Built per plan the LT-40 is capable of a lot more aerobatics than you'd think. It may not be as graceful or precise as a pattern plane but it can do the maneuvers.

High wing airplanes with dihedral tend to level themselves if you bank with aileron and then release the stick. The more dihedral they have the faster they level themselves. Without dihedral you need to use the ailerons to level the wings. Left aileron + up elevator = left turn. After the turn, a little right aileron levels the wings. Even with dihedral, using the ailerons to level the wings after a turn makes them look a lot smoother.