Whats the update on Larry Williams?

What an irony… I just finished last night re-reading one of his bestsellers “How I made one million dollars….last year trading commodities”. I read again once every four five years. I still do not know whether he made it paper trading or real trading. The title of chapter one, page one is EXACTLY HOW I MADE MY MILLION DOLLARS BUT PAGES 1 TO 8 are just generalities.
Nevertheless I owe to this book immensely:
1. over the years I protected the capital by just following religiously his three phase method of managing money: a) the 30% stop rule. It is not a stop but he means you STOP INVESTING once yo have invested 30% of your capital. B) rule number two, USE STOPS. C) Rule number three: LIMIT THE NUMBER OF POSITIONS.
2. The %R, a jewel! I got the book on the early 80’s but I was using this oscillator as early as 1975. On those days we did not have computers or internet but it was simple to compute with pencil and calculator on a small group of commodities. Over the years the bulk of profits came from the %R oscillator: overbought/oversold and crossover under/over -50. If I’m not mistaken Lane’s creation of the “stochastics” was based on Williams %R.

What a pity!!! I’m very sad to learn the trouble he is in now. His mind was (is) 24/7 on trading, maybe he overlooked that besides losses, commissions, spillage, etc. we have to share with the taxman what we get out of the vault on this trading arena. Sad…sad!!!!

Best!
mF

 

Isn't the %R the same as the CCI? Measures
overbought/oversold?

 

hi tradecrumbs:
on your question:Isn't the %R the same as the CCI? Measures
overbought/oversold?
That's a good one but i do not know the answer. I'm a fan of the CCI to but it never occurred to me. I kind of mirrors the %R.
However the CCI practically has no boundaries while the %R is contained between -100 and 1
Best!
mF

 

larry was given questionable advice by a supposed reputable lawyer/tax team. thats all i have to say on this subject. surf

 

Darn tax people mess up AGAIN. Hard to find a good one these days.

 

LOL

And the down side is?

j/k

 

Delete this stupid thread.

 

I wouldn't care nearly as much about my son smoking a joint as I would if he was toking on a dick.

 

Uhhh, that's really sick.

Like I said, this thread should be deleted.

 

I can't imagine the IRS not telling LW something like "We have denied your appeals and are dissallowing these deductions. Pay us $XXXX or we will prosecute for criminal charges..." Really, I don't think they just chuck you into jail without warning. Don't they give you a chance to pay?

At that point he should have realized the game was over and just paid up. So what I don't get, is why, if LM is such an incredible trader and educator, he didn't just drag out the check book?

I mean. what's a lousy $1.5 Mil to Larry Willaims?