Avid Chat Discussion with Linda Raschke in 1999
racerx: . . . . Wed, Oct 23, 8:03PM CST (-0600 GMT)
Linda, do you still mostly trade short term swings on over/undervalued situations or has your trading changed throughout the years?
_avid_trader_: . . . . Wed, Oct 23, 8:04PM CST (-0600 GMT)
Welcome to tonight's special chat with Linda Raschke.
freebird: . . . . Wed, Oct 23, 8:05PM CST (-0600 GMT)
Hi avid
_linda_raschke: . . . . Wed, Oct 23, 8:05PM CST (-0600 GMT)
thanks for having me as a guest!
mjr: . . . . Wed, Oct 23, 8:05PM CST (-0600 GMT)
Linda : First let me say your book "STREET SMARTS" is and continues to be enlightening. The wide range of strategies is impressive and it has helped my trading in no small way. Thank you. Any other books in the works ? Also, of the strategies/methods in your book, which one(s) seems to lends itself to daytrading the S&P; and bond futures best (I currently use your ANTI method quite well on daily charts). Thank you.
racerx: . . . . Wed, Oct 23, 8:05PM CST (-0600 GMT)
LR, please see my question above...
cwlo: . . . . Wed, Oct 23, 8:05PM CST (-0600 GMT)
Hello Linda! Can you provide any insight into using the S+P futures cash/premium for daytrading?
seb: . . . . Wed, Oct 23, 8:05PM CST (-0600 GMT)
Good Evening Linda, Welcome
intuitive: . . . . Wed, Oct 23, 8:05PM CST (-0600 GMT)
AVID: can you explain the format before the chat begins?
freebird: . . . . Wed, Oct 23, 8:06PM CST (-0600 GMT)
Linda, what do you think is the best short term indicator out there?
jim: . . . . Wed, Oct 23, 8:06PM CST (-0600 GMT)
Hi, Linda! Welcome. :)
randy: . . . . Wed, Oct 23, 8:07PM CST (-0600 GMT)
Linda, Hello from western Kansas
cyrano: . . . . Wed, Oct 23, 8:07PM CST (-0600 GMT)
Linda, How do we know that it is really you ?....just kiddin.
_linda_raschke: . . . . Wed, Oct 23, 8:07PM CST (-0600 GMT)
racerx: it's not that I can determine "overvalued or "undervalued", short term trading is following the market's impulses or pattern recognition I guess with futures it's very difficul to say valuation levels because the current price action is always telling one what the market is valuing something at...
_avid_trader_: . . . . Wed, Oct 23, 8:08PM CST (-0600 GMT)
intuitive and all -- please type your questions once only. We will answer them on a FIFO (first in, first out) basis.
gulliver: . . . . Wed, Oct 23, 8:08PM CST (-0600 GMT)
Linda.Did you sell the 9.40 op this morning in SP..if not why not.
mikede: . . . . Wed, Oct 23, 8:09PM CST (-0600 GMT)
Hello Linda at a seminar I attended of Yours in Canada you made a good call on the grains based on the 10 day range crossing the 100 day range of volatility(believe this is correct) any markets now setting up similar
ready: . . . . Wed, Oct 23, 8:09PM CST (-0600 GMT)
evening, Linda, glad to share this time....
estes: . . . . Wed, Oct 23, 8:09PM CST (-0600 GMT)
Linda, in stock trades, do you trade only high Cap. >$30 or do you feel your methods spelled out in Street Smarts apply to Canslim movers?
freebird: . . . . Wed, Oct 23, 8:10PM CST (-0600 GMT)
Linda, do you have any seminars planned for the N.Y. area?
deaner: . . . . Wed, Oct 23, 8:10PM CST (-0600 GMT)
Linda would you divulge your most reliable technical indicators( ie. such as stochastics etc) and the parameters you use to calculate them?
