Rating: 
Summary: A candid glimpse into America's top Traders!
Review: This follow up to his best seller "Market Wizards" includes many more insights into many more of America's best Futures and Stock traders. Through candid interviews these self-made mulit-millionaires explain the discipline and strategies involved in trying to wrestle with the financial bull that comprise our capital markets.
We novices who have ever dreamed about becoming a full time investor or just wanted to know how these financial wizards do it, have in this book further proof that fortunes can be made given enough discipline, patience, and sheer stamina.
Each interviewee explains how they place trades, what they look for, and when they exit. The 4 tenets that come up over and over again is: 1) Follow the Trend 2) Cut your losses short 3) Let your profits run 4) Manage risk.
One thing each professional points out is the sheer naivette of the inexperienced trader or investor who comes into the tumultuous financial jungle expecting to make 50 to 100% a year. They are undercapitalized and inexperienced but most importantly do not know themselves. This is a fantastic book if you want to know how the best of the best tackle our financial markets
Rating: 
Summary: A must read, enjoyable book
Review: This is a nice follow-up to the first Market Wizards book. Both books are enjoyable reading and if you pay close enough attention, there are many valuable insights, including the importance of using plain old common sense in trading.
Rating:
Summary: Tremendous respect for market opinion
Review: This is a very good follow up to "The market wizards" published a few years before this one. One finds precious lessons from great traders like William Eckhardt, Randy Mc Kay, Victor Sperandeo, Tom Basso, the Ritchies, etc. One could argue that, deliberately or not, many other legendary traders have been left out of this book and its predecessor. Be it as it may, it's probably better to judge this book for what it is and not for what it could have been, and as such, I must say I find it really very interesting.
I can understand some of the criticism by the Amazon reviewers towards some of the traders methods or concepts. Every trader interviewed in this book represents a particular case, whether you agree with their methodology or not. And I guess everyone of them may be prone to criticism. But I won't be so pretentious to criticize any of them. After all, there are many ways to make money, and this is the main reason why these guys do what they do.
One trader that really stands out (in my mind) from the others though is Jeff Yass, and maybe that's because the part I was really interested in was option trading. The guy is a mathematician and a strategist. I was particularly impressed by his new (to me) insights, like "you can learn more about option trading strategy by playing poker than in all the college economics courses combined...the primary object being maximizing your gains and not winning most hands", "your senses deceive you...you always have to double-check the pretty obvious situations, cause there is never any money to be made in the obvious conclusions", "have a great deal of respect for the market opinion, since there's no way you can construct a model that can come close to being as informed as the market itself", "the market's pricing of an item is the best measure of its value", "information doesn't exactly flow perfectly, like they teach you in finance school...frequently the information will show up first in the option market", and many other gems of the like.
All in all a very good book on trading, maybe not as good as the first one, but frankly, what sequel ever is?
Rating:
Summary: who better to learn from than proven performers?
Review: this is one of the books on my must have list for anyone even thinking about investing. although these are interviews with top traders, don't be fooled. many of the philosophies that become readily apparent as being shared amongst all interviewed in this title are just as valuable to medium and long term investors as well
Rating:
Summary: Turtles & Trends Galore
Review: This is the BEST of the 3 volume series. This book was absolutely outstanding and worth not only buying but keeping. I did not like volume #1 at all; there was really nothing in that & I doubted whether the traders interviewed had anything of value to give the reader. This book though is of a much higher quality as it delves more into Trading Systems & their psychology than previously.A key thing you will learn from these interviews is best exemplified by Mike Carr a Turtle: Don't care what the market will do, Care what you will do when the market does it. The gem in this series is Warren Eckhardt. In the first book the Ritchie Dennis & Will O'Neil interviews were the real gems. The others in vol#1 were totally without value including the GREAT Ed Seykota who is just a wise-acre with flippant answers and a juvenile sense of humour. Here in volume 2 even minor traders have more to say, perhaps Jack got better in getting information out of them? Anyhow, remember more than HALF of these people have since gone the way of Livermore and blown up and those that haven't are RETIRED and teach at high costs.
Rating:
Summary: Very interesting indeed!!!
Review: This one and the previous MW are both very interesting indeed! I learned a lot from them. This one is slightly earier for me to read than MW. The summary of this one is also much more substantial. Some people may feel the section about NLP and psychology have not relation with trading. But I think they are still quite helpful. Both of them deserve 5 stars!
Rating: 
Summary: General insights into successful traders/investors...
Review: Through a series of interviews, Jack Schwager introduces the readers to traders he deems to be Market Wizards. He talks to people trading in different markets, employing different methodologies, and exhibiting different strengths and weaknesses. In spite of the differences, Schwager identifies some commonalities. Schwager sums up the book by offering his takeaways for being a successful trader. Some of them are quite obvious (e.g. have a passion for trading and examine your reasons for trading, have an edge) while other are more subtle (e.g. match your trading style with your personality, have a method). Having attended a lecture given by him, Schwager will be first to tell you how he had to modify his trading style and methodology to a quantitatively-driven one. Before the change, he felt that he lacked the discipline to exit his positions subjectively.
Rating:
Summary: BEST BOOK ON THE EXPERIENCES OF TOP TRADERS
Review: Today, many self-designated "experts" tell you how easy it is to make money in the markets. The traders in this book give you an honest introduction of how their careers started. Many have had to make it the hard way after suffering serious losses and other setbacks. To be like someone, you need to behave like them and this is exactly what you will learn here. I like the idea that most traders stress the importance of risk management as more important than market direction. Special congratulations should go to Linda Bradford-Rasche for her valuable suggestions of what a beginner should do. If I had this same advice in the beginning of my career, I would have saved a lot of money. It would be nice if others could make use of the advice given before making stupid losses in the market.
Rating:
Summary: well ...
Review: We take these things with a pinch of salt right? I know that two of the people in this book can hardly be called Wizards. I met one ... oh well a long story ... has to do with hypnosis ... and proportional bars ... However there are also excellent traders in it. Many more of the good variety as a matter of fact ...
Rating:
Summary: Excellent, a must read for the pro
Review: What else can one expect to learn the invaluable experience of the best traders in the market? BTW, one can seldom find such a good example that the second episode can be as good as the first.
|
