How does trading pro Dick Diamond pack his 45 years of trading experience into a 4-day trading course?
By including only the "real world" trading knowledge which he knows is the most rewarding. And what does he consider most rewarding in his trading career?
It's what he calls the "80/20 trade." Diamond tells students to take trades only when they have a 4 out of 5 chance of succeeding.
Diamond tells his class how to use special indicators to spot those 80/20 set-ups. He goes over trade examples. Then he shows students what he taught them by trading from his own account in a live market.
The 80/20 trade is based on indicators that create a specific trading set-up. A trader must act on this set-up immediately. You must wait, and then pounce like a cat when the opportunity presents itself. Then you set stops. In shorter time frames, like trading from a five minute chart, the 80/20 set up may come along a few times a day. If you're trading a longer time frame, like off of a 120 minute or 240 minute chart, the 80/20 will come along less frequently, but when it does, the opportunity will be bigger. The 80/20 trade can be especially rewarding for position traders. Sometimes the indicators reveal what I call 90/10 or even 95/5 trades.
Trading Professional Dick Diamond
Are students glad they attended the 4-day Market Mentor Trading Course and do they recommend it to others?
Overwhelmingly, they write "yes" on feedback forms. The remarks below are from attendees of Dick Diamond's November 2011 Chicago course:
- "Dick is very specific and direct in his approach. This is very good."
- "I was impressed with the depth of the market experience and the concern the teachers had for the students to be prepared to trade...If someone wants to trade, I believe this to be the real deal, no gimmicks, shortcuts, no high-risk encouragement."
- "Dick is a very sincere man and really wants to help..."
- "[Dick Diamond] lets his trader instincts shine through. He shows his approach in real time."
- "Totally impressed. For a 1st timer like me there is a lot of information to process."
It's true that the Market Mentor Trading Course is technically intensive. Yet students have full access to trading instructors Dick Diamond and Roberto Hernandez. Professional trader Hernandez shares the stage with Diamond, and shows how he uses the Elliott Wave Principle in his trading. (Hernandez was a struggling trader until he met and learned from Diamond.)