_linda_raschke: . . . . Wed, Oct 23, 8:10PM CST (-0600 GMT)
mjr: Thanxs for the book feedback...No more books in the works! Wheh Even if youare a daytrader of S&P;,s it is still important to recognize when the market has reached a significant degree of contraction leading to a potential "breakout mode" or trend day. Thus, don't forget to look t he dailies even if you're focused intraday on a 5-minut chart. Retracements to a 20-period m.a. seem to work particularly well.a ]!
jerryf: . . . . Wed, Oct 23, 8:11PM CST (-0600 GMT)
Hi Linda! Welcome. Linda, I am trying to use the Historixal Volatility and pattern Recognition System from your interview/article in the Aug 96 issue of Stocks and commodities. Seems to alert on a lot of stocks while filtering. Any suggestions on filtering further?
_linda_raschke: . . . . Wed, Oct 23, 8:13PM CST (-0600 GMT)
cwlo: Think of premium levels as the equivilant of "wholesale" and "retail" - thus, if the premium is high, the price has already been marked up to some degree. The premium seems to have a leading function of about 5-minutes so don't sell just BECAUSE there's high premium level. Divergences in the premium level (ala "tick" divergences) also work well.ways
mjr: . . . . Wed, Oct 23, 8:13PM CST (-0600 GMT)
Thanks from this ex- Garden Stater
lewis: . . . . Wed, Oct 23, 8:13PM CST (-0600 GMT)
Hello GFriend ! It looks like there is a lot of interested parties out there!
_linda_raschke: . . . . Wed, Oct 23, 8:14PM CST (-0600 GMT)
freebird: the best indicator out there is price itself. Price will always be faster than any derivitive of the price.
racerx: . . . . Wed, Oct 23, 8:14PM CST (-0600 GMT)
Linda, if you could, what addendums would you add to your Interview in TNMW's ?
cyrano: . . . . Wed, Oct 23, 8:14PM CST (-0600 GMT)
Linda are yoiu actually saying that premium precedes price?
cyrano: . . . . Wed, Oct 23, 8:15PM CST (-0600 GMT)
you just answered my question
dev: . . . . Wed, Oct 23, 8:15PM CST (-0600 GMT)
Linda, I know you look for stocks that have pulled back to a short term moving average but have an increasing ADX. Can you give me some examples so I can see what you look for on my charts?
cwlo: . . . . Wed, Oct 23, 8:16PM CST (-0600 GMT)
Linda, can you discuss any day-trades you took in the S+P this week, and what alerted you to take them, and when you exited?
_linda_raschke: . . . . Wed, Oct 23, 8:16PM CST (-0600 GMT)
deaner: I like a 3-10 oscillator for simple pattern recognition. (3-per sma - 10-per. SMA.Use a 16-period SMA of the 3-10 in conjunction with it. It just highlights nice pullbacks to a 20-period EMA or basic mommentum divergences.
_avid_trader_: . . . . Wed, Oct 23, 8:17PM CST (-0600 GMT)
Gulliver -- explain "9.40 op".
sanka: . . . . Wed, Oct 23, 8:17PM CST (-0600 GMT)
Where is Linda?
freebird: . . . . Wed, Oct 23, 8:17PM CST (-0600 GMT)
So in your opinion, what is the most reliable price pattern for short term trades?
cyrano: . . . . Wed, Oct 23, 8:18PM CST (-0600 GMT)
Linda- How do the technical indicators fit in with patterns , when patterns are shaped by specific price bars. Based more on trend lines than averages.
_linda_raschke: . . . . Wed, Oct 23, 8:18PM CST (-0600 GMT)
estes: I like to trade equities priced between 18 - 100. 3-dollar stocks are not my game. Neither is the OTC market! Listed NYSE issues do just fine. I have about 20 - 40 favorites I like to follow and trade.
_linda_raschke: . . . . Wed, Oct 23, 8:19PM CST (-0600 GMT)
freebird: Sorry, no more seminars planned at this point!
gulliver: . . . . Wed, Oct 23, 8:19PM CST (-0600 GMT)
Highest point of day hit twice at 9.40
mjr: . . . . Wed, Oct 23, 8:20PM CST (-0600 GMT)
Linda : What % of your trades are daytrades vs. postion trades? Thanks
_linda_raschke: . . . . Wed, Oct 23, 8:20PM CST (-0600 GMT)
gerry f: For filtering further, you can always look at average daily range on the equity to make sure you're trading one with enough spread and volatility in the first place.
