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The Famous Trader Larry Williams Part 3

Entirely Larry Williams was switched to work on stock market in 1966. And the next year he has received the official certificate of the financial consultant, i.e. now he had a just cause to give advice to beginners. At first he tried the forces in the share market. Books of that time convinced that answers to all questions are given by schedules. Remembering those times, Larry notices that in the mid-sixties each technical indicator had for him some value. But gradually Larry has a little changed the opinion though performed transactions, being guided mainly by acceptances of the technical analysis.

It is impossible to tell that its stock trading was super successful. But, having seen interesting acceptances which Larry used, one of its familiar traders has advised him to try the forces in the urgent market. He was completely switched to this sector. Here he was expected also by the world glory. Already in the early seventies he has earned first million dollars. But he has received world fame only in 1987, having taken part in prestigious tournament on exchange trade – Robbins World Cup. Larry began with 10 thousand dollars. But for a year, trading futures for bonds and index S&P 500, he has increased the investments to 1147 thousand dollars, i.e. has earned more than 11000 %.

Thus it is necessary to consider that 1987 was year of the well-known collapse in the American share market. On Monday on October, 19th the Dow Jones index has fallen to 23 %. And if not this failure the success of Larry would be even more essential. After all following the results of September its assets already exceeded 2 million dollars. This phenomenal result isn’t surpassed till now and it is considered a world record in investment. By the way, later 10 years his daughter Michel also became the winner of these competitions. But with much more modest result (the third in the history) only”1100 %.

The record in the championship, of course, didn’t become his end of career of the successful trader. But thus it has allowed Larry to earn additional money, imparting experience. In the course of time he hasn’t lost trading form. Not so long ago, in 1997, he again managed to become successful on an earning of reference one million. For a year of trade he has transformed the sum of 50 thousand in more than 1 million (more than 2000 %).

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