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Become A Better Trader
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Which Trader Are You?
Are You Searching?
If you're like me, you probably weren't exactly sure how to get started trading. It's tough. There's so much noise out there. And, like me, you found yourself spending a lot of time and your hard earned cash chasing empty promises. For me, my true enlightenment finally came when I realized that simple techniques could actually work in real markets.
Theodor Seuss Geisel, source: goodreads.com
"When you are in a slump, you're not in for much fun. Unslumping yourself is not easily done"
Have You Lost Your Way?
Even if you've been trading for a while, at some point, you'll hit some tough times. We all do. It's what happens during those tough times that define us. There are pitfalls that we can easily fall into to "get back" what the market "took" from us. This could be using excessive risk, trading in less-than-ideal conditions, attempting to use complex methods to outsmart the market, and a host of other bad behaviors. If we're not careful, we could easily spiral downward during these inevitable bad times.
"I fear not the man who has practiced 10,000 kicks once, but I fear the man who has practiced one kick 10,000 times."
Bruce Lee
Or, Do You Just Want To Become Better At What You Do?
Do you ever get aggravated when you miss a big winning trade that was on your radar? Does the Siren call of day trading draw you in when you know that you should just follow your longer-term plan? Do you occasionally abort your trading plan in an attempt to outsmart the market and then watch the market take off without you? Let's face it, in spite of what the get rich quick gurus spout, trading is often a constant struggle. None of us are immune. Therefore, we must constantly strive to get better at what we do to operate at peak performance. Structured lessons, getting your questions answered, one-on-one consulting, and interacting with other like-minded traders will help you to become a better trader.
Over the years, I've answered tens of thousands of emails from those who are struggling. In virtually all cases, their problems were solved by simply getting back to the basics. All that was needed to return to profitability was to exercise proper money management, trade only in trending markets, and following the trading plan vs. giving in to the inevitable psychological and physiological urges that come with bad times.
Can Anyone Become A Successful Trader?
YES!*
I believe with 100% conviction that anyone can learn to trade. There is one small caveat: *You have to want to be successful. You may be thinking, wait, doesn’t everyone want to be successful? I’m not so sure! The biggest problem that I see with many traders is that they abandon their plan in an attempt to outsmart the markets. They refuse to give up on pre-conceived notions and aren’t willing to ignore much of what is taught as “conventional wisdom.” They tend to interject logic into what the market should be doing vs. accepting what the market is doing. The good news is that these problems are easily fixed through understanding how markets really work and accepting what is.
Do You Have To Be Really Smart To Trade Successfully?
NO!
Highly intelligent people can often make for bad traders - This is because they fail to accept the fact that markets are often irrational and always emotional.
NOT Rocket Science
I once received an email from someone from a rocket scientist, literally. He said: “Rocket science is not rocket science. Trading is rocket science!” I explained to him that his difficulties stemmed from the fact that he was trying to interject logic and reasoning into the equation. These things might help to get a rocket off the ground but don’t always apply to trading.
It’s not just rocket scientists that struggle. The same often holds true for doctors, lawyers, automatic transmission mechanics, and any others who are highly skilled or educated. It’s not your fault. In fact, once we get deep into trading psychology, you'll discover that you may have had years and years of “bad training” for the markets. This can be easily undone. So, if you're smart, don't worry. You're not doomed! You’re just going to have to accept the fact that logic doesn’t often apply. Once you understand how markets actually work, then you just have to be willing to follow along.
Trading is far from easy, but it's not nearly as hard as many try to make it. The mechanics are actually quite simple. In fact, it never ceases to amaze me how the simplest of concepts can work quite well in real markets. This inspired me to trademark “Trading Simplified.”
"Take The Easy Route"
There are two ways to become a successful trader-an easy way and a hard way. The hard and very expensive way is to abandon the basics and try out numerous methodologies that seem to be “too good to be true.” And, then later find out that they truly are too good to be true. This journey can take years and provided that you don’t go broke or give up in frustration, you reach true enlightenment when you return back to the basics.
The journey of becoming a successful trader is often long and difficult, but it doesn't have to be.
My advice is simple - Take the easy route. Start with a simple methodology and stick with it until you become successful. Once you accomplish that, then, and only then, you can slowly add slightly more advanced strategies. Skipping the typical trader's journey will save you a lot of time and money. Never forget that if you're not successful with the basics, you won't be successful with more complex methods. You might want to write that down.
Some Hard Realities
You're Not Going To Get Rich Overnight
Good trends don't come along every day. It will take some time to catch good market trends. The good news is that if you learn how to recognize and get aboard them, you’ll be ready for when they do. You’ll limit your losses in less-than-ideal conditions and do extremely well in great conditions.
