Hedge Fund Market Wizards – How Winning Traders Win by Jack Schwager – trading book review

Hedge Fund Market Wizards: Hedge Fund Market Wizards – How Winning Traders Win by Jack Schwager – trading book review by Jack Schwager

Jack Schwager wrote this book which deals with similar subjects as his previous works, about managing capital, or more precisely, how can you become a better in managing capital.
Most benefits from this book will be seen by those who are professional managers, those who evaluate professionals, and those people who want to become more efficient in managing money.
The age that brings new streams into the market doesn’t affect people’s minds, and this book will show you how a man is always a man, and it is up to us to deal with the market, and not let the market to deal with us. We should control it, regardless of how it changes. The core of the market is actually always the same, and this core is our discipline, intellectual honesty that makes us better learners from mistakes. Schwager is trying to help us learn from other people’s mistakes, and not our own, while helping us to develop discipline and understanding the risk that this job brings along
The book is about the people whose characters Schwager describes as different ways to success. Each person is a universe for itself, of course, and in this book they are portrayed in such a manner that makes this read a highly entertaining and valuable source of true and live information.
Schwager managed to combine to highlights of their most important actions and deeds and to point out the significance of each of their difference, which in turn gave clearer picture about the similarities they share.
The author summarizes a smart conclusion so the reader doesn’t have to do homework in finding the most important characteristics that lead them to success.
The main lectures are summarized to this: there is no single way to ensure success in market. Even if you handle ways to succeed, those ways will change.
The path to success is paved with mistakes, so don’t be afraid of making them. It is only better to learn from others’ mistakes, but if you don’t, your mistakes will teach you.
Patience is golden. In trading business, waiting patiently to have fog cleared at the market landing lane.