The Definitive Guide to Futures Trading by Larry Williams: A Masterclass in Market Mechanics
Unlike traders who wait indefinitely for a target to hit, Williams often utilizes time-based stops. If a trade does not move in the anticipated direction within a set number of bars, the edge is gone, and the position is liquidated. 3. Core Indicators and Technical Tools
: Use the Commitment of Traders (COT) report to track what large "smart money" commercial interests are doing.
