Gary Williams Wall Street Basics

Good stuff there, NCTrader... been reading through various GW threads and it sounds like a lot of people are trading as instructed - refreshing to see someone on here who is! To the naysayers, we wish you best of luck in whatever trading/investing discipline you choose that works best for you.

For those still on the fence, all I can say is that it works if you work it and do exactly as instructed. I haven't achieved choice, yet, but am getting fairly close... all by following the rules, the instructions, the daily disciplines, and tuning out the news and the negativity. I will post my most recent W&O trade once I am completely done. Not sure who's had issues finding stock splits for W&O in 2014 like I've read on this thread previously; personally, I found plenty of W&O last year via stock splits.


To quote Gary:
"Prepare for the worst, expect the best, work your butt off, and trust in God’s guidance!

Trade Well! Practice More! Invest Well! Achieve Choice!"




NCTrader Wrote:
-------------------------------------------------------
> Sorry guys I can't help you there. My take on the
> movie is to simply understand how the charts move
> together and how that flow will continue beyond
> the hard right edge. I may use smaller charts
> (144 - 89) to gain a clearer picture of what's
> happening on the bigger charts but do not look for
> them to tell me what is going to happen on the
> larger charts. Several books out there even
> suggest using the smaller charts as a magnifying
> glass into the larger charts. I do consider chart
> patterns seen on smaller charts in context of what
> I am doing on larger charts but that is about it.
> Example: I have a supported trade to the upside
> using Daily/233 and see reverse h/s or double
> bottom on an 89 or 144 then it gives me more
> confidence. For my style of trading the larger
> charts rule. My goal is to trade the 233 & 144 in
> context of the Weekly and Daily trend. I know we
> do not use the term "trend chart" any longer but
> that's the best way I can describe it in a forum.
>
>
> I was also happy to see in one of the classes
> where he provided 3 or 4 very clear and obvious
> supported trades to the upside. Everything taught
> in Survivor series. The trades were jumping off
> the charts. Textbook examples using Daily, 233,
> and 144. No way you would miss these call trades.
> He then showed you the Monthly, Weekly, and what
> happened on over the next few weeks. You would
> have been burned within a candle or two of the
> entry off the 233 as the weekly and monthly were
> turning over down.
>
> I may be misinterpreting the question but I always
> start on the Weekly and look down - not up. The
> Weekly and Daily tell me where it's going and the
> 233 down to 55 tell me how it's going to get
> there. Again, still learning and growing but
> that's my mental framework. My first question
> after identifying a potential set up on
> Daily/233/144 is whether or not the Weekly has any
> room left to move (gas left in the tank). Does
> the Daily agree? Have these big charts reached
> strong resistance or support that could stop my
> trade?

As promised - I wanted to post my most recent WO trade:

12/18 bought VIPS stock @ 20.25
12/23 STO Jan 15 $18 Calls @ 2.25
12/31 BTC Jan 15 $18 Calls @ 2.10
on 1/10 I could have sold the stock around $22.50-$22.70 but decided to go old school 1-5 and do Printing Press... Gary doesn't teach this anymore, but felt like VIPS had still higher to go in January, so instead...
1/10 STO Feb 15 $20 Calls @ 3.20
1/16 BTC Feb 15 $20 Calls @ 2.50 -- total cost basis for my stock purchase now at $19.40
1/21 sold VIPS stock @ 22.70

profit of $3.30 before commissions - more than 15% return in just over one month.
GW's system works time and time again...




awesomeness Wrote:
-------------------------------------------------------
> Good stuff there, NCTrader... been reading through
> various GW threads and it sounds like a lot of
> people are trading as instructed - refreshing to
> see someone on here who is! To the naysayers, we
> wish you best of luck in whatever
> trading/investing discipline you choose that works
> best for you.
>
> For those still on the fence, all I can say is
> that it works if you work it and do exactly as
> instructed. I haven't achieved choice, yet, but am
> getting fairly close... all by following the
> rules, the instructions, the daily disciplines,
> and tuning out the news and the negativity. I
> will post my most recent W&O trade once I am
> completely done. Not sure who's had issues
> finding stock splits for W&O in 2014 like I've
> read on this thread previously; personally, I
> found plenty of W&O last year via stock splits.
>
>
> To quote Gary:
> "Prepare for the worst, expect the best, work your
> butt off, and trust in God’s guidance!
>
> Trade Well! Practice More! Invest Well! Achieve
> Choice!"

awesomeness,

I was surprised to hear that Gary doesn't teach the Printing Press anymore. I thought it was one of his best techniques. I never found it described anywhere else and I looked a lot to find if someone else was also using it. There are some tax issues with it, but since it's a relatively short term technique I never found this to be an important reason not to use it.

