though some of the books are very good. We prefer that both are studied as part of a single coordinated process.