DVD Review: Precise Exits & Entries

Veteran trader Charles LeBeau introduces us to his trading system in the 2-Disc DVD series, Precise Exits & Entries. The author does a great job covering a wide range of important topics for all traders (novice or advanced).

What LeBeau Does

In this DVD series, LeBeau describes in details (with plenty of charts):

1. Strategies for Up, Down, and Sideways markets
2. Preparing the setup
3. Entry triggers
4. Exit strategies
5. Basic money management rules (e.g., position sizing, etc.)
6. Monitoring your performance (tracking losses and wins to fine-tune your performance).

How He Does It

I don’t want to steal someone’s livelihood by describing LeBeau’s entire system here, but he uses various Technical Analysis indicators (RSI, Parabolic SAR, Moving Average cross-over, Williams %R, etc.) but his focal point are two specific indicators: ATR and ADX. Hence the subtitle to the series, The Guide to Average True Range and Average Directional Index.

Before you walk away, consider these points:

• LeBeau is not presenting a simple-minded 2 indicator trading system.
• His detailed observations are sound advice for any trader. Professional traders are always alert to something somewhere that might fine-tune our trading, and beginner traders can save themselves thousands of dollars in losses by considering sound principles. Both novice and advanced traders will find good nuggets discussed in this DVD series.

PROS

1. The scope of the DVD is great: it describes virtually every aspect of successful trading (from strategies for different markets to monitoring your performance).
2. LeBeau successfully walks a fine line: he describes every section he covers in detail and does so in plain language even a novice could grasp and immediately learn, yet it is not so oversimplified that advanced traders would find it useless and walk away. Very good, considering the detailed nature of his presentation.
3. A very good introduction for entry-level and intermediate traders; and a good refresher for advanced users.

CONS

1. On several occasions LeBeau had a tendency on going off on tangents and dragging out the discussion.
2. Every trading system has its limitations. To that end, the author could have provided examples of circumstances his system failed, and then provide strategies to anticipate and deal with limitations.