Summary of Jack D. Schwager's Market Wizards

Excerpt From Summary of Jack D. Schwager's Market Wizards



#1



The author was a commodity research analyst at a large investment firm, and he learned that the market can be unpredictable. One day, he was shorting cotton, which was trading at around 29 cents per pound. Suddenly, the market increased and cotton climbed to a level of around 34 cents. However, this was short lived, as cotton eventually plummeted to a level of around 99 cents.



#2



The author tried to be a successful trader by strictly following the fundamental aspect of the markets, but soon realized that he needed to include technical analysis into his trades in order to be successful.