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Drummond Geometry P&L School Lessons 1-30

Drummond Geometry P&L School Lessons 1-30

Drummond Geometry P&L School Lessons 1-30

INTRODUCTION It is a unique form of market tahlil developed over a thirty-year period by the legendary Canadian trader Charles Drummond. Drummond Geometry is both a trend-following and a congestion-action methodology. It leads rather than lags the market, and uses projected charts to map future market activity. It foretells the scenario most likely to occur […]

Drummond Geometry

Drummond Geometry P&L School Lessons 1-30

INTRODUCTION

It is a unique form of market tahlil developed over a thirty-year period by the legendary Canadian trader Charles Drummond. Drummond Geometry is both a trend-following and a congestion-action methodology. It leads rather than lags the market, and uses projected charts to map future market activity. It foretells the scenario most likely to occur in the immediate future and can be custom fitted to one's personality and trading style. This unique form of market tahlil has been worked out in great detail. The techniques have been tested over several decades by traders on five continents and have been applied in many different markets employing various trading styles and timeframes, from intra-day to multi-year trades. Drummond’s writings and the current work of the P&L School contain a number of trade plans with impressive pro-forma track records, and the profitability and efficacy of the methodology have been attested by a number of successful traders. The key elements of Drummond Geometry include a combination of the following three basic categories of trading tools and techniques: • A series of short-term moving averages • Short-term trend lines • Multiple time-period overlays Many of the fundamental concepts of this methodology are simple in nature, but have been worked out to a high degree of sophistication. In this introduction, we will look at the PLdot, the first major building block of Drummond Geometry. PL stands for Point and Line, two of the main techniques of Drummond Geometry. The concept of “flow” is central to Drummond Geometry. This methodology reflects how all of life moves from one extreme to another, flowing back and forth in a cyclical or wave-like manner. The markets also move with a rhythmic flow that traders can learn to see. By discovering the flow’s underlying form through visualization, traders can then monitor the market’s flow and utilize that information to realize a profit. This is one important function of the PLdot. The PLdot is a series of points which describe the consensus of market activity in a mathematical sense. The first thing to note is that the dot bears a constant relationship to the immediate past -- something that captures the recent energy of the hour, of the day, or of whatever time period the trader is looking at. The PLdot moving average has been empirically arrived at and has proven its usefulness in a multitude of markets. The PLdot moves in a straight line when the market is in a trend, but moves horizontally across the page in congestions. It is extraordinarily sensitive to trending markets, and is very quick to register the change of a market out of congestion into trend. But it is sensitive to a trend that is ending as well. http://www4.picfront.org/picture/qHJueEWmZXF/img/1.jpg On this chart of the weekly S&P 500 Index, we see the PLdot move in a relatively straight line horizontally across the page on bars 3,4,5,6,7, and 8. Then we see a short down trend and following that the dots move in a straight line upward for the last 5 bars of the chart. The tendency of the PLdot to move in a straight line can be very helpful in monitoring a trend. The trick is to know exactly when and where "a long way away from the dot" actually is. The action of the PLdot along with short-term trend lines, time frame tahlil and many other Drummond Geometry tools and techniques can help traders determine when that point is likely to be occurring with a high degree of certainty. The art of Drummond Geometry as a method of technical tahlil comes in the application of these tools in various combinations under various market conditions. http://www4.picfront.org/picture/4g1Zgah2qO/img/1.jpg On this bond chart we see a number of bars marked with the "Return to the PLdot" pattern. When prices move far away from the dot, the trader would be alert to signs that the market will turn and return to the PLdot. Thus in the fourth full bar we see that the market is far away from the PLdot, and moves back to it. The market continued through the PLdot and in the next nine bars we see good examples of this tendency for price to return to the vicinity of the PLdot. In each of these situations the trader would take a position against the trend by going short at the apex of the bar. The exact price at which to take a position would be marked by other Drummond Geometry tools such as the short-term trend lines and the time frame overlays. But the tendency of the market to turn and retrace its path when it is far away from the PLdot and move back to the PLdot is a constant in the market that is enormously helpful to the trader as he or she attempts to anticipate direction. When used by a trader knowledgeable in Drummond Geometry, these two main sets of tools - the short-term moving averages and the short-term termination trend lines -- can establish support and resistance areas in the near-term future with surprising accuracy. http://www4.picfront.org/picture/z0kKAR1KeZF/img/1.jpg On this chart these two tools are shown in action. The trend is defined and supported by the PLdots, and the Drummond termination lines forecast the extremes of the bars. The green areas above and below the last bar to the right show the support and resistance zones. These zones are defined by the Drummond Lines. Consider: 1) The Drummond Dot and the Drummond Geometry support and resistance lines appear on any timeframe, e.g. daily, hourly and 15 minute. 