A Father-Daughter Team: Bill Williams & Justine Williams-Lara by J. “Jay” Norris
Bill M. Williams (BW), a former psychotherapist and founder of the
Profitunity Trading Group, has more than 49 years of trading experience.
Besides coaching traders in private tutorials, his three bestselling
books — Trading Chaos, New Trading Dimensions, and
Trading Chaos: Second Edition — have contributed to furthering his
unique trading concepts. He is also well known on the speaker circuit,
with a loyal following of high-level traders. He has taught seminars
throughout Europe, Asia, and the US on subjects including the fractal
of the Elliott wave, the money flow index, the “Wise Men,” and the
His daughter, Justine Williams-Lara (JWL), is the president of the
Profitunity Trading Group. She has been actively trading for 14 years
in both the stock and commodity markets. She too has trained traders
in the Profitunity methodology and teaches private tutorial classes in
her office in California. Trading is her life, she says, and teaching
others to trade for their freedom is what makes her continue her
John “Jay” Norris (JN), senior market strategist at Brewer Futures
Group, interviewed the Williamses in person on February 23, 2008, in
Can you tell us how you did
last year trading?
BW: Last year was our
best year ever. I’ve been trading now for a half century, and the year
before last was our best up until that
point, and last year was better than that.
I trade only stocks now, but most of my
career I’d been trading commodities.
[Earlier, Williams explained how he
has substituted many of the commodity
markets with ETFs in the stock market.
Last year, we had several different
accounts, and one account was up over
100%. [This account is his everyday
account from which he takes the profits
once a month and buys physical gold
and interest-bearing gold certificates.]
The big account was up over 40%. We
started something a couple of years
ago because I believe one of the things
that hurts people’s trading is that they
get in and out too much, too quickly.
So I am a trend trader and like to stay in
the market as long as possible. I made
the decision two years ago that on January 1, I would put on a trade and would
not get out of it come hell or high water
until the end of the year, and that one
trade was up 40% that year, and then up
50% the year before, so by our standards
we’ve done quite well.
I know you’re quite an experienced
trader and know a bit about commodities.
Was there any one trade or campaign
over the last few years that stands
out for you?
BW: Yes. There have been quite a
few. Here we are at the beginning of
2008 and the dollar is going down real
fast and anything that is measured by
the dollar is getting more expensive,
whether it’s wheat or gold or currencies.
If you look at gold, for example, it
has gone up tremendously in dollars.
But if you look at gold in some of the
foreign currencies, the chart doesn’t look
nearly as bullish as it does in dollars. So
what we’re really talking about — and
as we speak, we are in a housing slump
— is most people were thinking they
were making money on their houses and now they are finding out they weren’t
making that much money, and the underlying
structure of this market is that
the dollar is going down, so anything
valued in dollars is going to be more
So it’s safe to say you’re a trend trader?
BW: Absolutely. We’ve been teaching
people to trade for decades now, and
one of the things that almost 100% of all
new traders do is they get in and out too
often. We’ve had our best success where
we’ve analyzed the market, tried to figure
out what the long-term trend is and
get in and stay in for a while, so yes I am
definitely a trend trader. Now, one of
the ways we get into a trade is if we see
that a trend has overextended itself. We
have what we call a bullish/bearish divergent
bar or period where we have
indicators that show us that the market
has gone up too fast, so we know how to
counter–trend trade that market. Often,
our first entry into a market is with this