Drummond Geometry

[gboos 10]

@TRADERXMAN

 

Maybe you can show us some examples that TS is not so accurate like it should be. It would be nice to see a confirmation on your opinion.

 

Regards.

 

Mike

[traderxman 10]

Take your DGII indicators for example...a simple test, try placing them on a 15 minute chart (sub bars 4)...i.e. a 60 minute envelope on a 15 minute chart and then take note, that the 60 minute envelope plotted on the 15 minute is way different than the actual 60 minute envelope itself.

 

All other intra day indicators, including DI, daily on intra day are inaccurate.

 

Take some time and get to know your indicators.

 

The concepts are valid, the indicators will make your head spin...

 

Not trying to shit on this parade, like the fact that someone has taken an interest in what I believe to be the best way to look at the market, I have been studying various methods since 1996. Big deal,I'm sure there are many others here that have more experience.

 

Success is making shit turn green IMO. Drummond has the ability to help withrespect to that. They have new indicators.

Edited April 21, 2009 by traderxman

[JPx2 10]

I guess what has enthused me all these years is the charts themselves.

Agreed that all these indicators have to be in place to make the system work.

However, can we consolidate all the scribblings on the chart to show just the Buy/Sell signals.......(assuming the actual indicators are running in the background).

JPx2

[traderxman 10]

Point well taken...

 

Lesson #1 (loss of the pldot poosh up, in this case)...red arrow down

 

Great lean...a quarterly level

 

Now dig deep and learn.

 

The 2nd horizontal mark (just under the red arrow, is placed 1 bar into the future) not some indicator shit that lags

 

When the marks point sideways, you have confirmation a top is in.

[Szymon 10]

Hi Guys,

 

To all those traders that are using Drummond for their trading is anyone of you have developed an indicator for the Trend Run, Trend Congestion Entrance, Congestion Action and Exit.

 

Can somone post a picture of your charts with that indicator on.

 

Thanks

 

Simon

[traderxman 10]

An indicator for congestion is also called a dotted line.

 

This is lesson #1, the loss of the pldot push.

 

The indication of this is when we have no c waves up.

 

The c wave is a close beyond the envelope....so no more closes up, the crowd has lost its interest in driving price.

 

In the chart previously posted (2 posts back) the red arrow and bar before conform to this indication, 3 bars b4 the red arrow down, this is called a c wave...notice how they stopped...then you got congestion enetrance.

[Szymon 10]

An indicator for congestion is also called a dotted line.

 

This is lesson #1, the loss of the pldot push.

 

The indication of this is when we have no c waves up.

 

The c wave is a close beyond the envelope....so no more closes up, the crowd has lost its interest in driving price.

 

In the chart previously posted (2 posts back) the red arrow and bar before conform to this indication, 3 bars b4 the red arrow down, this is called a c wave...notice how they stopped...then you got congestion enetrance.

 

Hi TraderXMan,

 

I was referring to lesson 11,12,13,14.

 

Trend Runs, Congestion Entrance, Congestion Action and Congestion Exit once you go into congestion entrance that is where you setup the dotted line and the block level.

 

I have created a indicator for the the trend run, congestion entrance and congestion action.

 

Have a look at the attachment.

 

Simon

[traderxman 10]

Looks interesting...where is your entry for ?

 

Maybe you can explain the conditions with arrows for us old farts

[freddominiont 10]

Hi,

Am very new to forex and would like to know how to use the fibonacci time projection for end of corrective wave four. Anyone to help please?

[Tams 20]

Hi,

Am very new to forex and would like to know how to use the fibonacci time projection for end of corrective wave four. Anyone to help please?

 

 

 

maybe you can read the thread, then tell us in more detail on how we can help you with the fibo time projection?

[Tasuki 10]

What am I missing? I've been reading over the posted pdf files and trying to figure out this Drummond stuff, and so far, it looks like it's just a rehashing of trendlines and moving averages. Clearly, I must be missing something because you folks seem to think there's something here. Is it just the way Drummond uses these basic tools that makes his method powerful, or are there more sophisticated tools that I'm not seeing?

[Tams 20]

What am I missing? I've been reading over the posted pdf files and trying to figure out this Drummond stuff, and so far, it looks like it's just a rehashing of trendlines and moving averages. ...

 

 

 

That shouldn't be surprising...

because about half the Technical Analysis under the sun is a rehash of trendlines and moving averages.

 

;-)

[BlowFish 10]

What am I missing? I've been reading over the posted pdf files and trying to figure out this Drummond stuff, and so far, it looks like it's just a rehashing of trendlines and moving averages. Clearly, I must be missing something because you folks seem to think there's something here. Is it just the way Drummond uses these basic tools that makes his method powerful, or are there more sophisticated tools that I'm not seeing?

 

The latter, the full course represents about 40 years of his work and research. He is an inveterate researcher and there is a vast amount of material. That would be my biggest criticism, actually! Whist it is comprehensive and efficacious there are much more straightforward ways to trade. It is likely to take thousands of hours of study to really 'get it'.

 

The most powerful aspects are his ideas how price moves (though experienced traders will find some familiarity). The (rigorous and unambiguous) classification of types of market action (e.g. trend, congestion entrance, congestion, congestion exit etc.). And the big one - multiple time frame analysis which looks at the subtle interaction of all of his tools and techniques on multiple time frames.

[Angel 10]

Hi Szymon , in one of your post you wrote this:

"I have created a indicator for the the trend run, congestion entrance and congestion action".

