Larry Williams seminar London
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The General
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Come on Baptist out with it.......
The General
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Perhaps u too busy making money off the back of the retrospective insights given by Williams ???
The Baptist
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first phase feedback
I have been contemplating what I have learnt and how I may integrate into my current trading style. I trade breakouts and wished to supplement my exit strategies.
Anyway Greetings to the patient. Just got a mo' so I will bullet a few and put up others later:
His strategy appears to be ave trade time 2.5 days or less.
His entries are tactical ie. the Ooops entry or delayed Oops These are gaps effectively which close the gaps and are good entries at the top/bottom of the preceding bar before the gap.
He conducts a lot of entry based research ie. if the previous 3 bars are all down closes on down ranges and the last day is a bigger larger range the probabilities for a profitable entries. This continues to including bond up days before going long S&P (T-bonds open before).
Also regular days and months can consistently perform more regularly in certain markets with out always having a specific explanation and should be exploited. Ie. a trade entry on a monday on the S&P after an inside day on a friday (previous 3 days beeing down) with Bonds up in the same morning in the month of January may provide a very high probability bull trade especially if you can get say a gap entry signal. Each of these details coming up as highly regularly up days/months set ups etc..
Another useful indicator but of fundametal value would be Commercial buying in say commodities especially on decreasing open interest other particapants exiting (ie. dumb money ie. specs and large traders excl commercials) especially as price drifts up - very bullish as commercials use market for getting in inputs (not spec) ie. choc co. buys sugar when its cheap and they can make profit.
Almost all major commodities run ups sees' comm involvement prior.
Another better indicator for relative valuation ie. how do we value Pbellies, well we can assess there relative movement to Gold which is primarily an inflation index. Sometime a commodity can be a better buy higher up at a later point, as it has lagged relative to gold this is a better OB/OS indicator.
Plus plenty more like an indication on the commercials in the FOREX market and to gauge what the hedgers and market users are doing not the specs.
Oh and yes he has stops and m.mngmt strategy.
Thats all for now, while I run that account up a bit further.
Happy trading to all, yes even to the sceptico's - keep growlin' into your gruel chaps, it'll go better when you invest in your learnin innit :cheesy:
The General said:
I have been contemplating what I have learnt and how I may integrate into my current trading style. I trade breakouts and wished to supplement my exit strategies.
Anyway Greetings to the patient. Just got a mo' so I will bullet a few and put up others later:
His strategy appears to be ave trade time 2.5 days or less.
His entries are tactical ie. the Ooops entry or delayed Oops These are gaps effectively which close the gaps and are good entries at the top/bottom of the preceding bar before the gap.
He conducts a lot of entry based research ie. if the previous 3 bars are all down closes on down ranges and the last day is a bigger larger range the probabilities for a profitable entries. This continues to including bond up days before going long S&P (T-bonds open before).
Also regular days and months can consistently perform more regularly in certain markets with out always having a specific explanation and should be exploited. Ie. a trade entry on a monday on the S&P after an inside day on a friday (previous 3 days beeing down) with Bonds up in the same morning in the month of January may provide a very high probability bull trade especially if you can get say a gap entry signal. Each of these details coming up as highly regularly up days/months set ups etc..
Another useful indicator but of fundametal value would be Commercial buying in say commodities especially on decreasing open interest other particapants exiting (ie. dumb money ie. specs and large traders excl commercials) especially as price drifts up - very bullish as commercials use market for getting in inputs (not spec) ie. choc co. buys sugar when its cheap and they can make profit.
Almost all major commodities run ups sees' comm involvement prior.
Another better indicator for relative valuation ie. how do we value Pbellies, well we can assess there relative movement to Gold which is primarily an inflation index. Sometime a commodity can be a better buy higher up at a later point, as it has lagged relative to gold this is a better OB/OS indicator.
Plus plenty more like an indication on the commercials in the FOREX market and to gauge what the hedgers and market users are doing not the specs.
Oh and yes he has stops and m.mngmt strategy.
Thats all for now, while I run that account up a bit further.
Happy trading to all, yes even to the sceptico's - keep growlin' into your gruel chaps, it'll go better when you invest in your learnin innit :cheesy:
The Baptist
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Tufty, in working out the mans take as we are all interested in doing there were 35 on day 2 and roughly 30 day 1 at an ave of about $700 he did OK!
The Attendee's were in general pretty pleased. I was generally too, though I would say a lot of time was spent on entries. Which without a hard wire exits allways being specified may not have had the opportunity to develop.
He advocates getting out on the first profitable open on the Whoops/gap entry and keeps a money stop, but then the maths needs to be run on bet size to ensure stop not too tight.
He admits poor money management in his millionaire winning year where he made 1,1 mill. He was at 2,2 mill and was drawn right down to 750,000 on account of allowing drawdown to get to big and bet size. he then got it back up to 1,1 mil in the last 2 months. So may be some truth in the traded like a lunatic critique levied by some.
How to feel bummed out making a genuine mil be 2 mil up 2 months before year end!
The Attendee's were in general pretty pleased. I was generally too, though I would say a lot of time was spent on entries. Which without a hard wire exits allways being specified may not have had the opportunity to develop.
He advocates getting out on the first profitable open on the Whoops/gap entry and keeps a money stop, but then the maths needs to be run on bet size to ensure stop not too tight.
He admits poor money management in his millionaire winning year where he made 1,1 mill. He was at 2,2 mill and was drawn right down to 750,000 on account of allowing drawdown to get to big and bet size. he then got it back up to 1,1 mil in the last 2 months. So may be some truth in the traded like a lunatic critique levied by some.
How to feel bummed out making a genuine mil be 2 mil up 2 months before year end!
Well read....you made me laugh. You can see me coming like a train!! I'm trying to understand the man's motivations.
Anyway I realize I'd have a problem with any of this. I trade systematically and so for me to get confidence in any system I have to do extensive out of sample testing. Any methods given by someone else may well be curve fitted and I've got no way of knowing if they are or not. If I went to his seminar I'd have to assume all his methods are curve fitted (up to the date of the seminar) and wait for an appropriate amount of time before testing the on unseen data. It would be money not well spent for me.
Good luck in your trading.
Anyway I realize I'd have a problem with any of this. I trade systematically and so for me to get confidence in any system I have to do extensive out of sample testing. Any methods given by someone else may well be curve fitted and I've got no way of knowing if they are or not. If I went to his seminar I'd have to assume all his methods are curve fitted (up to the date of the seminar) and wait for an appropriate amount of time before testing the on unseen data. It would be money not well spent for me.
Good luck in your trading.
The Baptist
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Tuffty said:
Tufty some of his testing has gone back over a hundred years, But as you say 'offer trust but always verify'. Also certain higher probablity days, months range set ups, moon phase
etc.. work and then stop, one instance maybe when reports used to come out and ceased.
JimTru
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I attended a recent LW seminar and it was very good. By my measure, Mr. Williams is honest and has every indication that he trades often and is profitable every year. He does have a lot of experience, so he uses his own discretion when selecting trades, even after employing his own techniques. For me, he's been nothing but genuine and helpful.
