You can buy the book here.
Too lazy to write that blog post about Linda Raschke's autobiography, "Trading Sardines," I'll just post excerpts I liked in this thread:
— C. Maoxian (@maoxian) July 11, 2019
"... most underestimate the time and energy required to achieve consistent profitability."
— C. Maoxian (@maoxian) July 11, 2019
When her trading fund reached $145 million, "It was difficult putting more monies to work with my current style of trading."
— C. Maoxian (@maoxian) July 11, 2019
"Don't trade when tired. PERIOD."
— C. Maoxian (@maoxian) July 11, 2019
"... sleep is the most important thing for one's health -- more important than diet and exercise."
— C. Maoxian (@maoxian) July 11, 2019
"Fix mistakes immediately."
— C. Maoxian (@maoxian) July 11, 2019
"Don't look at the P&L, look only at the price structure and trade it."
— C. Maoxian (@maoxian) July 11, 2019
"The best trades are often making back losses."
— C. Maoxian (@maoxian) July 11, 2019
After a series of losses, "It is a matter of faith that your routine and rituals will eventually give you the edge again."
— C. Maoxian (@maoxian) July 11, 2019
"Jesse Livermore has a quote, 'Sell down to the sleeping point.'"
— C. Maoxian (@maoxian) July 11, 2019
"I made sure my daughter had no interest in trading."
— C. Maoxian (@maoxian) July 11, 2019
"... brainwash the mind and it will believe. Tell it enough bullshit and it believes."
— C. Maoxian (@maoxian) July 11, 2019
"The first course of action in a bloodbath is always to get smaller."
— C. Maoxian (@maoxian) July 11, 2019
"... figure out the [loss] level where you can function [not getting frozen or stressed] and [you will] trade freely...."
— C. Maoxian (@maoxian) July 11, 2019
"[There is] one simple rule: never let a loss get too big."
— C. Maoxian (@maoxian) July 11, 2019
"A sharp mind needs a fit body."
— C. Maoxian (@maoxian) July 11, 2019
"... an excess of cash on the sidelines [is] the number one variable in my book that drives trends."
— C. Maoxian (@maoxian) July 11, 2019
"Time-based exits are not dependent on the range or volatility conditions, and they are robust."
— C. Maoxian (@maoxian) July 11, 2019
"Following a process systematically is essential."
— C. Maoxian (@maoxian) July 11, 2019
"'Don't eat like a bird and shit like an elephant,' i.e., don't take small wins and big losses."
— C. Maoxian (@maoxian) July 11, 2019
"No profit is yours until it is locked in."
— C. Maoxian (@maoxian) July 11, 2019
"Winners admit errors."
— C. Maoxian (@maoxian) July 11, 2019
"... eliminate all the distractions and wasted time engaging in frivolous activities." [ed. except for TWTR :-)]
— C. Maoxian (@maoxian) July 11, 2019
"Concentration is the key to everything. Learn to concentrate specifically on the task that is at hand."
— C. Maoxian (@maoxian) July 11, 2019
"If your goals are not written down, they are worthless."
— C. Maoxian (@maoxian) July 11, 2019
"The lure [of] the short side [is] markets [go] down a lot faster than they [go] up ... measure profits [by] dollars made per unit of time."
— C. Maoxian (@maoxian) July 11, 2019
"Trade location is essential when trading on a shorter time frame +
— C. Maoxian (@maoxian) July 11, 2019
" + [whereas] the most important thing with a longer-term trend following approach [is] to get the trade on."
— C. Maoxian (@maoxian) July 11, 2019
"... a big part of trading [is] putting in a lot of work without much to show for it."
— C. Maoxian (@maoxian) July 12, 2019
"The principles in [my book, 'Street Smarts,' written in 1996] remain the same." | [ed. One of the top ten trading books in my collection for sure.]
— C. Maoxian (@maoxian) July 12, 2019
"... the market is NEVER wrong."
— C. Maoxian (@maoxian) July 12, 2019
"... the best trade is a failed seasonal."
— C. Maoxian (@maoxian) July 12, 2019
"... the markets cannot be reliably won with raw intelligence."
— C. Maoxian (@maoxian) July 12, 2019
"If the Pritzkers had money with me, everyone had to have money with me."
— C. Maoxian (@maoxian) July 12, 2019
"I funded 16 different trader over three decades, and only one ever made money -- Bob Buran (@StockBrain99). So, I don't back traders anymore."
