“The New Market Wizards” by Jack D. Schwager is a book that features interviews with some of the most successful traders of our time. The book offers insights into their trading strategies, risk management techniques, and psychological approaches to trading. The traders interviewed include Paul Tudor Jones, Bruce Kovner, Michael Steinhardt, and more.
The book is organized into several sections, each focused on a specific area of trading. The traders interviewed discuss their experiences trading futures, currencies, stocks, and options, as well as their use of technical analysis, fundamental analysis, and macroeconomic analysis. They also offer insights into their risk management techniques, including the use of stop-loss orders, position sizing, and diversification.
One of the key themes that emerges from the book is the importance of discipline and emotional control in trading. The traders interviewed emphasize the need to remain calm and focused, even in the face of volatility and uncertainty. They also stress the importance of maintaining a long-term perspective, rather than getting caught up in short-term fluctuations.
Overall, “The New Market Wizards” offers valuable insights into the world of trading from some of the most successful traders of our time. The book is a must-read for anyone looking to improve their trading skills and gain a deeper understanding of the markets.
kuch to hone bala hey