Novice traders can "see" everything the trading pro sees, as they consider a given market and trading vehicle. The difference is that a successful and experienced trader knows how and when to enter -- and exit -- the trade.
Trading professional Dick Diamond learned which choices to make, first through "trial and error" then eventually by "trial and success." His
Market Mentor Trading Course steers his students around the costly errors he has made, and shows them the trading choices that have worked for him most of the time (no trader is always right).
Diamond has established trading principles over his four-decade trading career. Learn and follow his principles, and you'll take your first steps down the path to the right trading choices -- in up and down market trends.
The first step is to gain control of your emotions when trading. To do this is to develop a "quiet confidence," which allows you to effectively apply Diamond's trading principles. For example, you'll be better equipped to recognize high probability trades -- the trades which Diamond calls the 80/20 trades.
Most of Diamond's seminar aims to teach you how to spot and act on these high probability trades.
To spot 80/20 trade set-ups, you need to learn about technical indicators.
Have you heard of Walter Bressert's ProfitTrader (tm) for Metastock (tm)?
Diamond says ProfitTrader (tm) is an applied methodology (not a system) to buy bottoms, sell tops, and determine trend and trend reversals. He adds that it was originally developed by Walter for the futures market but the methodology can be applied to any market, any time frame, and is as timely and accurate in stocks as it is in futures.
The ProfitTrader (tm) Indicators are a unique group of oscillators and technical analysis tools that --
- Show trend direction
- Identify cycle tops and bottoms
- Generate Mechanical Buy/Sell trading signals at cycle tops and bottoms
- Forecast high-probability time periods for future tops and bottoms
While Dick Diamond's Market Mentor Trading Course is not Elliott Wave based, it does teach you how to use technical tools so you can execute 80/20 trades.