Larry Williams

Frederick Foresight said:
You guys realize, of course, that he's just throwing everything against the wall and you think he's doing you a favor. The guy's only claim to fame is winning a trading contest decades ago under suspect conditions, as noted by the NFA. And to my knowledge he has not been able to replicate that kind of performance ever since. I don't recall his even coming close. He's just running on fumes, regurgitating trading pablum, some if it dubious, and you guys are gobbling it up with your eyes closed. Meanwhile, his observable performance, as evidenced in the "Million-Dollar Challenge seminar in St. Croix in 2004, per my earlier reposting, is rather lackluster.

But do let me know when he wins another contest.
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FYP

Your (half)quote is in the wrong place .... as "evidenced" in the Million-Dollar Challenge
 
semperfrosty said:
To follow that advice you would need,on your very next trading day,to choose a trade and bet your entire trading account on a positive outcome.

I note that your style is to 'click' buy or sell across the trading day.Whilst I struggle to see that you have an edge,spreading your trading across the day in small increments at least limits your risk for any one trade and allows you to play the probabilities.

'Risk of ruin' and 'Live to fight another day' would have been more appropriate lessons from LW.
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Exactly, you want to play the probabilities as indicated by the largest dataset you can collect. If you have enough datapoints, you could even work with a mere 1.3 profit factor.
 
semperfrosty said:
To follow that advice you would need,on your very next trading day,to choose a trade and bet your entire trading account on a positive outcome.

I note that your style is to 'click' buy or sell across the trading day.Whilst I struggle to see that you have an edge,spreading your trading across the day in small increments at least limits your risk for any one trade and allows you to play the probabilities.

'Risk of ruin' and 'Live to fight another day' would have been more appropriate lessons from LW.
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But if you don't have an edge, you probably have a negative edge after commission and spread, and you lose that much more each time you play. You're just prolonging the inevitable unless you're just looking to get lucky.

But I think the takeaway is that you shouldn't bet without an edge unless it's for entertainment.
 
Frederick Foresight said:
But if you don't have an edge, you probably have a negative edge after commission and spread, and you lose that much more each time you play. You're just prolonging the inevitable unless you're just looking to get lucky.

But I think the takeaway is that you shouldn't bet without an edge unless it's for entertainment.
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Agree.

I didnt mean to compliment his style but anything is better than 'I have no edge so I'll bet the farm on the first trade that pops into my head'.
 
Darc said:
Are Brokers allowed to Trade on behalf of someone else? That's interesting and sounds ripe for misuse, like a defacto Fund etc.
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%%
MY banker dad ,smiled, told me when i was a kid '' I think ALL businessmen are crooks''
I smiled + noted to my banker dad ,''I don't think you are a crook ''LOL:D:D
SORRY\but market s are not a'' coin flip'';
many reasons .Chiefly , even if you want to use A COIN AS A PIC, some ''toss the coin'' as Proverbs notes.
Big difference in a toss + A FLIP.
Any/ that ran a business knows its not as simple as a coin toss ........
 
semperfrosty said:
To follow that advice you would need,on your very next trading day,to choose a trade and bet your entire trading account on a positive outcome.

I note that your style is to 'click' buy or sell across the trading day.Whilst I struggle to see that you have an edge,spreading your trading across the day in small increments at least limits your risk for any one trade and allows you to play the probabilities.

'Risk of ruin' and 'Live to fight another day' would have been more appropriate lessons from LW.
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Hello semperfrosty,

Good response. I personally would not risk my entire trading account on one trade but I still think its a good idea to do.

I believe this is how Mr. Williams made all that money in one year, he was betting the entire account on one trade.

Yes, I click buy and sell button all day and NO I do not have an Edge. Have no clue in the world what a damn trading Edge is. Sounds like a scam.

NOONE on the ET forum can identify with me what a Trading Edge is and how it has made them a $1million in one year. NOONE. So, forget this trading Edge bullshit.
 
Frederick Foresight said:
The guy's only claim to fame is winning a trading contest decades ago under suspect conditions, as noted by the NFA.
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Hello Frederick Foresight,

He gambled trading in 1987 and made $907,000 on the gamble trading. He won. Whatever he did to make that 11,000% in one year, worked.

So he is a good trader to me. Best I know so far. He almost made a $1million dollars. I am very curious what he did!

I know another two traders back in the 1990s who made $5million trading in about 2 months as well. This is trading to me. Get rich, or get poor.

Mr. Williams is a great trader to me.

P.S. I do not care how someone makes a $1million dollars in a year trading, as long as they do it. Even if the $1million is loss the next year trading. That is what trading is to me, pure gambling with experienced.
 
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