I can't speak for others, but I don't make million-dollar calls. But where are his million-dollar calls? Anywhere?
First we find out @Overnight has no Foreskin, now we find out Larry Williams may not be all he's cracked up to be. I don't know if I can take much more of this!
Well, in the past few months I’ve live called the NDX correction low (in October) to the day, my BTC exit one day after the high, and on Feb 22 predicted the recent QQQ high to within a buck. (I said probably tag 450, final high was 449.34, my bad) Everything is clear as mud when folks are trying to trade using chart voodoo pulled from 50-year-old books written by seminar gurus, lol. Imagine trying to succeed that way in any other competitive field.
Yeah, no kidding. I've been doing it since the early '90s. You name it, I was there. Every boom/crash, every cycle tops and bottoms, even weekly and daily swing highs and low. I hit them all to near perfection. Accuracy: 99.999999999999999999999%. Now who wants to buy my book?
I'd buy your book. I wouldn't buy a system, chatroom, etc., but a book, sure, you must have interesting stuff to tell.
I cant remember exactly how he did it, been years since I read about it, but if you want to repeat then you need to the following: Risk approx Full Kelly , this is normally around 10% for most trading systems, and average 1R per week, 52R per year. If you bet Half Kelly (eg. 5% risk per trade) you need to average 100R for the year. You also need to luck out with an outlier year.. like 1987 or 2008
He only ever did it once if I recall correctly, and it was at a time when he was simultaneously managing other people's money in unsegregated accounts. Those unsegregated managed accounts lost much more than he made in his own account. This was at a time when time stamp lags allowed for mischief among those so inclined. Did Williams engage in any such shenanigans, or is he a paragon of virtue? Who's to say? But to my knowledge he never repeated his performance since. Coincidentally, I also don't recall that he ever managed money again. I could be mistaken. If so, please advise.
I once made around 2000% in a year, it was 2008, i haven't been able to repeat it since. I was trading with IB and they were limiting my margin. If I had an AMP Account back ten i could of made 10,000% that year quite easily. I don't know if Williams really made 10,000% or not. But its not impossible with Fully Kelly and a positive outlier year. Anything resembling a slow trading year and you blow the $10,000 starting account for sure when you risk that much. You will end up turning $10,000 into $1,000 or Zero.
Well, it seems that Williams's outlier year was that single year in the '80s, to the exclusion of every other year since. Unless I am mistaken, of course. There are lottery winners with more consistency, and they don't typically write books or sell seminars.
If he legit made 10,000% in one year. It sounds like he won the trading lottery by catching an outlier year while taking biggish bets. He then decided to make $1 Million+ per year as a sure thing, by selling books and seminars. Sounds sensible to me. If i had a talent for selling systems seminars as well as trading, i would do both. But making 10,000% every year (or even 100% every year) is not something you can do on demand in any given year.