Hey guys can i just get a show of hands for whether Larry Williams is for real or whether he is a fake. I can't figure it out. I've read alot of stuff that makes great sense but at the same time his systems produce about 5 trades in 10 years with a win loss ratio of about 90%. Backtested to dead?
FetteredChinos
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yup.. the ultimate curve fit.. only taking longs on mondays etc..
if you actually code up any of his suggested systems and look at the equity curve, they are untradeable.
having said that, in "long term secrets to short term trading" he does cover some decent subjects, namely:-
Seasonal Patterns,
Money Management
Volatility Breakout
Oops Patterns
Smash Day Breakouts
his First Profitable opening is what generates the profits, and applied to a random entry actually has a profitabl expectancy, however as i said, the equity is untradeable.
it is a good read though, but you just have to cut through the bullsh1t
FC
if you actually code up any of his suggested systems and look at the equity curve, they are untradeable.
having said that, in "long term secrets to short term trading" he does cover some decent subjects, namely:-
Seasonal Patterns,
Money Management
Volatility Breakout
Oops Patterns
Smash Day Breakouts
his First Profitable opening is what generates the profits, and applied to a random entry actually has a profitabl expectancy, however as i said, the equity is untradeable.
it is a good read though, but you just have to cut through the bullsh1t
FC
well he sent me a seminar invite for $1490 the other day - a video seminar i think.
Hey Fettered - you are the legend of systems in my opinion - do you actually use any of his ideas then. I always liked the though of seasonality but theres just now feedback for such a system.
Hey Fettered - you are the legend of systems in my opinion - do you actually use any of his ideas then. I always liked the though of seasonality but theres just now feedback for such a system.
barrytaylor
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Another vote for "Larry Williams is the real deal."
Agree with FC - heavily curve fit, small sample sizes and high profitability because of Bail Out exit rule.
Would add Commitment of Traders and Bonds vs S&P relationship to the list of good things.
Have attended his MDC - took away 1 important concept :
When trading a highly volatile data stream like the S&P it's sometimes useful to reverse the "normal" rules of 1:2 or 1:3 risk: return (ie. profit target 2-3 times your stop). Having larger stops and taking what profit is on offer (ie. Bail Out exit) can work.
BT
Agree with FC - heavily curve fit, small sample sizes and high profitability because of Bail Out exit rule.
Would add Commitment of Traders and Bonds vs S&P relationship to the list of good things.
Have attended his MDC - took away 1 important concept :
When trading a highly volatile data stream like the S&P it's sometimes useful to reverse the "normal" rules of 1:2 or 1:3 risk: return (ie. profit target 2-3 times your stop). Having larger stops and taking what profit is on offer (ie. Bail Out exit) can work.
BT
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Regulator2005
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I have read some of Larrys work and use alot of his gear. I personally think he is the top Dog. His books and thoughts on the markets have allowed me to develop a good track record. However, I find reading other books should also be continued. Get your own thoughts on things.
I would vote for him as using his teaching has worked very well for me.
However, I agree he is big into the marketing, but I also think he is one of a few to prove it and for me to have found the same success with his work and mostly as a result of his work I say “He’s good!”
Reg
I would vote for him as using his teaching has worked very well for me.
However, I agree he is big into the marketing, but I also think he is one of a few to prove it and for me to have found the same success with his work and mostly as a result of his work I say “He’s good!”
Reg
interesting points chaps - i must admit to liking the guy- I also think his COT stuff is quite impressive. He always has a certain pattern though, that i'm sure you'll all have noticed. Firstly he starts by saying that trading is difficult and for anyone not to think so is a chump. Then he tentatively elobourates on some of his setups, by the end he is saying trading is mere child's play and he might as well be robbing somebody. A bit like a used car salesman - i could have sold that car ten times over!
I'm was Larry's online student, took his Cracking the Money Code course(only 200$ comparing to other stuff online thats more expensive than that). Larry's email support is great, it seems like he's constantly glued to his lap top doing the research and looking for new set ups. Its his thirst to markets, thats why he loves it. If you read his books you know that he's marketing his stuff cos trading is never 100% fool proof, and as Larry said:" You never know, if you're a trader, when your Christmas will come". He knows tops reserachers/traders in the business personally, Tom Demark is his good friend to name one...
huh?
WoW. that guy gets bigger crowds than the pope.....
http://www.ireallytrade.com/
tubbs, what are the things that make sense to you that larrys mentioned? what are you hoping larry will provide for you ? I feel uneasy seeing the amount of people he's trying to speak to at once.. I think 7 would be a push, 3 would be good interaction ,but they look like they be a coming in the hundreds and hundreds.
The web name Ireallytrade, they have those on here too, dont they?
maybe email the guy himself, with a list of what you want, be very specific, and see what he writes back with. Who knows it might even make a refreshing change for him to think in his reply back to you, and wonder maybe just maybe. can I supply this....... even if he thinks what you want ,is to him, at the time is a big no no..
Tubbs what do you want?
WoW. that guy gets bigger crowds than the pope.....
http://www.ireallytrade.com/
tubbs, what are the things that make sense to you that larrys mentioned? what are you hoping larry will provide for you ? I feel uneasy seeing the amount of people he's trying to speak to at once.. I think 7 would be a push, 3 would be good interaction ,but they look like they be a coming in the hundreds and hundreds.
