Market Wizards

Three of the most influential books in my trading career were the Market Wizards trilogy by Jack Schwager.

If you are looking for a book that will reveal how to make 10 million pips a day, or a ghost written book about how to rock and roll your retirement, you should look somewhere else. If you are looking for books that will just all out inspire you and make you want to prop your eyelids up with toothpicks so you can finish them in one sitting, these are for you.

The books are interviews with some of the top traders at the time. And guess what? some of them are still the top traders.

With the exception of a few stories, these traders have a lot in common. It's not the instruments they trade, and it's surely not the analysis methods. Some will say that technical analysis doesn't work, while others are quick to point out that it's the only way to trade. And some combine both technical and fundamental analysis to come up with their strategy.

What are the common threads among these traders? MONEY MANAGEMENT. PUTTING THE TIME IN. CONSTANTLY LOOKING FOR AN EDGE AND EXPLOITING IT. BEING DOWN AND ALMOST OUT, BUT NEVER GIVING UP.

Here are my favorite interviews from each book, but I'm sure I'm forgetting some:

Market Wizards:

Marty Buzzy Schwartz: In case you haven't read my review on his book, go here

William O'Neil: Founder and editor of IBD

Paul Tudor Jones: One of my idols

Tony Saliba: Just an all out inspiring story of how he was basically out of the business before turning it around

New Market Wizards:

Linda Bradford Raschke: One of my mentors, and one of the best traders still in the business

Victor Sperandeo: 2B tops and 1,2,3s were some of the earliest chart pattens I learned

Stanley Druckenmiller: One of my favorite interviews

Stock Market Wizards:

Steve Cohen- Anyone ever heard of him?

Mark Cook: Another one that was almost done, and came back with a vengeance

Every book is a fantastic read cover to cover. Schwager does a great job
Here they are:

Market Wizards: Interviews with Top Traders

The New Market Wizards: Conversations with America's Top Traders

Stock Market Wizards: Interviews with America's Top Stock Traders

Feel free to contact me with any thoughts and opinions on these.

Michael tiny Saul

tnymjs at gmail dot com