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TheLarryWilliamsInterview
IntheDecember2007issueofFuturesMagazine,wegavepeopleasmallglimpseofthe
LarryWilliamsUniversity.HereisthefullversionofaninterestingdiscussiononwhatLarryis
doingnowasaneducatorofthemarkets.
For seasoned commodity traders, Larry Williams needs little introduction.
After all, he holds the all-time record for the real money made in the largest
real time commodity trading championship (approximately 11,000%) and is
the author of nine best-selling books on the markets. He has taught more
people about the futures markets world wide than pehaps anyone else in
history. Je, a new trader from Atlanta, had some very interesting
questions. So we thought that we would share them with everyone.
Je: So Larry, youve started a University. Whats it all about?
Larry: Well, it has always been a dream of mine to have a place for people to
learn how to do what I do. Now, thanks to the Internet, people can be
anyplace in the world and take a course with me. It doesn'tt matter where I am or where they are. I can be
with them to show them what I do.
Je: But a University?
Larry: Yes, I think that is important. People think learning to become a good trader is just a one-step
approach, a one-stop solution. That simply isn't so. Theres so much to learn. I really am still learning
myself, especially with the new electronic markets. A University approach allows people to take classes in a
logical order, with continual access to course materials unlike a weekend seminar. Students can progress
to the next level at their own pace.
Je: How many students have you had and how have they done?
Larry: So far we have already had over 300 students take our new online advanced courses. This is the rst
time I have spoken in public about the University. My trademark introductory course, Cracking the Code,
teaches people the basics of commodity trading. What futures are, how they trade, the basics as well as
how to trade... tomorrow. This course was available before the University and thousands have purchased it
over the last couple years. Ill be the rst to tell you that a lot of people stop right there. Its like somebody

who buys an ab-roller and never uses it; it ends up in the garage. But about 20% of our students become
really serious about commodity trading and want to go to another level... they really want to learn more.
These are hands on people and I love to teach them.
Je: So what is the core of your teachings?
Larry: Since I think charts dont matter nearly as much as reality, my basis is that conditions drive prices not
charts. I teach students the conditions that move markets the conditions I have used to trade with over
the last 45 years. I teach them the important aspects of the Commitment of Trader Reports. COT reports
are invaluable once you know how to read them.
Je: You are the grandfather of those reports it seems. Youve been using that data since 1970 and
wrote the rst book ever on the reports, right?
Larry: Thats correct. I also show how to tell if a commodity is overvalued or undervalued and teach them
my favorite long-term set up techniques, such as the Pinch, the Paunch, and a variety of other entry
techniques. Ultimately everybody needs entry techniques it isn't enough just to know that a market is set
up for a big move, they also need to know when to get in.
Je: So you think entries are important?
Larry: Thats an interesting point. Entries are not as important as people think. By that I mean the setup of
the market. The future direction of the market is really more important than an entry. After all, if you know
a market is going to go higher you can throw darts and get aboard for the ride. So while we all need entry
techniques, the most important thing is to know the future direction of the market.
Je: You mean you can know the future direction of the market?
Larry: Well, you dont always know the direction of the market, but we do know the best bet to make on
what the direction will be. Ive found that in 45 years of trading there are certain conditions that are
synonymous with market tops and bottoms. So I can teach people what these conditions are. Then we can
look to get into phase with the market with entry techniques based on what the conditions are.
Je: Like seasonal patterns? I know you wrote the rst book on that ever in 1973!
Larry: Yes, seasonals are a good tool, but you have to be careful. They dont repeat like clockwork. So they
are suggestive, not mandatory.
Je: These conditions are not just chart reading?
Larry: Oh no. They are far from chart reading. Im talking about things that really matter in the
marketplace, like supply and demand, what the insiders are doing, and valuation of the marketplace...
along with what things are fundamental to the markets. You must remember, the markets exist for the
producers and users, not for the speculators. So we need to understand what the producers and users of a
commodity are doing. Learn that, and you can get in alignment with what these great massive powers are
doing and hopefully increase your success as a trader.

Je: How Do I become a successful trader?

