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Market Wizards : Interviews with Top Traders

Market Wizards : Interviews with Top Traders

List Price: $17.00
Your Price: $11.56
Product Info Reviews

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Rating: 5 stars
Summary: You MUST Read and re-read this book!
Review: Not for trying to copy one of the traders trading styles, as it is not about that, but you really must get into the mind of these successful traders. I have read this book over 100 times and each time I seem to gain more knowledge.

I always recommend people buy this book before they even trade a stock. Very interesting people with great minds on trading. Buy it now.

Rating: 5 stars
Summary: Excellent...Must Read, if you are a serious trader!
Review: A excellent guide that should be in every serious trader's library! It really hit the pschological needs/pitfalls of trading success/failure. The bottomline is risk and money manaegment are much more important than selecting the right trade. This easy-to-read and understand book will greatly advance my trading career! I highly recommend it for any beginning trader. You will NOT get strategies, but simply a chance to get "inside" the heads of traders who have profitted handsomely from trading. A real WINNER!

Rating: 1 stars
Summary: Uneven view of Trend Trading
Review: There are 3 major flaws to this book
1) Only Trend Traders are interviewed. I.e. those people who trade with Trends
2) the interviews themselves are uneven with a distinct bias towards people that Schwager liked their house (Seykota, Marcus)
3) All, except for O'Neill, are extreme liberal democrats with very liberal biases.

The crux of the book, excepting of course O'Neill, is that funnny-mentals are something none of them understand so they just watch technical analysis and trade trends. What does this mean? Money management is key since most of their trades are unsuccessful. What makes up MM? No one will say since that's their only REAL edge. In the end, read Lefevre's Stock Operator or Niederhoffers Education. This is boring and basically empty.

You do though get to see how these traders live with their wealth
and O yes, most went belly up AFTER meeting with Schwager.

Rating: 1 stars
Summary: Market Baloney
Review: Here we get interviews with trading "wizards". What you are actually getting is the same tired advice of cutting your losses etc. etc. I suspect that people who read this book think they are being let in on insights and "secrets" of how these traders are so successful. After all if these "wizards" cant tell you who can? Ever try truth and logic? If you did, you would see what a crock this book is. Most traders are using the advice in this book, so why arent they as successful as these "wizards" are? Most people including publishers believe these people have "secret knowledge" and if you pay their outrageous prices for courses and books they sell, you'll be a success. Baloney. People who believe this believe in magic. They subconciously believe that if the wizard touches them with their starry wand or takes their magical advice they become instantly successful. Sure you do. The truth is so simple, many people overlook it. The truth is you have to have true knowledge and great mastery. Thats it. You have to figure the truth out yourself, instead of having it spoon fed to you. Unfortunately, many people believe in magic. They want something for nothing. This attitude is what causes sorry excuses for books like this to be published. Success always requires a price to pay. That price is hard study and hard work to gain mastery. Thats something these market "wizards" dont tell you and if you look through most if not all trading books, they dont tell you either. Why? To keep you paying up. They keep you chasing for the gold at the end of the rainbow. Did I let the cat out of the bag? Heck no! In the intellegence service they have an old saying " The best way to keep something secret is to lay it out in the open." True words indeed. Some people will find the truth and most will always miss it right under their noses. Read Acres of Diamonds by Russell Conwell. There are many good books on trading. Unfortunately many are over priced. Before one had to pay these prices for what he needed. Luckily, Toni Turner has written several outstanding books on day trading and short term trading. They are reasonably priced and offer valid knowledge. Her books are better than the Market Wizard tripe and are very practical. Also beware of greed. Its the greatest reason people get killed trading. Trade to pay your bills and put food on the table. Dont learn the hard way. Greed will nail you one way or another. Count on it. Call it money karma.

Rating: 2 stars
Summary: Couldn't all agree
Review: The biggest problems are the apparent survivor bias. Does anyone know how many of these trders are still around actually trading. If they are still doing what they said in the book, some of them should be real heros in the dotcom franzy. But haven't heard of any.

There are occasionally some wisdom come up among pages, but most likely you already heard of them thousands of times. Like "Risk control", "Cut your loss short" ... Even if these wisdom origionally came from this book, but still not worth the time reading it. Sorry

Rating: 5 stars
Summary: An inspirational book
Review: I have started work on the trading floors for a large bank in London, and I read this book before I began. It is such a great book. Very easy and fun to read. And truly motivating. The conclusion one draws is that there are many ways to win at trading. There is no one secret system apart from correct money management. My only criticism is that the interviewees were a bit (understandably) vague concerning their trading strategys. So if you do (& I know you will) buy this book, do not expect to learn specific ways to trade. Instead, enjoy reading about the gods of trading!

Rating: 5 stars
Summary: MUST READ
Review: This is a must read a true classic , i've read it a couple of times to reinforce what i learned.Its a delight to read over and over!

Rating: 5 stars
Summary: Inspirational and educational - a must have for your library
Review: I first read this book in 1991 and I was so pumped up that I read it again a year later. The tales of these professionals kept me riveted and the relaxed, conversational style of the book makes it an easy read. I learned several of my most hard-and-fast disciplines from this book ("cut your losses, let your winners run", "know your 'uncle' point", "have patience to wait for the right trade to come along"). Favorite interviews were Michael Marcus, Paul Tudor Jones, Ed Seykota, Larry Hite, William O'Neil and Jim Rogers. Surprisingly, what you gather from the compilation of interviews is that despite a focus on different investment time horizons or securities, there are common keys to success across most of these guys, many of whom achieved legendary status. I came away from this book realizing that you must take these well-established rules and apply them in a disciplined fashion to your personal investment style. You will not be good at all things (stocks, options, commodities, shorting, etc.). So, find what your personal strength is and apply these disciplines to achieve success. I still make investing mistakes (believe me!). But I've made a lot fewer of them because of the lessons I learned from this book. Three other points:

1) This book turned me on to Reminiscences of a Stock Operator, my all-time favorite book about the markets (check it out in Amazon).
2) The book is a bit dated, so some of the people (e.g., Robert Prechter) and newsletters (e.g., Zweig Letter) referenced by the interviewees are no longer around or have lost status.
3) The New Market Wizards falls short of the standard set by this book, but the sequel is still probably worth reading.

Rating: 5 stars
Summary: FROM BRAZIL
Review: I HAVE PAID FOR A BOOK THE ENCICLOPEDIA OF MARKET INDICATORS (MY LAST ORDER AND I DONT HAVE RECEIVE IT YET. GIVE SOME INFORMATION. IT'S HARD TO CONTACT AMAZON

Rating: 5 stars
Summary: My first book
Review: This is the first book I read back in 1995 or so. The interview by Ed Seykota stood out back then. The interview with Paul Tudor Jones is also worthwhile to read. Mandatory!


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