Gary Williams Wall Street Basics

“Sometimes people don’t want to hear the truth because they don’t want their illusions destroyed.” Friedrich Nietzsche

I welcome the dissention. I actually am learning from this discussion. Let's keep it going.

I had something written but deleted it as I cannot be confident in my privacy with this site. Not that they have done anything and I don't want to imply that AT ALL - I just find it odd that there's nothing out there good or bad on the GW. I am a professional trader and have been for 38 years. I wrote this because two family members, their friends, and two cousins approached me. I wish I could say more.....

GWNO

Perhaps you could give us an overview of your strategies on trading and your track record as a professional trader. I run into professional traders from time to time and they all seem amazed I can get returns of 44% in a month (on a widows and orphans trade) like I did on a trade in February 2014. To be honest, they are typically astounded when I tell them I get 5% a month (60% a year) on a regular basis. When I was trading options, years 2006 to 2008, I would typically see 100 to 1000% or more gains on option trades in just days or weeks, both practice and real money. Also saw some big loses too, but I try to keep those to a minimum, and losing money is a great motivator to not keep losing it. Gary's strategies are aggressive, but he has built into the strategies a certain level of safety and risk mitigation if you follow the rules. Just saying.



Edited 1 time(s). Last edit at 04/09/2014 07:16AM by NC77.

NC77 - take that track record to Fidelity, the Princeton Endowment, or Barrons and you will be made a very very wealth man. They would all employ you for more money than you could ever make trading your own accounts.

GWNO

No, I don't want to work. I want to have choice and just trade once a month for the rest of my life. Note: I have been offered an opportunity to be a "money manager" by a worthless (in my eyes) insurance salesman trying to pose as a legitimate financial advisor. I went to one of his free dinners to listen to him push annuities. He also pushes an asset allocation "black box" investment program that seems somewhat bogus to me. He and the black box company clearly make their money from high fees. I don' want to be that kind of person. But thanks for the compliment.

Will you be sharing any of your professional trading experiences? You have seen a lot of markets if you have been trading since 1976.

trendtrader1 Wrote:
-------------------------------------------------------
> GWNO and NC77 - I appreciate the W&O discussion!
>
>
> I have been very picky with my W&O entries in the
> past, but have had a hard time finding a good W&O
> trade each month because of that.
>
> NC77 - for the MTW trade you describe, I would
> have passed since the daily chart is on the top
> bollinger band, which sometimes limits up-side
> potential. Your MTW trade is working so far...I
> will continue to follow it with great interest!



Edited 1 time(s). Last edit at 06/29/2015 09:28AM by Darcy2.

Darcy,

I think you've described how you do Printing Press in the past, but I would really appreciate if you would describe it again. The current market seems pretty risky for W/O.

Thanks.

Kars,



Edited 1 time(s). Last edit at 06/29/2015 09:28AM by Darcy2.

Thanks (as always) for the reply, Darcy.

WLT had quite a day today. So from what you said, if your stock seemed like it might be running to the upside, would you wait until it looked like it was was turning to STO the call options? If so, perhaps you would miss a week of selling every once in a while while the stock was either up or running down.

What are your thoughts? You mention that you wait until 2 1/2 days before expiration to sell, so there isn't as much risk of selling into a less desirable situation.

Finally, let's say WLT rises back to $13 or even higher. Why would you bother selling out, unless you lost confidence in the stock overall or it stopped moving on a weekly basis? Currently you are making around $400/week based on the numbers in the example. Add a zero to the end after some time of trading and one would have a lovely source of income. It would satisfy my goals for sure.

Finally, I just had a marginally winning W&O trade turn against me causing me to sell at a loss (I hadn't yet STO the options, do I didn't have to deal with that portion at least). While I was up, I waited a little too long to sell the options - I was looking at selling deep in the money to protect further on the downside, but the trade looked like it had a little more to go up before being ready to sell. Part of the reason I didn't sell is because the DITM options seemed cheaper than those just ITM. Maybe their volatility is less, so they aren't priced as high. Anyone have any thoughts on this - selling DITM options?

Lost of questions here - and not many answers provided by me. Well, thanks for the help already.