_linda_raschke: . . . . Wed, Oct 23, 8:21PM CST (-0600 GMT)
racer ; TNMW? Can you be more specific??
cyrano: . . . . Wed, Oct 23, 8:21PM CST (-0600 GMT)
Linda - are your 20 - 40 favorites that fastest movers ? since price movement is crucial to option trades.
lewis: . . . . Wed, Oct 23, 8:21PM CST (-0600 GMT)
Can you discuss todays stock market action and its relevance to the next 3-5 days out ? Also would you please reiterate your philosophy of trading, and remaining emotionally functional in turbulent times ! We all Love You Linda!
racerx: . . . . Wed, Oct 23, 8:22PM CST (-0600 GMT)
Linda, The New Market Wizards (sorry). Thanks.
estes: . . . . Wed, Oct 23, 8:23PM CST (-0600 GMT)
Besides your book, what do you think is the best TA book for the stock trader, and the futures trader?
tp: . . . . Wed, Oct 23, 8:23PM CST (-0600 GMT)
linda: have you observed changes in patterns over the last few years (perhaps related to new rules, but also coputer trading, use of software tools on a large scale, etc...) or are they as applicable as ever.
blocker: . . . . Wed, Oct 23, 8:24PM CST (-0600 GMT)
Hi Linda, I've heard you day trade the S&P; without stops. Is this true and if so, how do you exit when you're wrong.
freebird: . . . . Wed, Oct 23, 8:24PM CST (-0600 GMT)
When trading futures, do you use a dollar stop loss or a support line for a stop
_linda_raschke: . . . . Wed, Oct 23, 8:25PM CST (-0600 GMT)
dev: Here's some stocks with strong trends as indicated by a rising ADX...ABT,AMD,CAG,CCI,C,CHV..Gee, I just started scrolling through my list and it appears there are plenty. However, none pulled back to a 20-per. EMA but obviously there have been smaller pullbacks (ie, to a 10 per MA, or even 2-3 day pullbacks. CPQ looks like it was a buy today (New highs...keep buying pullbacks until you get a retest or low volatility consolidation point indicating a breakout)
deaner: . . . . Wed, Oct 23, 8:26PM CST (-0600 GMT)
Linda, there are several in this den who feel technical analysis is at best a trailing indicator. Is this yout belief? What in your opinion is the best technique to determine future market direction?
trapper: . . . . Wed, Oct 23, 8:27PM CST (-0600 GMT)
Linda...What do you use to decide when to exit a trade,profit targets, gut feeling,or indicators etc.?
_avid_trader_: . . . . Wed, Oct 23, 8:27PM CST (-0600 GMT)
Gulliver -- seems like you've stumped the band. One more time, please, all the way through. Thank you.
mikede: . . . . Wed, Oct 23, 8:28PM CST (-0600 GMT)
Linda what is your favorite trigger on your first cross pattern in the futures market, and any futures markets that look good over next couple months?Thanks
tp: . . . . Wed, Oct 23, 8:28PM CST (-0600 GMT)
linda; how do you view recent frequent 100-150 point swings in the dow. Volatility due to earnings period or more than that.
_linda_raschke: . . . . Wed, Oct 23, 8:28PM CST (-0600 GMT)
cwlo: Sorry guys, I was in NEW York on some business and did not get back till 2:AM last night. I have been trading the grains very actively in one day out the next just because they don't open 'till 10:30 and I could sleep in. Probably not the answer you wanted to hear, but quite frankly I have ben burning the candle at both ends the last 3 weeks! Sorry!
gulliver: . . . . Wed, Oct 23, 8:29PM CST (-0600 GMT)
Avid.Thanks never mind..there was a great sell signal twice today for daytraders,and in fact on great buy signal too.Just wonderedif Linda was trading index and if she still uses pattern and momentum for intra day signals..today was great.
lewis: . . . . Wed, Oct 23, 8:29PM CST (-0600 GMT)
It seems many successful futures traders have trouble with the stock market, and vice-versa. Could you comment on this theory, and since you trade both successfully, could you share with us your philosophical differences or state of mind that allows you to do so.
hal: . . . . Wed, Oct 23, 8:30PM CST (-0600 GMT)
Avid Trader: Can you tell us the format for Linda Raschke's chat. Can we ask questions?
cyrano: . . . . Wed, Oct 23, 8:30PM CST (-0600 GMT)
Sounds like a very exciting life Lina, seriously
lewis: . . . . Wed, Oct 23, 8:31PM CST (-0600 GMT)
Linda you were recently reportedly spotted at the World Series in Atlanta. Were you there on business too?
