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B. Williams must not be as smart as his brother L. Williams. L.
Williams does use stops and is a big proponent of MM. A couple of years
ago, I was at FSI25 in Las Vegas. It was Ryan Jone's first MM seminar.
It was L. Williams that got him there, because L. Williams wanted to
stress MM at the seminar.
Tim Proeber
> -----Original Message-----
> From: David Cicia [SMTP:David.D.Cicia@xxxxxxxxxx]
> Sent: Tuesday, June 02, 1998 8:17 PM
> To: RealTraders Discussion Group
> Subject: Re: Larry Williams
>
> I also took the B. Williams tutorial. He told me that using any kind
> of
> money management was "coming from fear, not confidence." In my
> opinion,
> listening to anything he has to say is a major threat to your equity,
> and
> you SHOULD be afraid. None of his trading ideas are based on sound
> principles - just "confidence" (if you know what I mean.) Risk control
> and
> money management are the most important aspects of playing this
> game!!! Run
> away quickly and steadily from anyone who tells you differetnly!
> David Cicia
>
> At 10:11 AM 6/2/98 -0500, Peter Timaratz wrote:
> >>Bill Williams also talked about "trading the market not
> >your wallet" in connection with stop
> >>placement.
> >
> >I was a student of Bill years ago. Back then I had a fairly
> >small account and I told him I thought it was too risky for
> >me to trade bonds with this size of account. He said I
> >should trade the market and not my wallet. I agree that
> >stops should be calculated based on market considerations.
> >But if a stop entails too much risk relative to your account
> >then you shouldn't take the trade. It's a simple money
> >management principle, but Bill didn't agree with it.
> >
> >
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