Location: Home > Biography > Futures > Market Wizards: Interviews with Top Traders

Market Wizards: Interviews with Top Traders

Author: Jack Schwager
Publisher: Marketplace Books
Category: Book

List Price: ~~Ł10.99~~
Buy New: Ł6.51
You Save: Ł4.48 (41%)

New (12) Used (7) from Ł6.51

Rating: 4.5 out of 5 stars

19 reviews
Sales Rank: 20136

Media: Hardcover
Number Of Items: 1
Pages: 457
Shipping Weight (lbs): 1.7
Dimensions (in): 8.7 x 6.2 x 1.5

ISBN: 1592802974
Dewey Decimal Number: 332
EAN: 9781592802975
ASIN: 1592802974

Publication Date: February 2, 2006
Availability: Usually dispatched within 1-2 business days
Shipping: International shipping available
Condition: Brand New, Perfect Condition, Please allow 4-14 business days for delivery. 100% Money Back Guarantee, Over 1,000,000 customers served.

Also Available In:

•	Paperback - Market Wizards: Interviews with Top Traders
•	Hardcover - Market Wizards: Interviews with Top Traders (New York Institute of Finance)
•	Paperback - Market Wizards: Interviews with Top Traders

Similar Items:

•	The New Market Wizards: Conversations with America's Top Traders
•	Way of the Turtle: The Secret Methods that Turned Ordinary People into Legendary Traders
•	Reminiscences of a Stock Operator (A Marketplace Book)
•	Come into My Trading Room: A Complete Guide to Trading (Wiley Trading)
•	Trend Following: How Great Traders Make Millions in Up or Down Markets

Customer Reviews: Read 14 more reviews...

4 out of 5 stars

A fascinating insight into how traders made their fortune April 11, 2008
This gives a very interesting lowdown on how some the world's greatest traders made their fortunes. It's not particularly educational in terms of using the information for your own trading strategy due to many of the traders giving conflicting opinions. For instance, some of the traders are purely fundamental and hate technical analysis, whereas some use just TA and hate fundamental analysis. None of the traders give away any of their secrets, they only talk in very general terms about the sort of techniques they use. I was also disappointed that everyone interviewed all came from a financial background, it would have been more inspirational for new traders if Schwager had interviewed a trader who had no financial background whatsoever and had to learn trading from the bottom.

So if you want to learn about trading techniques from the masters then this book won't give you that, but it will give a fascinating account of how these traders became successful.

4 out of 5 stars

Not really instructional but some good stories worth a read. November 23, 2007
This book isn't really going to teach you much. Sure there's a few lessons here but to be honest the majority of readers of this book will be wannabe Day Traders or Day Trading currently and won't ever be in the position to worry about Institutional dilemma's. Really this book is what I would term a hobby filler. You know... the kind of book you read when you're doing something new and you're interested and want to keep the enthusiasm alive. Sort of like buying the book of '100 Great Fishing Tales' if you've just discovered fishing. That's not to say the book is a waste of time as it isn't .... it's a really good read. Buy it. For fun.

5 out of 5 stars

The reputation is well deserved November 23, 2007
2 out of 2 found this review helpful

Back in 1997, a friend and colleague introduced me to the markets for the very first times, futures markets at that. He told me that to become a successful trader, I needed to read far and wide. I was given, as an introduction, two suggestions, "Reminiscences of a Stock Operator" and anything by Jack D Schwager. I got hold of the first one ok (an awesome book, read in one day on a cold wet day at Phillip Island) but the other never made the priority. Until now, nearly ten years later. I grabbed Schwager's three volumes on the "market wizards" in one fell swoop and after reading this volume can't believe I never purchased it earlier. Whilst the trading scenarios are now dated the insights into trading are very relevant and I gleaned many insights into trading that had previously eluded me. Schwager's interview style and writing ability is first rate (for an American), and I enjoy his laid back, humourous approach. This is a valuable volume and a must for all serious traders.

3 out of 5 stars

A primer on key beliefs and fallacies held by professional and lay traders September 12, 2006
14 out of 16 found this review helpful

Market Wizards is the first in a series of three edited collections of interviews of professional traders with fellow trader Jack Schwager. The latter has already earned a reputation as the author of a comprehensible and comprehensive guide to financial futures trading. This book reproduces the first set of interviews taken around 1988 and concerns mainly US futures traders.

The spectrum of interviewees covers both self-made men, career traders and the more academically educated traders who switched to trading. It also includes, quite rightly, a psychologist/trader coach. Some of the names still ring a bell today, Ed Seykota, Paul Tudor Jones, Jim Rogers, Marty Schwartz and Mark Weinstein. Others have been all but forgotten since, but that does not devalue their two cents' worth.

My interest in this book was to assess the drivers that make these traders what they are/were - reputedly highly profitable and successful individuals. The book does deliver in this respect; it distils the interviews down to some of the more pertinent questions.

So, what makes a good trader? A willingness to learn, to dedicate oneself, ability to exercise emotional control and apply trading systems without second guessing, the energy to develop a trading system and to perfect it continuously, the commitment to continuously study the market and develop what-if scenarios, and the courage to cut losers quickly and manage your money, and finally the willigness to suffer the excruciating delay of the gratification coming from locking into profits as they evolve. All in all - hard work, hard work and hard work - as well as some technical knowhow.

The book does not provide trading systems as most traders talk around rather than about their proprietary technology, however they all do emphasise trading systems should be developed or studied so as to at least comprehend how they may influence other market participants. In this respect, a majority of traders makes extensive use of technical analysis in addition to fundamental analysis.

Finally, the book highlights the need for aspiring traders to be aware of their inner self, i.e. the psychological dimension of trading and the interaction with our character traits. In this respect, the book did neatly set the scene for the later and better books "Traders" and "The Psychology of Trading" by Brett Steenbarger.

All in all, the book deserves its place on an aspiring trader's bookshelf and has certainly pointed me to further areas of study and related books.

5 out of 5 stars

Market wizards; interviews with top traders November 12, 2003
12 out of 12 found this review helpful

A book containing fascinating insights into the thought processes, psychology, early failures, successes and experiences of 17 or so succesful traders in several markets; futures, currencies, shares, pit trading, etc. Almost entirely American, covers mainly the 1970's and 1980's situation.

All wrapped up within the framework of interviews by the author, who gives us the impression of bringing a high degree of knowledge as he guides the interviewees into revealing their experiences and principles of operating.

A refreshing antidote to the ten-a-penny instant opinions so readily put out by teenage scribblers everywhere.

This book should certainly be of interest to aspiring traders, probably also to investors who wish to understand more about who they're sharing the market with, and I think to anyone with more than a passing interest in financial markets and psychology - all written in an accessible style.

I enjoyed it hugely.