coments on david landry trading style

Hi Dave,

How have your techniques worked during the past bear market?

Have you been making money?

I bought your book a couple/few years ago, and tried your method, but didn't find success with them. I suspect it's more because of me, than the method, but I thought I'd check to see how you've been doing with them.

Thanks.

-- ITZ
 
One trading mistake mistake costs far more than a book.

Besides, you can resell the book used on Half.com or Ebay and it will cost you little in the end.

I happened to follow Landry's calls on their web site and he was remarkably in tune with whatever the marlket was doing between 2000 and 2002 (mainly bearish).

People who can maintain perspective in this business are rare. So I respect Mr. Landry for staying true to the market.
 
"You can also beat the system by taking profits shy of the 1 for 1 in poor market conditions (e.g. when things are reversing)"

Please, more detail.
 
Hello David,

Very nice to see you posting here!!

I'm strictly and EOD trader and your material/teachings were very insightful for me. I stole tons of your material at the TM site. (For those with an interest, TM has/used to have a free two-week trial, and you can find many many Landry articles free for the downloading.)

Here are a few of the files I have: ADX, Bow Ties, Momentum, Money Management, Moving Averages, Nightly Work, Stock selection, Trend Knockout, and on and on. In each file are from one to 7 or 8 of Dave's outstanding articles, that include charts.

Dave, I did backtest the bow ties and knockout in TC Companion and I do better with a more pronounced pullback (two lower lows and buy on the pivot) but did obtain many great ideas from you, especially relative to trend and money management.

I never said "Thanks" so ..... "Thanks for some great stuff at TM"

Chuck
 
Quote from gms:

"You can also beat the system by taking profits shy of the 1 for 1 in poor market conditions (e.g. when things are reversing)"

Please, more detail.
More...

let's say you are long a stock at 40 and your initial goal is 42. You come in on a day like today (07/24/2003) and your stock is rallying.....it rallies up to 41.95....not quite your profit target but close...then you see the S&P (and other indices) start to peter out........and the sector of your stock begins to slide too.......at this point, you might consider taking your profits even though, technically, you don't have your 1 for 1.........

I can parse out some slides for you on this if interested....

One more thought:
When things are choppy (e.g. now) you sometimes want to take profits a little early....when things improve, you can let them ride a bit.

Dave
 
Quote from Lovelitera:

I happened to follow Landry's calls on their web site and he was remarkably in tune with whatever the marlket was doing between 2000 and 2002 (mainly bearish).
More...

LL,

Did you quantify Landry's calls in terms of P&L? If so, what kind of results did you find?

Thanks.

-- ITZ
 
What is everyone scared of? Thanks but we don't need you to protect us. Let him put some ideas out there, then let each individual decide if they're any good by backtesting, looking at charts, evaluating past experience. Even a bad idea slightly modified can lead to a good system. This board badly needs idea people. I say let him talk a little about trading and quit worrying about the price of his book or how much he can bench or his brand of toothpaste. If his ideas aren't good, give us all some credit to filter the good from the bad and see strengths/weaknesses.
 
ShoeShine Boy makes some good points.

LL -- No need to reply to my P&L question. It's not all important in the scheme of things.

Dave -- Thanks for your postings. I look forward to your next posting.
 
Quote from ShoeshineBoy:

What is everyone scared of? Thanks but we don't need you to protect us. Let him put some ideas out there, then let each individual decide if they're any good by backtesting, looking at charts, evaluating past experience. Even a bad idea slightly modified can lead to a good system. This board badly needs idea people. I say let him talk a little about trading and quit worrying about the price of his book or how much he can bench or his brand of toothpaste. If his ideas aren't good, give us all some credit to filter the good from the bad and see strengths/weaknesses.
More...

Thank you shoeshineboy.

Now that you've cleared the way for ideas, one idea that I've been working with for quite a while is "persistency"--the ability of a stock to follow through from one day to the next. This can be quantified with linear regression. However, many of you know that I like to keep things simple. Therefore, I simply draw a trend line THRU as many bars as possible and then look to enter on the next setup (e.g. Pullback)...I have found that TKOs that follow persistent moves tend to work well. Ideally, I like to see a chart where I can draw a trendline thru at least 20 bars (fewer during accelerating trends, but these situations really come under other patterns that I follow...e.g. Accelerating Momentum Strategy).

Study the homebuliders back in april/may and you should see the patterns.

I'm working on ways to quantify it further (essentially the rules that I follow). I should have this completed over the next few weeks.
Dave
 
Are you talking OHB? A few questions for you: how do you protect yourself from buying right at a mkt turn? are you looking for volume cuzz volume seems to have less relevance with the ETFs, don't you think? Are you watching any of the major indexes while you're doing this? What I'm getting at is IVV broke down (somewhat at least) after 25 bars in the same time period: what do you think makes the difference? (Or is money mgt the key?)
 
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