Day Trade Futures Online (Wiley Online Trading for a Living) (Hardcover)

by Larry Williams (Author) "Computers have become a necessary tool for every trader..." (more)
Key Phrases: greatest swing value, largest losing trade, consecutive losers, Calc Dates, Value Comm Slippage Margin Format Drive, Genesis Financial Data Services (more...)

Editorial Reviews

Review
"Larry Williams, the astute and experienced trader, has presented the reader with many computer-tested patterns that should give one an edge up in the hard world of day trading. He not only gives the patterns, he explains the 'why' of market action and what it takes to be successful from a psychological and money management standpoint. This is one of the best practical books ever written on trading by a veteran trader. Buy it."-John Hill, President, Futures Truth Co. "Larry possesses an incredible talent to differentiate between what is important in life as well as in the markets. In his book, he shares insights into market behavior and short-term price dynamics that are useful to beginning and experienced traders alike. Whereas most day trading books merely discuss the market in generalities, Larry focuses on computer-tested techniques that can actually help make traders profitable. This is Larry at his best and finest!"-Tom DeMark, President, Market Studies Inc., author of New Science of Technical Analysis and New Market Timing Techniques "Day Trade Futures Online is another must-have Larry Williams trading book. That's because nearly all the profitable futures traders I've known have attributed their trading success to an idea or concept learned from Larry. When Larry speaks, you better listen."-Gary Smith, author of How I Trade for a Living

Product Description
Wiley Online Trading for a Living
When to get in-when to get out
Build, test & trade a winning system
Online brokers, research & market data

For those who are well suited to day trading and short-term trading, the futures market is one of the best games in town. As the original short-term vehicle, the futures market allows the trader to collapse the time frame in which he or she can reach the desired profit target-or pain threshold. As a result, wins and losses are compounded much more quickly than in stock trading-and, in the case of wins, often more profitably. The ability to gain leverage with very little on margin gives you, the trader, the ability to earn more off smaller swings. And enough home runs could allow you to become your own boss, work from home in your bathrobe, or even work from your cell phone while lying on the beach. So far, so good. But what does it take to win?

In Day Trade Futures Online, award-winning veteran futures trader Larry Williams gives a no-holds-barred view of the risks and rewards of this increasingly accessible arena. His straightforward approach to helping you determine your trading personality is the first step. Then he offers traders what they really need: strategies and tactics designed to beat the futures markets. From hardware and software setup to trading psychology and successful strategizing, this highly readable book covers all the bases needed to prepare you to trade online, including:
* Assessing your risk threshold
* Streamlining the glut of trading and price information to make it work for you
* The importance of knowing how to manage your money
* Choosing an online broker and utilizing other online resources, such as news, chat rooms, and message boards
* When to get out of your trades
* Building a system based on Larry's time-tested strategies

. . . and that's just for starters. Also included are an appendix of basic futures concepts and a select bibliography of some of the best learning resources. With good humor and brutal honesty, Williams guides you in building the trading system that will work best for you.

GET IN ON THE ORIGINAL SHORT-TERM GAME WITH BIG-TIME PROFITS

With unflinching honesty and decades of trading experience, award-winning veteran futures trader Larry Williams lends his expertise to the many aspects of futures trading online, including:
* Winning strategies
* Determining your trading personality
* The art of using the Internet
* Hardware and software solutions
* History and development of short-term trading

Praise for Larry Williams and day trade futures online

"Larry Williams, the astute and experienced trader, has presented the reader with many computer-tested patterns that should give one an edge up in the hard world of day trading. He not only gives the patterns, he explains the 'why' of market action and what it takes to be successful from a psychological and money management standpoint. This is one of the best practical books ever written on trading by a veteran trader. Buy it."-John Hill, President, Futures Truth Co.

