Seeing It How The Pros See It
There was an interview with Linda Bradford Raschke in the Feb issue of Technical Analysis of Stocks & Commodities magazine. Anything that Linda has to say about trading is worth noting, as despite her young age, she is one of the deans of the trading industry here in Chicago.
I found the interview refreshing in that her answers were simple and very straightforward. One quote really stood out. After Jayanthi — TAofS&C Editor — commented “Everything you have said is really basic. There’s no complicated system or anything”. Linda’s response was “That is how trading should be. People mess up their heads with all the gobbleygook. It should be the market in its simplest form. Price is either in a trend or not, it has got support or resistance levels, and is either increasing or decreasing in momentum. That is going to provide the backbone for any trading strategy”.
That statement is very significant because it is directly from the mouth of someone who knows. I have seen it time and time again in this business where the people who know what they are talking about tend to be plain spoken and have an almost neighborly quality about them. And it is this simplicity and straightwordness that you need to have spelled out in your own trading plan.
To attend a complimentary trading webinar given by Jay go to: https://www2.gotomeeting.com/register/563559658
DISCLAIMER: Futures, options and Forex (off-exchange foreign currency futures and options, or “FX”) trading involves substantial risk of loss and is not suitable for every investor. The valuation of futures, options and Forex may fluctuate, and, as a result, clients may lose more than their original investment.