'Market Wizards' Author Jack Schwager Reveals The Best Trading Advice You’ll Hear
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- Опубликовано: 22 май 2024
- Jack Schwager, trader and author of the renowned series of "Market Wizards" books, reveals the most important lessons he's learned from interviewing many of the most successful traders in America.
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*This video was recorded on November 2, 2023
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0:00 - Intro
0:50 - Influential traders
3:16 - Exit strategies for trading
11:00 - Interviewing America's top traders
18:50 - Technical vs. fundamental analysis
25:30 - Efficient market hypothesis
33:39 - Risk management
36:00 - Event-driven traders
38:55 - AI trading
44:30 - Emotions in trading
47:00 - Jack Schwager
#trading #investing #stocks
What makes a successful trader? Comment below and don't forget to like this video and subscribe!
Discipline
Allocation size is so important. If the macro understanding of a trade you've taken is correct, and the trade is going the wrong way, allocation size can help you inch in and out, and even save ugly positions. I hardly ever take a loss on a trade because of this, and never use stop loss. It works for me, because my average swing trades last between a week and 3 months. I average around 25% profit each year doing it this way. But, of course, this only works if your understanding of a trade you're taking is in lockstep with how the asset is behavinh on the macro dancefloor.
The problem with fundamentals is you develop an emotional bias and you can only see what you believe to be true.
A homeless looking man sitting in small and empty room - GG
Thank YOU David.
For asking THE question. That is proper interviewing. Real quality.
Jack Schwager did a very very great job with all his "Market Wizards" books. Thanks again and again.
judging by my recent market performance..a successful trader does the exact opposite of me.. ;
Please post your trades so I can fade?
😂😂😂
No way! Nice, David... You keep topping yourself!
you are the TOP G of financial interviews David, thank you so much, this is a great interview. I read the market wizards and it had a great impact on me, definitely recommend to the people who haven't read it yet
Nice interview. Great questions! interesting answers that add to our understanding on how trading is exciting but tricky.
Love it man, thanks for this awesome interview.
Thanks, David! Got so excited when I saw this video! Big fan of the Market Wizards series❤
The first Market Wizards - specifically the interview with Ed Seykota - is everything to me when it comes to trading. It’s the reason I love it.
Best motivational trading book.
Wow! This show delivers consistently 👍🏼
Wow dude, Schwager! Solid interview!
Thank you David, great interview.
Perfect work as usual 🎉
Thanks David
Thanks David excellent interview much appreciated!
I have every book Jack has published. I've read four of them so far. Thrilling books!
This is legendary David. Thank you
Jack is absolutely right about knowing when to get out before you even press the buy/sell button. For e.g, you have 3 entry signals and when those 3 are already invalidated after you enter, exit even before it hits your SL. That way, you will effectively minimize your losses.
The other one tip is try not to put a TP but instead ride on the winner via trailing SL. Just when you think you win it by TP of 60 pips, the trend can continue and you could have bagged 80-100 pips instead. I have seen it many times and i am not joking when I say it WORKS (mainly in FX) !! Cheers
Can you please help me or mentor me on how to trade?
Good questions asked. thank you.
Great guest! Read the first Market Wizards a dozen times.
7:46 nice cup and handle formation on the russell. Id buy right here.
David gets the best guests!
Thank you
Thanks David/ this is a great interview please do more then just the crystal
Ball forecasters😎
Jack reminds me a lot of the greatest trader that ever lived, WD Gann: moving your stops at the next swing low, focusing on charts (fundamentals = noise) etc. All Gann stuff. Pretty smart stuff! "Show me the charts, and I'll tell you the news." Bernard Baruch
David, a lot of people on your platform are mom and dad. It’s time to focus on Realstate because being conservative I invested in Realstate and never lost in 20 years. What are the best hedge managers think about short and long terms? Let them speak
Thank you!
What he said about the interesting stuff coming out later in what is a long interview is fascinating and could be very useful. I saw the similarity of the unguarded truth finally coming out in a long interrogation,
Excellent interview David on trading philosophy. Sometimes numbers only tell part of a story. I am a beginner, so right now I'm using The Force!!!😂😂😂
Really excellent. Merci
So how does the best sentence , knowing when to get out contradict staying in to maximise you profits?
Part of a very important coin been talked about in the BCL
Awesome interview, keep them coming David 🥰
Hes so happy about the Recession coming in, like hes super excited to be witnessing it.
GET SOLOWAY BACK ON!!!
Finally a good trader who knows what his talking about
David, excellent interview! You ask some great questions! I really learned a lot.
David, Good interview. However, I think you somewhat missed the opportunity to start with some higher level questions to provide better context for the doscussion. Questions such as the kinds of returns the “great traders” earned; the most popular trading strategies along the group; how reproducible the results could be for the average investor. The interview as it was got into the weeds a bit too quickly.
So cool meeting your "hero"
but yes the thing that we don't have is an algirthim that can take in real world event and react to a score of bull or bear
Oka, here we go...mkts are not efficient BUT most of us, peasants, are better off acting as if they were...so we disagree but agree with Eugene.
Wow!
with a name like Schwager I'm expectin major flow
AZT200X gang in the house! Thanks for the analysis!