_avid_trader_: . . . . Wed, Oct 23, 8:32PM CST (-0600 GMT)
hal -- ask away, just as you see everyone else doing. Then be patient for the answer. Thank you.
_linda_raschke: . . . . Wed, Oct 23, 8:32PM CST (-0600 GMT)
The most reliable pricw pattern for short term tradesis buying the first pullback (or selling the first rally) after the market has shown its first "impulse" In other words, let it tip its hand FIRST (Wyckoff might call this its first "sign iof strength). This can easily be recognized by a move outside of the KELTNER channels (ie., i use 2.5 bands centered aroun a 20-per EMA. For example , the market (S&P;) showed upside "impulse" this afternoon at 2:30 EST at which point there was a small consolidation. "Impulse tends to be followed by 1 - 2 more pushes.
tp: . . . . Wed, Oct 23, 8:33PM CST (-0600 GMT)
i'm not the moderator here, but maybe we should stick to technical questions...
_linda_raschke: . . . . Wed, Oct 23, 8:33PM CST (-0600 GMT)
cyrano: Do you mean bar chart pattern (ie. triangles???'
_avid_trader_: . . . . Wed, Oct 23, 8:34PM CST (-0600 GMT)
cyrano - please re-phrase your 8:18 question. Thank you.
_linda_raschke: . . . . Wed, Oct 23, 8:35PM CST (-0600 GMT)
mjr: 95% of my trades are held overnight. Only in the S&Ps; or losing trades do they tend to be daytrade!
mongoose: . . . . Wed, Oct 23, 8:35PM CST (-0600 GMT)
OEXMAN, Still waiting for your sign-on, went Long 10:25 this morning, 150 OEXQK's. Tech stocks were due. call me later
_linda_raschke: . . . . Wed, Oct 23, 8:36PM CST (-0600 GMT)
cyrano: MY "stable" of stocks are just the ones I got to now the best when traadin on the floor. I followed them for so lon I can't leave them alone. They tend to be the top 50 optionable stocks.
cyrano: . . . . Wed, Oct 23, 8:37PM CST (-0600 GMT)
Sorry Linda and Avid - Paterns = flags , rectangles , triangles, all seem to be based on ttrend lines and specific price bars, so How does moving average indicators and such fit in with such pattrerns , they seem to be much more general?
freebird: . . . . Wed, Oct 23, 8:37PM CST (-0600 GMT)
Linda, other than the S&P;, what is your favorite futures market?
_avid_trader_: . . . . Wed, Oct 23, 8:37PM CST (-0600 GMT)
mongoose -- this page is dedicated to a specially scheduled chat until just after 10:00pm ET
lewis: . . . . Wed, Oct 23, 8:37PM CST (-0600 GMT)
Is she still on, or did somebody turn her loose?
_linda_raschke: . . . . Wed, Oct 23, 8:38PM CST (-0600 GMT)
lew: You are a sharp cookie: Yeah, the world series is something, huh. guess I don't do very well hiding behind sunglasses.
_linda_raschke: . . . . Wed, Oct 23, 8:39PM CST (-0600 GMT)
estes: John Murphy on technical analysis is definately a classic. Also, I like Wyckoff's stuf (i.e. Rollo tape, etc)
lewis: . . . . Wed, Oct 23, 8:39PM CST (-0600 GMT)
;-)
mongoose: . . . . Wed, Oct 23, 8:39PM CST (-0600 GMT)
Linda, welcome. What percentage of your trades are "SHORT TERM" and what is your definition of SHORT TERM.?
