Long-Term Secrets to Short-Term Trading

Hugely popular market guru updates his popular trading strategy for a post-crisis world From Larry Williams one of the most popular and respected technical analysts of the past four decades Long-Term Secrets to Short-Term Trading, Second Edition provides the blueprint necessary for sound and profitable short-term trading in a post-market meltdown economy. In this updated edition of the evergreen trading book, Williams shares his years of experience as a highly successful short-term trader, while highlighting the advantages and disadvantages of what can be a very fruitful yet potentially dangerous endeavor. Offers market wisdom on a wide range of topics, including chaos, speculation, volatility breakouts, and profit patterns Explains fundamentals such as how the market moves, the three most dominant cycles, when to exit a trade, and how to hold on to winners Includes in-depth analysis of the most effective short-term trading strategies, as well as the authors winning technical indicators Short-term trading offers tremendous upside. At the same time, the practice is also extremely risky. Minimize your risk and maximize your opportunities for success with Larry Williamss Long-Term Secrets to Short-Term Trading, Second Edition.

Larry R. Williams has been trading for almost fifty years and is one of the most highly regarded short-term traders in the world. Larry has taught thousands to trade, won several trading championships, and since 1970 has been writing bestselling books based on his technical indicator, Williams %R, developed in 1966 and still published daily in major financial newspapers and on finance and investing sites. Between trading, researching, and developing trading tools, he ran twice for the U.S. Senate, was a board member of the National Futures Association, and has received numerous awards, including Futures magazine's first Doctor of Futures Award, the Omega Research Lifetime Achievement Award, and Traders International 2005 Trader of the Year. The Mayor of San Diego declared October 6th, 2002 "Larry Williams' Day." Larry has been featured on CNBC and Fox News, and has been interviewed and quoted in more publications than he can keep track of.</p

