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Linda Bradford Raschke

" The truth is that once you get down on the trading floor, you find that the traders come from all walks of life. You don't have to be a rocket scientist to be a trader. In fact, some of the best traders whom I knew down on the floor were surf bums. Formal education didn't really seem to have much to do with a person's skill as a trader."

Linda Bradford Raschke, in Jack D. Schwager, The New Market Wizards (1992)

New Quoatation

"If you ever find yourself tempted to seek out someone else's opinion on a trade, that's usually a sure sign that you should get out of your position."

Linda Bradford Raschke, in Jack D. Schwager, The New Market Wizards (1992)

New Quoatation

"I believe that only short-term price swings can be predicted with any precision. The accuracy of a prediction drops off dramatically, the more distant the forecast time. I'm a strong believer in chaos theory."

Linda Bradford Raschke, in Jack D. Schwager, The New Market Wizards (1992)

New Quoatation

"There are too many unpredictable things that can happen within two months. To me, the ideal trade lasts ten days, but I approach every trade as if I'm only going to hold it two or three days."

Linda Bradford Raschke, in Jack D. Schwager, The New Market Wizards (1992)

New Quoatation

"Some of the best trades come when everyone gets very panicky. The crowd can often act very stupidly in the markets. You can picture price fluctuations around an equilibrium level as a rubber band being stretched -- if it gets pulled too far, eventually it will snap back. As a short-term trader, I try to wait until the rubber band is stretched to its extreme point."

Linda Bradford Raschke, in Jack D. Schwager, The New Market Wizards (1992)

New Quoatation

"Perhaps my number one rule is: Don't try to make a profit on a bad trade, just try to find the best place to get out."

Linda Bradford Raschke, in Jack D. Schwager, The New Market Wizards (1992)

New Quoatation

"I try to wait until things set up just right before I take a trade. Then, when I'm ready to take the trade, I slowly count to ten before I pick up the phone. It's better to have the wrong idea and good timing than the right idea and bad timing."

Linda Bradford Raschke, in Jack D. Schwager, The New Market Wizards (1992)

New Quoatation

"One of my favorite patterns is the tendency for the markets to move from relative lows to relative highs and vice versa every two to four days. This pattern is a function of human behavior. It takes several days of a market rallying before it looks really good. That's when everyone wants to buy it, and that's the time when the professionals, like myself, are selling. Conversely, when the market has been down for a few days, and everyone is bearish, that's the time I like to be buying."

Linda Bradford Raschke, in Jack D. Schwager, The New Market Wizards (1992)

New Quoatation

Linda Bradford Raschke, U.S. commodities and futures trader
(1956 - )