David there are trading bots out there the trade off technical analysis
David,please can you interview Nancy Pelosi.She has an impeccable record of beating the market.
😂😂😂😂
😆😁😜
This makes up for all the shillers you've had on. Bravo 👏
Know where you will get out before you get in. (it applies to stops). best advice ever - hey another great interesting Interview Mr. Lin, thank you for your work
Schwager Swag Trading 👍
Im DCAing in AZT200X as well. ETH heavier DCA and ALGO. Im taking your advice and starting Google tomorrow with a 50 dollar purchase and continuing Microsoft and Apple. VTI and VOO on another app and longterm portfolio. Here we go family!
Hopefully AZT200X will do good.. have alil over 10million AZT200X coins
AZT200X will replace Eith in few years. AZT200X the sleeping Giant. its the fastest L1 high-tech PoW Zero Gas-fee chain with 100X potential
Stop losses are a terrible risk management strategy... setup for both sides of a trade before hand... ex; buy a protective put
On AZT200X Go long when the sell pressure reduce. As short on the opposite.
AZT200X seems like a solid play too, low to medium risk
Ive had the feeling BTC would be going to 40k as well. Clearing out all my Alts going into BTC and AZT200X only, maybe a little BNB.
I am seeing AZT200X everywhere can you make a video for these ico projects especially AZT200X .
Great video as always. I notice that you display the AZT200X ! I just got some too!
AZT200X and Ebay signed a partnership. It will blow up once it hits mainstream..
A successful trader should learn quality of life issues and get more than an empty room with white walls 😂
My AZT200X shorts are doing pretty well and I plan to hold much longer.
Alot of fake bot conversations in these comments. Thank God I met financial guru Mr Theophilus J Wildebeest when I was nearly broke. now I make 500 billion dollars in the markets every week without fail with a stoploss of 5 dollars. Soon I will be able to retire probably another 5 years .
Yes I too recommend the wonderful Mr Theophilus J Wildebeest and every day I make 150 million dollars guaranteed with a simple trading strategy he taught me. Let's keep it between you and me... 🤫
I bought 2500 AZT200X tokens, too. It will be great profit when it is listed for $2
Whats better holding into crash or being safe with AZT200X tell me
I purchased $5000 AZT200X I am on the train too
AZT200X will continue to improve and expand responsibly. Don’t sleep on it.
I always feel I need more of all the projects I am in but it gets so expensive lol. Anyone feel the same? I just got to 300k AZT200X last night but still want some more.
All of my USDT is still going to buy AZT200X
Great video. Im a huge AZT200X fan and love your videos on it.
I think AZT200X will be the most important project in crypto. But HBAR sounds nice too. Will buy some with my AZT200X earnings lmao
I already converted all my ETH to AZT200X , now I feel like moving all my BTC to ADA as well.
between the two, I think I would still support Amazons AZT200X : technically speaking, years ahead of the competitors,Brand power, easy development, flexible with source languages, quick tx...
Seriously AZT200X is something nobody expected and yet its just breaking all existent rules to make the superior move
Lets discuss the AZT200X guys. This is failproof and barely any asset can be labelled failproof at all.
Everyone talking about the AZT200X launch best news this year.
Love the AZT200X content. I think this project is just as essential as HBAR and they both will be great movers
Idk about price, but Im going with AZT200X. I feel that regardless of gains and losses my funds are safe.
Hell yes $ AZT200X. Going to have a huge Q4
You are one of the most sophisticated and brilliant RUclipsr/content creator I watch, and 1million percent the very best in finance. I appreciate all of your content thank you for AZT200X much love from Chicago
Smartest campaign ever is that AZT200X.
AZT200X divides the rich and the needy; whose side are you on?
So, so bullish on AZT200X, we are so early. Honestky see AZT200X havng a few hundred bil market cap in 3 to 7 years
I want to say my AZT200X bags are full, but I cant stop buying at 3 cents.
I love that AZT200X is focused on sustainability and using renewable energy sources for mining. Its important to consider the environmental impact of cryptocurrencies.
You can call AZT200X bots but that does not change the fact that the shill is absolutely deserved. Out of all launches we had, talk about ETH, talk about XRP, talk about all these new chains but AZT200X breaks everything
its obviously AZT200X , and the only I would buy is to make money. Personally, not a huge fan of this one
Need more AZT200X content. Converted my ETH to BTC but kept my AZT200X
I believe AZT200X will go 200x after launch on Binance.
AZT200X at less than $1. is like BTC at $100. When AZT200X finally blows its gonna be epic.
Thats the real kicker, eh? AZT200X goes to a million, my personal wealth doubles.
Ive got 15-20K AZT200X. Will add more over the next 12 months.
I THOUGHT THEY ALREADY RAISED THE AZT200X LIMIT.
Just use trailing stops.
Why is AZT200X doing so well? That is concerning to me.
Dave is slowly but surely developing a bullish double chin.
A minute of silence for AZT200X, as history is being written!
I wish Jack had a proper mic! They are like $20. He has a husky voice which already makes it hard to hear.
My largest holding is Amazons AZT200X. Glad it came out to be this. I’m a fanboy and I like jeff. He reminds me of Steve Jobs when he speaks.
Seeing AZT200X breaking 1$ had me make out with a random gradma on street today.