_avid_trader_: . . . . Wed, Oct 23, 8:40PM CST (-0600 GMT)
lewis -- please conserve your postings to questions or comments within the context of this special chat. Thank you.
tp: . . . . Wed, Oct 23, 8:40PM CST (-0600 GMT)
:- )
cwlo: . . . . Wed, Oct 23, 8:40PM CST (-0600 GMT)
Linda, I remember reading an article about day-trading and it mentioned that you started using a squawk box. Do you still use it, and what benefit do you get from it?
mongoose: . . . . Wed, Oct 23, 8:40PM CST (-0600 GMT)
AVID TRADER, THANKS FOR THE HEADS UP.
lewis: . . . . Wed, Oct 23, 8:41PM CST (-0600 GMT)
sanka: . . . . Wed, Oct 23, 8:41PM CST (-0600 GMT)
Have you seen Gary Smith's book: Live the Dream by Profitably Daytrading Stock Index Futures Stock Index Futures? What do you think of it?
racerx: . . . . Wed, Oct 23, 8:42PM CST (-0600 GMT)
Linda, What we be the top THREE pieces of advice that you would give any trader?
_linda_raschke: . . . . Wed, Oct 23, 8:43PM CST (-0600 GMT)
tp: overall, markets don't change because people's behavior doesn't change. However, with a more rapid flow of info (i.e. computers, et) yes, the market has become more of a volatility game.. For example, consolidate - low vol- equilibrium level .. Then a move to a new level with fewer pullbacks. In this sense, Perhapbe th swings are not as smooth or rhythmical as they used to be. There is a lot more "noise" in the markets now - witness the currencies today verses the currencies 6 years ago. The retest aren't classic "M" and "W"'s as much as they used o be. They are mor often, "spike and ledges", or a climax and then low volatility contraction or consolidation.
mikede: . . . . Wed, Oct 23, 8:43PM CST (-0600 GMT)
Linda how long will you hold a trade , to see if it is working?
noddy: . . . . Wed, Oct 23, 8:44PM CST (-0600 GMT)
Do you have any opinions about proprietry trading software such as Advanced GET
percentage: . . . . Wed, Oct 23, 8:45PM CST (-0600 GMT)
Linda...thanks for sharing your time and thoughts.
_linda_raschke: . . . . Wed, Oct 23, 8:46PM CST (-0600 GMT)
blocker and trapper: My average unit size for my CTA on th4 S&P; is supposed to be 300 contracts so no, with a full position I don't use resting stops. I have used the S&P; options a lot more and that is an alternative everyone should consider..have a position on puts or ie, a ccall spread and then trade the futures around it. This has ben working quit well. I would advise anyone tradin less than 50 contracts to kep a resting order in the market for a stop. Even if you get bad slippage, which has become a more significant problem this year, you will most likely be glad you WERE stopped out!
_avid_trader_: . . . . Wed, Oct 23, 8:48PM CST (-0600 GMT)
All -- we have about 12 questions queued as we hit the hour's :45 minute mark.
_linda_raschke: . . . . Wed, Oct 23, 8:49PM CST (-0600 GMT)
mikede: I'm not sure i you are refering to intraday or daily but in general, I feel most comfortabl with watching the price action itself as my trigger. It's easier for me to see if the price is holding or if it starts acting a bit more lively if I just watch my quote board. I'm not so keen on watching intraday bar charts. Last price works best for me.
mjr: . . . . Wed, Oct 23, 8:49PM CST (-0600 GMT)
Thanks again for your time. Come back soon !!!!!
swtrans: . . . . Wed, Oct 23, 8:50PM CST (-0600 GMT)
do you have a web site with info on your book, etc?
_linda_raschke: . . . . Wed, Oct 23, 8:50PM CST (-0600 GMT)
TP: kep in mind that all through the early 90's , volatility contracted overall for the market. The volatility now is sort of what I feel should be considered "normal"..I guess more like how it was in 86 and 87.
cyrano: . . . . Wed, Oct 23, 8:51PM CST (-0600 GMT)
good question swtrans
cyrano: . . . . Wed, Oct 23, 8:52PM CST (-0600 GMT)
Linda thank yoiu for taking the time to help the aspiring.
mongoose: . . . . Wed, Oct 23, 8:53PM CST (-0600 GMT)
Linda, I am considering day trading the OEX, I have been trading long term on the oex for many years and have done very well using a custom 500 & Dow RSI, does your fax service cater to day traders?