The web name Ireallytrade, they have those on here too, dont they?
maybe email the guy himself, with a list of what you want, be very specific, and see what he writes back with. Who knows it might even make a refreshing change for him to think in his reply back to you, and wonder maybe just maybe. can I supply this....... even if he thinks what you want ,is to him, at the time is a big no no..
Tubbs what do you want?
The Baptist
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Legion said:
he is Ok.
I think he has become more marketing while in the begining was more of a trader, although continueing generating tips.
He debunks Candles which I can't agree with and find them useful. does a lot on entries in his courses that always look great but does highlight the drawdown and the exits so much on those 'great entries'. Big on CoT reports and contra indicators like analysts and the speculators net positions, which I can align with.
Ended up with navigator software from Genesis, which was poorly supported and eventually abondoned.
stockmarketshares
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hello everyone,i have just joined up to day and wanted to know about this chap called LARRY WILLIAMS.I have understood his work but yet have to test it out.I am just wondering if anyone has read the books by this chap and if anyone has dropped him an email on his website.I am having trouble sending any emails out to him because no email address is supplied.does anyone know of how else to contact him or any other form of contact?
I have really been interested in his Accumulation/Distribution method.I am just wondering if anyone has carried this method out and i am very interested to know how much anyone started off to obtain any profits with this method of trading?best regards
imran
I have really been interested in his Accumulation/Distribution method.I am just wondering if anyone has carried this method out and i am very interested to know how much anyone started off to obtain any profits with this method of trading?best regards
imran
stockmarketshares
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hello people,i have been following larry williams for some time with the COT report (he also mentions the proxy index-which is to do with stocks but doesnt release this information but points to his website).
the commercials are worth following but has anybody out there actually started trading with this data.i keep asking larry questions and he answers but says am selfish for putting a list of questions out to him and avoids anythign but to got o his website and purchase the program which i cant afford as i am paying a heavy mortgage every month.
i follow his moves but he always puaches everything onto a chart.i think the data is more useful than any chart that he shows you.please email me on [email protected] if anyone has any clue on whats going on in this section?thank you.l
the commercials are worth following but has anybody out there actually started trading with this data.i keep asking larry questions and he answers but says am selfish for putting a list of questions out to him and avoids anythign but to got o his website and purchase the program which i cant afford as i am paying a heavy mortgage every month.
i follow his moves but he always puaches everything onto a chart.i think the data is more useful than any chart that he shows you.please email me on [email protected] if anyone has any clue on whats going on in this section?thank you.l
Quote lifted from Sydney Morning Herald.
¨Larry Richard Williams, 64, had just arrived on a Qantas flight from South Africa on Saturday when he was escorted from Sydney Airport by Australian Federal Police.
The US Internal Revenue Service is seeking his extradition for $US1.5 million ($A1.99 million) in alleged tax evasion between 1999 and 2001.
The Virgin Islands resident is alleged to have "wilfully and affirmatively'' attempted to evade paying taxes on royalties from his 10 books and earnings from the international speaking circuit.¨
Nothing here about any profits from actual Trading Activities - I wonder if he paid his taxes on those profits or ...there was no trading profit ?
¨Larry Richard Williams, 64, had just arrived on a Qantas flight from South Africa on Saturday when he was escorted from Sydney Airport by Australian Federal Police.
The US Internal Revenue Service is seeking his extradition for $US1.5 million ($A1.99 million) in alleged tax evasion between 1999 and 2001.
The Virgin Islands resident is alleged to have "wilfully and affirmatively'' attempted to evade paying taxes on royalties from his 10 books and earnings from the international speaking circuit.¨
Nothing here about any profits from actual Trading Activities - I wonder if he paid his taxes on those profits or ...there was no trading profit ?
JimTru
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I've been a student of Larry Williams for two years now and have taken most of his courses. I enjoy learning from someone who has been a successful trader for over 40 years. He trades first and teaches second.
About his tax problem, I've heard his accountant made the mistakes and he's fighting the charges.
I have followed his trade recommendations this years and made enough to be able to continue trading. Sadly, he announced semi-retirement this year and is scaling back his services.
I'd like to hear from any other students/subscribers about how their 2008 year went.
About his tax problem, I've heard his accountant made the mistakes and he's fighting the charges.
I have followed his trade recommendations this years and made enough to be able to continue trading. Sadly, he announced semi-retirement this year and is scaling back his services.
I'd like to hear from any other students/subscribers about how their 2008 year went.
vatanshenas
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vatanshenas
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I mean do you sell those courses. Also I have many other courses if you interested.
Jim,
I too have been a Larry Williams follower shince 1987. I have made money with his work but have gone bust a few times by believing in it too much. I haven't been trading in the last few years but I am anticipating starting again in the next few months. I use Trade Navigator and have just completed Picture Perfect Trading on Larry's web site.
I am looking for someone to bang around ideas with. I also live in Ill in the Chicago Metro area and like to correspond
safvan
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Are you sure it was the system that led to the bust or the lack of your money management?
I have see tests where you can flip a coin and buy and sell in the market and still end up breaking even or little loss if you have controlled money management techniques.
One can go bust usually when
1. When very small trading time frames are involved usually day trading and using bad techniques over and over.
2. Risking too much per trade.
Larrys strategies work if you follow them correctly and have the patience to hold for a longer time frame.
I have not seen a single billionaire investor/trader that has survived day trading. Eventually even great day traders move to long term holdings with proper money management.
