Product Description

Interviewing such personalities as Michael Marcus - who turned a $30,000 account into $80 million - and Tom Baldwin - a former meat-packing plant manager who now trades up to $2 billion worth of T-bond futures a day -, Jack D. Schwager gets these top traders and others to disclose their various trading approaches and personal rules and secrets for their success. Jack D. Schwager is the author of "The New Market Wizards".

Product Details

• Amazon Sales Rank: #108074 in Books
• Published on: 1992-06-30
• Original language: English
• Number of items: 1
• Binding: Paperback
• 480 pages

Synopsis
Interviewing such personalities as Michael Marcus - who turned a $30,000 account into $80 million - and Tom Baldwin - a former meat-packing plant manager who now trades up to $2 billion worth of T-bond futures a day -, Jack D. Schwager gets these top traders and others to disclose their various trading approaches and personal rules and secrets for their success. Jack D. Schwager is the author of "The New Market Wizards".

Customer Reviews

A fascinating insight into how traders made their fortune
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.

Not really instructional but some good stories worth a read.
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.

The reputation is well deserved
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.