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How to Match Indicators to a Trader's Personality

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Lots of traders would like to trade like Larry Williams with his 50 years of experience. That starts with confidence to act on a trading approach, which requires the right setup conditions spotted by his indicators and entry, exit and money management techniques. Williams’ indicators available only on TradeShark reduce the learning time for traders of all time frames and styles.

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We’re talking with Larry Williams today, he is a world famous trader over the past 50 years.  Very famous for turning $10k into 1 million dollars in 1 year.  I had the privilege of giving him the lifetime achievement award in trading a few years ago.  Larry, you’ve had a long career, a long history in trading.  People want to know, how do I duplicate your success.  First of all, is that possible?

Sure it’s possible, a lot of people have.  Usually the winners of these trading championships are my students.  This year’s winners so far, my students, last year’s winners, my students, and my daughter won it one year.  I home schooled her when she was a being homeschooled.  So a lot of people have learned.  That to me is really the thrilling thing about what I do.  It’s one thing for me to make money trading and that’s great, I’ve made millions of dollars trading.  I’m one of the few people that can actually say that, I’ve done it.  But if I can’t pass that on to other people, I can’t share that.  It’s just about Larry and Larry’s life is really is about a lot more than just Larry.  So to see people become successful just before this meeting, before the filming today I had a meeting with a guy who is managing money now, substantial amount of money, student of mine, started, now he’s managing a lot of money.  Like this is so cool to see that I can take somebody, just literally a high school a kid when he met me and now he is a professional money manager.  So that is a big accomplishment in my life, not my trading success, that’s great but to take other people, make them successful, that’s a real benefit to Larry Williams.

So I know you’ve released some private stock indicators that you’ve never released before, now they are exclusively in TradeShark.  How important is it to know and get educated with trading.  I’m assuming that just having the right indicators may not be enough.  What else does a trader need to do?

Well, it’s probably like trying to find a needle in a haystack.  The needles in the haystack and if you have a big magnet you could pick that needle out right in a hurry right?  But if you don’t have a big magnet you’re going to look around and figure out how to find the needle, so the understanding, the technology of how these indicators work is really critical.  You need to be tied in to whatever it is.  If I show you the letters of the alphabet that doesn’t mean you can go read.  Somebody will have to show you how we form words with these letters.  Same thing with my indicators, anybody’s indicators really, you have to be taught.  You have to have really good tools, then you have to understand how these tools work.  That’s another thing you have to overcome and that’s a good educators is going to get you not only to see how they see but also because what you see you will have enough confidence to act.  So if you don’t have enough confidence to act on indicators, they’re not going to do you any good.  So I had to get the confidence, from someone showing you these things, mastery is really a function of repetition.  So you repeat going over these indicators with somebody who’s schooled in them to teach you and that’s a nice advantage we have at TradeShark, you can be taught how to use these indicators.  That’s how you’re going to find mastery when it comes to the art of trading.

This is probably the closest way to get Larry Williams trading next to me by having your indicators and using them with TradeShark right?

That’s true. 

So, how does a trader then get that knowledge, I mean because they are exclusively available in TradeShark the team at TradeShark is there to help you learn how to use them as well which key.

Absolutely, and that’s an interesting word.  You mentioned that team.  It isn’t just enough to have my indicators, you need to have other people there to support you to help you learn, really about a lot of things when it comes to trading.  What’s first notice day, what’s rollovers, what are months about, you really need to have somebody explain all these things to you.  It used to be done by brokers by the way.  Now since we are all trading electronically there is no broker to explain this to you.  You either have to learn it on your own which is kind of a rough tough road or have somebody like the people at TradeShark and say yeah, this is what delivery notices are, this is what a rollover is, these are the months we trade, these are the margin requirements.  Wow, what an education that you just can’t get any other place.

Now there’s 50 years of knowledge behind these indicators. 

Well that’s not quite right.  Fifty years studying but the knowledge came the later part of my years I think trading.  I don’t know how many years I spend going down the wrong paths and how much, I still so much time I spent in research that accomplishes nothing.  So what I brought to TradeShark is what works.  I have literally spent millions of dollars on research of stuff that just is junk that I thought would work and didn’t work.  Other people’s ideas and indicators that doesn’t work.  So what is being delivered to people in TradeShark is on a platinum platter.  This is stuff that works, I know, I’ve traded it, I’ve done it.  My students have done it.  This stuff works. 

So in essence is this a shortcut to trading success. I don’t have to go through all the millions of losses and dollars and research that you had to do, I can just jump straight to that success.

Probably a 6 to 7 year shortcut.  You want to get to that point sure, trade, try to learn on your own for the next 6 or 7 years, you’ll get there or you can get there today.

Give me an example of some of the markets I can trade with your indicators, are they each for different markets or can I trade them all?