So You're Not Selling The Golden Goose?
If someone had a goose that laid golden eggs why would they sell it? Good question! If you're like me, you've probably ended up on a few marketing lists. And, like me, you probably get emails daily with inflated promises. Here are just two of my favorites:
“Make 10-million in 10 minutes a day.”
“Make 2-4% every day.”
Obviously, “make 10 million in 10 minutes a day" is complete and utter BS but, how about 2%-4% every day? Well, with simple compounding, a $10,000 account would be worth between 1.4 million and 181 million in less than one year. That’s returns in the 14,000% to 1,800,000% range. Again, these claims are slightly exaggerated-sarcasm implied. And, if they were true, why would you tell anyone?
THE Secret?
"There is something that everyone who succeeds in markets follows, knowingly or unknowingly." Michael Covel
"The ONLY way to make money on a trade is to capture a trend." Dave Landry
I'm going to let you in on a little secret that marketers don't want you to know. The secret to trading is that there is no secret. No one knows exactly what a market will do: not you, not me, and certainly not the guy who screams on TV. Knowing this is quite liberating! We can cut through the BS by understanding that the only way to make money in a market is to capture a trend. Period. This goes for any methodology. Once you accept this fact, then you can spend your time seeking out trends and then looking to get aboard them.
Unfortunately, there is a big dilemma when it comes to trading trends.....
The Trader's Dilemma
"You cannot predict trends, but you can follow them forever." Dave Landry
Predicting the markets is akin to predicting the weather. Only short-term forecasts are viable. If it's cloudy and thundering, there's a good chance that it will rain soon, but you don't know if it will be raining this time next week or next month.
Short-term trading has higher accuracy. And, the risks are generally lower. Unfortunately, gains are often limited. Big trends take time to develop. And, the really bad news is that something bad can still happen. Trading where the gains are limited and the losses are potentially unlimited is a recipe for disaster-with ANY methodology.
The real money is in longer-term trading. Unfortunately, so is the risk. The longer that you're in a market, the better the chances are that you will get soaked. We all read about these famous long-term traders, but a quick Google search shows that many of them subsequently blow up.
This creates a dilemma. Short-term trading has its problems as does longer-term trading. To be successful trading, you must control losses while still allowing for the potential for longer-term gains. So what's a trader to do? Both! It doesn't have to be a mutually exclusive decision. You truly can have your cake and eat it too by trading for both short-term AND longer-term gains. Through proper money and position management you can take short-term profits just in case the trend is a short one but stay with the remainder of the position should it turn into the mother-of-all trends.
I Have Some Good News But First,
The Bad News
"We have found the enemy, and he is us" Pogo
The bad news is that we’re simply not made to trade. This is on both a psychological and a physiological basis. The things that are keeping you alive and making you successful in your career are detrimental to your trading account. Once you accept these facts, you'll instantly be able to identify the bad-for-trading behaviors and take simple steps to correct them.
When, not if you find yourself struggling with your trading, it could have absolutely nothing to do with you. During these times you must identify anything in your life that has nothing whatsoever to do with trading that could be coming between you and your success. Correcting these things in your life will vastly improve your trading. TK
The good news is that once you embrace the fact that "we're not made to trade" you'll be on your way to success. There are very simple "hacks" that you can take to counteract these unavoidable human tendencies. For example, is the Siren call of micromanagement taking you out of great trades? Place a proper stop order and then go about your life. This simple step alone will help you to be "as close to the market as you need to be, but no closer."
Keep Setups Simple For Success
Here's an actual setup that turned into a big winning trade.
It never ceases to amaze me that virtually all of my best trades come from the simplest of setups. A stock will be in an obvious and persistent trend and then have a sharp move lower. Looking to enter after traders are "knocked out" can lead to explosive moves.
Why Trading Is Unfair
And What You Can Do About That
Money management isn't sexy, but you have to have it. All trades, even well-thought ones, eventually end badly.
Trading is unfair. You have to make back more than you lose. For instance, if you lose 10%, you'll have to make back 11.1% just to get back to breakeven. And, unfortunately, it grows geometrically from there. This is why systems that only make small gains eventually will fail. The good news is that through proper money management you can keep losses in check while still allowing for potentially unlimited gains.
You Must Approach Trading
Holistically
With These Three Things:
- 1. Methodology: You'll need a methodology that's conceptually correct. And, since the only way to profit from trading is to capture trends, that methodology should be trend following in nature. Further, since it is much harder to follow a more complex system, it must be simple and easy to follow.
- 2. Money Management: Since trading is unfair, you must limit losses while still allowing for unlimited gains-not just the opposite! You must be willing to get out when you're wrong but stay the course when you are right.