"Larry possesses an incredible talent to differentiate between what is important in life as well as in the markets. In his book, he shares insights into market behavior and short-term price dynamics that are useful to beginning and experienced traders alike. Whereas most day trading books merely discuss the market in generalities, Larry focuses on computer-tested techniques that can actually help make traders profitable. This is Larry at his best and finest!"-Tom DeMark, President, Market Studies Inc., author of New Science of Technical Analysis and New Market Timing Techniques

"Day Trade Futures Online is another must-have Larry Williams trading book. That's because nearly all the profitable futures traders I've known have attributed their trading success to an idea or concept learned from Larry. When Larry speaks, you better listen."-Gary Smith, author of How I Trade for a Living

See all Editorial Reviews

Product Details

• Hardcover: 240 pages
• Publisher: Wiley (May 29, 2000)
• Language: English
• ISBN-10: 0471383392
• ISBN-13: 978-0471383390
• Product Dimensions: 9.1 x 6.1 x 0.8 inches
• Shipping Weight: 1 pounds (View shipping rates and policies)
• Average Customer Review: 3.5 out of 5 stars See all reviews (19 customer reviews)
• Amazon.com Sales Rank: #260,269 in Books (See Bestsellers in Books)

Customer Reviews

Most Helpful Customer Reviews

95 of 95 people found the following review helpful:

3.0 out of 5 stars Warning: This Could Be Dangerous To Your Wealth, October 30, 2002

By	Michael Coffin (Paso Robles, CA USA) - See all my reviews (REAL NAME)

I enjoyed parts one and three of Mr. Williams book, which is why I give it 3 stars, but found much of the material in the center section -- the real meat of this book -- of dubious value. In the hands of an enthusiastic and overly trusting beginner, this book could lead to mass wealth destruction.

I programmed and tested many of the patterns Mr. Williams promoted but could not duplicate the results he claims to have achieved, even though I used the same time periods, same timeframes and same system parameters he indicated. Also, many of the patterns that are put forth as generating > 80% profitable trades are heavily optimized and filtered for the purpose of presentation in this book. Using TradeStation for back-testing, I could not get even one of the recommended patterns to perform above 20% efficiency.

My goal in writing this review is not to criticize Mr. Williams but rather to warn budding traders that reliance on such convincing, well-told material as this can get you into a lot of trouble. With all due respect to Mr. Williams and his heavily advertised record as a trader and systems developer, let us all understand that he has built a substantial business around training others to trade. I suspect that the bulk of his income is generated from book sales, seminars and other paid programming that he delivers each year -- and not from the full-time implementation of the trading approaches put forth in this book. Again, I'm not bashing Mr. Williams but rather am sending up the warning flag to those who read this book.

To end this on a positive note, I found Mr. Williams's advice on entry and exit strategy to be useful, especially using a percentage of the current bar's range added to the next bar as a trade entry point following a verified set-up. His thoughts on money management strategy are also sound. Thanks for letting me share my thoughts here and good trading to all!

10 of 11 people found the following review helpful:

1.0 out of 5 stars Shame , November 8, 2005

By	Ctrader - See all my reviews

I do not know why he decided to recycle his "Long Term Secrets to Short Term Trading" book. He is selling the same old stuff in a new book cover with a different name. Even the examples and the explanations of his setups are word to word the same. Nothing new at all. Shame on the publisher and shame on him too, for their disrespectable act. No need to buy the book.

6 of 6 people found the following review helpful:

2.0 out of 5 stars Recycled material with plenty of filler, December 16, 2002

By	Jason C Mann (Toronto, Ontario Canada) - See all my reviews

Yikes - who edited this thing? While there are a few gems, I felt like I was reading a book with half the pages missing. Clearly, material is taken from his other books and recycled for this one, but he might have checked to make sure that all the referenced graphs and text were actually in the book! Numerous times I was flipping around to try to find a chart he was talking about, only to find that it wasn't anywhere in the book. You get the impression quickly that this was churned out to scrape in some extra dough. Larry's writing style is "conversational" - and that's a charitable way to describe it. Despite all these flaws, there is some good info, and some good trading ideas, but I can't recommend it.