Long-Term Secrets to Short-Term Trading (Larry Williams)

Trader's Library #34 · Trading methods and craft. A statistical look at short-term futures trading.

Author: Larry Williams · Original: Long-Term Secrets to Short-Term Trading · Year: 1999 · Usefulness for traders: ★★★★☆

What it's about

A book by the trader who won the World Cup Trading Championship in 1987. Williams describes market structure on short timeframes, volatility breakouts, seasonal patterns and money management rules in the futures market.

What it gives a trader

Williams studies the market with numbers: how often the close is above the open, what happens after a wide-range day, how individual days of the week behave. He teaches you to think about trading through statistics, not opinions.

Lessons for traders

• short-term patterns can be studied and measured
• volatility expands after quiet periods
• money management determined both his successes and his failures

What to watch out for

Some 1990s patterns have stopped working. Don't copy ready-made settings; check them with your own data (overfitting, Atlas of biases #57).

Discussion

The discussion takes place in Hetman Capital Club (in Polish). Join the discussion in the Club →

Navigation

← #033 Van Tharp: Trade Your Way to Financial Freedom, Super Trader and Safe Strategies · Library index · #035 Trend Following (Michael Covel) →

Educational content, not investment advice. The book description is my own summary and assessment, not quotations. Edition details were checked in catalogues and bookshops, and where there was doubt I said so plainly.