The New Market Wizards: Conversations with America′s Top Traders: 95 Hardcover – 15 September 2008
Frequently bought together
..."they are the most highly readable investment books you will find...you'll find them riveting and fun..." (Shares, 10 October 2002)
..".they are the most highly readable investment books you will find...you'll find them riveting and fun..." (Shares, 10 October 2002)
From the Inside Flap
Praise for THE NEW MARKET WIZARDS
"Jack Schwager simply writes the best books about trading I've ever read. These interviews always give me a lot to think about. If you like learning about traders and trading, you'll find that reading this book is time well spent." --Richard Dennis, President, The Dennis Trading Group, Inc.
"Jack Schwager's deep knowledge of the markets and his extensive network of personal contacts throughout the industry have set him apart as the definitive market chronicler of our age." --Ed Seykota
"Very interesting indeed!" --John Train, author of The Money Masters
"Successful trading demands longtime experience because it requires firsthand knowledge. If there is a shortcut to this requirement, however, it is in reading about the experiences of others. Jack Schwager's book provides that shortcut. If you find yourself sweating upon occasion as you read, then you're as close to the trading experience as you can get without actually doing it yourself." --Robert R. Prechter, Jr., Editor, The Elliott Wave Theorist
"Are great traders born or do they acquire their skills on the way up? . . . The New Market Wizards provides some interesting insights." --The Wall Street Journal
"Provides unique insight into the arcane world of currency trading as well as other fast-moving markets such as options and commodities." --U.S. News & World Report
"Should be required reading for anyone who selects managers for institutional or even personal portfolios." --Futures Industry
No customer reviews
|5 star (0%)||0%|
|4 star (0%)||0%|
|3 star (0%)||0%|
|2 star (0%)||0%|
|1 star (0%)||0%|
Review this product
Most helpful customer reviews on Amazon.com
Reviewed in the United States on 3 July 2020
I gather are as follows:
1. Two secrets of trading success:
Preservation of capital and Home Runs.
2. It is not easy to buy a stock after you have sold it.
3. Use left brain for fundamentals and right brain for
imagination and story behind how a stock will soar.
4. Victor Sperando's goal in Wall Street is not to get
rich but to stay in business.
5. The key to success is not knowledge alone but
emotional discipline. The best analogy to this is
dieting. You know that to slim down, you need to
exercise and avoid fats. But the knowledge of this
does not make you slim. It is the discipline to do
it that counts.
6. Have a balanced life.
7. Do not buy a stock that is going down even if the
fundamentals are good. (when broking houses are
issuing 'buy' calls)
8. Never use valuation to time the market.
9. Be able to get over a loss in twenty four hours.
Otherwise, the position is too big.
10. Emotional makeup and discipline is more important
than IQ. (i.e. IQ is still important)
11. To win, you have to be the minority contrarian.
And the most important is this:
12. Watch idly when profit is running. When losing,
run like a jackrabbit. You do go broke taking a profit.
Let profits run!
I have a question here. How does one let profits run?
How does one know if the price will not reverse and
your profit turns into a loss?
These were the most amazingly informative and encouraging books I have read about trading.