Archives of “market wizard” tag

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What Market Wizard Ed Seykota has been up to lately:

  
Education, Video
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Those familiar with Ed’s Whipsaw trading song will not be surprised to find him back playing music a few months ago.  Here is the legendary trader Ed Seykota playing music recently with his son. If you are not familiar with this Market Wizard check him out here: Wikipedia.

Trading Wisdom – Michael Marcus

  
  Education
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winningtradeWhat is the best thing a trader can do to increase their chances for long-term success? Market Wizard Michael Marcus gives us a glimpse with this insightful quote: “Taking advantage of potential major winning trades is not only important to the mental health of the trader but is also critical to winning. Letting winners ride is every bit as important as cutting losses short. If you don’t stay with your winners, you are not going to be able to pay for the losers. In addition to not overtrading, it is important to commit to an exit point on every trade. Protective stops are very important because they force this commitment on the trader.” True words of wisdom!

Schwager’s New Hedge Market Wizards Book w/ Dalio, Thorp, Woodriff

  
  Education
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Looks like Schwager is putting out a new version of his famous Market Wizards series.  Personally I’d like to see a “where are they now” from the past few books. (His other books here.)
Hedge Fund Market Wizards
Table of Contents
Introduction
Part I: Macro Men
Chapter 1 Colm O’Shea: Knowing When It’s Raining
Chapter 2 Ray Dalio: The Man Who Loves Mistakes
Chapter 3 Scott Ramsey: Low-Risk Futures Trader
Chapter 4 Jamie Mai: Seeking Asymmetry
Chapter 5 Jaffray Woodriff: The Third Way
Part II: Multi
Chapter 6 Edward Thorp: The Innovator
Chapter 7 Larry Benedict: Beyond Three Strikes
Chapter 8 Michael Platt: The Art and Science of Risk Control
Part III: Equity
Chapter 9 Steve Clark: Do more of What Works and Less of What Doesn’t
Chapter 10 Martin Taylor: The Tsar Has No Clothes
Chapter 11 Tom Claugus: A Change of Plans
Chapter 12 Joe Vidich: Harvesting Losses
Chapter 13 Kevin Daly: Who Is Warren Buffett?
Chapter 14 Jimmy Balodimas: Stepping in Front of Freight Trains
Chapter 15 Joel Greenblatt: The Magic Formula
Conclusion 40 Market Wizard Lessons
Appendix 1 The Gain to Pain Ratio
Appendix 2 TITLE TK

Trading Quotes from Way of Turtle by Curtis Faith

  
  Education
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Dont spent all your time admiring the fancy tools in the magazine.
First learn how to use the basic ones well. Its not the size of your tools that counts but how you use them.
Keep it simple. Simple time-tested methods that are well executed will beat fancy complicated method every time.
Trading with poor methods is like learning to juggle while standing in a rowboat during the storm. Sure, it can be done, but it is much easier to juggle when one is standing on a solid ground.
Trading is not a sprint; it is boxing. The market will beat you up, screw with your head, and do anything it can to defeat you. But when the bell sounds at the end of the twelfth round, you must be standing in the ring in order to win.
The market does not care how you feel. It will not prop up your ego or console you when you are down.
Therefore, trading is not for everyone. If you are unwilling to face the truth about the markets and the truth about your own limitations, fears and failures, you will not succeed. (more…)

Five Market Wizard Lessons

  
  Education
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“Five Market Wizard Lessons” 
Hedge Fund Market Wizards is ultimately a search for insights to be drawn from the most successful market practitioners. The last chapter distills the wisdom of the 15 skilled traders interviewed into 40 key market lessons. A sampling is provided below:

1. There Is No Holy Grail in Trading
Many traders mistakenly believe that there is some single solution to defining market behavior. Not only is there no single solution to the markets, but those solutions that do exist are continually changing. The range of the methods used by the traders interviewed in Hedge Fund Market Wizards, some of which are even polar opposites, is a testament to the diversity of possible approaches. There are a multitude of ways to be successful in the markets, albeit they are all hard to find and achieve.

2. Don’t Confuse the Concepts of Winning and Losing Trades with Good and Bad Trades
A good trade can lose money, and a bad trade can make money. Even the best trading processes will lose a certain percentage of the time. There is no way of knowing a priori which individual trade will make money. As long as a trade adhered to a process with a positive edge, it is a good trade, regardless of whether it wins or loses because if similar trades are repeated multiple times, they will come out ahead. Conversely, a trade that is taken as a gamble is a bad trade regardless of whether it wins or loses because over time such trades will lose money. (more…)

Jack Schwager Winning Methods of the Market Wizard

  
Analysis, Education, Video
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Part 1- Trade your personality, systems that do not fit the person fail, have a plan, and be dedicated


 

Part 2- No easy money, short term success is 50/50, good trading is effortless, and know where you are wrong.


 

Part 3- Time frame matters, important to be confidence, losing is part of the game, and lack of loyalty.



Part 4- Staying away from comfort and must love the game.



Instead of Watching Jokers on Blue Channels and Watch TV Serials and Movies ,Cricket Match….Watch these 4 videos and learn something !

Updated at 11:36/4th July/Baroda

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