Market Wizards: Interviews with Top Traders

Market Wizards: Interviews with Top Traders

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Author: Schwager, Jack D.

Brand: Wiley

Edition: 1

Features:

  • It can be a gift option
  • Comes with secure packaging
  • Easy to read text

Binding: Paperback

Number Of Pages: 512

Release Date: 07-02-2012

Part Number: 34447932

Details: Product Description The world's top trader's reveal the secrets of their phenomenal success!  How do the world's most successful traders amass tens, hundreds of millions of dollars a year? Are they masters of an occult knowledge, lucky winners in a random market lottery, natural born virtuosi―Mozarts of the markets? In search of an answer, bestselling author Jack D. Schwager interviewed dozens of top traders across most financial markets. While their responses differed in the details, all of them could be boiled down to the same essential formula: solid methodology + proper mental attitude = trading success. In Market Wizards Schwager lets you hear, in their own words, what those super traders had to say about their unprecedented successes, and he distils their responses down into a set of guiding principles you can use to become a trading star in your own right.  Features interviews with superstar money makers including Bruce Kovner, Richard Dennis, Paul Tudor Jones, Michel Steinhardt, Ed Seykota, Marty Schwartz, Tom Baldwin, and more Tells the true stories behind sensational trading coups, including the one about the trader who turned $30,000 into $80 million, the hedge fund manager who's averaged 30 percent returns every year for the past twenty one years, and the T bond futures trader who parlayed $25,000 into $2 billion in a single day! "Market Wizards is one of the most fascinating books ever written about Wall Street. A few of the 'Wizards' are my friends―and Jack Schwager has nailed their modus operandi on the head." Martin W. Zweig, Ph.D., Editor, The Zweig Forecast Amazon.com Review Q & A with Jack D. Schwager, author of Market Wizards: Interviews with Top Traders More than twenty years have passed since the first edition of this book was released. Is it as relevant today as it was then? Absolutely. Markets may change and the specific techniques or systems that work best may change, but the underlying core principles that lead to trading success stay the same. And there is a good reason for that. Through all periods, market price moves reflect some combination of underlying fundamentals and human behavior. Since human nature doesn't change, the market's basic behavioral patterns don't change either. I believe that every conclusion I reached about the factors important to trading success in the first edition remains equally valid today. Perhaps the best testament to the continued relevance of Market Wizards in today's markets is that so many of the managers I meet who read the original edition early in their careers make it required reading for new traders in their organization. Has trading fundamentally changed with the rise of the quants and algorithmic traders? The growing role of algorithmic trading may have eliminated some market inefficiencies as sources of profitable strategies, and it may even have impacted the efficacy of some trading systems, but I don't believe it has changed fundamental market behavior. The same basic concepts that are critical to trading success remain as valid now as they were a generation ago when computerized trading was in its infancy. What are these basic concepts? Well that's what this book is all about. But to offer one example, I believe that developing a trading methodology that fits your personality, as opposed to seeking someone else's approach, is an absolutely critical element to succeeding as a trader. Why do most traders fail? There are many reasons. They seek easy answers. They listen to "experts" and chase trading fads instead of doing the hard work of developing their own methodology. They focus almost all their energy on determining trade entry points and all but ignore the more critical questions of trade exit and risk management. They listen to other people. These are a few of the reasons. Readers will find a lot more in the book. Which trader interview in the book has been the most popular? Readers will often tell me that a cer

EAN: 9781118273050

Package Dimensions: 9.1 x 5.9 x 1.4 inches

Languages: English

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