The uniqueness of my indicators is they apply to all markets because they are really about somebody coming in and buying this on a professional basis.  So the people that buy hogs are the same professional people, they’re educated the same way if you will, as somebody who buys google or somebody who buys gold, copper, the S&P Mini’s or soybean.  These markets, remember this Tim, these markets exist not for traders, the markets exist for the commercial business.  The enterprise for the exchanges are set up so people can facilitate business there.  Not for traders, we’re an afterthought. So if we understand how an industry buys, say gold or copper, wheat or soybeans, the professionals buy the same way, it doesn’t matter what the market is.  My tools will work on markets in America, when I go to Japan the same tools will work there, South America they will work there, Italy, they work there or China, they work there, because we’re looking at professional approach to the market not just some random number generator that created an indicator, we’re looking at how markets really truly operate, what makes markets move.  The conditions that’s what my indicators are about.

And how about timeframe, if I’m a day trader or a swing trader.  What should I be looking there with your indicators?

Well if you’re a day trader you should probably be looking at talking to my son who’s a psychiatrist.  If you’re a longer term trader than that, then you should be looking at my indicators.  My viewpoint and maybe it’s because of my age, is I know where I’ve made most of my money and it’s not been day trading. I made my money by having a small position and capturing a big move.  Interesting thing about that, with a small position, if I have a loss, I have a relatively small loss and I can capture a big move.  The only way I’ve ever made money day trading, big money, is I might make 40, 50 thousand dollars a day, day trading but if I’m wrong I can lose 40 or 50 thousand.  I need a opposite risk reward ratio, day traders don’t get it.

Your indicators obviously talk about when to get into the market does it also tell you when to get out or when the move is over?

Oh, absolutely, most people focus on just the entry in the marketplace which obviously you got to have that but equally if not more important to know when to get out.

Sounds like there is a lot of complexity in these indicators but, TradeShark’s made it easier, simple to read them, talk about that.

To become a good trader it has to be simple but it is complex as you pointed out.  The complexity started really when I realized that we need entry techniques, we need set up techniques, entry techniques, exit techniques and money management techniques.  Those are the four things we need. If we have those four things then we can make a path through where we want to go.  So I’ve dissected each of those into their own element if you will, to make it, Oh okay, here’s a setup here’s an entry, there’s an exit.  So it really simplifies it.  Keep it simple is really critical.  These markets are so confusing plus they are emotional.  So we get our emotions involved on the markets and we have a complex system?  It’s not going to work.  So it’s real simple and the simplicity of the indicators for TradeShark is what makes it, I think much easier for people to become successful traders.

Now you have other indicators but and people may be able to find similar things out there.  How do the ones that we are talking about, the ones that are exclusive to TradeShark, how are they different?

Well, all my indicators are based on the same idea, that we’re going to first find setups and we’re going to find conditional markets then were going to find entries and exits.  It’s really the conditional aspect that’s a difference and the simplicity because one indicator is going to major the accumulation of the market, that’s it.  You’re going to have to chase a lot of things plus people buy a lot of my books over the years and I really appreciate that.  The royalties of my books have gone to sponsor scholarship at the University of Oregon.  We put a lot of kids through college.  My readers say thanks very much for doing that.  It’s been great for kids in the University of Oregon.  But for $15 or $20 do you really think you’re going to get the really key ingredient?  No, it’s a book.  It’s a book, it’s a starting point.  However, in TradeShark, it’s a different point.  People are spending a lot of money for these indicators.  These got to be the best, the most current of my work in the last 53 years. 

And it’s not just the indicator you then got the support.  So the indicators a part of it but you’ve got the support behind you to actually make money with those.

Right, you’ve got to have an understanding of how to use the indicators, need somebody there you can touch basis with, that’s there at TradeShark.

And the team at TradeShark has been certified or personally trained by you to do that.

Yes, they’ve worked with my tools and not just one week two weeks.  They understand the tools and they learn more about the tools maybe than I, I’ll tell you why.  They’re talking to people every day about it.  The best way for me to learn something or you to learn something is to teach it to somebody else.  As a teacher, I can teach you da da da da da….  You won’t learn nearly as fast until you teach it to someone else.  So the people at TradeShark are actually teaching my materials so they know my materials really well because they have to teach it.  When you teach something that’s the best way to learn something.

Alright and lastly, some general ideas about how a trader can set themselves up for success once they have your indicators in TradeShark.  Give us some ideas of what they can do to start off with and really kind of set the platform up for success in trading.

Well, I think the most important thing a trader can do really, doesn’t have anything to do with TradeShark or with Larry Williams.  They have to identify their goals, what type of trader they are because ultimately we don’t trade the markets, we trade our personality.  So maybe you’re a day trader, maybe you’re a very long term trader.  You have to understand your own persona.  Once you get that established then you need to ask about what’s my risk factor, how much risk and pressure can I take or my wife can take. You need to establish that.  Once you understand that, A. what’s my trading style, what’s my risk quotient here, how much can I risk and still feel comfortable then you can move on to actually the art of trading.  That’s where I bring in the indicators.  Once you’ve established your base money management and understanding your personality then the doors going to open up.

Larry, thanks for your time today.

My pleasure, thanks Tim.

We’ve been talking with Larry Williams, world class trader and the author of the exclusive indicators in TradeShark.

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