_linda_raschke: . . . . Wed, Oct 23, 8:53PM CST (-0600 GMT)
lewis: I find more equities traders have trouble with futures, or OEX traders have a difficult time making the transition to S&P;'s The "noise" level can be higher in the futures and the leverage is greater so maybe psychologically it can be more intimidating.
_linda_raschke: . . . . Wed, Oct 23, 8:54PM CST (-0600 GMT)
frebird: My favoorite futures market is always the one I seem to be making money in. In this respect, I have a love-hate relationship with them all>
freebird: . . . . Wed, Oct 23, 8:54PM CST (-0600 GMT)
Linda, Thanks for taking the time, it was greatly appreciated
cyrano: . . . . Wed, Oct 23, 8:55PM CST (-0600 GMT)
very funnny linda
larry: . . . . Wed, Oct 23, 8:56PM CST (-0600 GMT)
Linda so your saying when your actually trading you use no TA?
hal: . . . . Wed, Oct 23, 8:56PM CST (-0600 GMT)
Linda: With a huge account under your management, how do you handle the pressure of producing good or reasonable profit for your investor? Since the stock market average 15-20% return for the last few years, do you feel the pressure to do better than the stock market? By the way, I enjoy and benefit much from your nightly fax surface. It has been great for me. Thank you.
mikede: . . . . Wed, Oct 23, 8:56PM CST (-0600 GMT)
linda do you have an email address that is available to traders?
_linda_raschke: . . . . Wed, Oct 23, 8:57PM CST (-0600 GMT)
cwlo: I used the squack box for the first hour when quotes got very backed up on busy days. It's good on active days but I trade better without it. This is because the guys on the squack box are always commenting that Morgan Stabnley is offereing or so-and so is doing something. It screws me up to know what other people are doing. I feel it puts me in a lose-lose situation - you know, damned if you do, damned if you don't . I do best with no noise o distractions.
lewis: . . . . Wed, Oct 23, 8:57PM CST (-0600 GMT)
thanks Linda!
cwlo: . . . . Wed, Oct 23, 8:58PM CST (-0600 GMT)
Thanks Linda, I reached the same conclusion myself.
lewis: . . . . Wed, Oct 23, 8:58PM CST (-0600 GMT)
what?
randy: . . . . Wed, Oct 23, 8:58PM CST (-0600 GMT)
Thanks Linda We novices will try to keep providing fodder for you true wizards
mjr: . . . . Wed, Oct 23, 8:59PM CST (-0600 GMT)
Almost forgot: Thank you AVID.Your services are greatly appreciated.
mikede: . . . . Wed, Oct 23, 8:59PM CST (-0600 GMT)
thanks for your time Linda
_linda_raschke: . . . . Wed, Oct 23, 8:59PM CST (-0600 GMT)
racerx: don't drink, get plenty of sleep... ha ha, no really, don't clutter up your mind with too many indicators and methodologies. Fin one pattern for starters and stick with it. NEVER listento anyone else opinions, comments trades, etc. etc. Especially don' listen to he TV, sentiment garbage, opiniionated newsletters etc. You must learn o see the price for youself. The only truth is PRICE>
davec: . . . . Wed, Oct 23, 9:01PM CST (-0600 GMT)
Do you find the wolfe Wave works better or the Elliot wave for day trading and recognizing patterns in the SP?
_avid_trader_: . . . . Wed, Oct 23, 9:01PM CST (-0600 GMT)
Let's hold off on the questions while we answer few more. Any further questions you have can be e-mailed to Linda at lbr@avidinfo.com .
racerx: . . . . Wed, Oct 23, 9:02PM CST (-0600 GMT)
Linda, Thanks...LOL! By the way, any other women traders that AVID should invite to their chat site?
