Linda Bradford Raschke and ''Street Smarts''

DaxTrader

Active member
OKwon - for spread trading know some people do ok trading CAC40 futures against Eurostox50 futures (quite a few CAC40 stocks in estox) or a mixture of DAX and CAC against Estox
 

Helenqu

Established member
Hiya,

Not read either of those two books, maybe I should. Had a great Reaction Trend trade this monring on ESTX for +37.
 

DaxTrader

Active member
Nice trade Helenqu, big shakeout of longs and squeeze of shorts.

Re: Interest rate spreads

Most heavily traded is Euribor/Schatz (ie 3 months /6 months etc against 2yr schatz). Spread is tight and according to friends who trade it, there ain't the money there once was in short term trading it cos lots of people are doing it, longer term position trades prolly different.
Two's Five's - ie 2 yr vs 5yr (Schatz/Bobl) is also heavily traded - though much more spec and volatile as you would expect.
 

fastnet

Well-known member
Hi Okwon - tks for yr reply regarding LBR and the techniques in her book - opinion is split as ever. I think I could use/adapt the apposition type techniques i/o the array of intra-day stuff. I'm also a 9-5er (more like 8-7!) so can only review charts in the evening and place trades for following day - I really envy those that are able to spend more time trading/backtesting and honing their style. I'll get there but will with more if a hare approach that a turtle . . . . . . (nice link eh?)

Thanks for yr comments on the turtle type trading. It's one of the more contentious issues on this board and folk have very strong opinions about it. I have found that, even if it did work, and I believe it could in principle, it dosn't suit my shorter term style. I prefer to place a trade and take profits/loss within 3 days a week at the outside. Turtle trading inherently necessitates a high tolerance for draw-downs which I personally couldn't stomach.

I was asking more about the turtle soup plus one technique that fades all the turtle type breakouts - Dax Trader commented on it's use in the very short term - I wondered if anyone had tried it successfully on a daily basis?

Cheers
 

okwon

Junior member
Trader333 said:


This would be of no use to me at all as I just dont see how it is possible to learn what is effectively "Intuitive Trading" from someone else. In my view you are either "gifted" with an ability to trade intuitively or you're not. Those that are gifted are often referred to as being very lucky in their trades when in reality they just know when a trade will work and when it wont.


Paul

Trader333 I also agree with you on this. You have develope your own intuition or you need the ability to develope your own trade set-ups that work for present market conditions. I think another problem with using other people's trade set-ups are that certain set-ups will have higher probabilities in certain markets. I'm sure at the time LBR wrote the book the set-ups worked with the expected probabilities, as market conditions change, you need your intuition or experience to tell you which set-ups will no longer be profitable.

Thanks for the spreads in info. Daxtrader and Calypso.

I've only been watching the Eurex trading for a week now, but it seems like for purely directional intraday trading, only the first two hours for the DAX and Stoxx50 is worth trading. For the Bund and Bobl, the hours seem less important with moves happening throughout the trading period, although there does seem to be a little tendency for these to move between 7AM Eastern US time (I think that's 12 noon in London) and US Market opening hours. I'm excluding the times when US markets are open. I know this is off topic, but, am I far off here?
 

DaxTrader

Active member
OKwon

agree, first 2 hrs is usually the busy period, maybe on to 21/2 hours. Been trading solely dax and eurostox for 3 yrs+ full time, that pattern has stayed. If in a trend move exiting around 2 hrs after the open is often not far off the end of the move.

Another noticable pattern which is worth looking for is that if the entire first 11/2 - 2 hours is in a range, about 50% of the time there is a meaningfull move if the range is broken and than can extend till maybe 3 hrs after open.

Good luck
 

okwon

Junior member
Thanks Daxtrader. Definitely good advise coming from a three year veteran of trading the DAX/Stoxx.
 

vetten

Member
concerning Turtles with their large drawdowns

I wonder why they let their profits go down from say 80% to 40%

wouldn`t it be far better to take profits at 75% and climb back in if the market comes back
at the 80% price?

brokerage is not that much nowadays surely? :confused:
 

Brandonf

Junior member
DaxTrader said:
Fastnet - disagree - if there is a mechanical approach usually it is expolited by funds pretty quickly, and the pattern becomes marginally profitable in a period of time.

The edge for an individual is in diciplined but non mechanical trading - exploiting patterns that can't be written into a program.


