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Don,
I am quite familiar with Lindsay's work on Tridents. I will share my
opinion on his strategy, but I'm sure there are those that will have a
different opinion.
It's actually a re-hashing of some of Gann's swing trading principles.
Lindsay adds his own "twist" to it in terms of a unique trade entry and
exit technique. He uses retracement percentages to determine if you are
trading with the trend...and also as part of a very complicated trailing
stop strategy.
I cannot conclusively say that his Trident strategy does not work, but I
CAN say that it is very awkward to trade in the real-world....and I
believe there are similar strategies that probably perform as well or
better with less hassle. To implement his trailing stop strategy, one
would have to stay glued to a quote screen all day for many position
trades! Robert Krauze's swing trading strategies are similar to
Gann...and I much prefer his approach to Lindsay. Lindsay's approach is
more or less a cheap imitation of Gann...and with profitability that is
likely lower from brief tests I've done.
In my tests, I have found Gann's "trade entry point" in a "Trident" to
be much more reliable than Lindsay's. Also, I have found different
retracement percentages to be more profitable than what Lindsay
proposed. Still, one can learn a lot from a few principles that Lindsay
presents. In the later (and more advanced) half of his book,
however,...I got completely lost as I found him to be inconsistent
and/or unclear in certain statements. In spite of all of this, his work
continues to stand out in my mind. He put forth his initial and basic
ideas in a very clear manner (albeit Gann's ideas....Lindsay is easier
to understand on basic stuff).
To fully implement Lindsay's Trident trading strategy would require a
very sophisticated computer programming effort...especially in defining
pivots where no real pivot exists!!! (an example of an apparent
inconsistency in his strategy). Gann was very clear with regard to pivot
definition. Also, Lindsay's "swing charts of swing charts" and trend
detectors will only allow a handful of issues to be tracked daily using
manual analysis. A computerized approach (like Krauze) allows not only
for the tracking of more issues, but one can also "cherry-pick" amongst
the best trading candidates.
I could go on...but if you want to know more about Trident trading, you
might want to contact Richard at Trident Trading Systems
(www.trident-trading.com). He may well be the world's foremost expert on
Trident trading strategies. He offers an end-of-day DOS program that
addresses many of Lindsay's problems in Trident trading. It his own
"twist" on Trident principles...and his "twist" looked quite sound to
me. They use indicators, averages, etc. to help define trend and Trident
entry points. They will be coming out with a Windows-based daytrading
version soon (or so they say!!!). (NOTE: I am not affiliated with
Trident Trading Systems in any way and do NOT own their products. I
reference their site for information only.)
Hope this helps. Let me know if you learn anything on Trident
software/strategies that may be of interest to myself or the group.
Andre
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