Strategies of the best traders. Larry Williams.
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Trader Larry Williams is one of the most famous and successful professional traders to date. In addition to practical activities, Larry is widely popular as a theorist who regularly holds seminars in different parts of the world. The books of the legendary trader have become real bestsellers.
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Larry Williams Strategy
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It is quite simple. Larry prefers trading on medium and long time frames. The trader recommends waiting for the beginning of a strong steady trend. Once a suitable trend is detected, the search for entry/exit points begins. Williams believes that price changes are not determined by the past. That is why most of its indicators do not predict future events, but only help with the assessment of the current state of affairs in the market. In particular, considerable attention is paid to determining the balance of power between buyers and sellers.
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“Throughout my life, I learned that a successful trader should have the following qualities: a strong desire to get rich, a desire to satisfy ambitions and internal dissatisfaction with his financial situation”.
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It is widely believed that L. Williams practices intraday trading. At least on the Internet you can find many short-term strategies attributed to him. Williams himself put it quite clearly on this subject:
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Such trading is a matter requiring maximum stress and concentration throughout the day. Moreover, such work for depreciation does not provide sufficient financial compensation.
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According to Williams, modern technical means are not very effective here. In general, the famous trader is convinced that only medium and long-term trading can be truly effective, and it is worth responding to strong signals lasting at least a couple of hours:
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“It seems to me that everyone dreams of a paradise. I am infinitely grateful that the markets allowed me to improve my financial situation. In 2003, I was able to purchase a home on St. Croix’s Island, located on the territory of the Virginia Islands. Come here on vacation, maybe we can get to know each other.”