2) If market tahlil is coordinated to show the interaction of these timeframes, then the trader can monitor what happens when the support and resistance lines of the different timeframes coincide. This is an extremely powerful concept, because support or resistance on one time period has a much higher likelihood of holding when it is backed up by support or resistance on a higher time period. About the Authors Charles Drummond was born and raised in Ontario, Canada. As a young man he enjoyed studying literature and geometry in school. His market experiences started in a conventional way with various experiments in buying stocks and commodities. He lost money on penny stocks, he lost money on futures contracts, he lost money following broker recommendations. After these losing experiments, he decided that if he was going to lose money, it would be in his own way, and not following the recommendations of others, and began his serious study of the markets. During the 60s and early 70s, as he was trading in a variety of markets, Drummond developed the basics of his market theory, and published these findings privately in a series of books, starting in the late 70s. During the 90s he has continued to add to his theories and develop new insights and has published a number of significant enhancements. Drummond has always had a small group of private students and his theories have been taught by several market technicians. However, Drummond himself has always preferred to maintain a low profile and generally eschews publicity and public exposure of any kind. His students have all been bound by non-disclosure agreements, and by an understanding that they were privy to a rather special set of information that is worth holding closely. Thus most of Drummond's insights have remained in private hands and have not been widely distributed. In this current electronic format the lessons will be more accessible, but they will still be carefully controlled. If you enroll as a student and undertake to complete these lessons, you will join this small elite group, and you also will sign a non-disclosure form covering the contents of these lessons, and the books and materials which accompany them. We ask that you "keep the faith" and abide by both the spirit and letter of this agreement. Little can be gained by the participants if this information is available on every street corner and used by every market participant. "Charlie" currently lives in Eastern Canada where he trades every day, raises prize game birds and hogs, and maintains an organic vegetable farm. Ted Hearne is a trader and consultant who lives in Chicago; he has been studying P&L methodology privately with Charles Drummond since the early 90s. He was until recently member of the Mid-America Commodities Exchange, and has written about Market Profile and other trading methodologies. In the course of his research into technical tahlil, Hearne has also investigated the psychology of trading, and has practical expertise in the field of hypnotism. His experiences in this area led him to develop a series of self-hypnosis tapes, which coordinate with the P&L methodology and lesson plan. Hearne was born and raised in the Eastern United States and now lives in the Midwest. His undergraduate education was at the College of Wooster in Ohio and the Middle East; his graduate education, at the University of Chicago, focused on literature and psychology. Prior to his work in the markets, Hearne worked as a foreign correspondent, a film producer and director, and a consultant on mass communications and behavior change. In the 1970s and 1980s Hearne founded and managed a 30-person communications firm with a national client base. He is a professional writer, and has had an extensive career in communications involving award-winning print, film, and multi-media productions, for a wide range of clients. Hearne is currently writing on labor economics and other topics, developing software, and trading. Course Outline The course consists of 30 lessons in all, packaged in five lesson segments. Each lesson consists of four sections including * a section on philosophy; * a section on the psychology of trading; * a number of illustrated examples; and * exercises and suggested research projects designed to help the student cement the knowledge and make it firmly and fully part of his or her trading base. A Certificate of Completion will be issued to graduates. The course is available via CD's in an interactive format with extensive supplemental information available through the internet, and includes telephone and email suppoort. Program security limits installation of the Lessons to two computers in the same household (normally a desktop and a laptop computer). Tuition and materials fees do not include shipping costs. Normal shipping is via Federal Express 2-day service. Write or call for delivery alternatives. Full Course: Lessons 1-30 plus associated materials and support: $4,050.00 In Lessons 1 through 10 we develop a clear understanding of the basic theory of P&L. In Lessons 11-20 we will sharpen our focus and learn more about how, exactly, we put theory to work. When we think of trading, what is the focus, the procedure by which one makes a trade? The answer lies in knowing what kind of trading is occurring, and what the next kind of trading should be, according to the theory. If you understand both when a predicted type of trading should occur, and where it actually is occurring, then you have a leg up on the market. In Lessons 11-20 we will build an understanding of the flow of the different "types" or kinds of trading. . .that is, when to expect a certain type of trading, and what to expect following that, in a logical sequence of frequently seen market patterns. In Lessons 20-30 we will deal with expectations based on these "kinds of trading," and get more into the predictive aspects of trading. Each package of five lessons is $700, plus $75 material fee plus shipping costs. Completion of each five-lesson segment entitles three-month access to the restricted areas of the PLdot.com website, including all of the special market updates and studies posted in the "Institute" section by Charles Drummond. Upon completion of lesson 15, 20, 25, and 30, the student is eligible for continued access to the PLdot.com website for three months for each five-lesson segment. Here is the indicator pack: No file, if any, is stored in our servers. 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