In The New Market Wizards, successful traders relate the financial strategies that have rocketed them to success. Asking questions that readers with an interest or involvement in the financial markets would love to pose to the financial superstars, Jack D. Schwager encourages these financial wizards to share their insights. Entertaining, informative, and invaluable, The New Market Wizards is destined to become another Schwager classic.
In these absorbing interviews with star performers in the financial markets, Schwager ( Market Wizards ) humanizes the mechanics and psychology behind billion-dollar daily world trading in such sophisticated instruments as currencies, stock options, commodity futures, and mutual-fund accounts by individuals, investment firms and group-trading computerized ``money machines.'' One trader focuses on market response to news events, another calculates mathematical probabilities--one even cocks an ear to the noise level on the exchange floor. All rank assiduous research, self-confidence, a specific plan and the courage to cut losses among essentials to success. Few consider their work gambling, but Schwager entertainingly argues that a successful trader needs many of the qualities of a good poker player. Though the subject matter is esoteric, there is much here to attract the general reader, and Schwager appends a ``primer'' of technical basics.
Customer ReviewsSee All
Useful for a serious trader or investor
7 out of 10. The first book is better, but this does cover new ground.
You must understand principles of share trading to make sense of this book.
This book contains more interviews with options traders than the first book. While options may be of no interest to some readers (including me), the general principles are still of interest.
Do not expect magic clever schemes: there are none. Rather the consistent restatement of general principles is reenforcement of good practice e.g. Money management; choose a style that suits your personality and stick to it.