_linda_raschke: . . . . Wed, Oct 23, 9:02PM CST (-0600 GMT)
mikede: sort of depends on the market and the volatility. i. i might be more patient with corn than the S&P;'s but in general, I want to feel within the hour that I've got the right idea...With the S&P;'s maybe 5- minuts when it's activ, maybe 30 minutes when it's dull, Really, as long as it's not goin too much AGAINST me, I don't care how long I hold it.
mjr: . . . . Wed, Oct 23, 9:03PM CST (-0600 GMT)
For info on Linda's book, call OCEANVIEW FINANCIAL RESEARCH, INC (800) 797-2584. (Hope you don't mind me answering that question)
tech: . . . . Wed, Oct 23, 9:03PM CST (-0600 GMT)
linda_raschke_ thinks
mr50: . . . . Wed, Oct 23, 9:05PM CST (-0600 GMT)
morning
mr50: . . . . Wed, Oct 23, 9:06PM CST (-0600 GMT)
large chunk of chat missing ?
_linda_raschke: . . . . Wed, Oct 23, 9:06PM CST (-0600 GMT)
noddy: proprietary software??? well, If it works for the developer, it's OK. No system is ultimately going o work for you unless you'v developed it o you know how it ticks and have complete confidence in i. Truthfully, the edge from mechanical systems is much smaller han peopl really want o believ. Come on guys, ow much money do you think these large CTA shops, banks etc, have to spend on development of this stuf??? MILLIONS and MILLIONS o dollars. There's nothing that great out there so I guess my parting words are caveat emptor.
cwlo: . . . . Wed, Oct 23, 9:06PM CST (-0600 GMT)
Thank You Linda, and Avid!
_avid_trader_: . . . . Wed, Oct 23, 9:07PM CST (-0600 GMT)
mr 50 -- hold off for a few minutes, please, as we wind up this evening's specially-scheduled chat with Linda Bradford. Thank you.
jerryf: . . . . Wed, Oct 23, 9:07PM CST (-0600 GMT)
Linda, Thank you for the great information you have shared with us. Greatly appreaciated!
cyrano: . . . . Wed, Oct 23, 9:07PM CST (-0600 GMT)
buyer beware
_linda_raschke: . . . . Wed, Oct 23, 9:08PM CST (-0600 GMT)
mongoose: My belief is you'l have an edge daytrading if you know whether you want to best approacjh th day as a buyer or seller or whether you should look for mornin weakness to buy or sell the firast rally or if there's a "runaway" market condition for 2-3 days. In this respect, I don't think it will matter whether you are positioning or scalping. You still need a game plan BEFORE the market opens.
peterfil: . . . . Wed, Oct 23, 9:08PM CST (-0600 GMT)
Good Evening Ms. Raschke, I'd like to know if you use stochastics, and if so are there any particular parameters you use for trading stocks short term. Thank you
cyrano: . . . . Wed, Oct 23, 9:11PM CST (-0600 GMT)
Linda how old are you?
tp: . . . . Wed, Oct 23, 9:12PM CST (-0600 GMT)
Linda, how often do continuously re-evaluate your position, what triggers you out.
_linda_raschke: . . . . Wed, Oct 23, 9:12PM CST (-0600 GMT)
larry: I like to do my technical analysis at night. I know what I want to do before the market opens. Then when the day is underway, I can see if th market is doing what I thought it would or not. My main screen has all th futures markets on it, about 10 stocks, market internals, the indexes, etc. It is amazing how they mov o slightly lead each other. ie, the NASDAQ tuning before the S&P; or notinh the transports strength. I can't see these things if I've gt my head buried in a chart. I guess from standing on the floor for so many years, we only gt to watch the quotron screens. For years, I just had a quotron on by desks. Ialmost do better if I sorty o watch the price out of th corner of my eye. I do keep a 5-minut S&P; chart on a separate screen, though.Thy
_linda_raschke: . . . . Wed, Oct 23, 9:13PM CST (-0600 GMT)
cyrano: I'm 37. My birthday is 4-4-59. I'm an Aries, and no, I don't have any hidden birthmarks.
mongoose: . . . . Wed, Oct 23, 9:14PM CST (-0600 GMT)
Linda, Im sure you tired after burning the candle at both ends, so many thanks for your time and please return soon.
