In this clip of top trader Linda Bradford Raschke's MoneyShow.com presentation, Linda takes you through the main points of your trading plan that you should have predetermined. This way, you won't have to make multiple decisions during the trading day and can focus on just executing the plan. Linda talks about:
- Predetermining your trade size - how many shares? how many contracts? how much money? how big is the bet size?
- Exits - where is your planned exit? what do you do with your stops?
- Entries - how to enter the trade? what types of orders to use in which environment?
About the Author Linda Bradford Raschke
Linda Bradford Raschke is President of LBRGroup, Inc., a registered CTA and money management firm and president of LBR Asset Management, a CPO. She began her professional trading career in 1981 as a market maker in equity options. In addition to running LBRGroup’s CTA program, she is the principal trader for the Granat Fund.
Ms. Raschke was recognized in Jack Schwager’s critically acclaimed book, The New Market Wizards, and is known for her own top selling book, Street Smarts – High Probability Short-Term Trading Strategies. She has been featured in dozens of financial publications, radio and financial television programs, and has served on the Board of Directors for the Market Technician’s Association and is currently Vice President of the American Association of Professional Technical Analysts.
Ms. Raschke has presented her research and lectured on trading for the Managed Futures Association, American Association of Professioanl Technical Analysists, Bloomberg, Market Technician’s Association, International Federation of Technical Analysis, Canadian Society of Technical Analysts, TAG, Omega World, International Online Trading Expo, AIQ, Futures Conference, Carlin Equities and has lectured in over 16 different countries for Dow Jones/Telerate.