Re: 3 pushes etc, see my post at http://www.trade2win.co.uk/boards/showthread.php?s=&threadid=5426

There can be a significant edge in my experiance for the individual trader who has a mechanical system. However, I think most traders look for the wrong stuff. I have met a few people who are very successful with this and none of them has an average trade size of over 80 shares and each of them does hundreds of thousands, up to millions, of shares per day. Often their average profit is around 1 or 2 cents per share, so what it comes down too is a very small edge that the institutions wont bother with and keeping your costs low. I have a friend though who has made several million dollars like this. I myself could never trade this way though, so for me this type of an approach would not work very well.

Brandon

PS - Sorry this is off the topic as it relates to Linda. My own opinion is that her and Chris are both great people. I have learneda lot from them both.
 
mmillar said:
When I search Google for 'Turtle Soup plus One' I just get lots of recipes for 'Grandma's delicious turtle soup. :confused: Can you be a bit more specific?

Thanks

LOL LOL LOL LOL!!!!! Not at you but at the google search!
 
Last edited:

DeadMoney

Member
back in 2003 the original poster asked " I wondered if anyone was a member of Linda Bradford Raschke’s LBR Group website? "

I have been searching Google for days now and I have not found one single response to this question.

So I just thought I would post and see if anyone has ever signed up for her Chat room?
if they had any results good or bad?
 

marcusant

Junior member
I have read street smarts and everything else about her style on the web, i think some of the market tendencies tht she writes about are spot on. kinda tempted to take the three day trial it only costs $10.
 

jansher21

Junior member
I have read street smarts and everything else about her style on the web, i think some of the market tendencies tht she writes about are spot on. kinda tempted to take the three day trial it only costs $10.

I used to be a member of the LBR chatroom a while back, it's difficult to give a review on this service - but I will try.

The service is built around having people trading on technical "patterns", like a "bear flag" with a very nice chatroom full of some very experienced traders.

The calls themselves, didn't make me any money - but some of the traders in there seemed to be happy to pay $300 a month (or whatever) to chill in the room with others. People were making money using some of the numbers for other stuff they were doing on their own.

I think Linda used to be a very good trader and now spends more of her time talking and not trading anymore. The largest I ever heard her trading was 100 sp e-minis, which is tiny compared to the people I am receiving signals from now.

It is quite expensive and just by following the trades, you can't really make money.

I have since found other services that are much better, simpler to use and significantly more profitable.

Hope this helps you guys.
 

DeadMoney

Member
the trial was free from me, I signed up for it 2 weeks ago. I also got 6 market days, not 3,
so they seem to be more generous with their free trial than what the site says.

I have found that they are making too many calls to really take them all, at a couple points they were in the russel 2000, the emini s&p, and one or two stocks. I can't follow this many trades myself. So i pick and choose which ones I am going to do.
For the last week over all their picks have been up money.
 

jansher21

Junior member
Perhaps the service has changed since I left, but I used to find they traded alot on technical patterns - and you stay glued to the screen for 5 hours... when you go to the toilet, THAT was the missed trade for the day !

Do they list long term historic records on their trades ?

I tend to rank those services highly that do the following :

1) - Precise entries / exits - which are then posted up on their site historically (not sure lbr has this)
2) - Long term track record (LBR has been around for ages)
3) - Managing accounts of a decent size, the guys I work with are managing $50m - up over $7m this year.

LBR is not a fake and I think the biggest strength with her service, is that you can meet some very good traders in there - if they decide to talk to you !!

Good luck and happy trading guys.



1) -
 

DeadMoney

Member
Perhaps the service has changed since I left, but I used to find they traded alot on technical patterns - and you stay glued to the screen for 5 hours... when you go to the toilet, THAT was the missed trade for the day !

LOL that's exactly what happen to me today, and it has actually happened quite a few times.
but you really can't blame them for winning trades that you didn't get.
Their signals are very clear, they tell you exactly where to get in and where to place your stop. Then where to get out.

They don't have anything for a track record, and it seems most of the people there don't even seem all that interested in the calls, can't figure that one out?
that is really puzzling for me, today they made a great call, the trade was very profitable. I had to run a quick errand and missed the entry. When they called to exit the trade I was watching the prints on the stock and only 200 shares traded.

There are around 150 people in the chat room, I can't think it's possible that they all missed the trade like I did, but it appears on that one none of them took it?
 
 
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