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Description of Market Wizards

How do some of the world's most successful traders amass millions of dollars in a year - or sometimes in hours? Are they masters of a priceless wizardry or simply the very lucky winners in a random market lottery that allows only a few players to become fantastically wealthy? What are the secrets of their unheard-of successes?

After interviewing top traders in a variety of markets, market expert Jack D. Schwager concludes that while method undoubtedly accounts largely for trading success, no one approach is used by all, or even most, of the traders interviewed.

Even more interesting is Schwager's finding that, as great a role as method plays, it must be accompanied by the 'proper' mental posture - a notion that surfaces frequently in the interviews. The secret seems to have more to do with personal attitude than with approach. What mental disciplines, what emotional responses, what intangible ingredients make these top traders so mysteriously effective? What enables them to work financial magic while so many others walk away losers?

MARKET WIZARDS allows the reader to delve into the minds of these professional traders. It explains the very elements of their success .... different approaches used in different markets .... trading rules that each of them adhere to .... personal advice for other traders.

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Title Information

ISBN:

9781592802975

Pages:

458 pages

Format:

Hardback

Product Code:

23262

Publisher:

Marketplace Books

Published:

02/01/2006

Financial Guru Reviews

For me, this was a life changing publication and the market wisdom that runs through the numerous interviews with the world's top traders is as applicable today as it was over 15 years ago when it first hit the bookstores. If you only want to purchase one book on trading and investing, this is the one! It is a mine of information whether you are short or long term, trader or investor, believer or sceptic and that's why it is one of the books I present to every attendee of "The New Investor Workshop".
Mark Shipman

Press and Industry Reviews

"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

"Its difficult enough to develop a method that works. It then takes experience to believe what your method is telling you. But the toughest task of all is turning analysis into money. If you don't believe it, try it. These guys have it all: a method, the conviction and the discipline to act decisively time after time, regardless of distractions and pressures. They are heroes of Wall Street, and Jack Schwager's book brings their character vividly to life."
- Robert R. Prechter, Jr., Editor of The Elliott Wave Theorist

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Contents of Market Wizards

Part I: Futures and Currencies

Taking the Mystery out of Futures
The Interbank Currency Market defined
Michael Marcus: Blighting never strikes twice
Bruce Kovner: The World Trader
Richard Dennis: A Legend retires
Paul Tudor Jones: The Art of Aggressive Trading
Gary Bielfeldt: Yes, they do trade T-Bonds in Peoria
Ed Seykota: Everybody gets what they want
Larry Hite: Respecting Risk


Part II: Mostly Stocks

Michael Steinhardt: The Concept of Variant Perception
William O'Neil: The Art of Stock Selection
David Ryan: Stock Investment as a Treasure Hunt
Marty Schwartz: Champion Trader


Part III: A Little Bit of Everything

James B. Rogers, Jr.: Buying Value and selling Hysteria
Mark Weinstein: High-percentage Trader


Part IV: The View from the Floor

Brian Gelber: Broker turned Trader
Tom Baldwin: The fearless pit trader
Tony Saliba: 'One-Lot' triumphs


Part V : The Psychology of Trading

Dr. Van K. Tharp: The Psychology of Trading
The Trade: A Personal Experience
Postscript: Dreams and Trading


Final word

Appendix 1: Program Trading and Portfolio Insurance
Appendix 2: Options - Understanding the Basics
Glossary