Has Gary replaced it with something else, or has he just dropped it? I remember that his example sheet from Widows and Orphans tradeshe handed out in 1-5 classes was actually closer to Printing Press than strict Widows and Orphans, although I took 1-5 during the Transitional zone, so that may also have affected the strike prices he chose.

Dan Wrote:
-------------------------------------------------------
> awesomeness,
>
> I was surprised to hear that Gary doesn't teach
> the Printing Press anymore. I thought it was one
> of his best techniques. I never found it
> described anywhere else and I looked a lot to find
> if someone else was also using it. There are some
> tax issues with it, but since it's a relatively
> short term technique I never found this to be an
> important reason not to use it.
>
> Has Gary replaced it with something else, or has
> he just dropped it? I remember that his example
> sheet from Widows and Orphans tradeshe handed out
> in 1-5 classes was actually closer to Printing
> Press than strict Widows and Orphans, although I
> took 1-5 during the Transitional zone, so that may
> also have affected the strike prices he chose.



Dan --

I could theorize why, but Gary (to my knowledge and experience in the classes I've attended) has not mentioned precisely why so as to not muddy the waters to those who have never taken one of his classes.

My guess is that he focuses more on the "chunky money"/"big charts" thought process/side of trading. No more babysitting trades -- which Printing Press can end up like a "j.o.b." There's so many stocks out there to trade, why fall in love with just one? Again, this is just my theory....

Makes sense. In that case I guess he also no longer goes over the 5 minute or slingshot plays

I would agree with Awesomeness about the theory of why printing press is no longer taught. It can definitely be a j.o.b. Almost all focus is on locating quality big chart trades and learning to manage them well. All short chart techniques used on short charts have been removed. That said he will mention sling shot from time to time for old school 1-5 students. He no longer teaches but if he sees a good sling shot when going over a trade example he will mention. Keep in mind that he only considers sling shots on big charts. The concept of using small charts at a volatile open are not considered. Those trades could be right smack in the middle of a big chart with heavy resistance just above your call trade or below your put trade. In other words there is no real room to move. It all goes back to using big charts.

I am a 1-5 student, and never studied or had access to any of the other teaching techniques that might be taught in the Survivor Classes. I have traded off small charts for a few years, and I have made a lot of money. I typically did not look at any chart larger than a 55. I learned how to "Pop" quick trades for 10-20% gains. Well, if you have a full time job that requires you to work from 9-5, small chart trading can mess with your mind. I have entered trades at 9:51, and shortly after, my phone buzzes. I am thinking "What, WhAt, WHAT!" My secretary says, "You have Ms. Jones who needs to talk with you for a few minutes". I tell her to have her come in. The entire time I am listening to her, but I am also watching my position. If my position starts to turn against me and signals a trade, I have stated before, "Excuse me for just a minute. I am having some weird things happen to my laptop. This might take a couple of minutes". I exited the position with a profit, take a sigh of relief, close down the computer, and give Ms. Jones my undivided attention. A long story short, it is really, really, really hard to keep it all together if you have a 9-5 and a family with active children.

I can recall my mentor telling me that he spends less than one hour a day on any aspect of trading or watching the market. My mentor and I have recently rekindled our friendship, since I am now trading off big charts. He is an old man who will not listen or entertain anything outside of what he knows and have learned. In the past, he asked me often, "Why in the hell would I want to mess around with money that might buy me a bag of popcorn, when I am making money to buy the whole damn theatre". Sorry about the language!

