Street Smarts by LBR

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I think that is an excellent idea. In addition, she offers a archive of previous trading days dialogue records. That alone can be a valuable learning tool. I'm of the belief that nothing beats experience. You may not agree with Linda's approach, but she has so much experience that you cannot help but learn from her. Regards, Steve46
 
Quote from steve46:

I found the setups to be effective when combined with Linda's overalll program. She trys to anticipate the "kind of day" it will be (buy day, sell day, sell short day) and looks for her trades accordingly. Some of the methods in the book are not going to work for every condition. To use her work, you need to develop a similar "feel" for market action. Good Luck, Steve46
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Steve46,

I would think that, once you develop the "feel" you refer to, actual tactics are almost incidental. If someone could anticipate with reasonable accuracy the "kind of day" it will be, I would think that any suitable approach or relevant rusty "indicator" will do. The question is, does she tell you how to develop that "feel" on which her approaches are based? If not, her book may be selling the air conditioning and the power steering, but not the car itself. Just my opinion.

Regards,

Thunderdog
 
Thunderdog:
I shouldn't speak for Linda. I subscribed to her chatroom for a number of months and found it useful, but you need to have a basis yourself to make money. That basis, in my opinion, is some idea of what style you are comfortable with. Linda scalps and swing trades. Because she has been doing this for a long time, she knows how (and when) to go into scalp mode, looking to take just a couple of points. In order to do this yourself, you have to have the requisite skills. That means you have to have a handle on her terminology and what her "take on the market" is, and you have to have a platform (and the skill using it) to get in and get out of the market. Her basic game is trading retracements, flags, etc. She uses all kinds of indicators to help her and this may confuse some folks. At this point, I am using trin, tick, tiki and volume. Thats it. I look at these indicators and get a feel for market direction. Then I decide whether to scalp or swing trade based on my anticipation of what kind of day it is going to be, consolidation, or trend. If I am wrong, I get out with a loss, If I am right, I try to load the boat and hold on. Hope this helps. Regards, Steve46
 
I agree with Ditch, most of the setups have lost efficiency and a lot of the stuff in the book is common sense.
I disagree on a lot of points made as well. The price tag is way too high for that book.
 
Quote from prox:

You can buy it from Amazon and then return it after you're done reading it.
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Or you could go rob a gas station and get the money to buy it.

COME ON PEOPLE!!!
 
Try
Hit and Run Trading : The Short-Term Stock Traders Bible by Jeff Cooper
It has similar set ups some of them work very well consistantly. You will get it cheap at half.com
 
Quote from Merc:

Looking to buy Street Smarts by Linda Raschke.
The cheapest I found on Barnes & Nobles for 140$. Which is unacceptable. Is any place I can find it for lower price?

Thanks,

Alex.
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You could just buy it used from Amazon at around $140 then resell it for (hopefully) the same price after you've finished reading it.

You could also check here to see if it is available to borrow (pay shipping only).
http://www.tradersbrain.com/
 
In the 1990's it was cutting edge and worth the $150.

nowadays, most of the stuff is out of date, except maybe the grails.

Should be selling in the discount section for $15-20.
 
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