Maybe we could get Larry Williams on this board to talk about how he did it. We could threaten to bad mouth him with that William Gallacher (sic) stuff ahead of time unless he shares his ideas. What do you think? I understand he only lives a few miles (increasingly expensive) from my house. I would cordially invite him to this board but I do not know exactly where he lives. But he said his lived near Tony Robbins and I believe they both live in Rancho Santa Fe.
LOL, we just looked at some houses there last weekend the wife likes the beach better ... But husband is not willing to pay up. looks like we gonna stay here for another year.
Tony, I don't compare trading with playing the lotto. Trading is about probabilities and lotto about pure luck. Some trader's succes is 90 % skill and 10 % luck, other trader's succes 50 % skill and 50 % luck and some other's 10 % skill and 90 % luck. I believe you are in the first group , I am certain. I believe Larry Williams had 75 % luck in 1987. I believe Danial Zanger had 75 % luck with his world record stock trading. This are just estimates; I haven't investigated and analyzed their track records. Another example ; one guy's track record 12 % ,15 %, 9%, 11 % 8 %, 13 %, 10 % ,9* another one -5 %,+20 %, +3 %,-7% -11% ,+15 % ,+2%,6% I prefer the consistency of the first guy.
It's easier to catch 10 waves of 2 points than 1 wave of 20 points..... because there are more waves of 2 points than waves of 20 points. And the noise that most traders see in the short time frame is not noise if you known what I known... I don't have the holy grail but I come damn close to it... See you in 2003, Tony ! Greetings, Muscles from Brussels. :0))))
Larry Williams challenges all traders to trade against him and when I sent him an E-mail to do so , I don't get a reply...hmmm So, I will trade for whole the world , including Larry. Maybe you guys can learn something from a guy from little Belgium...:0))
I hadn't either until I did a google search. He was featured in a Fortune article located at: http://www.chartpattern.com/news/fortune.html The site looks like he is selling his wares. Maybe since he went to cash, he is trying to make payments on his new mansion with subscription revenues. His track record is taking 11,000 to 18 million. Read the article then you'll know as much as I do about him. Good luck to you sabena, I'll be pulling for you!
He also launched a hedge fund which proceeded to lose around half of the put up capital. Unfortunately his clients couldn´t get out due to a time clause in the contract which stipulated a one year holding time. Rather painful being forced to watch your money dying a slow agonizing death.
He has the record for the largest return ever recorded. Take a good look when though....99 His later track record speaks for itself Hedgefund had a 50% drawdown the first year it was around which was 2000 2001 small drawdown stayed mainly in cash 2002 is flat for the year.... His position sizing BTW is to take all his cash and put it in one stock and use 2x margin and put all of that in another stock. He uses a basic trend line as the stop. Robert Tharp