Larry Williams
Every person who strives for a specific goal needs an example to follow.
It doesn’t matter whether it’s sport or business, because only examples of truly successful people make us move forward.
The Forex market and stock trading are no exception, so in its history there were both role models and truly sad stories that ruined the destinies of successful people.
However, many of us, having failed, begin to give up and desperately think that only the lucky ones earn money on the stock exchange, that our status interferes with us and the fact that we are not from a rich family does not allow us to move forward, that we do not possess the information that famous people possess traders.
This is all nonsense and excuses, and the story of Larry Williams is confirmation of the above.
His father was an ordinary worker at an oil refinery, and his mother was a housewife. From a very young age, Larry saw how hard it was for his family to earn money, so while still in school, he began working part-time with his father at the factory.
Seeing the cruel reality, Larry decided to go to college, and upon graduation, he entered the institute and received a diploma in journalism. Wilson himself was not the ideal person he is portrayed to be; he personally talks about how he was fond of gambling and reluctantly says that in order to have enough to live on, he forged driver’s licenses, which he sold for $5.
However, these are nothing more than mistakes in childhood, which Lari reluctantly remembers. After graduating from the institute in 1966, Williams got a job as a proofreader at an advertising agency in New York and, after working there for 3 months, he realized that this type of activity did not suit him and he needed to strive for something more.
After Larry's dismissal, William returns to his homeland in Oregon, where he and his partner open the economically and politically oriented newspaper Oregon Report.
Larry was constantly dealing with economic news and events, but he became acquainted with the stock exchange quite by accident. One day he saw the news that the shares of a new company had risen by a couple of points and he asked his friend what this meant.
His partner did not tell all the details, but said a simple phrase: “If you had bought these shares yesterday, you would have earned $250 today.” It was this phrase that turned his world upside down, since Larry’s determination could not ignore such a clear opportunity to earn large sums of money, because none of his friends could boast of such earnings.
Since that period, William actively begins to study all kinds of stock exchange literature on technical analysis, money management and various approaches to trading. Realizing that theoretical knowledge without some practice will not help achieve real success, he begins to actively visit various brokerage companies , monitor the trading of real traders and take various practical courses. Even now, when conducting his seminars, he says one instructive phrase: “Those who know the most earn the most.”
Having gained experience, Williams began to try his hand at trading shares on the stock exchange, but success passed him by. By chance, one of the experienced traders, having become acquainted with his style, suggested that he try trading futures. Larry took his advice and, already in the 70s, amassed a fortune of $1 million.
However, fame came to him not after this success, but after he took first place in the world futures trading competition in the Robinson Cup, where in one year he managed to increase his capital from 10 thousand dollars to 1 million 147 thousand dollars, and his increase the percentage was 11376 percent.
This is an absolute world record that has not been broken to this day. By the way, the only trader who came close to his figure was his daughter Michelle Williams, who managed to make a capital gain of 1,100 percent for the year.
Larry never stopped on his laurels, so he became an excellent coach and mentor for thousands of traders, and the books he wrote became a guide for every beginning trader. Today he is a multi-billionaire, and his catchphrase “Cut your losses and don't limit your gains” has become a tenet of every successful trader.