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The Little Book of Market Wizards
Lessons from the Greatest Traders
Jack D. Schwager (Author)
9781118858691, Wiley
Hardback, published 8 April 2014
208 pages
21.8 x 14.5 x 2 cm, 0.318 kg
An accessible look at the art of investing and how to adopt the practices of top professionals What differentiates the highly successful market practitioners—the Market Wizards—from ordinary traders? What traits do they share? What lessons can the average trader learn from those who achieved superior returns for decades while still maintaining strict risk control? Jack Schwager has spent the past 25 years interviewing the market legends in search of the answers—a quest chronicled in four prior Market Wizards volumes totaling nearly 2,000 pages. In The Little Book of Market Wizards, Jack Schwager seeks to distill what he considers the essential lessons he learned in conducting nearly four dozen interviews with some of the world's best traders. The book delves into the mindset and processes of highly successful traders, providing insights that all traders should find helpful in improving their trading skills and results. Stepping clearly outside the narrow confines of most investment books, The Little Book of Market Wizards focuses on the value of understanding one's self within the context of successful investing.
Foreword by Peter L. Brandt xi Preface xv Chapter One Failure Is Not Predictive 1 Chapter Two What Is Not Important 9 Chapter Three Trading Your Own Personality 15 Chapter Four The Need for an Edge 23 Chapter Five The Importance of Hard Work 27 Chapter Six Good Trading Should Be Effortless 35 Chapter Seven The Worst of Times, the Best of Times 41 Chapter Eight Risk Management 47 Chapter Nine Discipline 61 Chapter Ten Independence 69 Chapter Eleven Confidence 73 Chapter Twelve Losing Is Part of the Game 77 Chapter Thirteen Patience 83 Chapter Fourteen No Loyalty 93 Chapter Fifteen Size Matters 103 Chapter Sixteen Doing the Uncomfortable Thing 115 Chapter Seventeen Emotions and Trading 125 Chapter Eighteen Dynamic versus Static Trading 135 Chapter Nineteen Market Response 145 Chapter Twenty The Value of Mistakes 157 Chapter Twenty-One Implementation versus Idea 163 Chapter Twenty-Two Off the Hook 167 Chapter Twenty-Three Love of the Endeavor 173 Appendix: Options—Understanding the Basics 177 Notes 185 About the Author 189
Subject Areas: Finance & accounting [KF]