— C. Maoxian (@maoxian) July 12, 2019
"There is no more glorious feeling in the world than capturing a huge trend day. My first seven-digit day came from a short position in the SPs."
— C. Maoxian (@maoxian) July 12, 2019
"Have backup accounts and backup brokers."
— C. Maoxian (@maoxian) July 12, 2019
"... if you don't have other things in your life, you will get obsessed with the stimulation. Then it is not a career or a passion, it's an addiction."
— C. Maoxian (@maoxian) July 12, 2019
"It's hard to take advantage of the opportunities that the opening provides when you are still figuring out what to do with a losing position."
— C. Maoxian (@maoxian) July 12, 2019
"Emotional control is paramount in trading and poker."
— C. Maoxian (@maoxian) July 12, 2019
"[You] are going to be wrong a percentage of the time. What do you have to do to stay strong psychologically?"
— C. Maoxian (@maoxian) July 12, 2019
"... every statement I make about trading can be applied to poker, and vice versa. There is no right or wrong way to 'trade.'"
— C. Maoxian (@maoxian) July 12, 2019
"... discard everything that is not of value: too much data, outside sources, TV, and internet surfing. Kill the distractions..."
— C. Maoxian (@maoxian) July 12, 2019
"A good trade works right away and never looks back."
— C. Maoxian (@maoxian) July 12, 2019
"It's not a great idea to hold a loser overnight."
— C. Maoxian (@maoxian) July 12, 2019
"On the ideal trend day, get long, stay long, and scalp every continuation pattern. Exit on the close."
— C. Maoxian (@maoxian) July 12, 2019
"... my first 100% mechanical system['s] ... stop was three times as great as the target but the win rate was 85%."
— C. Maoxian (@maoxian) July 12, 2019
"You can't predict ... where the big wins are going to come from -- just keep taking every system signal."
— C. Maoxian (@maoxian) July 12, 2019
"... my experience gives me an edge. ... it's hard to muster the necessary confidence in a system unless you develop it yourself."
— C. Maoxian (@maoxian) July 12, 2019
"NEVER believe any claim a trader makes about their profitability unless you see their statements or they are a registered entity with an audited record."
— C. Maoxian (@maoxian) July 12, 2019
"This business is crawling with people waiting to sell you a bridge."
— C. Maoxian (@maoxian) July 12, 2019
"Successful traders follow a disciplined methodology. They do not allow large losses. This is the number one rule."
— C. Maoxian (@maoxian) July 12, 2019
"... you will always do your best work when you are free from distractions and the influence of others."
— C. Maoxian (@maoxian) July 12, 2019
"Cinch your profits as the market gives them to you."
— C. Maoxian (@maoxian) July 12, 2019
"... trading out of [your] home, [you will be] in desperate need of the camaraderie from a community."
— C. Maoxian (@maoxian) July 12, 2019
"When you are trading the markets, you have to have a separate source of happiness...."
— C. Maoxian (@maoxian) July 12, 2019
"I believe in positive thinking and the power of visualization."
— C. Maoxian (@maoxian) July 12, 2019
"Trading is like tennis: Keep the ball in play, don't make unforced errors, be patient, and wait for your opening."
— C. Maoxian (@maoxian) July 12, 2019
"I do best when I stick to technicals based on the price."
— C. Maoxian (@maoxian) July 12, 2019
"Averaging a loser is the worst strategy a trader can adopt, especially if one gets away with it."
— C. Maoxian (@maoxian) July 12, 2019
Trading is "about positioning yourself so that, once in a while, you might get lucky."
— C. Maoxian (@maoxian) July 12, 2019
"It's never a problem getting into a market; it's always a problem getting out when you need to." [ed. incl. #StuckAtaProfit]
— C. Maoxian (@maoxian) July 12, 2019
"All lessons [are] learned the hard way."
— C. Maoxian (@maoxian) July 12, 2019
"'How do you know where to put in a stop?' I asked. 'How much money do you want to lose?' he answered."
— C. Maoxian (@maoxian) July 12, 2019
"There [is] always a protective stop resting in the market. ... Never risk more than you want to lose."
— C. Maoxian (@maoxian) July 12, 2019
Thus end my selected tidbits from Linda Raschke's autobiography, which I encourage you to order here: https://t.co/XsuMSj9hmq
— C. Maoxian (@maoxian) July 12, 2019