Long-Term Secrets to Short-Term Trading 
asked by jan1975 on November 25, 2006 7:39 PM
Sharing his years of experience as a seasoned and successful trader, Williams offers his market wisdom on a wide range of topics, from chaos and speculation to volatility breakouts and profit patterns. With his expert guidance, you'll learn about such fundamentals as how the market moves, what are the three most dominant cycles, when to exit a trade, and how to hold on to winners until the end of your chosen time frame.
Along with in-depth analysis of the most effective short-term trading strategies and details on the best theory and implementation of money management, Long-Term Secrets to Short-Term Trading features Williams's winning technical indicators, as well as his thoughts on a broad range of topics. Here is a sampling:
* "A short-term trader has one objective; to catch the current trend of the market. That's it. That's all you should try to do!"
* "The shorter your time frame of trading the less money you'll make."
* "You will never make big money until you learn to hold on to your winners, and the longer you hold the more potential you have for profiteering. . . . It takes time to make money regardless of the activity."
* "Wealth is not amassed with just good market calls. It also requires correct money management."
* "I think you need to fear the market and fear yourself. . . . Without fear there is no respect, if you do not respect the markets and fear yourself you will become one more dead body on the long trail of commodity market casualties scattered across the land."
Filled with invaluable insight, precise rules and formulas, and helpful advice from one of today's most respected market players, this comprehensive and practical resource will serve as the basis for, if not indeed become, your short-term trading "gospel."
Along with in-depth analysis of the most effective short-term trading strategies and details on the best theory and implementation of money management, Long-Term Secrets to Short-Term Trading features Williams's winning technical indicators, as well as his thoughts on a broad range of topics. Here is a sampling:
* "A short-term trader has one objective; to catch the current trend of the market. That's it. That's all you should try to do!"
* "The shorter your time frame of trading the less money you'll make."
* "You will never make big money until you learn to hold on to your winners, and the longer you hold the more potential you have for profiteering. . . . It takes time to make money regardless of the activity."
* "Wealth is not amassed with just good market calls. It also requires correct money management."
* "I think you need to fear the market and fear yourself. . . . Without fear there is no respect, if you do not respect the markets and fear yourself you will become one more dead body on the long trail of commodity market casualties scattered across the land."
Filled with invaluable insight, precise rules and formulas, and helpful advice from one of today's most respected market players, this comprehensive and practical resource will serve as the basis for, if not indeed become, your short-term trading "gospel."
Reviews
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After reading most of this book, I realized that there are some good common sense tips that we just don't think about. I immediately applied them and found some successful use of these tips. However, the book chock full of poor explanations, some awful grammar (poor editing?), and certainly is a chore to soak in. Charts leave you hanging, as they are poorly or lazily explained. I read many technical networking books from Cisco Press, electronics engineering books, financial books, chess books, and other publications which many others would find difficult to read. I find this text near the top of the most difficult to read (speed-readers will not learn anything). When comparing this book to other texts, it seems he's making a desparate attempt to cram his whole life's reaserch (his "working thesis"), abridged into one small book, with absolutely no effort to promote retention. I believe Larry Willaims to be an expert on trading, and I welcome any info he has to offer, but I see him as no teacher. It would be better for him to teach a string of writers, and practical acedemic teachers his techniques and let them connect his knowledge to the common reader.
reviewed by onthemic on November 28, 2006 9:30 PM
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i found this book to be insightful and interesting to read... some good tips for better more profitable trading!
reviewed by glenn11 on November 29, 2006 2:52 PM
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Mr. Williams specializes in the S&P 500. You won't find a better or more proven trader than Mr. Williams. He is very generous with his techniques and trading methods, complete with well researched studies of successful trades. His ideas can also be applied to other trading vehicles. You can't lose reading any and all of Mr. William's books. Well worth the purchase price, as you are capturing over 35 years of successful and documented trading experience.
reviewed by tubi on November 29, 2006 3:55 PM
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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.
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.
reviewed by lauren on November 29, 2006 6:35 PM