The TraderLion Podcast

The 10 Lessons Part Time Traders NEED to Learn to be Successful - From Market Wizard Linda Rashke

40 snips
Apr 25, 2026
Linda Bradford Raschke, a 45-year market veteran, Market Wizard and founder of LBR Capital Management. She explains how to trade part-time by treating trading as a hobby, narrowing to one or two strategies, and keeping strict process and record-keeping. Short time-of-day plays, disciplined position sizing, and resisting overtrading are highlighted through vivid trader case studies.
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ADVICE

Treat Trading As A Hobby First

  • Take the pressure off making money by treating trading as a hobby first to remove performance anxiety.
  • Linda says shifting to a hobby mindset restores enjoyment and lets you study and build skills without needing immediate income.
INSIGHT

Behavior Trumps Execution In Losing Trades

  • Behavioral patterns, not execution errors, usually cause drawdowns like chasing crowds and excessive trading.
  • Linda highlights De la Vega's 1688 observations: herd behavior, overconfidence, regret aversion, and excessive trading still drive modern losses.
ADVICE

Separate Trade Management From Risk Management

  • Separate trade management from risk management: set initial stops and trade rules, then size positions to control portfolio risk.
  • Linda stresses initial stop placement, trailing rules, and portfolio-level sizing as distinct responsibilities.
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