Larry: I wish there was one easy answer, a silver bullet or perfect system. Despite seeing those oers 5
times a day on the internet, Im going to tell you what you probably dont want to know! Yes, many people
become successful at this, quite their jobs, retire early, lead a dream life. That does happenall the time...
But it does not happen overnight. I takes learning some the things I mentioned earlier, it takes
understanding your own emotions and getting not good--- but really great tools and techniques to work
with. Thats where I come inI think I can accelerate or jump start a traders career; hence the University
approach to make certain the foundation is in place.
Je: What should I expect a trader?
Larry: First Id say to expect the most incredible life you can imagine - if you can become successful. Theres
just nothing else like the life of a trader/investor. Expect the rst 2-3 years you will learn more than you
earn. Then earnings take o and making 60% to 100% per year (sometimes more) is a real possibility.
Never forget though this is not a straight path to heaven. Just like in any college; some students drop or
unk out, or just try to skate through without really learning. Thats reality.
Je: Is there one thing that is the most important?
Larry: There sure is. If you dont learn how to manage your account, what size of positions to take, you will
blow up and lose. No doubt in my mind about that. Its not the markets that do it to youits how you
trade them.
Je: Where do I begin?
Larry: Why not right here at the LWU?Stock Investors just have to get our Sure Thing Stock Investing
course. That will show you a very easy way to make about 20% a year on your money, investing in select
blue chip issues. This approach maximizes return with little risk. What is earning 20% a year on your
investments worth? The course is way under priced at just $399 and will be released in early December. It
is in nal production now.
Commodity Traders, I think, really should begin with our introductory course Cracking the Money Code
even if you have been trading for a year or more. I say this because you will learn new concepts, ones that
you are not using to trade with now. It is such a great value $249. You learn entry techniques, exit
techniques, and money management.
Once we get that foundation in place with Cracking the Money Code, it's time to learn more tools and go
deeper into the subject of trading. The next progression is our Sure Thing Commodity Trading course.
Think of it as if you have nished the rst level of Trading and now it's time to take Trading II. Each course
builds on the previous course. You can read what students have said about our second level course, Sure
Thing Commodity Trading, by clicking here (whatpeoplearesaying.html) and going to our testimonial page.
With those two courses under your belt then you can move onto Picture Perfect Trading. This is where you
will learn the single best Set Up I know that forecast massive market moves. This is the same pattern I use
in my annual January and mid year forecasts that have had calls people are still talking about.

Plus theres a lot more you will learn how to use the COT large trader data as well as my Commercial
Proxy Index that you can apply to any instrument that does not have a CFTC reporting requirement (CRB,
Dollar Index, Stocks, indexes in other countries etc...).
Je: That's a lot to absorb and consider. I appreciate your time and insight and look forward to
taking your courses.
Larry: I appreciate your questions because I know they will help future students understand what we are
trying to accomplish. Look, this is a profession and people need to treat it that way. You wouldn't operate
on a person without going to medical school, would you? You need to get educated in the markets to be
consistently successful and that's what we are trying to do with LWU.
Je, as I always say good luck and good trading! What it takes to succeed in this business is understanding
what makes markets move and I think I'm the guy who can best teach that to people.
Let me add, I ve been following the markets since 1962 and just cant think of a better career or way to live!

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Disclaimer
No Representation Is Being Made That Any Account Will, Or Is Likely To Achieve Prots Or Losses Similar To Those Discussed Within
This Site, Support And Texts. Our Course(S), Products And Services Should Be Used As Learning Aids. If You Decide To Invest Real
Money, All Trading Decisions Are Your Own. Our Track Record Is From Trades Given To Subscribers In Advance And Are Not
Hindsight. The Results May Have Under-Or-Over Compensated For The Impact, If Any, Of Certain Market Factors, Such As Lack Of
Liquidity. Hypothetical Or Simulated Performance Results Have Certain Limitations. Unlike An Actual Performance Record, Simulated
Results Do Not Represent Actual Trading. Simulated Trading Programs Are Subject To The Fact That They Are Designed With The
Benet Of Hindsight. The Risk Of Loss In Trading Commodities Can Be Substantial. You Should Therefore Carefully Consider Whether
Such Trading Is Suitable For You In Light Of Your Financial Condition.
CFTC RULE 4.41 - Hypothetical Or Simulated Performance Results Have Certain Limitations. Unlike An Actual Performance Record,
Simulated Results Do Not Represent Actual Trading. Also, Since The Trades Have Not Been Executed, The Results May Have UnderOr-Over Compensated For The Impact, If Any, Of Certain Market Factors, Such As Lack Of Liquidity. Simulated Trading Programs In
General Are Also Subject To The Fact That They Are Designed With The Benet Of Hindsight. No Representation Is Being Made That
Any Account Will Or Is Likely To Achieve Prot Or Losses Similar To Those Shown.