1 The Story
The consistency of a pro
Linda Bradford Raschke is an American trader who has traded professionally since the early 1980s and was profiled in Jack Schwager's The New Market Wizards. She ran money as a registered advisor, compiling a long and remarkably consistent record before stepping back from managing client funds in 2015.1
With Laurence Connors she wrote Street Smarts (1996), a collection of short-term, pattern-based strategies — including 'Turtle Soup,' which fades failed breakouts — that blend momentum and mean reversion.2
2 The Big Idea
Consistency over any single system
Master a handful of repeatable patterns and trade them with discipline.
Raschke's edge isn't one magic setup — it's professional consistency: a small set of well-understood, short-term patterns, read off the tape and traded with tight risk, over and over. Reliability beats brilliance.1
3 The Method
Short-term patterns
A few patterns, mastered
Trade a small repertoire of well-tested setups rather than chasing every new idea.
Fade failed breakouts
'Turtle Soup' — when a breakout to new highs/lows fails and reverses back, trade the failure.
Tight risk, relentless discipline
Consistency comes from disciplined execution and risk control, not from any single trade.
4 Try It Today
Test the idea for yourself
A no-risk exercise
Find a chart where price poked to a new high (or low) and then quickly reversed back through the level. That's a failed breakout — Raschke's 'Turtle Soup.' Mark where you'd have entered the reversal and where the stop would sit just beyond the extreme.
5 The Books & Their Big Ideas
What they wrote — and what to take from it
6 Watch & Read
Go deeper
- CONCEPTSupport & Resistance (failed breakouts)
- PLAYBOOKTurtle Soup — the Failed Breakout (her reversal setup)
- READ"Linda Bradford Raschke" — Wikipedia.1
§ Sources
- "Linda Bradford Raschke," Wikipedia — en.wikipedia.org/wiki/Linda_Bradford_Raschke
- Raschke & Connors, Street Smarts (1996) — short-term pattern strategies including Turtle Soup.