Larry Williams Million Dollar Challenge

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Quote from whoispaul:

Clearly, collusion by the floor broker was required. However, it was also possible to have your account directly with him. By giving him discretion he would have been able (easily) to mix trades to give the appearance of "normal" trading, eventually building up one account whereas the other was losing - over a longer period of time.

Now, dont get me wrong, I am not saying LW did this. I am just stating that this sort of thing was possible and, in fact, was going on.
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"NFA fines Larry Williams for not reporting to potential clients that, while his personal account in a promotional 1987 contest was very profitable ( a gain of + $902,599 ), his managed accounts for clients lost substantial funds ( - $6,122,281 ). This constituted DECEPTIVE and unbalanced promotional material and disclosure statements."


lwjurik.jpg







I brought this up in my first post, if nothing fishy happened WHAT THEN IS THE REASON FOR THIS DISCREPANCY, IT'S UP TO LW TO CLEAR THIS UP.....
 
Quote from larrywms:

i have offered to show my actual trading positions.

not a single one of you has replied and sought to find the truth.



lw
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Nobody is interested in your actual trading positions, that's why...

(what are your actual trading positions gonna prove BTW ?
If you are going to manage money, people wil ask for your track record, if you want a job as prop trader, they will ask for a track record if you have one not your actual positions. )


Most are interested in your 45 year long track record ( you say you have 45 experience as a trader)

So far this is what we got :


1987 :

his personal account in a promotional 1987 contest was very profitable ( a gain of + $902,599 ), his managed accounts for clients lost substantial funds ( - $6,122,281 )


1988 :

The Larry Williams Financial Strategy Fund lost more than 50% of its clients’ equity in barely one year, as reported in the October 1989 issue of Futures magazine

1989 :

the World Cup Championship Fund is started, managed by Larry Williams, Jake Bernstein and two others.
The 1989 fund also lost more than 50 % of its original equity by May 1990



2006 :

commodity timing : $33,821



2007 :

commodity timing : $54,486



2008 :

commodity timing : $90,218
S&P daytrader : $49,605


2009 :

S&P daytrader : ($1,143)




2006 to 2009 are for 1 lot trades..




Maybe LW can fill in the performance numbers for the missing years...
 
This was on LW's website om march 2006 :

"Larry Williams has taught thousands to correctly trade the markets, WON MANY TRADING CHAMPIONSHIPS, and has been the only futures trader in the world to repeatedly trade $1 million of his own money live at seminars around the globe."

http://www.elitetrader.com/vb/showthread.php?s=&threadid=65159&perpage=6&pagenumber=27




Mr. Williams ,


Can't find anything besides the 1987 Robbins contest...
What other trading contest(s) did you win ?

You are not lying about this ?




P.S. The second time I ask the above, if LW don't want to answer, maybe some of his supporters can quote the missing contest(s)
 
Mr. Williams,




It was clearly illegal ( see the fine above) not reporting your losses in your managed account to potential clients.


Now , how fair is it when promoting your courses,seminars to constantly reference to your 1987 contest performance and not talking about the losing managed account in that year ?!
You have been doing this for around 15 years.

Probably , most clients would think twice before signing up, no ?


Instead of "challenging" an anonymous critic on a board, why not challenge yourself again in a more regulated environnemnt? sign up with Robbins and show us how much more you have learned since 1987...I guess you could easily multiply your account with 1000 instead of only 100


P.S. And so the deception went on..
 
Quote from Zentrickster:

The nfa found nothing illegal other than advertising hype. NOTHING!! After extensive investigation. What is wrong with you assclowns?
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Dear Clown,



The following is NOT advertising hype :

"NFA fines Larry Williams for not reporting to potential clients that, while his personal account in a promotional 1987 contest was very profitable ( a gain of + $902,599 ), his managed accounts for clients lost substantial funds ( - $6,122,281 ). This constituted DECEPTIVE and unbalanced promotional material and disclosure statements."
 
From LW's website on march 2006 :


"He is the most highly regarded and well known short term trader in the world. No other trader is as accomplished as Larry Williams."

http://www.elitetrader.com/vb/showthread.php?s=&postid=1009290




Sounds like he is the best trader in the world...

Why then isn't LW included in any of Jack Schwager's Market Wizards ??

Didn't I read somewhere that the best traders have no ego ?




P.S. Envy, brother ?
No, just making it clear how vendors operate.
True market wizards make money from trading profits ONLY for which I have the UTMOST respect not by running seminars and challenges that bring in as much as 50*$4,500 = $225,000 in 3 days...
 
Dealing with idiots is a waste of time. But here it goes again assclown. Do you know what promotional material is? It's advertising material idiot. Lw was busted for potentially false advertising hype for not disclosing losses. Are you not able to read? Or simply lacking comprehension skills? He has been in the nfa spotlight ever since with nothing revealed as fraudulent. Your a loser
 
Every single marketwizard has had run INS with the nfa. Some much more agregious than lw.

In addition your Heroes make their money via fees on opm. Not trading personal accounts assclown.
 
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