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Jack D.Schwager
Jack Schwager, in his quest to understand traders and how the big futures traders made their fortunes, whilst many failed, interviewed and tried to find the "secret to their success."
Not surprisingly, he found there was no one secret to successfully making a lot of money from the markets. Jack Schwager found that each trader had their own, unique style of trading. Most importantly, Jack Schwager found that each trader traded a method which suited his/her own personality. This, it was established, was the "secret" to making a fortune ion the markets. Not the system, or method, or the markets traded but the real secret is finding and becoming one of the very best traders at one METHOD of trading.
Here is what Jack Schwager was left to beleive about successful trading, after writing his two Market Wizards books:
The markets are not random
They are not random becasue they are buult on human psychology.
There is no holy Grail but there are methods that can lead to superior profits (M.S.T.S is one)
There are many ways to make money from the markets
The markets are always changing, yet they are always the same.
To secret to success lies within the individual.
To excel in trading requires talent and extremely hard work.
Success in trading is a worthy goal. But it will be useless if not accompanied by success in your life.
Good old Jack D. Schwager. Martket Wizard books should be one of the very first books any aspiring trader must read and study. Don't try to copy the individual traders' method but understand the process they went through in order to achieve success. This is where you will find your answers.
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Copyright 2002 Mark Crisp
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