I am learning that BC trades allow an investor time to meet expectations of a 9-5 and be there for the family. Again, SCT trades MADE ME! I just do not want to continue sacrificing so much to make 10-20%. BC trades are pretty cut and dried. It is either a trade or it is not. If you miss the trade, it is nearly a 100% chance that you have violated one of the rules. BCT take much more patience and discipline. Sometimes I might not find a trade during one week. The next week, I might find two trades. BTW- I trade 3 stocks. That is it. If I do not see a trade in one of those 3, I do not trade. The gains received from one BCT far out weigh the gains received from 3 or 4 SCTs.

I have lost a lot of that cockiness. Losing 10% of your basket in one trade will make you humble down and understand that I am not in charge. I am just any other trader, trying to snipe me a little money for me and my family. Last thing, it seems like every time I get over confident or boast a bit about my profits in a trade, God pops me across my bald head, and says, "Ok, you are still not meeting the goals and dreams that are out there for you. Now I give, give, give. I have found that the more I cheerfully give, the more I receive and the more things become clear. I have had some really good trades over the past couple of months. I am going to leave it at that-based on fear of gloating a bit. Ok God, I was not gloating or bragging. I was just stating that based on cheerful giving, you have rewarded me with more than money can buy. You have given me the ability to teach others how the circle of life through finances, determination, and perseverance really work. Honestly, I really want to say, "Amen".

Pardon the redundant post - started a new thread by mistake instead of replying to this one.....

OK you naysayers, you want a WSBS Trading Strategy to confirm if it works or not? Here is one that I am getting ready to go into, incorporating a summary of Gary's thought processes, but there's so much more than this! His classes are worth their weight in gold, but you have to dredge to learn and master the nuggets.

Saturday, April 4th, 2015: FB is in my scope, Getting ready to trade long

Reason for trade (event) - Earnings coming up late April (around 23rd)

I am in the Transitional Zone, moving from weekly/daily/21 to daily/55/8 thought process

FB broke out of relatively long term resistance, knocked it three times before breaking out, now sitting on top of resistance level (changed polarity from negative/resistance, to possibly positive/underlying support). Just look at weekly and daily and you'll see the resistance area.

Weekly - I always look at weekly to see if up or down, etc. It appears to be turning over but Red is still OVER Green. Trend on the Weekly is still UP

Daily - had crossed going down and is now sitting on middle bollinger band, and all indicators are moving lower, but not all the way down yet. Where are my MACD lines (red and green)? They are above the zero line, which means this stock is still trending UP. Just blowing off a little steam. It is spending more time above the zero line. Daily tells me FB moved up, now slightly lower, and this is early in the trade process, getting ready to give birth, but not born yet.

233 - bouncing off the 50 MA, all indicators low, MACD Histogram inching closer together (combs), StochRSI low, ADX trying to cross up. Trendline drawn across the tops of the red candles (draw only when indicators are low). Has not crossed but labor pains are becoming more pronounced.

144 - almost same as 233. I like to see the MACD Lines (red and green) getting close to piercing the zero line from below BEFORE the trade is likely to really explode.

89 - clearly resting on top of the larger chart resistance area, now support. You can see the price has been tyring to go lower (bears trying to sell short, maybe to move back under the old resistance area where they made good money several times before) but the bulls are making it difficult to profit from short trades. Bullish divergence in MACD combs (lower short-term low in price but higher low in MACD-H combs, shallower depth). StochRSI already a little high, and I want this to go back down a little. MACD-H lines are below the zero line.
Note: I am paying more attention to 55 minute chart (89, too) for the decision, relative to the time zone I am in (Transitional, where you move away from longer charts to short charts where you will remain thorughout the summer months).

55 - my favorite chart for entries, is kicking up and off the 200 MA. Trendline drawn across the tops. StochRSI is high and needs to go lower. I am not buying when StochRSI is overbought on 55. I want it to be closer to the oversold area. Just not going to do it right now. Nice little gap up from yesterday. Closed the gap though, and that is OK, because stocks hate a vacuum and tries to close all gaps (unless breakaway). MACD lines (red and green) are below zero line and I really want to see a price trendline break AND these two lines pierce the zero line from below, with a nice bullish candle.

