The Little Book of Market Wizards: Lessons from the Greatest Traders (Little Books. Big Profits)

"Whether you're an active trader, or simply want a better understanding of how to succeed in today's markets, you'll benefit from the wisdom and insight renowned "Traders' Hall of Fame" award winner. Now, Jack Schwager hands you the strategies of the most sought after traders. Through his bestselling Market Wizards books, Schwager has probed the minds of the world's most respected investors, studying their personal traits and learning the secret techniques that have turned them into investment role models. Now a professional investor and successful fund manager in his own right, Schwager shares his own secrets, along with those of his prominent "Wizards." This book will enable you to master the fine art of trading as you discover and apply the key methods and traits shared by the world's most acclaimed traders. Find critical, yet often overlooked factors for understanding: \* How to avoid losing faith during down markets, and confidently pull profits in any market condition \* The dangers of overtrading--how to react when no position is the right position \* The value of "self-analysis" for finding a trading method that fits your personality and goals \* The real risk in volatility \* How to develop the habit of "disloyalty" \* Why you MUST learn how to change directions--and how to do it quickly Plus, the keys to developing discipline, good money management skills, and avoiding the risks inherent in second-guessing your own system--all learned from the Market Wizards themselves and revealed here for you"-- Read more... Abstract: What differentiates the highly successful market practitioners - the Market Wizards - from ordinary traders? What traits do they share? What lessons can the average trader learn from those who achieved superior returns for decades while still maintaining strict risk control? This book deals with these questions. Read more...

An accessible look at the art of investing and how to adopt the practices of top professionals

What differentiates the highly successful market practitioners—the Market Wizards—from ordinary traders? What traits do they share? What lessons can the average trader learn from those who achieved superior returns for decades while still maintaining strict risk control? Jack Schwager has spent the past 25 years interviewing the market legends in search of the answers—a quest chronicled in four prior Market Wizards volumes totaling nearly 2,000 pages.

In The Little Book of Market Wizards, Jack Schwager seeks to distill what he considers the essential lessons he learned in conducting nearly four dozen interviews with some of the world's best traders. The book delves into the mindset and processes of highly successful traders, providing insights that all traders should find helpful in improving their trading skills and results.

• Each chapter focuses on a specific theme essential to market success
• Describes how all market participants can benefit by incorporating the related traits, behaviors, and philosophies of the Market Wizards in their own trading
• Filled with compelling anecdotes that bring the trading messages to life, and direct quotes from the market greats that resonate with the wisdom born of experience and skill

Stepping clearly outside the narrow confines of most investment books, The Little Book of Market Wizards focuses on the value of understanding one's self within the context of successful investing.

Whether you're an active trader, or simply want a better understanding of how to succeed in today's markets, you'll benefit from the wisdom and insight renowned "Traders' Hall of Fame" award winner. Now, Jack Schwager hands you the strategies of the most sought after traders. Through his bestselling Market Wizards books, Schwager has probed the minds of the world's most respected investors, studying their personal traits and learning the secret techniques that have turned them into investment role models. Now a professional investor and successful fund manager in his own right, Schwager shares his own secrets, along with those of his prominent "Wizards."

This book will enable you to master the fine art of trading as you discover and apply the key methods and traits shared by the world's most acclaimed traders. Find critical, yet often overlooked factors for understanding:
* How to avoid losing faith during down markets, and confidently pull profits in any market condition
* The dangers of overtrading--how to react when no position is the right position
* The value of "self-analysis" for finding a trading method that fits your personality and goals
* The real risk in volatility
* How to develop the habit of "disloyalty"
* Why you MUST learn how to change directions--and how to do it quickly

Plus, the keys to developing discipline, good money management skills, and avoiding the risks inherent in second-guessing your own system--all learned from the Market Wizards themselves and revealed here for you.

