LINDA RASCHKE

Raschke grew up in the San Francisco Bay Area and developed an interest in markets through her father, who traded commodities. She studied music and economics at Occidental College and after graduation got a job as an options market maker on the Pacific Stock Exchange floor in 1981.

She learned to trade through the experience of being on a live floor — reading order flow, reading other traders, understanding momentum in real time.

She traded options on the floor through the early 1980s, then transitioned to futures trading — S&P 500 futures, interest rate futures, and commodity futures — in the mid-1980s. In 1992 Jack Schwager featured her in "The New Market Wizards," which brought her a wider audience.

She went on to run LBR Group, a commodity trading advisor, from the 1990s through the 2010s. She now trades her own capital and shares her analysis publicly.

LBR Group was her commodity trading advisory firm, which ran managed accounts for institutional clients from roughly the 1990s to the mid-2010s. She managed hundreds of millions in client capital during the firm''s peak years.

The firm closed to outside investors as she shifted focus to her own capital and to public trading education.

She maintains an active presence on social media and through her website, sharing daily market commentary and chart analysis. She is one of the few traders of her generation who adapted successfully to the digital media environment — posting trade ideas, sharing setups, and maintaining an audience of serious traders who follow her technical read of markets in real time.

Raschke is a short-term technical trader. She works primarily with momentum, mean reversion, and pattern recognition across time frames ranging from intraday to several weeks.

She is not a long-term investor. She does not have views on company fundamentals.

She trades price behavior — what the market is doing right now, where the momentum is, where the natural support and resistance levels are.

She has written and spoken extensively about specific technical setups: the Holy Grail setup (a pullback to the 20-day moving average in a trending market), the 80-20 rule (when markets open at or near one end of the previous day''s range, they tend to reach the other end), and various momentum oscillator signals. Her edge is pattern recognition built from decades of watching markets.

There is no single trade that defines Raschke the way Black Monday defines Paul Tudor Jones. Her edge has always been consistency over time rather than one spectacular call.

She has compounded profitably for over four decades using short-term strategies — a track record that most traders cannot come close to matching even over ten years. Being featured in "The New Market Wizards" alongside macro legends was itself a validation of a decade of consistent performance that Jack Schwager verified before including her.

Raschke has been candid about the transition from floor trading to screen trading in the 1990s as a genuine adjustment — the informational advantages of a floor trader largely disappeared when markets moved electronic. She has also discussed the challenge of adapting to algorithmic markets, where many short-term patterns that worked in the 1980s and 1990s are either more crowded or have disappeared.

Her willingness to keep learning and adapting is what has kept her relevant.

Raschke believes that markets have consistent behavioral patterns because humans have consistent psychological patterns. Momentum, mean reversion, and overreaction are not random — they reflect greed, fear, and herd behavior, which do not change.

Her philosophy is that a trader''s job is to have a better model of short-term market behavior than the average participant, and to execute that model consistently with strict risk control. She does not believe in predicting direction with certainty.

She believes in finding setups where the probability distribution is skewed in her favor.

Raschke keeps her personal life private. She has spoken about the challenge of balancing a trading career with family life and has noted that screen-based trading eventually made that balance more manageable than floor trading.

She is active on Twitter/X and posts market analysis regularly, giving her a public presence that is focused entirely on markets rather than on personal narrative.

Occidental College, BA in Music and Economics, 1981. She has cited her music background as useful for pattern recognition — both music and technical analysis involve seeing structure and patterns in sequences.

She got her real education on the floor of the Pacific Stock Exchange, which she describes as the best trading school that ever existed.

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