- 3. Mind: And last, but certainly not least is you. The best methodology in the world is useless if you don't have the proper mentality to follow it. You must accept the fact that you can't control the markets. You can only control yourself. By trading only when conditions are conducive, planning the trade and trading the plan you can overcome the battle that's from within.
In A Nutshell:
What You Need To Know To Trade Successfully
Trading is not easy, but it’s not nearly as difficult as many try to make it. Simple techniques can work quite well in real markets.
Since the only way to profit from a trade is to capture a trend, focus on identifying trends and then looking to get aboard them.
All trades, even good ones, eventually end badly. Further, trading is unfair because the percent to recovery from losses grows geometrically. Considering these two inescapable facts, you must have a solid money and position management plan in place that limits losses while still allowing for unlimited gains.
Beginners can skip the Holy Grail hunt by learning and sticking with the basics until they become successful. More seasoned traders who find themselves struggling must return to the basics until they regain their confidence.
The greatest methodology in the world is useless without the proper mindset to follow it.
So, How Do You Become A Better Trader?
SIMPLE: Become A Member Of DaveLandry.com
What Does The Member's Area Include?
Four Member's Trading Courses
Ready to start trading but are not sure where to start? Have you been trading for a while but have begun to lose your way? Or, are you ready to become a better trader?
The comprehensive member's courses start small and build...and build. Even if you've never traded before, it's all there from the ground up: Setups, Money & Position Management, and last but not least you: Trading Psychology.
1. Learn how markets actually work. Technical analysis has the word "technical" in it, but it doesn't have to be that technical. I'll show you fully disclosed simple patterns that use psychology to take advantage of the emotional nature of market participants.
2. Minimize losses and maximize gains. The only way to be successful longer-term in the markets is to keep losses in check while still allowing for potentially unlimited gains. I'll show you how to do just that through my hybrid approach to money & position management.
3. Handle your biggest enemy. Once you understand the mechanics, all that's left to do is to simply follow the plan. This can be difficult, but it doesn't have to be. I'll show you simple steps to train your brain to conquer the physiological and psychological pitfalls of trading. The only way to be successful longer-term in the markets is to keep losses in check while still allowing for potentially unlimited gains. I'll show you how to do just that through my hybrid approach to money & position management.
4. Learn how to think holistically. The three aspects of trading: mind, money management, and methodology do not exist in a vacuum. All three are intertwined. There's a psychology to following the setups. My hybrid approach to money management addresses both short-term and longer-term psychological needs and statistical needs. And, you must have the proper mindset to execute both the methodology and money management. I'll show you how to think holistically to while using all three aspects of trading.
You'll get full access to the above four courses. The courses are constantly being updated based on market conditions and my latest research. They are also designed around you! I've worked with thousands of individuals over the years, so I know what you need to know. However, if there's something you'd like to see, we'll add it. Much of the new content comes directly from your request from the bi-weekly Q&A. You'll also be able to track your progress through our learning management system. Start any course and any order and pick up where you left off.
Interact With Other REAL Traders
Have you explored social media stock groups only to discover there that are filled with "pump and dump" stock recommendations, spam, and BS get rich quick posts? Well, at Dave Landry's Trend Traders there's none of that and plenty of useful interaction. I personally moderate the group to make sure that we all stay on track, keeping the following goals in mind:
1. To find the best setups
2. To discuss trend following techniques
3. To discuss money & position management techniques
4. To discuss trading psychology based on the above
Above is just one of many posts discussing potential opportunities. Of course, I'm biased about my group, but I have personally profited from many of the stocks mentioned by my members.
LIVE Q&A Sessions
Have a trading question? ASK! Every other week I host a live Q&A session. This has become one of the most popular features of our member's area. Can't make the live session? No worries! All sessions are recorded. Recent discussions included position sizing, what you must think about before considering trading full time, trading opening gap reversals, using discretion to improve performance, plus much much more.
Loyalty Benefits
The longer that you remain a member of Dave Landry.com, the more benefits that you'll unlock. During your first month alone, you'll get electronic copies of all three of Dave Landry's books. After your second month, you'll receive access to Dave Landry's Trading Psychology Micro Course. In your third month, to ensure that you're on track, you'll receive a private 1/2 hour consultation with Dave Landry. Additional benefits include "911" calls for those "deer-in-the-headlight" moments where you might need a little help to follow your trading plan, access to Dave Landry's premium courses including Trading Full Circle and Trade Hot IPOs.
What People Are Saying About
Dave Landry's Approach
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“now up over 62%”
The second half of the trade is now up over 62%. I find this trade to be the poster child to the methodology and also a fantastic example of being patient till being proven right or wrong.
