Charles Drummond – How to Make Money in the Futures Market… And Lots of It!
Drummond’s first book was created over the course of a summer when he needed to find something to do in order to stay out of the market and let a silver trade grind upwards without messing with it. Although some of the contents are dated, as the markets have evolved over the past 20 years, much of what he wrote that summer remains relevant and valuable for today’s trader.
The Introduction
Anyone can make millions of dollars in the futures market, if they know the rules of the game, the game itself that is being played, and why the rules of the game are as they are. The rules of the game are simplistic and factual, and it is up to the reader to learn the rules of the game and to play by those rules.
The futures business is one of the toughest in the world, both for the trader and his broker, as well as the people that handle all the machinations of an executed contract order. Be that as it may, if we are serious about the matter, the concept of futures trading can be one of the most stimulating of all experiences, and to some, more so than sex. The fact of the matter is, is that it is as it is and that accordingly U must ask U’reself some questions and determine if it is all worthwhile. Do U enjoy success, and money. And, can U handle it. Do U want to make millions of dollars, maybe twelve million in eight years, or achieve my goal of IOO. The opportunity is there, and nothing will stop the trader from achieving that goal, except his or her capability in appreciating the facts of life as they relate to the market place, and being aware of these capabilities, why they are as they are, and what to do about them, and then what shud be done in relation to executing a market decision, with which this book will be of some assistance.
Take some time, maybe one year, if U are not that much of a seasoned trader, to becum a student and a pro of what we call the ‘basics’ of commodity trading. ( Maybe U will becum a seasoned trader in that period, as opposed to our other fellow, the ‘blown out of the box’ trader who will most likely read a few pages and quickly go to the market, excited with his new found wisdom,- the flippant pro that he is. ) The, U can also, and add it to the above, possibly becum a student and a pro of P&L (Point and Line) Charting, of which this writer is the author. U cannot becum a pro of P&L unless U have passed the ‘basics’ course. Why ? Because I said so. ( The book will explain. ) ( Something about forests and trees. ) U cannot be a pro in P&L trading without qualifying as a knowledgeable graduate in acceptable basic training. So there.
With this in mind, we have geared our approach to the ‘just after beginner’ trader, who maybe has been bombed out of the market with a few dozen trades and wants something to grapple the problem with. Also, it’s for the trader who has a little stature with experience, yet who needs rounding out. But, please note that this author does not wish to mess around with the mind of someone who has a winning technique, but only to instruct him/her to stick with it, maybe with some practical guidance from this book and to broaden his/her knowledge base, all to support that winning technique. As for the real pro, might I say, have a good laugh with this book. Who needs it. Right ? Right. U’ve already achieved ‘consistent winner’ status, altho’ U’re probably curious about anything to do with commodities.
There is nothing in this book to explain what a futures contract is, or what a ‘fill’ is and so forth. The beginning trader can obtain that information from any large brokerage firm or any commodity exchange, and after doing so, he or she mite study a book like this, maybe for a few months, – I suggest six months to a year, – before trading; all to the avail of encouraging U to the principles which, someday, maybe in eight years, wud entitle U, if I may be so provocative, to have that twelve million. I have tried not to be academic with writing style. Who needs it? The only thing we wish to be academic about is knowledge and ability. The prose is informal and friendly, perhaps too friendly and uses the modern dictum, when opportune, – such as ‘U’ for ‘you’, ‘shud’ for ‘should’, ‘becum’ for ‘become’ and so forth. And why not ! It makes for more stimulative reading. Also, we tend to repeat certain sentences, phrases and ideas, so that the trader mite unconsciously becum aware of their input, and since I place certain relevance on them, the reader will, consequently, incorporate them automatically into their thinking processes when he/she evolves and employs a trading plan. Some sections will be too ponderous, (like this introduction) some too flippant, -maybe haranguing, maybe too presumptive, possibly parading propinquity, but at all times prodding, and for a purpose. ( Sorry to be so eloquent. ) The sections on philosophy, technical analysis, and psychology all are woven one to the other, because U cannot have one without the other, if U are to respect this book. I am serious about that. ( I want U to have that I2 million. ) Accordingly, the section on philosophy is meant to be instructive and didactic; psychology throngs into the pedantic and the areas of basic technical format, including P&L Charting involve actuality, and are meant to be realistic.
If the reader wishes to becum an involved student of P&L, I have provided plenty of material and comments in the section on P&L (Point and Line) Charting. Hopefully, he/she will experiment and delve deeper into its concepts. For U cheaters out there who do not wish to put in the effort, I’m sure U’re target of interest will be in chapter I3, where we parlay an investment of $3,400 into $220,050 in fifteen weeks. For the serious student, however, the rewards will be an awareness that P&L can be phenomenal in its application to market analysis, and accordingly its concomitant financial success, and also that it is not applicable when not tied into the ‘basics’ of technical and fundamental analysis, which will be presented in this book. P&L can be an earthquake of an experience. It can change U’re life, possibly much too fast, since U may have an over-assumption of U’re ability to master the project. It’s a big world out there, and it’s the nature of the market to reward U’re sudden success with the opposing debilitation of unexpected, adverse, returning of monies to the market place. Be careful of assuming that U are a pro of P&L Charting, especially after a succession of positive market applications.
If U sit and take it easy and quietly trade with a plan at hand, – a well formulated plan, explained in this book, the trader will find that there’s no end to the enjoyment of what success in the futures market has to offer, and what it can do for the trader and his circle of influence. U are going to get U’re money’s worth out of this book.
So, don’t be in such a hurry that U blow U’reself out of the box. One more thing. P&L cannot be computerized. So U are at the distinct advantage of not being succumbed by the computer markets that exist to-day. U will be acting long before they do. It’s rather a smug feeling to have nothing but the parameters of your brain with which to operate. Man will survive !
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