Discussion in 'Trading' started by dbs119, May 9, 2004.
That one I know.
What time was that, and what made him great?
2. He did the right thing, and he did it well.
Larry is definitely an ideas generator - he may not have the exact historical details right but that's not the point about trading.
Its about making money! As they say show me the money.
I and couple of friends have been to 5 of Larry's Real Time Trading Million Dollar Challenges between us.
And as for money, he made money in 4 out of 5 of them - net profits.
There are some stats on what he's made at: http://www.adest.com.au/larrywilliams/larry_williams_challenge.htm
It says 12 out of 13 he made money - I can't verify the other ones with eye witness accounts.
But can you imagine trying to entertain and teach people while trading and making money? Tough job - but Larry seems to do it better than most as my far as can me and my friends can tell.
Larry says at these Day Trading is hard on people when not done right. He also advocates not being at the screen all the time.
He often goes off for a run after he's set his positions.
Marty Schwartz was on the floor if I remember correctly. That certainly has a limited shelf life. Even Rich Dennis started on the floor - and moved off it reasonably quick.
Anyway, if people show you the money its better than picking on the details. checks in the post count!
What was the right thing then?
He followed all the classic trading rules. But not in the last years, when he couldn't bring himself to take his losses, because he couldn't believe the great bull market.
How do you know all this? Did he ever publish a book? I have heard the name many times, but have never been able to find any info at all. Like to know more....
PS Are you in Europe?
No, Frankie Joe never wrote a book. He was a trader - not a writer. There has been several articles about him. Barron's had a big interview with him. I think it was in 1985 or 86. I suppose you can get a copy, if you contact Barron's.
The change in style was due to the larger amount of funds causing him to lengthen his normal time horizons. It would seem that this occured because the time frame he's trading... a few minutes of scalping... cannot handle the volume of his funds without excessive slippage.
I think you are confusing Frankie Joe with Marty "Buzzy" S. Frankie was not a scalper.
Separate names with a comma.