Readers Reviews of Dave Landry on Swing Trading
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Dave Landry contends surprises in the markets often happen
in the direction of the trend over several days. And, by holding positions for two
to seven days, substantial market moves can be captured." His book is a manual on
momentum based swing trading which shows how he does this.
Do not expect mathematical complexity in this book , it isnt there. Instead you
will find sound practical methodology and substance. There are numerous examples which
ensure an understanding of his trading practices.
He commences with the basics discussing money management and trend identification,
clearly setting out his rules. I particularly liked his advice not to get caught up in the
specific details when considering the trend and to "ask a six year old child what
direction they think the chart is headed". He uses much more than that of course,
specifically Welles Wilders Directional movement indicators, when considering the
trend in his stock selections.
The book contains sections on : The Basics of Swing Trading, Swing Trading Patterns, Bow Ties, Micro Patterns, Volatility, Market Timing, Trading Psychology and Putting the Pieces together make up the book.
His discussion on volatility is worth the price of the book alone. Here he shows how he
uses historical volatility (which, in the past was normally associated with options
trading) to find markets with the potential for short term explosive moves. The formula is
set out in clear English in an appendix to the book. He introduces a Historical Volatility
Ratio which he uses as an indicator and then gives examples of its application.
If your bias is towards shorter time trading this book is worth consideration. Before baulking at the price consider that if you buy this book you are buying
information and knowledge. Knowledge gained through the school of hard knocks by Mr
Landry, a co-founder of Trading Markets.com, registered Commodity Trading Advisor, and a
principal of the US hedge fund, Harvest Capital Management.
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