Linda Raschke – Keeps Up the Pace

Author: Linda Raschke

Linda discusses five choice trading patterns she uses. Based on a logical set of market principles, these five patterns work equally well in equity and commodity markets. Understanding these enduring market setups provides you with a solid foundation for trading technically. They simplify analysis for the beginner and give the aggressive trader added confidence. Linda has used these patterns as the core of her intermediate-term analysis but they work well on any timeframe.

Keeps Up the Pace

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We spend a day with Linda Raschke and learn about her trading style, daily market regimen and the challenge of riding a horse in a circle.

BY MARK ETZKORN

tick an offer out there at 59.25…wait, just offer them out at 59.” Linda Raschke momentarily interrupts her discussion of time frames to put in an order to sell (at 1,059.00) a long scalp position in the E-Mini S&P futures. It’s early afternoon and she has spent nearly every minute of the last six hours in the same chair, splitting her time between monitoring charts, posting commentary and trade alerts for subscribers in her online trading room, and trading. When her order is in the market, Raschke picks up the conversation where she left off. “When you’re scalping, you have to remember the shorter the time frame, the higher the noise level,” she says. “And the higher the noise level, the more back-and-fill the market will have and the greater the odds that if you’re trailing a stop, your stop will be hit. So for scalp trades, I don’t use trailing stops and I exit in one piece. “You have to recognize how much edge you’re giving up just by having the bid-ask,” she continues “You’ll always do best when you’re scalping if you’re more conscientious about initial trade entry. It’s important to try to buy on the bid and sell on the offer more than 50 percent of the time. That might mean you buy on the bid when you enter and you exit at the market, or vice versa.” Raschke can talk non-stop about trading, often using a ver-

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