He could do one of two things - 1) Have a worker in the audience doing the oposite, he buys 5 the other guys sells 5. Money lost would be just on the bid offer. 2) Personally I think it's not that hard to break even in the market (if you know what you're doing). I'm sure many on this board have been trading for years without actually making much, but not losing much either. You get some big wins here and there but the losses mount up and take this profit all away overtime. Williams most probably knows this so it's very possible that if he's done say 50 live trading sessions he breaks even. On the profitable ones he says 'see everyone I told you this stuff was powerful' and then no doubt tries to sell them the 'Masterclass To Powerfull Profit Course' or some bullshit name like that. But when it doesn't work he can say 'well, I told you that it's very hard to make money everyday but look how we used stops and my losses were limited. So if you have 3 profitable days and 2 losing ones a week you'll still come out well ahead' etc etc.
Why does it mean he sells BS courses? Because alot of other people do or because he got arrested? *edit* I don't think you could sell that many courses/books for that many years if it was pure BS or, even mostly BS for that matter. The guy traded, and or taught successfully for 40 + years.
Thought you guys may be interested in this interview with Larry, which came out today on an Aussie site: The Travails of Larry Williams, Futures Trader He talks about his upcoming hearing (the second one) and his fear of being extradited to the US. Interested in what everyone thinks about all this...