Description of How I Made $1 Million Last Year Trading Commodities
If you thought the commodity market was just another Las Vegas, take heart! Larry Williams is about to show you how anyone of reasonable intelligence can consistently beat the market, year in year out.
You'll see all the tools he uses to ferret out the super trades that lead to gains of well over 1000%. Williams' basic theory is that future price direction is pretty well known by the large commercial users, producers and consumers. These are the people that must have commodities to stay in business.
The secret to commodities, in the author's opinion, is tracking these billion dollar super powers. Williams uses several methods to find out what commodities they are most bullish or most bearish on. His technique is further refined with a unique technical trading system to time your entry and exits from the sure-thing trades his system isolates.
In addition to learning Williams' methods, you'll also learn how he thinks and what it takes to become a winner, psychologically speaking. If you are a commodity trader, this book is an absolute must; if you're a stock trader the book will expose you to an exciting new approach to trading and thinking.
Contents of How I Made $1 Million Last Year Trading Commodities
1.
- Exactly how I made my million dollars
- How dreams come true
- Lady Luck - does she exist?
- What I would do differently
- The rate race and commodity trading
- Random thoughts on a non-random market
- Stick to your game plan
- Relax your way to easy street
2.
- My key ingredients to market success
- How winners end up losers
- How to manage money and eliminate margin calls
- The 30$ stop rule
- How to know when you are over-extended
- My unique pyramid system that almost guarantees profits
- How a square can be a pyramid
- How to stop points
- How to know the number of contracts to buy
- How to win even when you are losing
- Putting it all together
3.
- My frank advice for beginners
- The important difference between stocks and commodities
- Terms you must know
- A word about the Wall Street Journal
- How to select the best broker
- The smart money way to select a brokerage firm
- My list of superior advisory services
4.
- My million dollar fundamental system
- Fundamentals: why they are important
- Two definitions that are important
- A sampling of fundamental tools
- My million dollar tools
- My first smart money tool
- My second smart money tool
- My third smart money tool
- How to evaluate all fundamental news
- What to do once you have made your fundamental decision
5.
- How to find trades with 10/1 odds
- Spotting the best trades
- The first indication of a million dollar trade
- Your second lesson on premiums
- The second indication of a million dollar trade
- Why these million dollar tools work
- Additional tools to 'clinch' your trades
- Contrary opinion
- News action
- How charts forecast
- Commitment of large traders
- How to identify chart direction
6.
- My million dollar -never-before-revealed trading tools
- A word on technical theory
- The profitability of momentum
- How fast are prices changing
- Time period important
- The markets' most important technical aspect
- How to tell when a commodity is oversold
- Timing your silver trades
- Soy bean oil and super profits
- The secret of selling short
- Identifying a setting point for beans
- How to handle trading ranges
- How to combine momentum with % R
- How to use these tools in a bear market
- How technical data can identify the fundamentals
- Ten week average - rules
- How price smoothing detects the true trend
- How to use the fundamental direction index
- A negative note
- What a 'lead-pipe-cinch' trade looks like
7.
- How I read charts
- What charts can show
- How charts detect the strongest commodity or group of commodities
- How I monitor chart action
- How charts identify turning points
- My new reversal day discovery
- The meaning of gaps
- How gaps help you get discounted prices
8.
- The great silver secret
- My best line
- The buy signal
- The sell signals
- Special hints on the use of this unique method
9.
- How transactional analysis helped me make my million dollars
- Commodity winners: what they have in common
- Identifying a few market 'games'
- The 'dumb broker' game
- The 'dumb client' game
- The 'help me - I'm just a poor country boy' game
- The 'let me rest' game
- Why I like losers
- How to become a winner
10.
- My priceless trading hints
- How to profit from the morning bulge
- How to spot commodity cycles
- When to buy at the opening
- When to use market orders
- How a very small trader can 'test' the market
- The secret of three
- The five day major move signal
- What are the odds for an advance this month?
- More information on the commercials
- Where to place stops
- Time stops
- How to use mental stops
- A final comment on open interest
- How to forecast tomorrow's high and low
- My pivot price formula
- How to identify the exact high or low of a move
- The ultimate trading tip
11.
- How to start making money tomorrow morning
- What to do today
- Where most of your time should be spent
- Additional hints on using technical tools
- What to do when you have your signal
- How you will profit
- What to do when you are stopped out
- How pros handle their profits
- The most important trading advice I can give you
- When to take your profits
- When to move stops closer
- A closing statement
- Your success
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