Chris Agresta-Trader
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“what you need to hear”
Dave is not going to tell you what you want to hear, he’s going to tell you what you need to hear. He explains the importance of money management and the need to eliminate losing trades. He teaches the discipline to wait for the proper time to enter a trade. He also teaches you when to accept a loss and move on to the next trade. He is both a successful trader and a remarkably talented instructor. Dave has the temperament, knowledge, and experience that is needed in this industry. He’s also a genuinely nice guy with a wild sense of humor.
David M. Taucher- Money Manager, CFP, AIF
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“knows his stuff”
Dave Landry is a real trader who knows his stuff. Too many in this business are fakes. Anyone who can teach others to trade must also trade. Dave's books and courses are valuable; I have no problem recommending them.
Greg Morris-Former Money Manager who oversaw over $6 billion in assets using technical analysis
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“is gold”
The psychology that you go through and the money management that you tie into it is gold, something I definitely think people aren’t spending much time taking to understand.
Bret Matsumoto-Trader
Ready To Get Started?
Ready to learn how to trade properly? Been trading for a while but have lost your way? Or, are you just looking to become a better trader? Join Dave Landry.com and become a better trader.
What Others Are Saying....
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“is gold”
First of all, I can't thank you enough for making so much sense about trading but even more importantly your ability to make the complex simple with humor AND patience. Those are truly gifts.
Jon Dearborn - Private Trader
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“..turned my whole trading world upside down and fixed it"
You turned my whole trading world upside down and fixed it.....You may use anything you want that I said. You could also add that I was using one plan then another then another then back to the first one. I wasn't always using stops and was placing them too tight. I just didn't have the cocktail napkin: stop, entry, move stop, target, take 1/2 and move stop up, in place....my money management was horrible, with no idea of risk factors. Thanks! You've made me a better trader. Also, thanks for the education section of your website.
Rick Plumbo - Private Trader
About the Author
Dave Landry has been actively trading the markets since the early 90s. In 1995 he founded Sentive Trading, LLC--a trading and consulting firm and in 1998 DaveLandry.com--trader's education. He has worked with several hedge funds and thousands of individual traders. He is author three best selling books on trading including The Layman’s Guide to Trading Stocks. His books have been translated into eight languages total. He has made several television appearances and has written articles for many magazines including Technical Analysis of Stocks & Commodities, Active Trader, Currency Trader, Traders Journal-Singapore, and TRADERS' (Italy, Germany, UK, Greece). His works have been referenced in many books on techncial trading including Technical Analysis: The Complete Resource For Financial Market Technicians. He has been publishing daily web based commentary on technical trading since 1997. He has spoken at numerous trading conferences both nationally and internationally-including Russia, Australia, Hong Kong, Germany, and Italy. He has a B.S. in Computer Science and an MBA. He was a registered Commodity Trading Advisor (CTA) from 1995 to 2009. He is a former board member of the American Association of Professional Technical Analysts and is currently a member in good standing.
Here's What You Get
- Four courses on trading which include market timing, trading IPOs, money management, trading psychology, and much more! We are constantly adding useful new content weekly.
- Membership Rewards: The longer you remain a member, the more membership rewards that you'll reap. nd reap rewards such as unlocking premium courses, private consulting, "911"calls, more.
- Live Q&A Sessions: Ask questions and get well-thought answers from Dave himself.
- We listen! Is there something that you'd like to see? We'll address it in the Q&A session and add it to the member's area.
- Trading psychology explained in a way that will help you to identify problems and more importantly, simple steps that you can take to remedy them
- Free access to any course upgrades and updates for life PLUS Unlimited lifetime support
100% Satisfaction Guarantee
Trading is not without risk but becoming a member of DaveLandry.com is 100% risk free. You have nothing to lose and everything to gain! I strongly believe that my common sense approach to markets, money management, and trading psychology is the best way to trade. Period. However, if for any reason you're not completely satisfied, I'll refund 100% of your purchase price within the first 30-days.
Ready To Get Started?
Ready to learn how to trade properly? Been trading for a while but have lost your way? Or, are you just looking to become a better trader? Join Dave Landry.com and become a better trader.
Frequently Asked Questions
What Makes Your Approach Different?
Will I Get Rich Quick?
Will The Techniques Work In Other Markets Like Forex and Bitcoin?
Will The Courses Help Me Plan My Trade And Trade My Plan?
Do You Use These Techniques In Your Own Trading?
How Do The Courses Work? What Should I Expect?
What Happens During A Bear Market?
If I Have Questions, Can I Ask Them?
There is a risk of loss in trading. See disclaimers at DaveLandry.com