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Hello list and hello Larry.
I normally resist the temptation to respond at length to these types of posts
but ....
Here is my experience with Larry's work and my limited knowledge of his
career.
First lets talk track record.
According to Gallagher in WINNER TAKES ALL which i will try to condense.
Williams won the Robbins Trading Company World Cup of futures Trading contest
turning 10 thousand into
over a million dollars. The next year , Larry Williams Financial Strategy Fund
was launched. The year after that ,1989 the World Cup Championship Fund
managed by Larry and others was launched. A little more than a year after
inception , the Williams Financial Strategy Fund was closed after more than a
50 percent drawdown.The World Cup Championship Fund suffered a similar fate
in a little over a year after it was started.
Larry's courses and books :
I have Sure Thing commodity trading which i back tested over cattle data and
updated the statistics thru 1995 and found the results were not acceptable
from my perspective for most of the seasonal predictions in that market,
though there were one or two that did hold up. I purchased Larry's Future
Millionares video training course in 1996. It was really pretty good for me
given where i was at the time in my trading career. In spite of one of the
earlier posts remarking that Larry's work is technically unoriginal it does
cover some pretty useful concepts such as range cycles and pattern analysis .
These concepts are built upon by Conners . I personally Have incorporated Some
of Larrys Work as elements in a profitable SP day trading method. This method
is based on bits and pieces from ANGELL , CRABEL , GETESS , and WIILIAMS. I
would stress that one must evaluate lots of ideas and back test them before
using them with real money. Any one who blindly accepts that a method or
system works without researching its drawdown by back testing it personally is
probably going to lose their capital. I have followed approachs , without
doing this homework , such as Ken Roberts and Terry Davis and as a result lost
my starting capital on two occassions 3 years apart. By the way Larry is an
excellent presenter and public speaker and a good teacher of his approach from
what i could see on the video. Larry's Work is not a bad place for a rookie to
start.
PROMOTERS:
Well Larry is a good promoter as are a few others in this strange business. We
may as individuals not admire their tactics but they do produce an ongoing
fresh crop of losers , of which I have been twice , that is neccessary for the
experienced trader to profit from. It is also from this ongoing influx of
relatively inexperienced crop that a few will emerge and do the work required
to be a good trader. I used to be pissed off about Roberts and Davis and
losing my capital but have come to realize that it was just tuition and it is
my own fault if i blindly follow someone else without doing the work on my
own.
Dale
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