The Waiting is the Hardest Part: The Big Saturday Interview with Dave Landry, author of the Layman’s Guide to Trading Stocks
Did you miss our Big Saturday Interview with swing trader, Dave Landry?
“The waiting is the hardest part, you know, Tom Petty had it right. Right now, it’s tough. Anybody can trade a nice solid trend. It’s the waiting it out and toughing it out that’s the hard part.”
Click here to access our latest Big Saturday Interview with swing trader Dave Landry as he talks about his new book, The Layman’s Guide to Trading Stocks: Debunking Wall Street Myths, Revealing Wall Street Truths and Everything You Need to Succeed in the Markets.
“I think we all have to go through this process … You just keep on adding indicator after indicator after indicator … Then you reach a point where you begin peeling them off and before you know it you’re left with a blank chart once again.”
“That’s where I am now. I will on occasion throw in a moving average, but that’s about it. Normally I just use a plain chart.”
You can get a copy of Dave’s book here. A comprehensive guide for new and veteran stock traders alike, The Layman’s Guide to Trading Stocks covers everything from debunking Wall Street myths about making money in the stock market, to designing and developing your own trading strategy. In our Big Saturday Interview conversation, Dave explains not only why he decided to write the book, but also the best way for traders to incorporate the many insights, tips and tactics in the book into their own approach to trading stocks.
“… I came to the realization that you can only predict the short term. You see people on TV talk about where the market is going to be a year from now. And there’s no way that they can say that with any degree of accuracy.”
“I equate it to the weather and making weather predictions. If it’s cloudy and thundering outside, I know there’s a pretty good chance that it is going to rain soon. But I don’t know if it is going to be raining this time next week or this time next year.”
“And in trading if you’ve got a nice longer-term trend and you get a short-term pullback-type of pattern and the market is due to snapback, you know there’s a pretty good chance that you can capture that short term move – but you don’t know where (the market) is going to go longer-term.”
Dave Landry is also the author of Swing Trading with Dave Landry. Sold out in both hardback and paperback, this classic swing trading text is available as a digital e-book at Dave’s website.
Markets can go up, markets can go down and markets can go sideways. If you are to be profitable, you need to buy at one point and obviously sell at one point higher. And if you just focus on the charts and the chart patterns, your life gets a lot easier doing that.
Now available as an audio file, you can listen to the entire 30-minute Big Saturday Interview with trader and author Dave Landry by clicking on the link below.
The Big Saturday Interview with Dave Landry, author of The Layman’s Guide to Trading Stocks
David Penn is Editor in Chief of TradingMarkets.com