A day's trader (video)

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LARRY R. WILLIAMS
Saturday, 18 June 2011 01:04

Larry-WilliamsBorn October 6, 1942 in Miles City, Montana, a famous trader and technical analyst with a solid reputation in the world of futures trading, managed to get from an initial capital of $ 10,000 the astronomical figure of $ 1.1 million in less than a year, winning in 1987, the Robbins World Cup Championship in Futures Trading, an event covered by the National Futures Association and the Commodity Futures Trading Commission.

 

It all began in 1962 when Williams shows a strong interest for markets and President John Kennedy's steel producers are obliged to restore the prices of their products instead of playing to the continuous rise. Larry thought that if we had found "short" the market, this would have made ​​millions. In 1964, Larry Williams graduated from the University of Oregon in journalism, hence his passion for writing. In 1966 he developed his most famous indicator, "Williams% R" which is still published daily on many important financial papers as now become a standard indicator. This indicator, like the stochastic is between 0 and -100, virtually inverted scale. Analyzing the value of this indicator when it is within the range of values ​​between 80% and 100%, then we are in a phase of oversold, but if the value of the indicator is between 0% and 20%, then we are in a state of overbought.

In 2006 Williams was arrested for tax evasion in Australia awaiting extradition to the United States, but the trader denied any involvement in March 2007 and won an appeal to the Federal Court in Sydney, resulting in the cancellation of the practice of extradition because the judge considered the authorities at that time had not enough information to properly assess the case.

Besides being a great trader, Williams is a marathon runner in his spare time, and says there is a similarity between these two worlds, because everyone can take part in a marathon as well as anyone can do trading, but only a good workout, will lead to success. Williams has published a series of best-selling books on financial markets and was the first to the seasonality seen as a factor in predicting future prices of goods.

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