21 - Here we are seeing the beginning of the birth of this trade. Why? StochRSI low, ready to turn up, price a higher short term low, confirmed with MACD combs more shallow than last low area, and ADX ready to cross going up. MACD lines (red and green) are still below the zero line and I will like this more when they pierce up and through the zero line, signalling a change in short term trend from lower to higher. That crossover is key, not only on MACD lines crossing, but the lines going up and positioned through the zero line from below, signaling a change in trend.

No need to go to any lower charts for I see all I need to see: This is the beginning of the birth of a trade. Stock has a reason to trade (earnings), had broken through prior resistance and is resting on top, is oversold on smaller charts, bubbling up, and resting on support on larger charts. I really want to see those shorter charts break trendlines, and have those MACD lines (red and green) pierce up through the zero line from below and I will then see that FB has more of a conviction that at least for several hours that this stock will move. The charts will tell me if hours is all this trade will give me.

Looking at all the charts, all the time, being Happy in Seattle or when the charts tell me to leave.

One of the most important lessons from Gary Williams? Even the best setups for a trade can fail, and you have to limit your losses. Do not be afraid of being wrong. Follow the rules and even a loss is OK because you followed the rules.

Be WIDE EYED OPEN to a change in the market (overall, FB, etc.), and just get out of this employee fails to work for me, but give him a little room to work.

Gary Williams never promised everyone stock market success. He only shares his trading system that works for him, and he shows you how, why, and emphasizes that 80% of trading (maybe 90%) is between the ears, the rest is following the rules.

I'll try to remember (new subscriber) to update this trade, success or failure, but you have a good idea of at least what I
learned from Gary's classes, but most of what I learned is from my hard work and dedication to apply the set of rules.

Wish me luck as I wish you all nothing but the best, and happy trading!

EDIT 4/6/15 ~1:00 PM: A little earlier the 55 minute chart broke trend line higher, a little concerned that 55 StochRSI is high, and ADX flopped over (like to see StochRSI lower and the gap on ADX signal lines). Still keeping my eye on entering, now watching 5- and 8-minute charts for a pullback, with one eye on the futures and overall market. Prefer the 8 minute chart over 5 minute, and MACD must cross going up.

1:45 - 2:00 pm - Getting close to the 2 PM Express when NY and Chicago are both back from lunch. Might start to see a move. Checking all charts (all charts, all the time) I see that the 8 minute indicators are low, which tells me it's time to see if I can add a trendline along the tops of the pullback. A quality one cannot be drawn. 5 min chart looked like it was bubbling up but reverted back to middle BB and no cross on MACD. All indicators on 5 minute starting to look weaker. Futures appear to be softening a bit after a strong run since this morning. This is the time of day where things can start to move (post lunch).

Not really liking my 8 minute pullback (nothing's perfect, but I do like to see deeper and better trend lines), and BB bands are pinching, but FB is moving. Price on 8 min now outside the upper BB but not coming back in.

~2:15 PM One last check of all charts, Big Picture to Little Picture.... Entered BTO June 80 Calls.

Now I will monitor this trade, keeping most of my vision on the 233 chart with a mental exit right around stock price of $86 (prior intermediate high) or when charts tell me to exit. If falls apart then I will exit with as small a loss as possible, and ANYTHING is possible All Of The Time.



Edited 1 time(s). Last edit at 04/06/2015 01:42PM by andyclev.

andyclev, thanks for posting your trade and how you came to the decision of making this trade. I always enjoy learning from what others are doing and will be following this to the completion.

andyclev,
You remind me so much of myself when I first completed the class. The only difference is, you are much sharper and catch onto concepts much faster than I did. Your process sounds excellent, and just remember, this is a marathon and not a sprint. Keep posting because your process is consistent with the new stuff Gary is teaching his students. I thought for a long time that a loss was a really, really bad thing. After trading for a few years now, I have learned to accept a few loses. It is inevitable. I just make sure my losses are small. You will be pleased where trading will take you financially. You will learn so much about yourself during this whole process. Thanks for taking the time to help those who need a little guidance and clarification. Good luck to you!
Rookie30

EDIT 4/14/15:

I apologize for the delayed update! I forgot I started this trade discussion.

FB entry turned out to not be ideal, but that large white candle spoke to me and said the bears were no longer in charge. I stayed in the trade, allowing it to work, even as it drifted away slightly, watching to see if price action kept above 50% of that nice candle. It did.