Are this the indicators on the picture? This are for TS

platform or for other software ?

I know Drumond from many years , I think the first time that Ted sold the lessons . I did stop to use all the indicators because now I use Ninja.

Someone that did programmed this indicators for Ninja ?

Angel

[Angel 10]

Hi Blowfish ,

 

why not intraday on intraday ? You wrote :

 

"Heres an image...though I don't tend to use intraday on intraday"

[BlowFish 10]

I tend to use day and upwards on intraday though no reason why you could not use an hourly overlay on a 10 minute (I have in the past). It all depends on what you want to see which depends on the moves your are trying to capture. I am not really trading from P&L charts at the moment though have in the past.

[jrob6519 10]

does it work on forex as well?

[Szymon 10]

Hi Szymon , in one of your post you wrote this:

"I have created a indicator for the the trend run, congestion entrance and congestion action".

Are this the indicators on the picture? This are for TS

platform or for other software ?

I know Drumond from many years , I think the first time that Ted sold the lessons . I did stop to use all the indicators because now I use Ninja.

Someone that did programmed this indicators for Ninja ?

Angel

 

Hi Angel,

 

the indicators that I developed are for TS Multicharts, I am going to put more effort and upgrade my ram on my computer, it looks like my computer is a bit too slow with 1meg ram on it, so I am going to get a brand new computer with a lot of horse power and attach four monitors as I developed other software that I use with Drummond Geometry. This is good because my other software calculates time and price points in future, combine this with Drummond Geometry methodology just gold.

 

Simon

good trading to you all.

[BlowFish 10]

does it work on forex as well?

 

Any market. The method simply uses price data from multiple time frames.

[traderxman 10]

if you follow drummond in the least you know the nearbys are the indicator that is THE systems heart...developing code on this...i seriously doubt it since you would have had to crack a special program to get...

[BlowFish 10]

As I have mentioned to you before I first became acquainted with Drummond ooo I dunno early 90's. I thought I had proved my credentials then

 

Nearbys (and father out) areas are important but the key is to apply them in multiple time frames. In essence you want to see focus time periods nearbys holding in higher time periods key areas. There is an argument that the indicator is a crutch for those that don't have the skill (or inclination) to draw them for themselves. You'll notice that Charlie will frequently hand draw daily overlays on intraday charts.

 

Anyway with that caveat I have developed complete sets of indicators (including nearbys and fartherouts and the higher time period overlays) for Ensign (ran too slow) Neoticker and Tradestation. I plan on doing Ninja some time soon as its a good way to learn a platforms programming nuances as you need to use every trick in the book.

 

I used to have long converstaions with Ted about how the official indicators grouped stuff into nearby and furtherout areas. That was the one thing that he would not reveal saying it was proprietary . I believe that it was in fact because he did not know (the V1 indicators where developed by a third party....Cynthia someone or other if memory serves). So to cut a long story short I came up with my own algorithms to group geometry into near or far areas. Whilst not perfect I believe they are better than the official V1 versions. Sadly I don't have experience of the V2 indicators so can't comment there. I know Ted was impressed, he showed screens of my Neoticker indicators at the conference they did in err..... was it 1997...I cant remember exactly. This was to demonstrate what was possible at the leading edge.

 

Anyway whether any of that qualifies me as 'following drummond' I don't know. Don't assume that every one is restricted by the same constraints you put upon yourself, well when it comes to coding indicators at least.

Edited June 8, 2009 by BlowFish

[traderxman 10]

Blow...I lay at your feet with respect.

 

All due respect...drummond or P&L as he likes to call it...

 

Has its own faults with respect to the nearbys...

 

they are drwan by using the close of the last bar...

 

In other words for anyone else reading along here...the nearbys acan be drawn very differently because of a single tick difference.

 

Yes the originator will hand draw them by hand and disagree with software designed by Robin Mesch...she holds the rights to them.

 

Basing them solely on the 2 and 3 bar lines...many times changing hs mind indicating that the nearbys are also very subjective to draw.

 

Have all the software you mentioned and many years back got into programming also...NeoTicker etc etc

 

THe latest software finally adressed the TS software issues for multiple time frame usage for day trading...this is all based on the free work of Bamboo (i.e. ADE)

 

THe latest nearbys are called oncomings, again based on another algorithm as you called the last nearbys.

 

Lesson one clarifys the loss of the pldot...but using oncomings or subjective nearbys???

 

Hence the suggestion in the SFT's to use clear closes...its an interesting study of work...like your thots...no disrespect meant.

[BlowFish 10]

Thanks for reminding me who holds the rights to the original software. At the end of the day it is a remarkable body of work and its nice to see it discussed (though respect for the NDA makes full discourse tricky in the open). Of course in the early days it was all plotted by hand! Anyway I probably over reacted, not looking for adulation but simply establishing credentials (for what thats worth, on the interweb I guess it's wise to take everything with a pinch of salt).

 

As an aside have you thought about getting the V2 indicators? Whilst they certainly look comprehensive they seem a bit like overkill to me....unless you are pursuing back testing automation and all that malarkey.

[BlowFish 10]

Another thing I meant to mention and I found very useful is the idea of having extra envelopes. Its funny but it seems that this is something that occurs to people independantly when looking at Charlies work. I was surprised it was quite late in the day when he incorporated this idea. I think these can provide a very useful 'framework' to help organise the geometry. After all EB->Pldot and Pldot->ET are used for this.

[traderxman 10]

See pm...please re. new latest