Williams%R is a favorite of mine. Most people don't ever take the time to learn what it is indicating and therefore never figure out its special magic. An old copy of Darvas's book gave me my start. The only book anyone really needs to take $10K to a $1MM and beyond.
Well good trading!! Glad to hear the millions are on the way. Any update as to when we might expect a full report? I know at one time you were in the red and then managed to get rid of the drawdown, how many contracts are you trading now? When can we expect your book? (Big Grin Just kidding)
Like O'Neils book I ignored that one because of the simple title. It's now one of the books I recommend to any aspiring trader. A simple strategy that still works today.
Larry William said it himself there's some luck involved, he didn't think anyone would come close to this result in the future, and he won't duplicate that again. He risked 30% of his account on each trade and compounded it, so he could easily blow up. He actually took huge drawdown from equity peak 2million down to 750,000 and worked his way back to 1 million. I am sure he put away very small money to enter the competition, so still good money management by him. He is willing to lose everything in his small account in exchange for maximum gain. Anyone who risk 30% of his account and do it long enough, I am sure he will end up broke. So stay real, none of that 10000% BS. But that said, if he risked 3% of his account on each trade, he would still end up with 1000% which is still impressive.
All the fanboys keep saying how Little Willy made 1 million and ignore the fact that in the same year he lost 7 million dollars in a different account.
Larry said that a few of his clients lost 40%. For trend trading big DDs are the norm, not to mention that 1987 was a bloodbath. Dunn clients had a -35% DD.
I believe that he was trying to be safe with OPM while using maximum leverage and big risks with his contest account. Look at large funds today, they have several different programs running and some win big and some lose big in the same time period. The coin toss comment is probably being take out of context. How you enter a position isn’t the factor that determines profitability. It’s how you manage it after you’re in. Knowing when to jump ship and when to take profits could make a coin flip strategy profitable.
Good Morning tony.m, What's the problem with this? The investors lost money in the market, they took a risk and loss. Larry Willimans traded his own account and won. He was trading his own account with big risk something he can take.