Summary of Jack Schwager's
Market Wizard Insights Video


Jack Schwager Market Wizard Insights Video

Having watched Jack Schwager's Market Wizard Insights, I found the points below to be the most important information / concepts for aspiring traders to take aboard.

NB : You are encouraged to view this important video and share your comments below.

This free video and several others are available courtesy of INO TV.

You can also get your free copy on the link above.

Also available in the free collection are; Chuck LeBeau - A New Look At Exit Strategies, Ron Ianieri - Options - Learn The Greeks, John Murphy - Applying Technical Methods to Today's Trading, Curtis Arnold - Using Pattern Probability to Trade with the Trend, Larry Williams - How to Make a Million Like Larry, Linda Raschke - Classic Indicators - Back to the Future and William Greenspan - Day Trading Made Simple.

ABOUT : Jack Schwager's Market Wizards Insights

Jack explains the traits and behavior patterns that supertraders have in common, and tells you how you can develop those same winning characteristics.

This is a video that you'll find as entertaining as it is informative. Jack D. Schwager is the CEO of Wizard Trading, a commodity trading advisory firm that has been managing client funds since 1990. He is the author of The Complete Guide to the Futures Markets, Market Wizards, The New Market Wizards, Fundamental Analysis, and Technical Analysis.

Brainyforex Summary Jack Schwager's Market Wizard Insights;

Low Drawdowns

Near the start of the video Jack talks about successful traders whom records show they can produce good results with "low drawdowns".

There have been many successful traders that have achieved outstanding results, however the risk that they took to get them many not have been the smartest thing to do.

Further on in the video Jack explains how he interviewed one trader whom was facing a loss of 85 million from one trade before closing out at a 17 million dollar loss.

Develop Strategy in line with your Personality

Jack noticed that all the market wizards traded differently and found that the secret to a trading strategy was trading in line with your own personality type. Jack says there is no magical mathematical formula that these successful trading wizards have found.

You will not succeed with another traders system

Jack believes that 98% of people whom purchase a trading system will not succeed with it because they lack the confidence to continue to trade it during difficult times when it starts showing a loss. He says even though this may be normal with any system, the purchaser will give up on the system at that stage and not carry on with it. Thereby not having faith in the system and giving up on it.

Common denominators of all market wizards

Jack found that all successful market wizards used a strategy or method to trade by, they were disciplined, they held a strong belief that they would be successful, they worked hard and enjoyed what they were doing.

Go watch the whole video, its free and well worth it. Get it at INO TV.

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