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Larry Williams: From $0.01 Million to Over $1.1 Million

Discussion in 'Forex Discussions' started by Currency Expert, Feb 26, 2015.

  1. Currency Expert

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    LEARN FROM THE GENERALS OF THE MARKETS - PART 61

    “According to a popular drink advert in the UK, good things come to those who wait. Trading is no different. It takes time and practice to become a consistently profitable trader. But when you do get there, everything will become very easy.” - Max Munroe

    Larry Williams is a very brilliant American trader, author and researcher. He was born in October 6, 1942, in Miles City, Montana, USA. He graduated from Billings Sr. High, in Billings, Montana, in 1960. He also graduated from the University of Oregon, Eugene; being a student of journalism. While at school he was very active in sports. He also belonged to Honorary Professional Fraternity (Alpha Delta Sigma), in which he was a notable member.

    He’s written at least, 11 popular books on trading and other important topics. He created many popular indicators like Williams% Percentage Range, COT indices, cycle forecasts and others. With his loyal friend, Louis Mendelsohn, who’s also a trader and software developer, he’s created new cutting-edge analytical tools.

    In 1987, Larry Williams was the winner of World Cup Championship of Futures Trading from the Robbins Trading Company. He turned $0.01 Million to Over $1.1 Million in twelve months. That reflected over ten thousand and nine hundred percent returns. He was given an award by the MTA (the Market Technicians Association) in 2014. He also funds a scholarship that is available to the University of Oregon students of journalism and communication who’re creative, but may not have a high GPA.

    Larry has been involved in various forms of activities, including politics, charities, researches, trading seminars around the globe and so on and so forth. His website is: Ireallytrade.com.

    Lessons:
    Here are some of the lessons that can be learned from Larry.

    1. You’re already a trader, according to Larry. How true is this statement! You buy or sell wheat. You travel and exchange currencies. You buy and sell houses. You offer goods for sale, or you buy goods. The list can go on endlessly. You’re already a trader; though in a different sense. Why can’t you then go professional and tap the riches the markets offer you? Larry lives the life many people can only dream of. He lives in the US Virgin Islands, writes, does research and enjoys trading.

    2. Let’s please see the quote at the beginning of this article. The quote is from Max Munroe, and it says that when one masters the market, one would discover that trading is easier than is thought. This profession has a bad public image because people think it’s extremely difficult to make consistent profits in the market. It’s truth is that this is difficult for those who don’t know what they’re doing. The solution to the problem in the art of trading is simple indeed.

    3. Larry has been trading for more than 50 years. His lasting career means that it is possible to attain a lasting success in your career as a trader.

    4. As far as Larry is concerned, trading excellence runs in his family. 10 years after he won Robbins Trading World Cup Championship, his daughter Michelle (Academy Award Nominee) won the same championship. That was the year 1997. His son Dr. Jason Williams, who’s a psychiatrist at Johns Hopkins wrote a book titled “The Mental Edge in Trading,” which documents the personality of successful market speculators. Do you want trading excellence to run in your family? Do you want your spouse, your children, and so on, to become successful in the markets? Do you want your children to be richer than you?

    5. Part of his secrets is seasonal patterns and market cycles. These things work for traders who know how to take advantage of them. Please go learn about them.

    6. Yes, people can learn to trade. Just like any other professions, trading is an art that can be taught. If you’re interested, you may want to look for a great coach to show you the way. One thing that is special about Larry – unlike most other coaches – is that he also trades. He doesn’t only coach; he trades. Larry has been an educator for just as long as he’s been a trader. There are many coaches out there who can’t trade profitably over the long term, but there are coaches like Larry who can, and does, trade profitably. Larry himself said: “When I teach people how to day trade I put my own hard cash at risk, so you can really see how it works. I have traded $1,000,000 in front of students and gave them back 20% of the profits.” These are the people that are recommended for those who want to learn how to become wining market speculators.

    7. Price is king. It’s the most important indicator and the final arbiter. The bulls and the bears may fight and disagree, but price is the one that will tell who’s right or wrong.

    Conclusion: Top traders know they’re victorious only because they accept their errors. That’s why they’re victorious. Accepting errors make them rich, since they also get battered by the uncertainties in the markets. They can be adversely affected by unforeseen crashes and rallies. They can lose money in foreign markets (or make money). Their timing may be sometimes wrong, and they may even invest in wrong stocks. But instead of accepting defeat, they mentally recovered (as the case is always is). They aren’t bothered with a positive or a negative trade. These great speculators are very good at accepting negative trades, making uncertainties their ally, and facing negativity victoriously. That’s why they’re rich.

    This piece is ended with a quote from Larry:

    “If you are not yet making money, what do you do? Go back to the basics! My bet is that you have not learned what moves markets...”


    Source: www.tallinex.com
     
  2. Sharon Higgins

    Sharon Higgins New Member

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    I don’t think such returns are ever realistic for everyone, so that’s we need to use our heads and go blindly with these things because it’s not something that will work, it’s not by fluke but proper hard work, so we also need to do that. I only do that and I feel happy because that’s how I will achieve my dreams and targets, but we just need to be determined, if we are doing that then we will go very far. I do a lot of hard work, but my biggest guarantee of success is my broker OctaFX, as they are pretty special with having epic conditions that includes low spreads, high leverages and mighty cash back scheme which gives 50% back on all trades, so just superb!
     
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