Long-Term Secrets to Short-Term Trading (Larry Williams, 1999)

The importance of the open to low or high of the day

1. Don't try to buy big dips below the open on expected up close days. 
2. If long and prices fall much below the open on expected big up close days, "get out." 
3. Don't try to sell big rallies above the opening on expected large down days. 
4. If short and prices rally much above opening on expected large down days, "get out."

Trend is your friend

1. Most all market highs can be found to occur at or shortly after a market closes right on the high of the day. 
2. Most all market lows can be found at or shortly after a market closes right on the low of the day.

Secret to short term trading

1. We only make money on large-range days. 
2. Large-range days usually close at or near the high, if an up day, the low if a down day.
3. What this all means to short-term traders is that, to catch a winning trade, the most profitable strategy is to hold to the close.

The truth

• Losers of any game typically lament that either the game was rigged. or it is one no one can beat; thus, their failure is excusable.
• The market is not a coin flip.

Swing point

Short-term indicator

• Will Spread