Acknowledgments	p. xi
INTRODUCTION You Are Already a Commodity Trader	p. 1
My Most Important Market Belief	p. 4
The Beginning of My Career as a Speculator	p. 5
The Ride of a Lifetime	p. 8
Making Order Out of Short-Term Chaos	p. 9
How I Learned about the Market	p. 9
Charting the Market	p. 11
The Nonrandom Market	p. 13
Understanding Market Structure	p. 15
Market Structure Will Never Change	p. 21
Short-Sell Pattern	p. 27
Target Time and Trailing Stops	p. 28
Recap	p. 32
ItâÇÖs a Question of Price and Time	p. 33
All You Will Ever Need to Know about Cycles	p. 33
The Natural Cycle of Range Change	p. 39
Where the Trend Is with You—The Second Power-Play Price Pattern	p. 50
Recap	p. 54
The Real Secret to Short-Term Trading	p. 59
ItâÇÖs All about Time	p. 61
Bankrolling Hotshot Traders	p. 62
Proving the Point	p. 65
How to Make the Most Money	p. 68
Recap	p. 70
Volatility Breakouts—The Momentum Breakthrough	p. 71
Simple Daily Range Breakouts	p. 76
A Look at Volatility in the S&P 500	p. 80
Separating Buyers from Sellers to Find Volatility Using Market Swings	p. 95
Results	p. 96
One Step Further	p. 97
Recap	p. 98
The Theory of Short-Term Trading	p. 99
What Is Wrong about the Information Age	p. 103
E. H. HarrimanâÇÖs Rule of Making Millions	p. 104
Recap	p. 105
Getting Closer to the Truth	p. 107
The Market Is Not a Coin Flip: Random Walk or Cootner versus Cohen (Cohen Wins)	p. 108
Gold TDOM Study	p. 117
Bond TDOM Study	p. 118
Monthly Road Maps	p. 120
Recap	p. 123
Patterns to Profit	p. 125
The Common Element	p. 126
The Questions to Ask	p. 131
My Smash Day Patterns	p. 132
How to Use Smash Day Patterns	p. 136
SpecialistsâÇÖ Trap	p. 137
A Vital Note—This Works on Shorter Time Frames as Well	p. 141
Oops! This Is Not a Mistake	p. 145
S&P Oops! Trading	p. 151
Recap	p. 152
Separating the Buyers from the Sellers	p. 153
Greatest Swing Value	p. 155
Stock Index Trading with Greatest Swing Value	p. 156
Some Pointers	p. 160
Recap	p. 161
Short-Term Trading from a Quote Screen	p. 163
How a Quote-Screen Trader Makes Money	p. 165
Swing Points as Trend Change Indication	p. 166
The Three-Bar High/Low System	p. 167
A New Indicator for Short-Term Traders: Willspread	p. 170
Willspread and the S&P 500 Stock Index	p. 174
Recap	p. 180
Special Short-Term Situations	p. 181
Month-End Trading in Stock Indexes	p. 181
Target Months	p. 184
Making It Better	p. 184
Month-End Trading in the Bond Market	p. 186
Getting Specific	p. 187
Better and Better	p. 188
A Time to Sell	p. 191
Recap	p. 193
When to Get Out of Your Trades	p. 195
Thoughts on the Business of Speculation	p. 197
Exits before Entries	p. 197
What Speculation Is All About	p. 200
ItâÇÖs about Time	p. 201
Essential Points about Speculation	p. 202
Recap	p. 215
Money Management—The Keys to the Kingdom	p. 217
Most Traders Use a Hit-and-Miss Approach	p. 218
Approaches to Money Management—One Is Right for You	p. 218
The Good, the Bad, and the Ugly of Money Management	p. 219
Looking in New Directions, Drawdown as an Asset	p. 222
Back to Ralph: 2011 Money Management Breakthrough	p. 228
The Kelly Ratio Mirage	p. 229
Recap	p. 233
From Kennedy to Obama, Thoughts from 50 Years of Trading	p. 235
Trading and Collecting Honey	p. 236
Low-Hanging Fruit	p. 237
Look before You Leap	p. 238
Remember the Game Called Pick Up Sticks	p. 238
And It Can Get Worse by Far. . .	p. 239
Lock-Up Time	p. 240
Enough on Greed . . .Now LetâÇÖs Deal with Fear	p. 241
Running, Trading, and Losing	p. 242
Doing the Wrong Thing . . . ItâÇÖs So Easy, IsnâÇÖt It?	p. 242
ItâÇÖs Not the Trade, ItâÇÖs the Battle	p. 243
The Art of Fly-Fishing Revisited	p. 244
Fear and Greed, Looking Them in the Face Again	p. 245
Why Most Traders Lose Most of the Time	p. 246
A Review of Losing Trades Showed That	p. 247
The Number One Reason We Lose Money Trading	p. 247
The Most Important Trading Belief You Have	p. 248
The Worst Dog I Ever Had Cost Me the Most	p. 249
Athletics Are Such a Parallel to Trading	p. 251
What Causes Stock and Commodity Market Trends	p. 251
How to Measure the Public versus the Pros	p. 253
Folks, It Just CanâÇÖt Be Done	p. 254
The Rush of Trading	p. 255
Beating Them to the Punch	p. 257
ItâÇÖs Just Over My Head	p. 259
I Looked Fear and Greed in the Face	p. 259
The ShowMust Go On	p. 260
Broken Noses, Cauliflower Ears, and Bad Trades	p. 261
Learning How to Lose Money	p. 262
Hillary, High Hopes, and Heartaches	p. 263
Nervous Nellies—Heaven Bound	p. 264
Secrets of System Developing and Trading	p. 265
The Difference between Winners and Losers	p. 266
Recap	p. 268
Just What Does Make the Stock Market Rally?	p. 269
Logic 101	p. 270
These Words Are My Bond	p. 270
A Look at Data A and Data B	p. 270
LetâÇÖs Break Some Bad Habits	p. 273
How to Break Bad Habits	p. 273
Comments on Setting Stops—Dollar Loss and Unpredictability	p. 275
An Overview of How I Trade	p. 278
My Trading Strategy . . .How It Works	p. 282
Recap	p. 285
Hard Facts about a Very Hard Game to Win	p. 287
It Is Just Like Life	p. 289
Maybe You Are Not Cut Out for This . . .	p. 292
You Are in a Tough Spot . . .	p. 293
But ThereâÇÖs a Little Bit More. . .	p. 294
In Closing	p. 295
Index	p. 297
Table of Contents provided by Publisher. All Rights Reserved.

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Long-Term Secrets to Short-Term Trading

Summary

Author Biography

Table of Contents

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