Dave Landry on Swing Trading

Rating:
Summary: Dave Landry is the Master of the Art of Swing Trading
Review: Dave Landry on Swing Trading has it ALL. Landry goes into psychology, money management, systems and setups. This book a must for ALL traders who are seeking new trading ideas and strategies that REALLY work!

Stategies like the TKO and the Bowties are among my favorites. One Bowtie trade took care of the cost of the book 100 fold!

Landry is what you call SIFU in the Asian culture, he is the Master (of swing trading) and we the readers are his students. Practice and study what the Master has taught you and you will succeed in your trading.

A must read by all...novice and professionals!

All I can say is get this book written by a true Master of the Art of Swing Trading.

Rating:
Summary: An Instant Classic!
Review: Dave Landry provides a rare commodity with his first work "Dave Landry on Swing Trading"; a book that's not only concise and to the point, but also highly practical and full of useful detail that every trader from a rank novice to a seasoned pro can benefit from.

I found Landry's approach refreshing and felt as if I was sitting over his shoulder learning how to put together the whole enchilada. Includes over a dozen time-proven set-ups, some of which appear in book form for the first time that I'm aware of, as well as critical money management schemes and clear tips for scaling out of positions to maximize profits while controlling risk.

The large charts and numbered summary accompanying each technique continue to prove invaluable for me as a accessible quick reference quide. Many trading books are a bit obtuse, forcing one to re-read entire chapters when all you need is a refresher during the trading day. Not so here.

If you carefully follow even one of the clever set-ups in this book combined with his money mangement suggestions, I suspect the... price of the book will be repaid in exponential fashion.

Rating:
Summary: Good book with some important limitations
Review: First of all, I should say that I am a convert from buy and hold to short term trading, and I have a lot to learn. This book, while expensive is worth the price if you are less than one year into short term trading.

The book is clearly written and includes excellent graphics to illustrate the authors setups. The 3 page chapter on "Stock Selection" was worth the price of the whole book for me. Mr. Landry clearly lists the 8 conditions that he uses to build his "universe". For me, this reduced my daily downloads of 8000 stocks, to about 400.

The chapter on trend qualifiers, an important prerequisite to using his setups, is very good. It covers ADX, gaps, closes and moving averages. Because of the importance of ADX (Average Directional Movement Index), a more detailed discussion was included by the author in the Appendix.

The chapter on on basic pullbacks, is also excellent and he gives clear setups for both longs and shorts.

In following chapters, Mr. Landry provides another 6 setups which he uses with clear examples for longs and shorts. All the setups can be easily programmed in TC2000, or most other charting, software packages.

His clear setup rules are refreshing, in that so many books of this genre, are poorly written and difficult to mechanize.

The chapter on Volatility, helped me to understand this concept, but more importantly, Mr. Landry provides clear and easy to deploy rules for using volatility. He also includes a chapter on Market Timing which provides 4 indicators that he uses to determine market bias.

The chapters on Trader's Psychology and Lessons Learned are easy to read and to the point.

All in all, I find this book to be one of the best I have read and I refer to it often. Mr. Landry states that the book represents how he trades and which setups he uses and does this in a refreshing way that is easy to understand.

Now the limitations, in my humble opinion. First, his style of swing trading depends strongly on trending stocks. The setups will not work in a trading / choppy market. He states this up front, but if you are searching for mechanical trading systems, it is most important to understant that most setups that work in trending markets do not work in choppy / trading markets, and visa versa.

Second, I was suprised that the author did not include any backtesting results for the setups. While backtesting is prone to many issues, the fact that he uses top down screens to ascertain market bias conditions before entering his trades, should have made any backtesting fairly reliable.

Finally, I believe his entry points (usually 1/16 above or below the trigger, is pehaps too small and prone to whiplash in today's volatile markets. I am using a slightly wider increment based on the specific stocks average daily range.

I am glad I bought this book. You can also learn more about Mr. Landry on TradingMarkets.com, where you can sign up for a one week free trial of his daily setups. The site is also a great resource for trading information in general.

One final note. The book is published in 8 1/2 by 11 inch page format, with large fonts and lots of white space. I found this to be like an instruction manual, and it enhances the ease to read as well as frequent referral and review. A small point, but a very nice touch.

Rating:
Summary: The Best book on Swing Trading I ever read
Review: This book can be considered "The Ultimate Swing Traders Manual". Landry provides clear and concise rules that will bring trading success to anyone who reads and implements these strategies in the book.

The Oscillator Swing System is one of the best there is. I have adapted it to trading both stock and futures. The results are amazing. This one system is worth the price of the book!

Well worth the $... for the book as the reward from his insight will payout 1000 fold. Buy it! Great ideas from a great trader.