Linda Raschke

Quote from elindydotcom:

ummm....the performance of her fund according to Barclays paints a vastly different picture than what has been stated in this thread so far. In fact, it looks like, over the years, they ranked her fund in the top 10 in various categories multiple times.



-eLindy
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What is the name of her fund/CTA program???

I have in the past viewed her chat transcripts (not live though) and the problem in my opinion is that it is over focused on, "what the customer wants" which is very short term scalping. Just by its nature I think it is very hard to "call out" trades for a room full of people with this type of trading, it in a way is asking too much as just executing ones own trades is already difficult enough and often not very fruitful.

On the other hand, her articles are terrific source of information/concepts on how to tape read and swing/short term trade in my opinion, and they are free on her site.

Visual tape reading gets knocked allot these days yet with practice (focusing on how market prices cause other traders to react/position rather than your own opinion) one can make good money with this approach.
 
Amazing. Right after making that last post I had a premonition that Mr. Rodney would be showing up as the next post with his classic "just google it" referral.

Well, I was half right. Mr. Rodney was the next poster yet this time he chose to do the Googling behind the scenes. Or perhaps he already new the name of her fund.

The ever vigilant Mr. Rodney strikes again... Not to be underestimated.
 
Quote from Gabfly1:

Since a few people mentioned him in this thread, I just don't understand the attraction to Al Brooks's style of trading. I spent a few days last year trying to read his book before giving up and returning it. He's something of a stream-of-consciousness trader. At the very least, that is his narrative style. Just about anything might be a signal. Or it might not be. Unless, of course, it is. It might be a countersignal. Or it might not be. Unless, of course, it is.
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I kind of agree, although I don't doubt that what he does works very well for him. I also know several other traders who seem to have benefited greatly from his material.

Personally, I don't like the fact that on the charts that he uses as examples of certain setups that worked out there are also other of his setups on the same chart that DIDN'T work out. Charts are a nice thing in a trading book (when they're legible, which his are just barely), but it's all meaningless when they're cherry-picked for "good days". What would've been of a little more genuine value, to me, would've been if he'd taken all the charts from a given week or two (thereby ensuring SOME variety in terms of trend/chop, wide/narrow range days) and applied every setup he mentions, or if not - at least explain which setups and why.

Regarding LBR, I took her free 3-day trial a few years ago in which she called the trades herself, and I was very unimpressed ... only a few trades each day, and not ptofitable overall as I recall. Could've been just a rare rough patch for her, or perhaps dayrading isn't her main thing any more, which wouldn't surprise me.
 
Quote from Rodney King:

Looks like she put together a nice run in Sep-Oct to salvage a rough year. Kudos to her.
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Pls let me get this straight: one fund has $3k in assets and the other $32K?

Are these audited records or information the CTA supplies?
 
Quote from Rodney King:

Looks like she put together a nice run in Sep-Oct to salvage a rough year. Kudos to her.
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Those returns are pretty impressive. Single digit drawdowns every year except this year. Her fees are a little high but 18% a year net of those high fees is pretty good. I would say her fund must be in the 98th percentile. I don't see what the criticism is.
 
Quote from 1prometheus:

the Googling behind the scenes. Or perhaps he already new the name of her fund. The ever vigilant
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The links were provided by another poster, earlier in the thread. Did you overlook?
 
Quote from aquarian1:

Also I appreciate the idea of the al brooks room.

Widening the topic a little, do those who use chat rooms find them of value in their equity curve? Were they making more money on a monthly basis than before?

I would think that many go to them to hear what someone else is saying - get another point of view so to speak.

I was in a free room for 2 weeks and I found it quite distracting (that room was scalping ES). I guess I don't mulitask well :)

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You bring up a great point about chat rooms. I actually subscribed to Al Brooks webinars for just one month. I found it very educational but at the same time was disruptive to my own trading. Good thing about Al Brooks webinars is that they are recorded, so as part of the membership one can go back and view them offline. 6 1/2 hours condensed to 2 hours. So I use them for educational purpose.

Gabfly and others: reading some of your other posts, I think you guys are much further ahead in trading than I am. Although I am an old dog at mechanical trading, this discretionary trading is new to me(6 months). In 100% mechanical trading I am used to taking 100% of the signals. This idea of taking only high probability signals is somewhat alien to me. Al Brooks taught me how to weigh the odds, how to wait and wait for the right high probability setup. how to let trade after trade go without action. So it is these subtle things that I learned from Al Brooks. And not so much using 5min charts. which btw I never use for my trading.

I am probably talking (as usual) out of my ass, but I believe there is a subtle finer point to Al Brooks that most people miss.
 
Quote from bearmountain:

... This idea of taking only high probability signals is somewhat alien to me. Al Brooks taught me how to weigh the odds, how to wait and wait for the right high probability setup. how to let trade after trade go without action. ....
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Interesting Bear.

I think the idea of letting trades go by without action can be a valuable skill. Perhaps I take it to an extreme but I'd rather swing only at the easy ones. For my setups if I'm getting conflicting signals such as topping action but the stops aren't yet run, or if I'm not relaxed rested and ready - I don't trade.

Somedays are more profitable if you leave your computer off :)


(BTW I'm new at the board so if my reply is wandering and I should have started a new thread please let me know -politely of course! :D )
 
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