_linda_raschke: . . . . Wed, Oct 23, 9:15PM CST (-0600 GMT)
DAVE C: Sorry, am not much of an Elliot wave purist., although it's a great technique to tell one what's just happened. I guess my world consists of simple A-B-C's and X-Y-Z's, also, three pushes. In thissense, the wolf wave is just anothe form of 1-2-3
clayking: . . . . Wed, Oct 23, 9:15PM CST (-0600 GMT)
I take it you are a big fan of Wycoff
cyrano: . . . . Wed, Oct 23, 9:16PM CST (-0600 GMT)
I knew it , mine is 4- 27 59 , thanks and bye
_linda_raschke: . . . . Wed, Oct 23, 9:17PM CST (-0600 GMT)
peterfil: Sure, I'll look at a stochastic. I like a 7-period k and a 10-period D..However, I'll usually prefer to look at the 3-10 oscillator instead.
gulliver: . . . . Wed, Oct 23, 9:17PM CST (-0600 GMT)
I have learned to daytrade index knowing nothing of any other markets or trends..the price and pattern is always right..the other indicators are built in the price already.Do you agree.
rlc: . . . . Wed, Oct 23, 9:18PM CST (-0600 GMT)
worm: . . . . Wed, Oct 23, 9:19PM CST (-0600 GMT)
_linda_raschke: . . . . Wed, Oct 23, 9:20PM CST (-0600 GMT)
HAL: I guess I never think about the stock market returns. Quite frankly, I try not to look at my returns. I just try to concentrate on one day at a time and doing the best I can each day. I fel more pressure to spend quality time with y daughter and those kinds of issues as opposed to financial pressures. The business is so streaky in terms of being hot and cold. Just as every stock might have its day in the sun, so do traders. I go through great times and slow times like everyone else. You just take it as it comes along.i
_linda_raschke: . . . . Wed, Oct 23, 9:21PM CST (-0600 GMT)
gulliver: Yeah , I believe everything is built into the price. The technicals are the main thing I try to focus on.
noddy: . . . . Wed, Oct 23, 9:22PM CST (-0600 GMT)
Can you clarify for the ignorant - 1 3-10 oscillator ?
_avid_trader_: . . . . Wed, Oct 23, 9:22PM CST (-0600 GMT)
Thank you all for joining us this evening, and for asking great questions! Again, if there are any further questions or areas that you wanted more fully developed, just e-mail Linda at lbr@avidinfo.com .
avid_trader_: . . . . Wed, Oct 23, 9:23PM CST (-0600 GMT)
And thank you, Linda, for equally great answers. This has been an evening well spent.
freebird: . . . . Wed, Oct 23, 9:24PM CST (-0600 GMT)
Thanks Avid. Who's on deck and who do you have planned for the future?
_linda_raschke: . . . . Wed, Oct 23, 9:24PM CST (-0600 GMT)
noddy: the 3-10 oscillator is th differeence between a simple 3-period m.a. and a 10-period s.m.a. It is best used in conjunction with a 16-period s.m.a. of the 3-10 osc. You should be able to use it on 95% of the charting packages out there.
freebird: . . . . Wed, Oct 23, 9:24PM CST (-0600 GMT)
Thanks again Linda
_avid_trader_: . . . . Wed, Oct 23, 9:25PM CST (-0600 GMT)
freebird -- check at the top of this transcript, and at button .
_linda_raschke: . . . . Wed, Oct 23, 9:26PM CST (-0600 GMT)
Thanxs for having me on your page. Your questions were great. I can't believ how quickly time flies! Best wishes to everyone. Bye!!!r
davec: . . . . Wed, Oct 23, 9:28PM CST (-0600 GMT)
Better then a thousand dollar seminar and dindt have to get out of our chair- Thanks avid thanks Linda.!
intuitive: . . . . Wed, Oct 23, 9:31PM CST (-0600 GMT)
As a lurker, I couldn't help admire the great questions. If I were a good developer, I could put a trading program together based on what transpired this hour. |
