I handle losing streaks by trimming down my activity. If mere is any lesson I have learned in the nearly twenty years that I've been in this business, it is that the unexpected and the impossible happen every now and then. For me, market analysis is like a tremendous multidimensional chess board. Aug 09, Terry Kim rated it it was amazing.
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Are you implying that some people actually want to lose on a subconscious level because it fullfils some other positive intention? They are strong, independent, and contrary in the extreme. Aug 12, Michael McGee rated it liked it. Not only does this book cover a wisards variety of trading techniques, it also covers a wide variety of markets as well treasuries, futures, commodities etc.
The only thing that disturbs me is poor money management. The most valuable feature of the interviews was the wizarcs patterns in thinking found amongst these traders.
And all because of one trade. Must read for anyone that is looking to improve their trading. The subjects of the interviews are some of the best traders in the U. Just as a proffesional poker player knows how to play the odds to his favor, top traders know their craft.
While you are in, you can't think.
Goodreads helps you keep track of books you want to read. The most kack is discipline — I am sure everyone tells you that. To give hope, guidance, or warning. That said, there are nuggets of wisdom in each and every interview, and it shines through that Schwager has an extensive background from professional investing himself.
I know from studying history that credit eventually kills all great societies. Always question yourself and your ability.
Aug 23, Erick Winkler rated it really liked it. Nowdays people want to learn from forumes and youtube videos from the so-called "gurus" or "High impact members" etc. Learn from your mistakes. Don't think in terms of boundaries that limit what the market might makret. There is another point that I think is as important: The second you do, you are dead.
Market Wizards by Jack D. Schwager
One common thread however but not absolutely universal was the belief that one must be willing to take losses in stride in order to win. After a markrt loss, I always play very small and try to get black ink, black ink.
The makret contain a mixture of facts about the trading careers of the interviewees, their philosophy, and many trading anecdotes. If the stocks that have been leading the bull market start breaking down, that is a major sign the market has topped.
A must read for any serious investor. Paperbackpages.
Market Wizards - Wikipedia
The most important rale of trading is to play great defense, not great offense. It is mass psychology, greed, and fear. Inwe became a debtor nation for the first time since The summations at the end of the interviews were as valuable as the interviews themselves.
First, I would say that risk management is the most important thing to be well understood. All the interviewees are traders in either or several of these areas.
And you want to know something? For example, viewing trading Market Wizards is a collection of interviews conducted by Jack Schwager, an excellent and knowledgeable investor himself.