NEW MARKET WIZARDS

The New Market Wizards is a timeless classic. Jack Schwager does a brilliant job revealing the mindset, discipline, and strategies of some of the world’s top traders. What makes it special is how each interview uncovers not just trading tactics, but the psychology behind consistent success. Whether you trade stocks, options, or futures, this book is full of insights that can completely change the way you think about markets. Highly recommended for anyone serious about improving their trading game.

I've been looking forward to have this book on my hands!!!!! 👏🏻

New Market Wizards is worth a read. Some points that 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?

5 out of 5 because the book is exactly as described. Interviews with market wizards, people who have made it in the market and talk about it in detail; some more than others. Jack having been a trader himself know what to ask and has good follow up questions. They also talk about how it all began, other parts of life that were trying and from back in the pit days. A must read for who wants guidance and assurance from the best traders in building a trading system, be it fully automatic or discretionary. The book covers technical aspects of trading, market tone, fundamental approaches, arbitraging, trend-following, psychological... there's even a chapter about hypnosis... fantastic!

After the hundreds of trading books I have read I still consider Jack Schwagers Market Wizards Series the best of the best. Why? His trading books are not based on theories, opinions, predictions, or beliefs, he goes down a completely different path. His books are based on interviewing the very best traders in the world, the ones with the very best returns year after year, the millionaires, the traders that trade for a living. The New Market Wizards book gives you an up close look at how rich traders were able to find and master a trading style that fit their personality and allowed them to beat the market year after year. If you read this book carefully and pay attention you should find some trading principles that are gems that could revolution your trading. I know his books have done that for me. If other trading books are like letting you see a trader's trading plan then Schwagers books are like allowing the reader to see directly into the mind of the rich trader. I would put this book on my top ten must read trading books.

After reading both Market Wizards and The New Market Wizards I see there is more potential in trading for me. One big encouragement I gleaned from both of these books is that there are many methods that were successful for the all time great traders and their recommendation to new traders is to learn your own way of trading that gives you an edge. Then don't listen to all the "talking heads" or friends and family. Just study and learn what you can then find and tweak your edge. Then follow your plan so you can remove emotions. These were the most amazingly informative and encouraging books I have read about trading.

It's hard to find a good investment book to fill the young mind. I am 19 and I like investing and finance. This is by far the best book I have ever read about investing. It doesnt teach you patterns or little tricks, but simply tells you about Wall Street's best stories, trades, and multiple traders strategies and how they did what they did to become successful. If you like hedge funds this is a must read if you like investing READ THIS. You will not find a better book about Wall Street other than this book. True Story ;)

honestly, i expected more from this book. Strongly recommend Jack Schwager's fist book "Market wizards". In that book interviewed traders talk more about their trading strategies while in the second book "new market wizards" they just talk about their experience which less useful for us as readers.

Leitura muito bom , mas faltou ser traduzindo em português ..

Hours of conversations and several keys of the top American traders. Highly recommendable book although it was written in the 90s

Nice book

Excelente libro, hubiera estado con madres las letras mas grandes o de mayor fuente dirian

great book