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Day Trade Futures Online by Larry Williams
Anyone read this? Here's my thoughts...
I'm a big LW fan and as I already have all LW's available material I
bought this. But what a disappointment.
The meaty bits are lifted straight from Short Term Secrets, there's no
attempt to disguise the text and even many of the chapter headings are the
same. He hasn't even bothered to update the charts which end at 1998. The
chapter called The Theory of Day trading is the same as The Theory of
Short-Term Trading in Secrets and Attention Day Traders is the same as
Short-Term Trading from a Quote Screen. Day traders are going to be
mightily disappointed, particularly as he says he doesn't day trade and,
as we all know, most of his trades are position trades over 1-3/5 days.
He's added bits about computers, brokers and Internet Resources but
nothing you can't already find on the Net in greater detail.
So, existing LW fans will be much, much better off buying Secrets and
would-be day traders, too, although if they're looking for a complete
methodology they ought to stay clear. This book can do nothing but give
fuel to LW critics who claim he makes more money from books and seminars
than trading.
It is nothing but a blatant attempt to jump on the Day Trading/Online
bandwagon and although I still value his other work, LW has lost a few
brownie points by releasing this. John Wiley, the publisher of both books,
gets zero marks, too, as they must be aware of the similarities.
Anyone else got it? Picked up anything useful from it? Thoughts?
Cheers,
Ian
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