This episode of Talking Trading features a very special in depth interview with Market Wizard herself Linda Raschke. Effervescent, vivacious and open about her trading Linda shares the key programs which make her money in the markets and made her a legend. She talks about her trading routine, why her horse is called Ritchie Rich, and why she had always had a love hate relationship with the market. Honest, up front and gorgeously bubbly hear why Linda is a Market Wizard and how she really did trade during labour.
Linda finishes every trading day riding her horse RITCHIE RICH.
It is the last part of her daily trading routine, which she says is 90% of her success. She believes ORGANISATION is the number 1 skill in running a successful trading program and everything in Linda’s system has to be on autopilot.
Linda has been in a LOVE-HATE relationship with the market for over 30 years. During those 30 years her trading programs have stayed exactly the same and she shares openly about the 4 key programs, which make her money in the markets.
Linda says ‘You need to learn to do one thing and do it well and specialize in it. Do not try and trade too many markets and do too many things.’
She had to learn all the lessons the hard way. From blowing out her account at age 22 and going into debt 3 months into her career her advice is that people need ENDURANCE to stick it out on the learning curve. ‘Trading is definitely a patience game.’ Linda herself is still learning about trading and loves that it gives her a PhD on the world even if it has taken 10 years off her life in stress.
The thing that Linda thinks she does best is SINGLE-MINDEDNESS. And it is true she traded during labor, rolling over a futures contract to her broker on the phone.
Her advice to new traders, you have to have thick enough skin and be able to pull yourself up by the bootstraps.
Come and enjoy and adore Linda Raschke and her openness about her market life.