Questions re: Drummond Course and Daily Updates

[Trader Question]

Any books or techniques that have been helpful for you or others that you know? Should I perhaps not trade 2 contracts until I have $50k in my account so that I can more easily withstand fluctuations of several thousand dollars?

R.J.

[pldot]

==withstanding helps but if you are wrong then you are wrong and wihstanding loss is not necessarily the answer runless you can double up, etc, and that technique has it's own difficulties. Best to solve the underlying problem first.

[Trader Question]

Also, I have been watching Drummond's blogs and am a little confused as to the indicators and techniques that he is using in his analysis. Is there an explanation somewhere of the green and red indicators/levels that he is using?

R.J.

[pldot]

==in the Mogs and the new indicators as you have seen...

[Trader Question]

Thanks again for your help, and the excellent course! It has far exceeded my expectations.

R.J.

[pldot]

==sounds like you have the right instincts and will improve over time

[Trader Question]

Thanks again for your insights - they turned out to be very helpful! I gave it some thought, and then after I watched the Euro exhaust on the daily into monthly, quarterly and yearly nearby resistance, I went short at 1.3689. I covered at 1.3445, as price went to the monthly envelope bottom, and weekly far out support.
It ended up being a great trade, and more than made up for the loss I took on the two contracts before. I will gradually work my way back up to two contracts, once I have a bit more capital.
I really enjoy the Drummond approach, and the way that you have put together an entire package of methodology, philosophy and psycholgy. It is exactly what I have been looking for, and I look forward to continuing my education in the months ahead. Thanks!

R.J.