Larry Williams update: "Now on the run" - Daily Telegraph

Well first

I don't get the point of talking about "belief in" indicators....

It aint church...

Indicators offer you psychological comfort. Something to lean on so you don't blow a gasket if a trade goes south, and so you have some idea of when to get the hell out if it goes north...

Also

I wonder if any of you hosers have taken the time to actually learn how Williams indicators work..For instance

Williams "Ultimate Indicator" combines 7, 14 and 28 day momentum indicators into one...This little trick can be applied to any momentum indicator and then you just slap your name on it...

In this instance you just do the calculations for each individual time frame (7,14,28 for instance), then you sum or average the values to get the "composite" figure..

Here's the formula

1. Calc today's buying pressure

Buying pressure is = today's close - the lower of today's low or yesterday's close.

2. Calc today's true range

True range is the greatest of

Today's high - yesterday's low
Today's high - yesterday's close
Yesterday's close - today's low

Sum the daily BP figures over 7, 14 and 28 day periods
Sum the daily True Range figure for the same periods
Divide the BP sums for each of the period by the TR sums for each period

Weight the BP/TR ratios

4 x (bp7/tr7)
2 x (bp14/tr14)
and bp28/tr28 (not weighted)

Now if you are following this, one of the things you "get" is that the most recent 7 days data are used several times in the calc process. So in effect, the 7 day period is more heavily weighted than the other periods...

One of the things you folks could be doing, is learning about the way that some folks are using cycles in trading to develop indicators. Williams indicator is just one example...There are plenty of others some that even add 4 or 5 periods to get a single composite value..

Why you say....what good is it..well the basic idea is that strength of trend can be derived by obtaining a composite figure taken from several smaller periods (Martin Pring for instance)..

Okay you rocket scientists can take it from here...

Steve
 
Quote from TRS:

Abos is a racist term in Australian culture.
:mad:
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Don't the Aussies called Abos 'Boings' as that's the noise they make when they bounce off your Roo-bars :)
 
*Sigh*

Meanwhile, the questions I asked of marketsurfer and mschey on the last two pages, which were not rhetorical, remain unanswered. How utterly convenient. No doubt, they are too busy raking in the money (or leaves, or whatever).

And Pekelo (since you call me Thundy, may I call you Fecalo?), you're just a giddy teenager, aren't you? First, I don't trade YM. Second, if you are going to refer to your idol's indicator, at least get the name right. You call it %W whereas Larry calls it %R. If you take a moment to look at the chart you posted, you might even be able to see that. What you won't see, however, is that Larry basically "appropriated" George Lane's stochastic indicator by turning it upside down and putting his own name on it. Oh, such lofty heights you aspire to!
 
Quote from Thunderdog:

And Pekelo (since you call me Thundy, may I call you Fecalo?),


Whatever rocks your boat, man. I don't think Thundy is degrading though, but friendly.


you're just a giddy teenager, aren't you?

I wish I was, man, I only wish...


First, I don't trade YM.

It works with stocks too.

Second, if you are going to refer to your idol's indicator, at least get the name right.

Oh, gee man, at least come up with some GOOD criticism. I don't care how we call it as long as it works. I started to call it W%, so W% it is. I am too old to change habits. Maybe we should call it 'constant moneymaker"...

is that Larry basically "appropriated" George Lane's stochastic indicator by turning it upside down and putting his own name on it. Oh, such lofty heights you aspire to!

Again, I DO NOT CARE, as long as it works!! You would rather be splitting hairs or make money?
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Here is a present for slowthinkers on a random stock, swingtrades:

Question: how many % did you make a month with that 3-4 trades using Larry's indicator?

 
Quote from Pekelo:

... Whatever rocks your boat, man. I don't think Thundy is degrading though, but friendly.
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True enough. My apologies about the name calling. Let's leave it at that. Good luck with your trading.
 
Quote from Thunderdog:

*Sigh*



Meanwhile, the questions I asked of marketsurfer and mschey on the last two pages, which were not rhetorical, remain unanswered. How utterly convenient. No doubt, they are too busy raking in the money (or leaves, or whatever).

And Pekelo (since you call me Thundy, may I call you Fecalo?), you're just a giddy teenager, aren't you? First, I don't trade YM. Second, if you are going to refer to your idol's indicator, at least get the name right. You call it %W whereas Larry calls it %R. If you take a moment to look at the chart you posted, you might even be able to see that. What you won't see, however, is that Larry basically "appropriated" George Lane's stochastic indicator by turning it upside down and putting his own name on it. Oh, such lofty heights you aspire to!
More...

I don't know if you realize this but generally speaking, a losing trade is just a winning trade turned upside down...sometimes a slightly different perpsective is exactly what is needed to make $ in the market.

Sigh....arguing with you is like putting a screen door on a submarine....it just don't make sense. This is one bad trade I'm happy to be out of. Whether or not you look at or use larry's material is meaningless to me...the best case scenario is that you don't embrace it, burn through your capital, and decide to give up your dream of becoming a trader.

Meanwhile, I am long bonds and short S&P and smiling at the results I'm getting...which begs the question what results are you getting?

Good day to you...it's certainly been a good day here, hell even good week, month and year!
 
Quote from mschey:

...Whether or not you look at or use larry's material is meaningless to me...the best case scenario is that you don't embrace it, burn through your capital, and decide to give up your dream of becoming a trader.

Meanwhile, I am long bonds and short S&P and smiling at the results I'm getting...
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So what you are saying is that if I am not "embracing" Larry's...stuff, then I am crashing and burning? The man must be a god! I'll keep that in mind. (The only other context for your comment is a rather sinister one, and I'd hate to ascribe that one to you.)

I don't trade bonds, so I cannot comment. However, I do trade ES. While there is certainly no reason to frown at your short at this moment, I think smiling may be a bit premature. Good luck, though.

And don't worry about not answering my questions directed to you on page 11 of this thread. I drew my own conclusions.
 
Quote from mschey:

Meanwhile, I am long bonds and short S&P and smiling at the results I'm getting...which begs the question what results are you getting?

Good day to you...it's certainly been a good day here, hell even good week, month and year!
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Short the spoos and happy? Selling the high tick has netted 3 handles. Don't forget to send Larry a cut after Bob takes his onerous commish.
 
Quote from riskarb:

Short the spoos and happy? Selling the high tick has netted 3 handles. Don't forget to send Larry a cut after Bob takes his onerous commish.
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Was long 18 bonds, sold out of 10, and that's where the money was made....still short the S&P we'll see what holds.

Larry, he made his cut when I bought his material.

Bob...well Bob always makes his money...what can you do...I don't trade futures through them though, I have a seperate account for that.
 
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