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Pat Crawley

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How Linda Raschke Approaches the Market Open

Posted by Pat Crawley on January 19, 2020

Linda Raschke is a futures trader who has been through it all. Bull markets, Bear markets, the takeover heydays of the 1980s, the low volatility grinding post-GFC. She started as a floor trader, traded 'upstairs' from the floor, managed money for decades, and now trades from home in her 'semi-retirement.' If you ask Adam Grimes, whom we profiled last week, the vast majority of floor traders who tried to adapt to electronic trading failed desperately. 

Linda’s trading career got started almost by mistake. She landed her first job after college at a broker-dealer that happened to be across the street from the late Pacific Coast Stock Exchange in San Francisco. Due solely to her curiosity, she began hanging out there before work and scoping out what the hell was going on. The floor traders took a liking to her, and eventually, she got staked for $25,000 and became a floor trader. Not long after, she went bust buying short straddles on Cities Services (Citgo) before a takeover bid. 

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Topics: Trading Psychology, Futures, Linda Bradford Raschke, Trading Education, Adam Grimes

Going Deep on Adam Grimes’ Approach

Posted by Pat Crawley on January 07, 2020

Adam Grimes is one of the best-known figures in trading media. He’s the author of The Art and Science of Technical Analysis and created a free trading course called The Art and Science of Trading. Adam is primarily a trader of the major futures contracts but will take a trade in any market that presents an opportunity.

Adam's first foray into trading was through a guru who taught his students to apply Martingale betting systems to agricultural futures. Armed with the guru's system and his knowledge of agriculture owed to growing up on a farm, Adam thought he had struck it rich. Until he blew up his account. According to Grimes:

“No matter where somebody were to start, you can’t start worse than I did.” 

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Topics: Trading Psychology, Futures, Linda Bradford Raschke, Trading Education, Adam Grimes

The Complete Beginner's Guide to Market Internals

Posted by Pat Crawley on December 08, 2019

Looking at market internals is like looking under the hood of a car. From outside the vehicle, you can see a lot. If the car is making odd noises, if smoke is emitting from the exhaust pipe, and so on. But to know what is going on with the engine, you have to pop the hood. The same is true of the stock market.

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Topics: Trading Plan, Futures, E-Mini S&P, Stocks, Indicators

3 Indicators ES Traders Need to Watch

Posted by Pat Crawley on December 01, 2019

The SierraChart platform alone has about 400 technical indicators, with hundreds more available to purchase from third-party vendors. Beyond the realm of technical indicators, you can use other securities or indexes as an indicator for the security your trading.

The point I'm trying to get across here is that the signal-to-noise ratio in the trading world is abysmal. At each corner you turn, someone is trying to sell you an indicator, a system, alerts, chat rooms, and so on. Just a handful of these tools of the thousands of options you have are valuable.

In this article, we look at three indicators that /ES traders can use to reduce the noise they experience from indicator overload: VWAP with standard deviation bands, the TICK index, and market profile.

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Topics: Trading Plan, Futures, E-Mini S&P, Stocks, Indicators

Stocks vs. Futures: A Guide for Retail Traders

Posted by Pat Crawley on November 17, 2019

Most of us start our trading journey with stocks. It's the most obvious choice because it's the only financial product that most of the general population understands. Our parents might have had shares, we learned about stocks in our high school economics class, and we're familiar with many of the largest companies in the stock market like Apple, Google, and ExxonMobil.

Of those traders who stick it out long enough to learn about other products, such as futures, many end up making the move away from stocks.

If you're considering moving from stocks to futures, it's worth understanding the differences between the two products so you can practically make the transition without surprises or regrets.

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Topics: Trading Plan, Futures, Stocks

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