Larry Williams?
- Thread starter swtrader
- Start date
Thanks for all the responses, and I welcome more.
I read that "In response to my critics" page, and that had red flags all over it for me. Seemed strange. That's part of what prompted my starting this thread. Most professionals do not have a page like that, yet everyone has a critic at some level
I read that "In response to my critics" page, and that had red flags all over it for me. Seemed strange. That's part of what prompted my starting this thread. Most professionals do not have a page like that, yet everyone has a critic at some level
Sure, but most so-called professionals do not trade live during seminars making money for their attendees, if that's true what he says. And if it really is true then he is exceptional. I don't know if that's true, so cannot comment any more.
Also, the better you are the more likely you are to have envious enemies in the business where sharks abound. Mediocrites do not threaten anybody, so they have no enemies. Apparently, Larry Williams is no mediocrite.
Well, I have some experience with Larry's material...
I was a subscriber to several of his various hotlines for a 1 year period. Overall, his calls did not produce profit for me for that year after costs were figured in. About half the trades were profitable, but often these were 'held' with a trailing stop that eventually gave back much of the initial profit. The other half were outright stopped out for losses in the 500 - 700 per contract range.
Several others I know were using only his S&P calls on his morning hotlines and did fairly ok with them. A greater number of losers offset by some very nice winning 1 and 2 day trades.
I attended one of his "Million Dollar Challenge" seminars, and I will say this: They are for real. He traded live, placing orders right there for all of us to see and hear, we watched the profit/loss. We watched the entry and exit techniques, and yes, we walked away with a profit, recovering the cost of the seminar, and in my case the cost of the travel and lodging etc. We got a pretty nice dinner out of it too, which won't help your trading any.
I suppose it is a testament to something, perhaps simply that my style of trading didn't fit well with his, that I no longer subsribe to any of his services. Had I to do it over again, I'd rather have found other information sooner that fit my style as a person and trader more closely. A lot of the problem was that I didn't know me as well at that time. But I did learn a lot of interesting techniques from him, one or two of which I do employ in a modified way today.
He makes a lot of his money from seminars and so on, and yes, he freely admits it. I don't know whether he cheated on this or that contest etc. I don't know whether he trades daily in his own accounts on a regular basis. I do know that he's a real guy, he backs up his methods at least sometimes at the MDChallenges, he's extremely bright, and let's face it, he makes a very good living.
I think depending on what your goals are, what markets you want to trade, and what you already know, you can do worse than studying his material. If you have any hardcore questions about my experiences, shoot me a PM and I'll see what I can add.
----Tacs
PS If having critics is an indication of success, some people on ET must be Trading Gods. I thought all you had to do was post to get some critics.
PPS I'm not a subscriber to any of his services as I mentioned, nor am I affiliated with Mr. Williams in any way.
I was a subscriber to several of his various hotlines for a 1 year period. Overall, his calls did not produce profit for me for that year after costs were figured in. About half the trades were profitable, but often these were 'held' with a trailing stop that eventually gave back much of the initial profit. The other half were outright stopped out for losses in the 500 - 700 per contract range.
Several others I know were using only his S&P calls on his morning hotlines and did fairly ok with them. A greater number of losers offset by some very nice winning 1 and 2 day trades.
I attended one of his "Million Dollar Challenge" seminars, and I will say this: They are for real. He traded live, placing orders right there for all of us to see and hear, we watched the profit/loss. We watched the entry and exit techniques, and yes, we walked away with a profit, recovering the cost of the seminar, and in my case the cost of the travel and lodging etc. We got a pretty nice dinner out of it too, which won't help your trading any.
I suppose it is a testament to something, perhaps simply that my style of trading didn't fit well with his, that I no longer subsribe to any of his services. Had I to do it over again, I'd rather have found other information sooner that fit my style as a person and trader more closely. A lot of the problem was that I didn't know me as well at that time. But I did learn a lot of interesting techniques from him, one or two of which I do employ in a modified way today.
He makes a lot of his money from seminars and so on, and yes, he freely admits it. I don't know whether he cheated on this or that contest etc. I don't know whether he trades daily in his own accounts on a regular basis. I do know that he's a real guy, he backs up his methods at least sometimes at the MDChallenges, he's extremely bright, and let's face it, he makes a very good living.