Price tried to break south but was always met with buyers, and if I was a bear (short) I would not like the action, which is the only reason I stayed in the trade.

Being long I was getting a little unsettling to me but the big charts were still saying it's going to turn. Daily and 233 charts, MACD-H kept inching closer to the zero line, which means the trade still had odds of going up.

Shorter chart's MACD lines were hugging the zero line, if not popping over, which maintains the uptrend direction. Being very careful for the wish to not father the thought! Remain open minded, and know that anything can happen, and it's OK to get out with a small loss.

Yesterday the Daily MACD-H crossed, albeit slower than I would have liked, and price action continues to improve in my direction.

Earnings are coming up (purpose of the trade, a known event) and we'll see where this goes.

Always OK to get out when happy with profits, but I get out "when the charts tell me to leave", eyeing the bigger charts (Daily and 233) to tell me when that time comes.

Daily 200 MA, 50 MA, and Middle BB all up.

So far so OK, staying in the trade, with the upper BB and recent high price ($86.07) the next target.

End of update.

EDIT 4/17: Liquidated this trade. My employee was not working and I fired him. Due to less than stellar entry indicators I kept my opening position very small, leading to a modest loss, but a loss nonetheless.

FB still on my radar and I will jump back in if it looks right. Not looking like a short trade at the moment, just an exit to the sidelines.

End of trade and end of edit.



Edited 1 time(s). Last edit at 04/17/2015 11:21AM by andyclev.

You are welcome PastorP!

I may not trade like everyone else, and not even the exact same as other WSBS students, but it's how he did teach the basic classes 1 through 5, big picture to little picture thought process.

Happy to share what I am doing and hope it helps.

Hello Rookie30 and thanks for your reply. I had a tendancy to overthink things, not an engineer but very close to one (dad was an electrical engineer, so it's in my genes!).

Not to be self-deprecating, but I was overwhelmed by the data that came at me when looking at price, price action, BBands, moving averages, StochRSI, MACD-H, ADX, mesmerized as it danced, and hadn't a clue what to do with it all.

I understand that later classes de-emphasize the smaller charts, emphasize the bigger ones, but I still like the printing press, slams, and peaks, which are all 5 minute charts!

I can only say this - Gary Williams knows what he is talking about, shared his trading strategy and thought process with many, and always said that only 5-10% of his students will end up being successful with it.

It is a journey and you nailed it - you find out more about yourself than you may want to know!

Thanks again and I will talk to you soon.

Novice here. just starting. Can someone please assist me in how to set up the GW indicators. His page in the manual is a confusing and he gave little explanation. thanks

Novice here. Can someone pls assist me in setting up GW s indicators? His one page explanation not great. Thanks

waverider Wrote:
-------------------------------------------------------
> Novice here. just starting. Can someone please
> assist me in how to set up the GW indicators. His
> page in the manual is a confusing and he gave
> little explanation. thanks

If you are using Think of Swim, you can find help here: [rrpayne.blogspot.com] under "Making the transition from Q Charts to Think or Swim.

Hi guys,

I have a friend that wants to take the Survivor series. What is the class length now-a-days? If I'm reading the latest post concerning the dates, it looks like the Aug 14-16 is the next Survivor I class. He was asking me how long the classes run so he can setup child care. I didn't want to give an exact number without checking first so I figured I'd ask the see if it's changed any.

Hi,

I am new this forum and never heard about GW . I impressed other people feedback about GW and want to start from scratch. Is anyone can help me what are the steps I need to follow to get into GW Courses?

Thanks
VJ



Edited 1 time(s). Last edit at 07/17/2015 09:49AM by stockdunia.

I'd like to hear something about this as well.

I have a friend that has inquired about attending Gary's Survival classes, and since I haven't been to any GW classes in a long time, I'd like to be able to tell him what to expect. Also what is the current prices for his class list these days. It's changed a bit since I was last in class.

Just email Brandi at: wsbrandic@gmail.com.
She should get you accurately up to date with the cost and schedule of classes.

i ve been using alchemcharts it uses a setup by GW....[www.alchemcharts.com]