Special Larry Williams Issue

March/April 1994

Special Double Interview with Trading Legend Larry Williams. Larry Williams has been a major force in the futures and stock industries for over twenty years. His 1974 book, How I Made One Million Dollars Last Year Trading Commodities, is a true classic in the field and continues to be a bestseller. He is also the author of several other very popular books on futures and stocks.

Larry added to his fame when he entered the Robbins World Cup trading contest and ran $10,000 up to over $2 million, then lost over a million and by contest end had $1.1 million. This indepth article is reveals the inside story of that amazing trading feat. Hear the story from the man himself!

You will also read how Larry tackles drawdowns in his equity. He talks about his current pattern recognition and volatility studies. Larry also gives his thoughts on how long to hold trades and how to place protective stop orders.

Read how Larry spends his typical day, what chart services he uses, and what software he likes. Larry also shares some excellent advice for the beginning trader.

One of the key areas in the interview is Larry's ideas on the characteristics of a good trading system. Some of them will surprise you!

Larry has battled securities and futures regulators for almost as long as he has been in the business. Larry discusses his recent battles with the National Futures Association and the Commodity Futures Trading Commission. This fascinating discussion gives his insights into the current state of the newsletter industry and the problems with the current regulators. All newsletter readers will find his comments important for understanding the pressures on newsletter writers.

Besides futures trading, Larry talks about his adventures in Saudi Arabia tracking down what he thinks in the real Mt. Sinai. He also ran twice for Senator from Montana and lost by a total of less than 4%.

The second of our two interviews with Larry focusses entirely on his day trading principles. Larry talks about the use of oscillators, trends, time of day, and pattern recognition. Larry is one of the acknowledged masters of day trading. You won't want to miss this one!

We wrap up the Larry Williams section with a complete test of Larry's OOPS system. We show you how it works and how well it works. We tested the system over 14 commodities over the previous 10 years.

Reviews: Market Masters by Jake Bernstein. The Mathematics of Technical Analysis by Clifford J. Sherry. The New Gatsbys by Bob Tamarkin. The Traders by Sonny Kleinfield.