I think depending on what your goals are, what markets you want to trade, and what you already know, you can do worse than studying his material. If you have any hardcore questions about my experiences, shoot me a PM and I'll see what I can add.
----Tacs
PS If having critics is an indication of success, some people on ET must be Trading Gods. I thought all you had to do was post to get some critics.
PPS I'm not a subscriber to any of his services as I mentioned, nor am I affiliated with Mr. Williams in any way.
Interesting thread. A controversial guy, as most people who win national trading contests with the record he had would be (turned $10,000 into $1,147,000 in one year and I believe he had more - $1.6 ml? - but lost it being a little too aggressive). A lot of people are looking for someone to show them the magic button they can push to make them instant multimillionaires, and then become angry when they don't get it. And I'm afraid no one has such a button to offer you. I've been to several classes Larry gave at The Money Show trading seminars in Las Vegas. I thought he had some very useful things to say and he had a good sense of humor. He did promote himself though quite a bit I thought by slipping in his successes and his daughter's from time to time while saying, "I'm not here to promote myself. I couldn't care less." etc., etc. Ha. He's been around for a long time and mostly trades commodities. That's a good point that was made by Tacsian that his style may be different than yours but I try to learn from everyone, especially people with lots of experience, and did learn some useful things from him. Good link to the "In response to my critics" page, mgkrebs. I know he's also a very close friend of Tom DeMark. His website's at http://www.larrywms.com/ and Tom's is at http://www.tomdemark.com/ They frequently trade against one another live at trading seminars, usually for charity.
He's been around for a long time and mostly trades commodities. That's a good point that was made by Tacsian that his style may be different than yours but I try to learn from everyone, especially people with lots of experience, and did learn some useful things from him. Good link to the "In response to my critics" page, mgkrebs. I know he's also a very close friend of Tom DeMark. His website's at http://www.larrywms.com/ and Tom's is at http://www.tomdemark.com/ They frequently trade against one another live at trading seminars, usually for charity. Check out a thread on him here.
http://ctcr.investors.net/people/williamsforum.html
He occasionally posts there.
http://ctcr.investors.net/people/williamsforum.html
He occasionally posts there.
It is kind of like standing at a coke machine after you've been outside all day in the hot scorching sun. You put in your 50-75 cents and push the button and nothing happens. Sweat is now pouring off your forehead and stinging your eyes while you start pounding the button.
"Gimme my f#$%#ing drink!!!" BANG BANG BANG.
Then you try to get your money back and it doesn't come back -- and you realize that was the only 50 cents in your pocket. So then you start beating the machine and finally you give up and start walking what seems like miles until you find the bathrooms. Then you make due with a water fountain near the stinky bathrooms while having to put your lips really close to it because it is barely coming out. Your thirst is never quenched but yet you're getting enough not to ever leave it.
Yep, that's trading.
Are you guys serious?! That is his daughter?!?!? Holy Cow!
Quote from Avalanche:
Here she is. Michelle Williams 1997 World Trading Champion.
I tried to attach the picture from Maxim magazine but it was too large.
Seriously if you go and she is there hanging with Larry, let me know, I would love to have her on my trading desk.
:eek:
Also forgot to mention that Larry ran for the U.S. Senate from Montana in 1978 and 1982 and actually came close to winning both times.
http://www.montanaforum.com/rednews/2002/10/14/build/ethics/negativeads.php?nnn=2
An interesting guy. I remember seeing a photo of him and Ronald Reagan boarding an airplane waving. Don't recall but it may have been Air Force One.
And here's a speech Ronald Reagan gave for Larry during his second Senate race.
http://www.reagan.utexas.edu/resource/speeches/1982/81182b.htm
http://www.montanaforum.com/rednews/2002/10/14/build/ethics/negativeads.php?nnn=2
An interesting guy. I remember seeing a photo of him and Ronald Reagan boarding an airplane waving. Don't recall but it may have been Air Force One.
And here's a speech Ronald Reagan gave for Larry during his second Senate race.
http://www.reagan.utexas.edu/resource/speeches/1982/81182b.htm