Trading Software and Books Reviews

The Right Stock at the Right Time

Anything written by Larry Williams is worth at least a bit of a read. He is the one who wrote a book about how, in a trading competition, he made $1 million from $10,000. On the way to the million dollars he went through $2.2 million, meaning that at one stage he lost half his trading account.

Larry is an experienced professional trader who has made millions in the markets. He is a fund manager and, some think, a bit of a cowboy. I find it interesting that while many authors, in this bear market world, are writing about bear market strategies, Williams has lifted his gaze to a broader approach by drawing on his four decades of experience. The book is a course in his ideas and approaches to trading a variety of international markets. Where possible he likes to trade over longer time periods, considering various cycles, including seasonal changes.

If you are looking only at the Australian stock market, you may feel that many of his ideas are not relevant to your situation. I would suggest that they probably are relevant, once you have done some work to make them so. The real challenge is for readers to take the ideas and turn them into practices and procedures in the markets they trade.

Over the years Larry Williams has been responsible for the development of a number of indicators that are in common use and available on most software packages. Some of them are explored in the book.

The book is easy to read and the concepts easy to follow.

This article was originally published in the Sep/Oct 07 issue of YourTradingEdge magazine (www.YTEmagazine.com). All rights reserved. © Copyright 2009, MarketSource International Pty Ltd.

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