That said, I appreciate the discussion on the Printing Press since it seems more versatile than W&O since it can be done (I think) in more choppy and down markets - not just up markets. So this provides encouragement when I could otherwise be discouraged and disappointed.

-Kars

Yes..



Edited 1 time(s). Last edit at 06/29/2015 09:29AM by Darcy2.

Darcy,

If your goal is to do AAPL instead of WLT, you are probably there now, though I guess you want to sell your WLT near where your original cost basis is now. As you are likely aware, AAPL is one of a handful of stocks that does mini-options. So you only have to own multiple of 10 stocks to do W&O/Printing Press.

Why would you say that AAPL is so much easier? I would guess that it is so widely followed, highly liquid, and has constant movement. What are your reasons?

Thanks.

-Kars

Okay..



Edited 1 time(s). Last edit at 06/29/2015 09:29AM by Darcy2.

hello everybody, brand new on this forum. I am interested in the Gary Williams investment courses and i was wondering if any of you can give me an email contact to sign up for one of the next courses with Gary, thanks

This is the last info I saw posted on the board.

Quote
wsbfan
If you are interested in taking classes from Gary Williams, he has a new format. All you need to do is send an email to the following email and you will be notified of the new classes.

wsbrandic@gmail.com

Wall Street Basics
P.O.Box10
Sharpsburg, NC 27878

Howdy folks. Anyone a student of Gary's that can tell me if the success email list is still going? Also, now that splits seem to be out of vogue right now, what are folks doing W&O on these days?

I've been out of the loop for a long long time (basically starting over), and any help would be much appreciated.

Hi, I sent an email to the referenced email address but have yet to hear back. Are there any upcoming Stock Market Survival Weekend seminars upcoming?
Also is anyone selling the Wall Street Basic CDs that I have seen discussed?
Thx

Seeker,

The only thing I can suggest is to be patient. I know they were a bit slow to respond regarding a question I had about Class 3 in November. Given holidays are around the corner and family is their first priority it might take a bit longer. Generally they respond within 24 to 48 hours throughout the year. The email above is correct: wsbrandic@gmail.com. I do not have a schedule for next year but feel pretty sure there will be a Class 1 sometime Jan or Feb. Typically it has been in Feb but that could change. Personal recommendation is to shoot for Survivor Class 1 vs. trying to purchase the old CDs from a student. The old format worked well for some but the vast majority still walked away a bit confused as to what they needed to be doing. Old format was taught with a "Mr. Miyagi" thought process. Learn to do wax on and wax off and eventually over time you will be able to block a shot without thinking about it. There are retired and very successful students that will tell it worked for them. The purpose of the new format is to strip away some of the fluff and focus in on exactly what you should be doing step by step.

Summary: Class 1 focuses on mechanics for the ABC123 engineers (not being condescending as I fell into that group initially). Class 2 starts to layer in some art and expands on Class 1. Class 3 is where you really start to layer in more art and realize 2 + 2 does not always equal 4 in the stock market. If I were to put someone into the class I would suggest taking Class 1 and do exactly as instructed with respect to trade entry, exit, and homework. Work with that information for 3 to 6 months and then take Class 2. I would lean more toward 6 months before taking 2 as you have to have the mechanics down. Work with that information awhile and then take Class 3 (3 months between 2 and 3 should suffice but it never hurts to go longer). I believe GW personal recommendation is to take all of them as soon as you can to get the information as no one is promised tomorrow. Then only work with Class 1 information until you have it down and are comfortable. Next layer in your Class 2 notes and work with it until you are ready to move on to your Class 3 notes. Whatever works. Most people are not disciplined to take all classes and wait before trying to do it all and get discouraged. Class 1 by itself and doing the work exactly as instructed will put you light years ahead of listening to the CDs and trying to figure it out. Class 2 and 3 expand beyond the information taught on the CDs. That said the CDs, should someone offer to sell, are cheaper and touch on a few techniques that are no longer taught.

Hope that helps. I wish you all a very Merry Christmas and prosperous Happy New Year!

