Larry Williams
Every person striving for a goal needs a role model.
Whether it's sports or business, only examples of truly successful people motivate us to move forward.
The Forex market and stock trading are no exception, so its history has included both role models and truly tragic stories that have ruined the lives of successful people.
However, many of us, having suffered setbacks, begin to give up and desperately think that only the lucky ones make money on the stock exchange, that our status and the fact that we are not from a wealthy family prevent us from moving forward, that we do not have the information that famous traders have.
All this is nonsense and excuses, and the story of Larry Williams is proof 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 witnessed the hard work his family had to put in to earn money, so while still in school, he began working part-time with his father at the refinery.
Faced with the harsh reality, Larry decided to attend college, and after graduating, he enrolled in university and earned a journalism degree. Wilson himself wasn't the ideal person he's portrayed as. He personally describes his gambling addiction and reluctantly admits that to make a living, he forged driver's licenses, which he sold for $5.
However, these are nothing more than childhood mistakes, which Larry is reluctant to recall. After graduating from college in 1966, Williams took a job as a proofreader at an advertising agency in New York City. After three months there, he realized that this type of work wasn't satisfying and that he needed to strive for something more.
After being fired, Larry William returned to his home state of Oregon, where he and his partner opened the economically and politically oriented newspaper Oregon Report.
Larry was constantly exposed to economic news and events, but he discovered the stock market quite by chance. One day, he saw a news story about a new company's shares rising a couple of points, and he asked a friend what that meant.
His partner didn't go into detail, but simply said, "If you had bought these shares yesterday, you would have made $250 today." This statement turned his world upside down, as Larry's determination couldn't ignore such a clear opportunity to earn large sums of money, since none of his acquaintances could boast such earnings.
From that time on, William began actively studying all kinds of stock market literature on technical analysis, capital management, and various trading approaches. Understanding that theoretical knowledge without practical application would be ineffective in achieving real success, he began actively visiting various brokerage firms , observing real traders, and taking various practical courses. Even now, when conducting his seminars, he shares one instructive phrase: "Those who know the most, earn the most."
Having gained experience, Williams began trying his hand at stock trading, but success eluded him. By chance, an experienced trader, familiar with his style, suggested he try futures trading. Larry took his advice and, by the age of 1970, had amassed a fortune of $1 million.
However, his fame came not after this success, but after he took first place in the world futures trading competition in the Robinson Cup, where he managed to increase his capital from 10 thousand dollars to 1 million 147 thousand dollars in one year, and his percentage increase was 11376 percent.
This is an absolute world record that remains unbroken to this day. Incidentally, the only trader to come close to his achievement was his daughter, Michelle Williams, who managed to increase her capital by 1,100 percent in one year.
Larry never rested on his laurels, becoming an excellent coach and mentor for thousands of traders, and his books have become a guide for every aspiring trader. Today, he's a multi-billionaire, and his signature phrase, "Cut your losses and don't limit your profits," has become a tenet of every successful trader.
