Five Basic Trading Patterns by Linda Raschke

Was fortunate to find this gem on the Internet and thought I share it with the rest of you.

This is a audio recording (with downloadable pdf material) from Linda Raschke sharing her time-tested five basic trading patterns.

I first read about Linda Raschke from the book "The New Market Wizards". Subsequently, I also came across her in the book "Enhancing Trader's Performance". I got to know about the audio recording from a trading forum that suggested the five basic trading patterns for beginners to start trading with.

This material rocks! I mean, I could recall an educator selling a single strategy for $4000 previously?! That means this material could worth $20,000? Haha.

My take on the seminar:

• This seminar changed my perception of technical indicators. I used to disregard indicators, thinking that the indicators are derived from the price anyway. Linda suggested using indicators to look at price more objectively.


• According to Linda, she has done substantial amount of backtests on these patterns. Well, if you need some trading strategies to start with, why not try these. She has done all the grunt work for you!


• Besides the patterns themselves, Linda also highlighted/reiterated some important pointers (to me):
  
  
  
  • No one special indicator. All indicators ultimately give similar entry signals. Use indicators just as visual aids.
  
  
  • Use of conversation and aggressive entry triggers
  
  
  • She shared some of the entry triggers that she uses eg, 2 period channel breakout, ROC
  
  
  • Sharing on climax exit points
  
  
  • It is ok to be stopped out!

Do check it out. Definitely worth your time.

Oh, and, if you wish to download the sound files to listen to them at your own pace, you may do so here:

Part 1

Part 2

Part 3

Part 4