NCT

One final thought. If you all want to do is learn the basics then Survivor Class 1 should suffice. If you work with that information long enough, accept you do not know it all by simply taking Class 1, continue to study your charts and the relationship between timeframes, then eventually you will learn things that are taught in the other classes. The only reason to take the other classes is to shortcut the process. If you sit through all the classes and take good notes you will get close to 30 years of stock market knowledge. Unfortunately that knowledge does not replace experience. You then need to work with that knowledge to gain experience so that you can trust the knowledge. It takes time to learn when to apply certain pieces of knowledge and when to ignore. That is when the art kicks in (through experience).

NCT

In September 2014 I had received a schedule for 2015. I cannot confirm that these dates are still correct.

2015 Schedule

Survivor Class 1 January 16, 17, 18

(Dunn Center)

Survivor Class 2 February 27, 28, March 1

(Gateway Convention Center)

Survivor Class 3 March 27, 28, 29

(Gateway Convention Center)

Survivor Class 1 May 29, 30, 31

(Dunn Center)

Survivor Class 2 June 26, 27, 28

(Dunn Center)

Survivor Class 3 July 17, 18, 19

(Dunn Center)

Survivor Class 1 August 14, 15, 16

(Dunn Center)

Survivor Class 2 September 4, 5, 6

(Dunn Center)

Survivor Class 3 October 9, 10, 11

(Dunn Center)

Survivor Class 1 November 6, 7, 8

(Dunn Center)

Can anyone who has recently taken the class recommend a hotel that is near the Rocky Mount Dunn Center. I did a search on Trip Advisor and see listings that are in the $100 range. Since the class lasts for a few days I was hoping to see if anyone had figured out how to get a good deal for a hotel nearby.

Thank You NCTrader and sonicwave - very helpful, appreciate it!

Do you know if Gary Williams created this approach on his own or if it is a derivation of another approach (or approaches)?

Thx

Sonic,

The majority of the time I stayed at the Double Tree. Not exactly close as it is a few miles away but a straight shot to get there. Typical prices $80 - $110 depending on time of the year. Preferred the convenience of having a full restaurant on site. I typically used Priceline or Hotels.com (which ever one was offering a better donation to my favorite charity at the time through Goodshop). Some of the guys I met in RTP hawked Priceline and occasionally got some really good refundable deals. Why someone would pay to go and cancel at the last minute is beyond me. I believe if you work it and are diligent you might find something in the $60 -$70 range.

Seeker,

To the best of my knowledge this was created by GW. That said I can argue all day long that so and so was teaching "X" before GW. He will tell you that he has read every book out there about the market and technical analysis. Not sure if that is completely accurate but maybe close. His entire system comes from reading those books, making mistakes, and learning over the course of 30 years. I have read a lot of books as well and can see pieces of what he teaches here and there. The exact process he teaches I have only seen in his classes (the way he puts the pieces together). The way he use to describe it is that you could go read the books and over the course of time develop your own style and maybe be successful. His class was intended to help you gain laser like focus on what's important and works consistently. Nothing works 100% of the time. I will say this regarding uniqueness. He does provide nuggets of info here and there that can only come from experience.

NCTrader,
Thanks for the feedback and your time. Very much appreciated!!

NCTrader,

You were right on point with your summary. I am still reading books from the booklist. I see and pick up on so many processes that Gary uses. The huge point is, he found a way to package a program or concept by using a lot of that information, along with his personal experiences. If a person sticks with it, believes in it, and completely SUBMIT to his program, there is a very, very good chance that person will make money in the stock market. It is always good to simply reflect back on where we were before starting this program-opposed to where were are years later. Simply amazing!

All,

I have a question that I was wondering if someone could answer. GW mentions "the left side of the chart tells you what will happen on the right side of the chart". Does anyone look at what happened on the smaller charts to see what will occur on the bigger charts while still keeping the trend in effect? If so, how far back do you look? For example, I would look for something that happened a few weeks ago on the Daily chart to occur on the Weekly chart now. I would also look for something that happened on the 233 a few days/weeks ago to occur on the Daily now. Sorry if this is confusing anyone, it is just something I have recently seen and caught onto after. Thanks and any input back would be great!

CLT1987

I'l like to hear some feedback on this as well. GW made very similar comments in RTP concerning the weekly, daily and 233 charts. How you can use one to see the movie of another. It's something I've been working on, but still I'm not clearly seeing it. Maybe I just can't see the forest for the trees:-)

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?

Hello. I also would like to know where I can find the cd's everyone is talking about.