Linda Raschke and passion for the trade
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    Trader Killer_Queen's Avatar
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    Linda Raschke and passion for the trade

    Linda Bradford Raschke or commonly known as Linda Raschke is an american commodities and futures trader and she is now a president of LBRGroup, Inc. i am not getting any information about her birth date but she was born on 1956, in pasadena, california, united states.



    she is my top motivator that makes me trade and analyze by following her style, which she is the co-author of street smarts: high probability trading strategies for the futures and equities markets. that was her motivation that made myself a thread about high probability trading. this 245 page manual is considered by many to be one of the best books written on trading futures. 25 years of combined trading experience is divulged as you will learn 20 of their best strategies.



    in the world of professional trading and money management, Linda Raschke stands out from the crowd for three factors and this is important for all serious trader to get these prioritized: performance, longevity and consistency. she began her professional trading career as a market maker in 1981 on the pacific coast stock exchange. Linda Raschke then moved to the philadelphia stock exchange. then she became a registered cta aka commodity trading advisor in 1992 and now she is the principal trader for several funds around the world. and do not forget, she has taught professionals and bank traders in over 22 different countries, which is really amazing for a women.



    her quote that i like for this first phase has taught me not to hesitate to take a direct action in this life. imagine what we should do when we are in emergency situation? the only solution is to act fast by doing real thing without hope. it is not wrong to hope but it is must be supported with real efforts as well. life does not count on hope or theory alone, we must do something to make it happens by working hard and stay patience to get the opportunity, that is what i get from Linda Raschke with this quote.

    let us back on the grid again, Linda Raschke is a world renowned commodities and future trader with a top-notch track record spanning three decades. she has been a full time professional trader for over 35 years and has a net worth that makes her a multi millionaire. Linda Bradford Raschke’s own hedge fund has outperformed many of her male rivals. in fact, Raschke’s fund was ranked 17th out of 4500 for the best 5 year performance by barclay’s hedge.

    females making it on the street is an interesting thing to know and rare to see. the tiny few woman who manage to break into this male dominated world tends to shine. an unexplained fact is now emerging: hedge funds run by women outperform. that is because of her, Linda Raschke which inspired me as a women trader to rule the business. i really wish to become the next successful trader just like her someday. and this is how she create her workstation from her beginning of time in trading until now.



    try to visit Linda Raschke's website on LBRGroup, Inc. where she created many valuable and informative articles about the business. i will try to explain each points one by one later in my next update in this thread because there are so much words i want to write in this contest.


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    Trader Killer_Queen's Avatar
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    swing trading: rules and philosophy by Linda Bradford Raschke



    her style is based on the tailor trading technique, a short term method for trading daily price movements that relies completely on odds and percentages . it is a method as opposed to a system. it is the fact that very few people can blindly follow a system, though many find it easier to be discretionary in a systematic way. because this short term swing technique generates frequent trades, it is important to know the correct plays, to lock in profits and to seek the true trend of market. taking a loss is merely playing for better position and to avoid getting stuck for one movement for too long. one trade strictly for probable future results, not for what the market might do.

    to know the correct trade is to know whether to buy or sell first, to exit or hold. trades are based on objective points, which are simply the previous day’s high and low. movement between these two points determines the true trend. when swing trading, adjust your expectations. the lower your expectations, the happier you will be and ironically, the more money you will probably make. entries are a piece of cake, but you must also trust yourself to get out of bad situations and trades. it is important to use tighter stops when trading swings and wider stops when trading trends.

    this method teaches you to anticipate. never react. know what you are going to do before the market opens. always have a plan but be flexible. see your stop from support or resistance levels before initiating a trade. know how to trade out of trouble situations and get off the hook with the smallest possible loss. finally, never trade in narrow, dead markets, sideways, or whatever traders name it because the swings are too small. never chase a market because price will repeats history and move to some levels we can go for it again next time. rather than worrying that you have missed a movement, think instead of making a patience to wait for market to move to our desired price and level.

