Dick Diamond has been making a living trading the markets for nearly 50 years (45 of which trading his personal account). His expertise is in trading OEX options, S&P/Nasdaq futures and Dow/Amex/Nasdaq equities.
Diamond holds an MBA from the University of Michigan with a Bachelor of Science degree in economics from The Wharton School of Business at the University of Pennsylvania. He was attracted to Wall Street because his father was a member of the New York Stock Exchange. After active duty in the Marine Corps, he worked as a floor broker on the American Stock Exchange (1960-1965). He left the floor in 1965 and has been trading his own account ever since.
In the 1960s, market conditions were similar to the 1990s mania. Dick says everything was going up in price. He used it to his advantage and "rode the wave," as he puts it, from 1965 to 1968. That year, 1968, he made $900,000.
But the next year the bull market ended. Dick lost 70% of his capital.
This would finish the career of most traders. Yet not so for Mr. Diamond, who vowed it would never happen again. It hasn't.
In fact, the experience taught him the most definitive lesson of his professional career. He realized that to trade for a living requires an equally disciplined approach to both the long and short sides of the market. After all, bear markets are not "bad." They're natural to market cycles. The plain fact is that markets go up and down. To succeed you must be ready and able to take the opportunities in both directions – and to defend yourself against the inevitable risks and pitfalls.
Put simply, Dick says the trick is not to be a cowboy trader who throws down risky bets for huge profits. Instead, it's to succeed consistently by learning to trade both sides of the trend while minimizing risk. Yes, this is easier said than done. That's why Dick's 45-year career is nothing short of legendary.
No matter how skilled a trader is, and regardless of his track record – to execute real-time trades before an audience is to risk falling flat on his face.
Yet Dick Diamond routinely does exactly this with his students. He doesn't just talk strategy and analysis. His real trades show you how he "practices what he preaches."
One of Dick's most popular lessons is his famous 80/20 trade set-up
– the only trade set-up he will take.
The 80/20 trade is a ratio – Diamond teaches students to shun trades that offer less than an 80% chance of success. This takes discipline, since marginally attractive trades come along more frequently than the high-confidence set-ups. A former Marine, Dick dedicates a large part of his course to teaching you the discipline you need to act on only the highest-probability opportunities.
Dick is all about "over-delivering." One of the most valuable tools you'll leave with is Dick Diamond's proprietary spreadsheet (recently upgraded and renamed the Market Mentor Edge tool), which dynamically computes and charts all of his key technical background indicators.
Dick designed the Market Mentor Edge tool to help traders assess the market before each trading day. It "does the math for you" – all you have to do is plug in 6 vital statistics to get a detailed preview of the upcoming trading session. With each new day's market data you'll see this invaluable spreadsheet come to life: dark green means a market is deeply oversold, bright red is deeply overbought.
The Market Mentor Edge tool is perhaps one of the biggest secrets to his success -- and so important to his course that he gives each attendee a free trial of the software after the live event.
As we noted above, Dick also uses a customized software platform developed by MetaStock, one of the leading providers of trading software in the industry. It's modified with his own charting templates and technical indicators like RSI, Fibonacci, Oscillators and Stochastics. (Though the software is an important part of his method, purchasing it is not a requirement of the course).
Students are strongly encouraged to bring a wireless-ready laptop to download this useful tool. Many attendees also choose to purchase the very same trading software Dick and Roberto rely on every day and have it professionally installed by MetaStock engineers onsite so you can take the custom settings and templates back home with you when you leave. (Learn more about Dick's trading tools and indicators under Bonus Features.)
To order by phone, call EWI Customer Service at 800-336-1618 (from within U.S.) or 770-536-0309 (from outside U.S.) and mention code: SCG2