I know you must grow weary of contant inquiries concerning P&L/Drummond Geometry, but Ted gave me your e-mail address, so please forgive the intrusion. I am a full-time trader that has taken many courses, been to many seminars, bought more junk than anyone in the U.S.A. and Canada, and in summary, probably like everyone else, still looking.
I spent 400 hours in learning Robert Krausz's work, and traveled to many places, been to many seminars, but I am still not satisfied. I am asking the same two questions you get all the time:
Is Drummond Geometry something that can be learned by a normal person, or semi-normal person, and the really big question, Is it even worth learning? Can you apply the techniques to all markets, or do you have to relearn on every market you want to trade?
I trade the S & P and Bonds and prefer shorter time frames. I like the bonds, and have traded the S & P's for approximately 8 years.
If you could be so kind as to e-mail me your opinion I would be greatly appreciative. I am sorta hanging on the fence of whether I want to spend four months in learning a gentleman's work by the name of Ed Moore, or 300+ hours in learning Drummond Geometry. (Most of all of the work I see out there becomes so subjective, you couldn't trade it in real-time, because there are too many subjective points in the road that always lead to a dead end.)
Any comments you may offer would be appreciated more than you will ever know. Thank you
TJ
P&L School
Re: P&L School
I never grow tired of discussing P&L. I highly recommend learning Charlie's work. It is marvelous journey that is full of reward. If you are really willing to apply yourself and thus do the work, you will undoubtedly find a measurable degree of success with P&L; the extent of which is completely up to you.
I trade S&P, that's all. Plenty enough in that market for those who can find it, I'd say. The P&L methodlogy applies to all markets and all time frames. In fact, that is one of it's key elements -- mulitple time period analysis. I know some P&L guys who'll take a position for several months and others just for a few hours ... or even just minutes, I guess. To give you some examples, one fellow bought soon after the October low last year and just reversed a few weeks ago in the 1420 area. Another example, a more aggressive use of P&L on the September contract gave a sell signal on 7/16 in the close -- after being long for awhile -- to then go short for several weeks and reverse long on Tuesday at 1275 to then see if any kind of daily rally ensues. Those are just a few examples. Other's include pulling twenty or more whole points out in less than an hour on a very active day, or even making 30 points overnight in your sleep when the overseas markets are quite volatile.
Yes, it does take a lot of work, but the new lessons (as opposed to the old books) now facilitate a much more efficient learning process. The beauty of it is that you can either use just a handful of the tools to create a simple trading plan based on one type of trading for many markets (such as congestion action), or you can embrace the entire P&L theory and apply all five kinds of trading (trends, congestions, and everything in between) to perhaps just a sinlge market. Personally, I prefer the latter.
P&L teaches one how to truly 'read' the market and understand what the price action is telling you about it's energy structure. Then all one must do is simply take action and go with the Flow.
If I had to do it all over again, I certainly would. Climb on board and get ready to work hard. But also get ready to learn something really valuable for trading. It may very well change the way you view other things, too. I find that most all of my important decisions are much better as a result of the training and discipline I haved acquired through P&L And life itself is much more full.
I trade S&P, that's all. Plenty enough in that market for those who can find it, I'd say. The P&L methodlogy applies to all markets and all time frames. In fact, that is one of it's key elements -- mulitple time period analysis. I know some P&L guys who'll take a position for several months and others just for a few hours ... or even just minutes, I guess. To give you some examples, one fellow bought soon after the October low last year and just reversed a few weeks ago in the 1420 area. Another example, a more aggressive use of P&L on the September contract gave a sell signal on 7/16 in the close -- after being long for awhile -- to then go short for several weeks and reverse long on Tuesday at 1275 to then see if any kind of daily rally ensues. Those are just a few examples. Other's include pulling twenty or more whole points out in less than an hour on a very active day, or even making 30 points overnight in your sleep when the overseas markets are quite volatile.
Yes, it does take a lot of work, but the new lessons (as opposed to the old books) now facilitate a much more efficient learning process. The beauty of it is that you can either use just a handful of the tools to create a simple trading plan based on one type of trading for many markets (such as congestion action), or you can embrace the entire P&L theory and apply all five kinds of trading (trends, congestions, and everything in between) to perhaps just a sinlge market. Personally, I prefer the latter.
P&L teaches one how to truly 'read' the market and understand what the price action is telling you about it's energy structure. Then all one must do is simply take action and go with the Flow.
If I had to do it all over again, I certainly would. Climb on board and get ready to work hard. But also get ready to learn something really valuable for trading. It may very well change the way you view other things, too. I find that most all of my important decisions are much better as a result of the training and discipline I haved acquired through P&L And life itself is much more full.