In this episode of "Confessions of a Market Maker," we dive into the world of trading with Linda Raschke
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In this episode of "Confessions of a Market Maker," we dive into the world of trading with Linda, a professional trader with over 40 years of experience. Linda shares her insights on various topics related to trading, including futures markets, managing other people's money, and finding a consistent trading style.
Linda emphasizes the importance of finding a consistent trading style and sticking to it, whether it's trend following, seasonals, or short-term discretionary trading. She also advises against getting too big too soon and recommends waiting until there is consistency in the bottom line before increasing position size. The co-hosts also touch on the pros and cons of managing other people's money, with Linda noting the deep regulatory layers and steep fees involved.
Linda's trading strategies have remained consistent over the years, focusing on money management, support and resistance levels, and visible levels that everyone can see. She acknowledges that models cannot account for all outliers, such as the recent pandemic, and that traders must remain disciplined and make lifestyle trade-offs to achieve success in trading.
The conversation also shifts to non-trading topics, such as horse racing and opera. Linda shares her experience managing other people's money as a trader and talks about her fabulous assistant, Kyle, who is good at execution and loves charts.
Overall, the conversation highlights the importance of discipline, focus, and continuous learning in the world of trading. Linda's insights provide valuable lessons for both novice and experienced traders alike.
As Linda says, "finding one little relationship that can give you an edge" is key to success in trading. So, if you're interested in learning more about the world of trading, be sure to check out this episode of "Confessions of a Market Maker."
Until next time,
Ray & JJ (co-hosts Confessions of a Market Maker)