Customer Reviews

How I Made One Million Dollars ... Last Year ... Trading Commodities

5 star:		(7)
4 star:		(3)
3 star:		(3)
2 star:		(1)
1 star:		(3)

 

 

Take the sections on price structure and open interest - throw the rest out if you like. You'll still have the most valuable trading book I've seen written to date. I see ten other reviews here, and only a couple mention OI's significance - mostly in passing. Very sad. Open interest's relationship with price action on a few levels deserves at least a few years of study, although it won't take you nearly that long for you to at least appreciate its importance the way it's presented in this book. This was the first market book I paid for as a market newbie in May '88. I still have fond memories of this basic OI move for OJ may 88, COP aug 88, PA oct 88, CT fall 88, COF dec 88, HO and HU summer 89. Try telling me again how worthless this book is...quit criticizing and study harder. The answers exist and much of it is humanly achievable. You're given a small morsel of it here and yet I see nothing but a ho hum response. That in itself is an interesting market lesson.

This was the first book I bought about futures when I was 16. A whole new world open up before my eyes, and the credibility couldn't be paralleled turnin $10,000 into over 1.1 million in real time, no one has topped.

Three years later I sat and passed my Series 3 commodities broker license. I still kept this book with me and used some of the practical approaches detailed in the book to help my clients trade more successfully.

Now after being involved with futures for 11 continuous years as a broker, an investor, and the author of three futures books I still find myself referencing Larry Williams material.

Unfortunately, others have a hard time accepting his methodologies and ideas. But if you have read MarketWizard by Schwager, none of those traders were alike. They traded with their own style, with their own risk tolerance, and most importantly with their own goals.

That's why Williams' information should be used solely as a base for your own trade development and not as the gospel. Because of the few things mentioned above, and many other personal traits that individual traders bring to the trading experience, there are no "futures gurus" that can tell you exactly how to trade day to day.

So you have to decide for yourself what is most important being told how to trade or discovering how to trade for yourself. That's what this book, my books, and many other books can realistically do for you.

Good luck and God's speed.

As a graduate of the Ken Roberts course, I have a basic understanding of how the markets work. I have found that those who stick to the basics are the successful traders. Larry illustrates and explains the basics in this book. Premiums, Open Interest, and %R can be worth the purchase price if you put them to work for you. If you don't want to spend the $200 on Larry's course, this is a fairly good alternative.

I am a commodity trader. i have probably read just about every book ever written on the subject and have even made money using the techniques illustra ted in a few of them. Williams' book is one them. I would if i could cut the book in half and keep the first 70 or so pages and toss the rest onto my ever growing scrapheap of commodity trading books. If you can get past the chapters on lunar cycle correlations and focus in on his study of open interest and trading ranges you will have

gained an "edge">despite the age of the book(1974) I feel it has something valuable to offer trader at all levels. good reading and good luck!

The simplest stuff that works. This manual includes methods for trading the trend. Furthermore, it shows how to use fundamental data that is freely available to the small trader. That data is spread data, open interest data and committment of traders data. In addition to good fundamental information, the manual has technical trading methods and money management guidelines. Highly recommended

This book is one of the best books written on trading. I bought this book years ago and the things I learned then I am still using today. And now that we are in a bull market for commodities I think anyone reading this book will be able to put the lessons in this book to some good use. The book is easy to read and shows some charts and graphs so anyone can follow along and understand. Commercials and Open Interest are two very big factors in picking successful low risk entry points and this book tells you how to use them. Larry Williams is a trading pro and I have read most of his books. Most are good but this one I think is the best. It is not for system traders but more for trend followers or discretionary traders. The other thing it doesn't take a computer to trade this stuff, although I would recomend it. It is subjective but it does work. There are no tests that show you what percentage of trades will work because this is more of an intuitive type of trade that can be learned and applied with accuracy. This will teach you the setups to help you find the big moves before they happen.

Larry Williams is not a trader, he is a promoter. Does Paul Tudor Jones sell "how to trade" courses? No, he is busy making money. Do any great traders sell courses or send mass mailings? Methinks not. This book like all Larry Williams books smack of ignorance about the reality of what works and does not work in the marketplace. I am a winning trader and I can assure you that 95% of what you read will not be worth your time. I am doubtful that this review will even be published but if it is I will be happy if just one person benefits from it.

Larry still teaches most of this material at his current seminars. He has refined the technique a bit and added a couple of new technical indicators, but his fundamental approach is the same. His "million dollar tools" are extremely useful for position trading and anyone who has the patience and discipline to take a little time and test the relationships outlined in this book should prosper. The relationships discussed in his book have stood the test of time and are among the most consistently profitable to this day.

A lot of the books on the bookshelves don't belong there-- some belong in your homes others the trash. This one is really bad. Larry Williams is a direct marketer not a trader. If you want to learn how to trade read Market Wizards, or Trade Your way to Financial Freedom, or how I made two million in the stock market-by Krubel which tells how he first lost money very badly and learned from his mistakes. Larry is a gambler, not a trader. DON'T BUY THIS BOOK

The book is lot more than a technical... It shows you how you can understand the fundamental structure of the market by reading chart. It emphasize on the fact that it is institutional trading activities which drive the market so you should have an idea about what commercial are doing......the book contain objective rules which is possible to apply easily in the market with little effort.....

Great book, I loving it....