Long-Term Secrets to Short-Term Trading
Author: Larry Williams
List Price: $80.00
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ISBN: 0471297224
Publisher: John Wiley & Sons (11 March, 1999)
Sales Rank: 61,818
Average Customer Rating: 4.15 out of 5
Customer Reviews
Rating: 4 out of 5
Zero sum game.
Trading can be a rewarding endeavor, this book is geared for the intermediate student of the markets who has at minimal a basic understanding of the markets. I reccommend this book over the numerous ones i have read and digested on trading, which includes making and losing money. This is one of the handful that stands out. Not in any particular method though it has a few that i have used profittably, but more in an understanding of the markets and some insight into making one's own trading system. The thought process into making one's own system(s) and following it is where i feel many people lack, and most traders are losers. This book shares some insight into various systems that if followed blindly you will never make it, but if seen as a thought process into developing a system one can stack the odds into one's favor in the hopes of turning out more winners than losers.
Rating: 5 out of 5
A "Must Read" Book for all Short Term Traders
As an avid trader and student of Larry Williams, I can say that without a doubt that this is the culmination of a brialliant career. I have read all of Larry's materials, and I have long awaited a single work from Larry that summarizes his short term technique and style of personal trading in a single volume. Larry provides the basis on which to build a system or methodology for trading the markets particularly the bond and s&p markets)that will provide consistent, high probability trades. From pattern analysis to volatility breakout systems to money management this work covers all the bases for establishing a short term style of trading. With his up front, conversational style of teaching, Larry does not confuse the reader with technical jargon that requires a math degree to understand. This book is a must for short term traders!
Rating: 4 out of 5
One of the few worth reading
Although the author has "legendary" status in the trading world, every now and then one comes across biting criticisms of him and his work. One reason for this I'm sure, are the little inconsistencies which occur in his ouvre.
For example, up until the publication of this book, he had written a few, which in hindsight, were all about longer term trading.
It now seems he has been trading short term for years.
Also, he says in Long Term Trading that he trades bonds and the S&P, and yet other quotes I've seen attributed to him say he trades the stock index only.
For all that, this is a tremendous book. Very easy to read but the devil is in the detail.
My only criticism is that at times the editing is very poor, and a simple literal when discussing trading systems can turn a winning system into a losing system.
Also his results were attained using Omega/Trade Station and when the same systems are tested using a different software, the results can flucuate enormously, sometimes invalidating the original system tested. This point seemed to surprise Larry but is one he should have been aware of.
However, it is undoubtedly the best book on trading I've read. Similar Products
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Book Index