"Whether you're an active trader, or simply want a better understanding of how to succeed in today's markets, you'll benefit from the wisdom and insight renowned "Traders' Hall of Fame" award winner. Now, Jack Schwager hands you the strategies of the most sought after traders. Through his bestselling Market Wizards books, Schwager has probed the minds of the world's most respected investors, studying their personal traits and learning the secret techniques that have turned them into investment role models. Now a professional investor and successful fund manager in his own right, Schwager shares his own secrets, along with those of his prominent "Wizards." This book will enable you to master the fine art of trading as you discover and apply the key methods and traits shared by the world's most acclaimed traders. Find critical, yet often overlooked factors for understanding: * How to avoid losing faith during down markets, and confidently pull profits in any market condition * The dangers of overtrading--how to react when no position is the right position * The value of "self-analysis" for finding a trading method that fits your personality and goals * The real risk in volatility * How to develop the habit of "disloyalty" * Why you MUST learn how to change directions--and how to do it quickly Plus, the keys to developing discipline, good money management skills, and avoiding the risks inherent in second-guessing your own system--all learned from the Market Wizards themselves and revealed here for you"-- Provided by publisher An accessible look at the art of investing and how to adopt the practices of top professionals What differentiates the highly successful market practitioners—the Market Wizards—from ordinary traders? What traits do they share? What lessons can the average trader learn from those who achieved superior returns for decades while still maintaining strict risk control? Jack Schwager has spent the past 25 years interviewing the market legends in search of the answers—a quest chronicled in four prior Market Wizards volumes totaling nearly 2,000 pages. In The Little Book of Market Wizards , Jack Schwager seeks to distill what he considers the essential lessons he learned in conducting nearly four dozen interviews with some of the world's best traders. The book delves into the mindset and processes of highly successful traders, providing insights that all traders should find helpful in improving their trading skills and results. Each chapter focuses on a specific theme essential to market success Describes how all market participants can benefit by incorporating the related traits, behaviors, and philosophies of the Market Wizards in their own trading Filled with compelling anecdotes that bring the trading messages to life, and direct quotes from the market greats that resonate with the wisdom born of experience and skill Stepping clearly outside the narrow confines of most investment books, The Little Book of Market Wizards focuses on the value of understanding one's self within the context of successful investing. Foreword by Peter L. Brandt xi Preface xv Chapter One: Failure Is Not Predictive 1 Chapter Two: What Is Not Important 9 Chapter Three: Trading Your Own Personality 15 Chapter Four: The Need for an Edge 23 Chapter Five: The Importance of Hard Work 27 Chapter Six: Good Trading Should Be Effortless 35 Chapter Seven: The Worst of Times, the Best of Times 41 Chapter Eight: Risk Management 47 Chapter Nine: Discipline 61 Chapter Ten: Independence 69 Chapter Eleven: Confidence 73 Chapter Twelve: Losing Is Part of the Game 77 Chapter Thirteen: Patience 83 Chapter Fourteen: No Loyalty 93 Chapter Fifteen: Size Matters 103 Chapter Sixteen: Doing the Uncomfortable Thing 115 Chapter Seventeen: Emotions and Trading 125 Chapter Eighteen: Dynamic versus Static Trading 135 Chapter Nineteen: Market Response 145 Chapter Twenty: The Value of Mistakes 157 Chapter Twenty-One: Implementation versus Idea 163 Chapter Twenty-Two: Off the Hook 167 Chapter Twenty-Three: Love of the Endeavor 173 Appendix: Options Understanding the Basics 177 Notes 185 About the Author 189 Machine generated contents note: Foreword (Peter Brandt) Preface Chapter 1: Failure is Not Predictive Chapter 2: What is Not Important Chapter 3: Trading Your Own Personality Chapter 4: The Need for an Edge Chapter 5: The Importance of Hard Work Chapter 6: Good Trading Should Be Effortless Chapter 7: The Worst of Times, The Best of Times Chapter 8: Risk Management Chapter 9: Discipline Chapter 10: Independence Chapter 11: Confidence Chapter 12: Losing is Part of the Game Chapter 13: Patience Chapter 14: No Loyalty Chapter 15: Size Matters Chapter 16: Doing the Uncomfortable Thing Chapter 17: Emotions and Trading Chapter 18: Dynamic Versus Static Trading Chapter 19: Market Response Chapter 20: The Value of Mistakes Chapter 21: Implementation versus Idea Chapter 22: Off the Hook Chapter 23: Love of the Endeavor Appendix: Options Understanding the Basics1 Notes About the Author .