    Linda Bradford Raschke produces six figure incomes from her trading, and has had years where she made half a million in income with few losing weeks. she is truly one of the top traders in the country. here are her trading rules which many traders will find ones to add to their own method to help them improve their performance, including me too. they are:

    1. plan your trades. trade your plan.
    2. keep records of your trading results.
    3. keep a positive attitude, no matter how much you lose.
    4. do not take the market home.
    5. continually set higher trading goals.
    6. successful traders buy into bad news and sell into good news.
    7. successful traders are not afraid to buy high and sell low.
    8. successful traders have a well scheduled planned time for studying the markets.
    9. successful traders isolate themselves from the opinions of others.
    10. continually strive for patience, perseverance, determination, and rational action.
    11. limit your losses by using stops.
    12. never cancel a stop loss order after you have placed it.
    13. place the stop at the time you make your trade.
    14. never get into the market because you are anxious because of waiting.
    15. avoid getting in or out of the market too often.
    16. losses make the trader studious, not profits. take advantage of every loss to improve your knowledge of market action.
    17. the most difficult task in speculation is not prediction but self control. successful trading is difficult and frustrating. you are the most important element in the equation for success.
    18. always discipline yourself by following a pre determined set of rules.
    19. remember that a bear market will give back in one month what a bull market has taken three months to build.
    20. do not ever allow a big winning trade to turn into a loser. stop yourself out if the market moves against you 20% from your peak profit point.
    21. you must have a program, you must know your program, and you must follow your program.
    22. expect and accept losses gracefully. those who brood over losses always miss the next opportunity, which more than likely will be profitable.
    23. split your profits right down the middle and never risk more than 50% of them again in the market.
    24. the key to successful trading is knowing yourself and your stress point.
    25. the difference between winners and losers is not so much native ability as it is discipline exercised in avoiding mistakes.
    26. in trading as in fencing there are the quick and the dead.
    27. speech may be silver but silence is golden. traders with the golden touch do not talk about their success.
    28. dream big dreams and think tall. very few people set goals too high. a man becomes what he thinks about all day long.
    29. accept failure as a step towards victory.
    30. have you taken a loss? forget it quickly. have you taken a profit? forget it even quicker! do not let ego and greed inhibit clear thinking and hard work.
    31. one can not do anything about yesterday. when one door closes, another door opens. the greater opportunity always lies through the open door.
    32. the deepest secret for the trader is to subordinate his will to the will of the market. the market is truth as it reflects all forces that bear upon it. as long as he recognizes this he is safe. when he ignores this, he is lost and doomed.
    33. it is much easier to put on a trade than to take it off.
    34. if a market does not do what you think it should do, get out.
    35. beware of large positions that can control your emotions. do not be overly aggressive with the market. treat it gently by allowing your equity to grow steadily rather than in bursts.
    36. never add to a losing position.
    37. beware of trying to pick tops or bottoms.
    38. you must believe in yourself and your judgement if you expect to make a living at this game.
    39. in a narrow market there is no sense in trying to anticipate what the next big movement is going to be up or down.
    40. a loss never bothers me after i take it. i forget it overnight. but being wrong and not taking the loss, that is what does the damage to the pocket book and to the soul.
    41. never volunteer advice and never brag of your winnings.
    42. of all speculative blunders, there are few greater than selling what shows a profit and keeping what shows a loss.
    43. standing aside is a position.
    44. it is better to be more interested in the market’s reaction to new information than in the piece of news itself.
    45. if you do not know who you are, the markets are an expensive place to find out.
    46. in the world of money, which is a world shaped by human behavior, nobody has the foggiest notion of what will happen in the future. mark that word, nobody! thus the successful trader does not base moves on what supposedly will happen but reacts instead to what does happen.
    47. except in unusual circumstances, get in the habit of taking your profit too soon. do not torment yourself if a trade continues winning without you. chances are it will not continue long. if it does, console yourself by thinking of all the times when liquidating early reserved gains that you would have otherwise lost.
    48. when the ship starts to sink, do not pray – jump!
    49. lose your opinion, not your money.
    50. assimilate into your very bones a set of trading rules that works for you.


    the last but not least, i am choosing top 3 quotes from Linda Raschke that i liked most. they are:

    1. if you ever have to ask someone else's opinion on a trade, you shouldn't be in it.


    2. the minute you think you have found the key to trading, i promise you the market will change the lock.


    3. it is better to be more interested in the market's reaction to the new information than in the piece of news itself.

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