19 thoughts on “We Interview Larry Williams

  1. If you want to understand the methods used by Larry Williams better buy a book or two about the Commitment Of Traders Report ( COT ) . For me this is the most legal fundamental information that I can find about the insights of the markets !

  2. I think what he meant is the "reading" part that he doesn't like. The charts are simply a way of presenting a time-series information, but chart reading can get very very complex with many indicators and overlays. My impression of Larry is that he trades on seasonable patterns and market fundamentals. So, you probably won't see him talking about using Fibonacci or complex technical analysis.

  3. I had trouble with the comment about charts too.

    He came across as a thoughtful guy and must have mis-spoke. Either that or he has become an investor instead of a trader. Buffet doesn't pay much attention to charts either. If you have a five to ten year timeframe the charts are less meaningful. Still, he was commenting as a trader with comments like paper trade and risking small amounts at first so that doesn't seem to wash either.

    It would be good to do a follow-up interview to find out what he meant - there must be a logical explanation - markets are simply not rational in the short term from a fuindamental point of view as the gentleman above points out. Buffet acknowledges this too - or as JK Galbraith once said "the markets can remain irrational much longer than you can remain solvent."

    1. Thanks Rad, I just want to add that I have a great respect for every trader, whether successful or new - working at trading or looking to find a trading "method" and "discipline".

      I venture to say that whatever a trader uses for a trading method, Lucky Charm Patterns like LW or W. Wilder using the Moon cycles, I can say each to his own.

      Maybe because I trade FX that is why I have a healthy 'respect' for charts. I do know that professional bank traders use charts, Livermore did, Wykoff did, Andrews did, Dennis & the Turtles did, Adam & the INO team does, and so on - and they make or made a heck of a lot more money than LW.

      That said,the word "Goofy" is the best way to describe the now 'infamous' LW interview, at least in the way it was presented.

      In my opinion INO & Adam should provide us all a better carification to the apparent nine year old interview or at least let LW clarify what he was saying. This in respect to LW and readers.

      In any case, the positive I get out of all of this, is that if I get tired of trading with Ouiga board, tea leaves, and chicken scratches on paper (charting) - I can pay LW $15,000 for a seminar and learn how to trade - and just maybe with lots of advice from "The Cramer", become a very successful trader!

  4. This was THE most useless waste of my time yet ! What in hell does this guy actually use to make decisions , chicken bones , wiji board , WHAT ? To talk about charts that way is ridiculous and ends any credibility for me . Why do you guys think a 9 year old interview from this wacko is credible today ?

  5. If this is from 2000 I can guarantee you that he paid plenty of attention to charts. I attended a 3 day seminar late in 1999 by Larry and everything was related to his proprietary charts and set up patterns in the bonds and sp500 that were developed by his partners who are actually software specialists. He stated he was trading about 200 contracts per week in these markets. His is point should be, I don't believe in charts unless they are my charts on my software. However, it is a great statement to make to get people interested and asking the questions only Larry can answer. He use to run marathons back then too. His next interview should be about the IRS and tax law I think.

  6. Well, I just want to say - I sure am glad that I am still on this planet to everyone who commented and are as bewildered as I am about this bizarre comment by Larry "the cable guy", because that is who they must have interviewed nine years ago before he gained weight and became a comedian!

  7. Why in the world show an interview from October 2000 with the date May 2009 shown above the box? The implication is that the interview is current and cogent and only some minutes into the interview do we learn that it was recorded 9 years ago.

  8. "Charts are chicken scratches on paper." I used to have a lot of respect for Larry but, after that statement, I wonder what he has been smoking. I have been trading the markets for 50 years and I don't have the slightest idea how you would trade the S & P or DOW based on fundamentals. 500,000 people lose their jobs and Chrysler declares bankruptcy on a Friday. The market goes up 40 points. Excuse me? The market should go down 200-300 points based on that information. Yet I made money that day on the Dow BASED ON THE CHARTS. If I was a fundamentalist I would have lost my shirt. No thanks, Larry. I'll stick to my charts. You go ahead and use fundamentals.

    1. Well said Frank.
      There is nothing of any use in that interview for anyone who has even moderate experience of the markets.

  9. Interesting view from someone who doesn't believe in charting. Alex, that interview dates back to 2000 right? Has Larry change is views re: technical analysis since then?

  10. Can someone please explain to me Larry Williams comment in the interview about using charts. He stated that he has "no respect" for them and looking at charts is just like reading tea leaves.

    Is this the arrogance and ego of a very successful trader because Williams comment simply amazes me.

    I do understand how he may look for specific trading patterns but what does he use to see patterns, heaven sent visions in his 'Lucky Charms' cereal bowl each morning?

    I would really like to understand what he is saying more clearly in this short interview or get the same stuff he is "smoking" and do what he does!

  11. Larry doesn't like technical analysis or charts. What does he use? How does he setup a trade?

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