Quote from OldTrader:
There's a damn good chance that there's more "deception" or "propaganda" in your statements in this thread than there was in Larry Williams trading account.
I guess you're aware that Williams trading account was thoroughly investigated by the CFTC and the NFA. They found no wrongdoing as you suggest.
In fact, as I understand Williams was operating a "pool" at the time. He wasn't managing any individual accounts. The reason this is important is that in order to have done what you suggest, he would have had to always be right in his own account, and always be wrong in the pool account. Now what do you suppose the odds of that are.
Conversely, if he made trades which he did not specify the account (illegal by the way), he would have had to involve Robbins...the broker. Now don't you suppose that when the CFTC investigated this, they would have been able to detect this? And again, let's assume that he guessed the market direction and was wrong. So now he has to place this in the pool account. But he would have nothing in his own account. LOL!
What's more likely is that your information is just plain wrong. Doesn't change the record. Williams was written up for not publicizing an accurate record, which would have included the results of the pool account. The pool account records were terrible.
If you're going to charge Williams with fraud, then perhaps you ought to cite something a little more factual. Because the CFTC didn't charge him with that.
OldTrader