Showing posts from October, 2017

Market Wiz(ar)dom

Source: The New Market Wizards by Jack D Schwager
Jack D. Schwager, after interviewing great traders, summarized his observations regarding success in trading as follows:
1. First Things First - be sure whether you really want to trade or not. 2. Examine Your Motives - examine your motives very carefully for any conflicts. The market is a stem master. You need to do almost everything right to win. If parts of you are pulling in opposite directions, the game is lost before you start. 3. Match The Trading Method To Your Personality - the approach you use must be right for you; it must feel comfortable. 4. It is Absolutely Necessary To Have An Edge - if you don't have an edge, all that money management and discipline will do for you is to guarantee that you will bleed to death. 5. Derive a Method - to have an edge, you must have a method. 6. Developing a Method is Hard Work - developing your own approach requires research, observation and thought. Remember that you are playing agains…

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