Has anyone ever heard of him?....And what do you think of his method...."The LSS System" Just curious, I saw a book of his once titled... "Day Trading with Precision"........I heard he had some legal problems but, I don't know much else about him. Probably a bunch of BS but, I don't know. I figured it was just some non-trader telling others how to trade
Had a little brush with the law. But, Angell remains one of the best traders/teachers/gurus. I cannot thank him enough.. He is the one reason why I am who I am. Oh.. forgot about the LSS system. I ran into it in one of his books I think, but I it wasn't for me because I am not that of a longer term trader. His short term ideas are what helped me.
WOW...Your serious huh?.....That's good! I heard of some vague rumors about his troubles but didn't look any deeper....And so many of these guys are crooked anyway. Unfortunately... But, It's good to know
Angell is worth reading. He was on the floor so the focus is more on levels and elasticity. LSS is an adaption of Taylors book method. I ploughed tortuously through Taylors "The Taylor Trading Technique' several times and would reccomend you do the same if you are interested in LSS (legal pdf of LSS chapter of an Angell book is available free on the web). LB Raschke also has a piece out there. He made claims for USD1m PA or so performance that were simulated not actual. Interestingly the CFTC said his own trading performance was "more modest" - if it was a loss I am sure they would have said loss, so if he trades and makes any money at all that puts him ahead of the rest of the book/seminar/CD crowd. Overall Fisher, Crabel, Dalton, Angell, Taylor, Stiedlmayer all seem to mesh together into the same thing. I use Crabel/Fisher/Taylor with MP to look under the hood for confirmation and levels. e.g if you were trying to set of stops where the the density you need likely to be, and how would you do it? quick spike or sloooow water torture? P.S. I saw a dssapointed review of his Sniper Trading book stating that there was nothing new, just the same stuff. Point is, as it is his last book and a rehash, it probably is the cheapest way of getting all his ideas!
I did. Thanks! That is amazing: 375 people bought that LSS program for $3,400. I went the cheap route. Bought the book and tried to reverse engineer the LSS system. Per usual didn't work. I don't think Angell is any worse than the rest of them. His system obviously sucks. Taylor's notion of the 3 day cycle is still valid, but not to the degree that Angell took the idea. You can't computerize a notion. I bought that Sniper book and its workbook. Very disappointing