larry-williamsLarry Williams started as an art student, shifted to journalism and was eventually attracted to trading back in 1962. He was drawn into the industry because it looked as if it was easy money. Motivated by the promise of possibly earning $100 a day, while looking for a way out of hard labor, he began his adventure as a trader.

Larry became profitable after 6 years, and in 1974 had a realization around the conditions that move that market and how vital it is to a trader’s arsenal. He trades S&P’s, Bonds, Crude Oil and Gold.

“That personal diary of trading will make you a much better trader than reading any of the best 100 books ever written.” – 29:08

In the show Larry explains:

  • The importance of finding a teacher that teaches the way you learn
  • Why day trading is not advisable for an aspiring trader with a day job
  • The real deal behind money management and its misconceptions
  • The power of small positions in a trade
  • Why price is least important to him as a trader

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Key Insights

  • You don’t trade the market, you trade yourself
  • Don’t trade more than 3 trades at a time
  • Learn the conditions that moves the market
  • Being a successful trader is a combination of 2 or more elements
  • Find a strategy that fits your emotional threshold
  • Identify your time frame
  • Master the art of Humility
  • Don’t over trade

Larry’s Trading

  • More of an end of the day trader than a day trader
  • Uses 80% Fundamentals and 20% Technical
  • Does not trade more than 3 trades
  • More of a mechanical trader than using automation
  • Uses the Weekly chart
  • Doesn’t use many indicators
  • Sets his parameters and lets the market do its job. Not fond of watching the charts
  • Looks at Trader Reports, Seasonal Factors, and Premiums

Larry’s Strategy

  • He looks at a high level of open interest
  • He then checks Trader Report
  • He checks the Seasonals
  • He checks Premiums and spread
  • He confirms volatility
  • He checks the charts and plots trendlines to confirm entry
  • He sets his entry and stops

HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED BY ANY PARTICULAR TRADING PROGRAM.

ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION, HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE ABILITY TO WITHSTAND LOSSES, OR TO ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES, ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL, OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM, WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS.

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CFTC - U.S. Government Required Disclaimer:

Forex, futures and options trading have large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Don't trade with money you can't afford to lose. Our website, product contents, and materials are neither a solicitation nor an offer to Buy/Sell futures or options. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on our website or in any materials. The past performance of any trading system or methodology is not necessarily indicative of future results. Substantial risk is involved. Forex trading has large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the Forex markets.

Don't trade with money you can't afford to lose. Nothing in our course or any materials or website(s) shall be deemed a solicitation or an offer to Buy/sell futures and/or options. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on our site. Also, the past performance of any trading methodology is not necessarily indicative of futures results. Trading involves high risks and you can lose a lot of money.

CFTC RULE 4.41 – HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN.