Linda Rasсhke is definitely a unique trader. She was starting up as a professional stock exchange speculator when women were not considered as serious financial markets' participants. She proved the world that trading is not exceptionally men’s occupation. In a very short time she became a talented technical trader and analyst, created a great number of professional trading systems and methods of analysis which are even now up-to-date and useful.
Moreover, Linda Raschke is an outstanding trader and money manager, as she had no lossmaking year within the last 3 decades. This result is the record showing that Linda Raschke is a well-educated trader able to apply knowledge in her work successfully and to masterfully adapt to cyclic character of market changes.
In 1996 Linda Raschke and Larry Connors wrote a book Street Smarts. This book is written in the form of a dialogue between two professional technical traders who discuss trading systems, methods of profit and loss fixing, stable trading, providing examples of strategies and trading systems applied to various financial assets and results of trades performed according to certain models.
A lot of models, which were described by Linda Raschke in the book, were known before, however, after the publication of the book these methods became very popular, thus sometimes people consider her the author of trading methods, described in the book, which is not quite correct: Linda merely adjusted these techniques to financial markets of that time. Among other trading tactics there are such patterns as Three Indians, Wolfs Waves, Range Expansion which allow to catch illicit traders at the time of non-clever entering the market going away; Double Stop Point, etc. these patterns were known long ago, but Linda Raschke gave them a new life by adding rules of use and numerous examples.
Among the most popular methods mentioned in the book Street Smarts one can find a strategy Holy Grail, which enables earning considerable profit along with the developing trend, and the author gives a clear answer on how to detect the trend and open a trade in this direction.
We cannot but add about two more wonderful trading strategies, which offer good possibilities for earning on any type of the market in midterm prospect. These are the models known as Turtle Soup and Turtle Soup Plus One, which are opposite to classical puncture methods of Turtle trading by Richard Dennis and William Eckhardt. Linda Raschke has worked out these models to level flat dynamics of price changes, which can hurt puncture strategies if no trend is present on the market.
So the book Street Smarts is one of the most useful for traders, who are on their way to form a trading strategy of their own. Despite the publication of the book in 1996 and a lot of changes in Linda Raschke’s trading the patterns and strategies discussed in it remain up-to-date for working on Forex and on other financial markets.