In the arena of technical analysis, it’s hard to imagine not ever having heard about Larry Williams, well known as trader, author, newletter editor and money manager. Think of it — virtually every technical-based software has some of his
technical indicators. Despite all that, surprisingly, Williams is not as fond of technical analysis as you might expect. Why? We found out the answer when STOCKS & COMMODITIES Editor Thom Hartle spoke to Williams via phone on April 23, 1997, discussing Williams’s views on technical analysis, money management and other topics.
When did you first start trading? In 1962 I started fol-lowing the stock market while I was attending the University of Oregon. I still remember how someone pointed out to me that one of the most active stocks had gone up two and a half
points for the day. I asked, “What does that mean?” and whoever it was replied, “You would have made $250 today!”
Wow! Back in the 1960s, that was a lot of money. I said, “Man, this beats work!” And ironically, I’ve been working at it ever since! When did you move from stocks to commodities?
I traded stocks from 1966 to about 1970. In 1970, an old trader showed me how commodities worked. He had noticed
that I had done pretty well trading stocks, and he told me I ought to try trading commodities. At that point in my life, I still believed in technical analysis, so I thought my methods
would work in the commodities markets as well.