Is it worth it? Market Wizard LR

Discussion in 'Educational Resources' started by jpstocktrader, May 15, 2004.

  1. At the Chicago traders expo, Linda Raschke, LBD group will be presenting a seminar ($795) on short term trading. Does anyone have any experience attending one of her seminars in the past? Would buying her book and reading it have sufficed? Thank you.
  2. traderob


    Think about how much information is concentrated in a book. How long would it take to present all that? A seminar gives a nice boost, and some people like that, even though it wears off after a day or two; or if you don't like reading it is easy to sit and listen to a seminar.
    I was on LBR's chatroom and she is a good teacher, but her calls were breakeven at best.
  3. I took one of Linda's seminars in Anaheim California some years ago. I paid $795 I think. It was one of the best decisions I have made regarding my education. I remember that Linda was well prepared, and succinct and I learned a lot that day. In addition, the workbook continues to provide good value well after that seminar was over. My experience with her chat room was similar to Roberk's. In fact we may have been in the room at the same time. In all fairness, price action during that time was choppy and trendless for the most part, and I did not follow all her trades. As I remember it, she was able find more than a few excellent trades by simply remaining focused even when I was too tired or bored to continue. I think she offers good value for those who are observant and willing to work. In the interest of "full disclosure" I have had no further connection with Linda other than the experience I mentioned. Best Regards, Steve46

  4. I've never been to a Raschke seminar, or paid for any seminar for that matter, but my initial instinct is to say that you shouldn't go if you haven't read the book first.

    The point of having short term access to someone with a high degree of specialized knowledge is to expand on what you've already learned about the subject and hopefully ask some highly pointed questions, not get a first level introduction.

    It also depends on what $795 is worth to you, i.e. is that closer to your risk allowance for a month, a week, or a single trade? Are you expecting grand revelations that will catapult you into the next level of profitability or just looking for useful tune-up info?
  5. backman


    I attended Raschke's one day seminar at the Trader's Expo in NYC this year, after using a free trial some time last year in the stock room, and reading START SMARTS

    Chat room gave me a feel for her thought process, and studying STREET SMARTS took me further into it, so when I attended her seminar i was not blown away by lots of unfamiliar, well thought out stuff

    i went to the chat room for the educational part of it, and greatly enjoyed her intra-day discussions of market activity, etc

    and, yes, her seminar was worthwhile and, although I don't trade her setups, i would do the Chicago seminar in a heartbeat, as the opportunity to study with a sharp trader, whose ego doesn't come in front of her analysis/discussion is priceless..IMO
  6. Have only heard mostly positive things about LBD so my comments don't apply to her pre se. But in prior years I attended a few expos... and found that the time allotted to the seminars was insufficient for the purpose and material supposedly to be covered! I found that by the time the speakers gave their opening pitch, and background etc. there was little time left to get into any worthwhile "substance".

    Rather I believe in attending longer classes and seminars, and I did so many times in Chicago; and we're often talking 6-8 weeks where by time you finish... you had really been taught something of value, and could potentially moved into another category. With the exchanges here perhaps there are more classes available than in some other Cities.

    Of course every speaker is different; some have the ability to get right down to it and address the material in more depth than others while some engage in too much table talk Quite sure many know what I mean by saying that often the description of what is to be covered in the seminar that you will read in materials online or via postal mail for these Expos... pale in comparison to what you actually learn and hear about in the short seminar! My advice is get books, and keep an eye open for seminars/classes that are long enough to really impart some insight and value to the participants, particularly given the price.

    Final comment... obviously there is some value however small in all learning. And attending a 10 minute golf lesson with Butch Harmon may lower your handicap 3 strokes whereas 5 weeks with your local guy won't a notch. There are always pearls that one could uncover in Expos seminars; and this could put you on the right road... and perhaps make 'all the difference'!


  7. patoo


    Her thing is one to three day swings trading the big S&P or emini's using NYSE market internals as a roadmap. However, she does all the other liquid future markets on the side and is getting into single stocks.

    That's not quite my game, but close enough. So, I went to the NY Expo and attended the one day seminar. I thought: No big deal, a few tidbits to add to my game. She can sign my old copy of the Smarts book, etc.


    While the morning was slow (because she was trying to appeal to the newbie crowd too), the afternoon was intense and she snowed me.

    So, not to be out done, I spent three weeks learning her stuff which included joining the chat room.

    Then, I went to the big seminar in Chicago on 5/7/04. That was 21 hours of intense stuff. Pretty educated group. Bunch of guys already full time. The rest were wanna be full timers. There was at least one trader from the CME Naz pit looking to switch to emini screen trading.

    She shares everything. Hides nothing. Is patient with the dummies.

    Be aware that she teaches her method not a specific system. To those out there that have no experience, get out your check book if you want to follow her. It ain't gonna be cheap.

    While I don't buy everything she has to sell, it was worth it getting her perspective on how the market swings back and forth.
  8. Eat a big breakfast. Between the program and answering questions during breaks and long afterwards, she'll go 10 hours easy.

    Wish I had been better prepared with background on things she's written in book/articles which would have made handling the written materials and slides faster for me.

    She is an able teacher.

  9. Today is the last day to save $100 bucks on registration at the Chicago Expo...........any more comments would be greatly appreciated. Thank you.
  10. nitro



    This is so funny. "Sausage, rack them up."

    nitro :D :D
    #10     Jun 3, 2004