coments on david landry trading style

Quote from shorty_mcshort:

Dave,

Just wondering if you keep a journal of your trades? It would seem that once a trader has his plan of action and money mgt. down pat and all that is left is to execute the plan that a journal would be a good way to improve upon or find flaws in the plan. Alexander Elder goes over how to keep a trading journal in his new book and I have read in other places on the net that a keeping a journal can be a real eye opener for traders.

Since I really don't trade that much I started to print out all of my trades from entry to exit.

Thanks

Eric Wagner
More...

Yes, I don't get very fancy though. I take a lot of notes in a notebook. I record the trade, my thinking at the time, the market action/sector action....occasionally some personal things like any distractions that may be going on in my life.

Although I haven't used it very much, TCNet has a "notes" feature and will also keep whatever drawing you do on the charts.

I often notice when flipping through charts older analysis that I was doing.

I probably should use this feature more.

Dave
 
Hey thanks for the reply Dave.

I have another question for you. Since you are a swing trader who looks for a strong trend first. Do you have a way to filter out stocks that are just too extended? Or do you like them to be extended? I like to trade stocks with strong trends but are close to their 13 or 20 ema by measuring the % difference from the high to the ema and the low to the ema. If these two numbers added together are more than a certain % then I pass on the trade because of it being too far away. (I trade pullbacks just like you)

Thanks
Eric
 
Quote from shorty_mcshort:

Hey thanks for the reply Dave.

I have another question for you. Since you are a swing trader who looks for a strong trend first. Do you have a way to filter out stocks that are just too extended? Or do you like them to be extended? I like to trade stocks with strong trends but are close to their 13 or 20 ema by measuring the % difference from the high to the ema and the low to the ema. If these two numbers added together are more than a certain % then I pass on the trade because of it being too far away. (I trade pullbacks just like you)

Thanks
Eric
More...

Hello Eric,

I do trade stocks that are beginning to stretch away. I like the acceleration in momentum. In fact, I have a strategy that essentially looks for a longer-term more gradual uptrend THEN an acceleration of that uptrend. You then look to enter on the first pullback/TKO. Shoot me an email at dave@davelandry.com and I'll give you some slides/report on the strategy. You DO have to make sure you use proper money management (like any other pattern) just in case you are buying into a market in which the move has exhausted itself.

Dave
 
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