Customer Reviews


37 Reviews
5 star:
 (23)
4 star:
 (8)
3 star:
 (2)
2 star:
 (1)
1 star:
 (3)
 
 
 
 
 
Average Customer Review
Share your thoughts with other customers
Create your own review
 
 

The most helpful favourable review
The most helpful critical review


21 of 22 people found the following review helpful
5.0 out of 5 stars Market wizards; interviews with top traders
A book containing fascinating insights into the thought processes, psychology, early failures, successes and experiences of 17 or so succesful traders in several markets; futures, currencies, shares, pit trading, etc. Almost entirely American, covers mainly the 1970's and 1980's situation.
All wrapped up within the framework of interviews by the author, who gives us...
Published on 12 Nov 2003 by JKH

versus
25 of 28 people found the following review helpful
3.0 out of 5 stars A primer on key beliefs and fallacies held by professional and lay traders
Market Wizards is the first in a series of three edited collections of interviews of professional traders with fellow trader Jack Schwager. The latter has already earned a reputation as the author of a comprehensible and comprehensive guide to financial futures trading. This book reproduces the first set of interviews taken around 1988 and concerns mainly US futures...
Published on 12 Sep 2006 by Kurt Steiner


‹ Previous | 1 2 3 4 | Next ›
Most Helpful First | Newest First

21 of 22 people found the following review helpful
5.0 out of 5 stars Market wizards; interviews with top traders, 12 Nov 2003
By 
JKH (United Kingdom) - See all my reviews
A book containing fascinating insights into the thought processes, psychology, early failures, successes and experiences of 17 or so succesful traders in several markets; futures, currencies, shares, pit trading, etc. Almost entirely American, covers mainly the 1970's and 1980's situation.
All wrapped up within the framework of interviews by the author, who gives us the impression of bringing a high degree of knowledge as he guides the interviewees into revealing their experiences and principles of operating.
A refreshing antidote to the ten-a-penny instant opinions so readily put out by teenage scribblers everywhere.
This book should certainly be of interest to aspiring traders, probably also to investors who wish to understand more about who they're sharing the market with, and I think to anyone with more than a passing interest in financial markets and psychology - all written in an accessible style.
I enjoyed it hugely.
Help other customers find the most helpful reviews 
Was this review helpful to you? Yes No


5 of 5 people found the following review helpful
5.0 out of 5 stars The reputation is well deserved, 23 Nov 2007
Back in 1997, a friend and colleague introduced me to the markets for the very first times, futures markets at that. He told me that to become a successful trader, I needed to read far and wide. I was given, as an introduction, two suggestions, "Reminiscences of a Stock Operator" and anything by Jack D Schwager. I got hold of the first one ok (an awesome book, read in one day on a cold wet day at Phillip Island) but the other never made the priority. Until now, nearly ten years later. I grabbed Schwager's three volumes on the "market wizards" in one fell swoop and after reading this volume can't believe I never purchased it earlier. Whilst the trading scenarios are now dated the insights into trading are very relevant and I gleaned many insights into trading that had previously eluded me. Schwager's interview style and writing ability is first rate (for an American), and I enjoy his laid back, humourous approach. This is a valuable volume and a must for all serious traders.
Help other customers find the most helpful reviews 
Was this review helpful to you? Yes No


5 of 5 people found the following review helpful
5.0 out of 5 stars Learn from other's mistakes, 5 Mar 1998
By A Customer
This book is absolutely essential reading for traders just beginning and those experienced traders who "just can't get over the hump". Schwager asks the top traders all the questions that any other trader would want to ask, and pushes the pros to reveal their money and risk management tips and "rules", philosophies, discipline, psychological traits, and general characteristics of successful traders. In addition, there are plenty of good stories the successful traders relate to Schwager, which makes the reading more interesting. Most importantly, the reader will learn the mistakes that most traders make during their careers, and thus why most people never become successful traders. These characteristics of losing traders are compared to those characteristics of the successful traders, and the reader will learn what it takes to make it in the markets, straight from the pros.
Help other customers find the most helpful reviews 
Was this review helpful to you? Yes No


25 of 28 people found the following review helpful
3.0 out of 5 stars A primer on key beliefs and fallacies held by professional and lay traders, 12 Sep 2006
Market Wizards is the first in a series of three edited collections of interviews of professional traders with fellow trader Jack Schwager. The latter has already earned a reputation as the author of a comprehensible and comprehensive guide to financial futures trading. This book reproduces the first set of interviews taken around 1988 and concerns mainly US futures traders.

The spectrum of interviewees covers both self-made men, career traders and the more academically educated traders who switched to trading. It also includes, quite rightly, a psychologist/trader coach. Some of the names still ring a bell today, Ed Seykota, Paul Tudor Jones, Jim Rogers, Marty Schwartz and Mark Weinstein. Others have been all but forgotten since, but that does not devalue their two cents' worth.

My interest in this book was to assess the drivers that make these traders what they are/were - reputedly highly profitable and successful individuals. The book does deliver in this respect; it distils the interviews down to some of the more pertinent questions.

So, what makes a good trader? A willingness to learn, to dedicate oneself, ability to exercise emotional control and apply trading systems without second guessing, the energy to develop a trading system and to perfect it continuously, the commitment to continuously study the market and develop what-if scenarios, and the courage to cut losers quickly and manage your money, and finally the willigness to suffer the excruciating delay of the gratification coming from locking into profits as they evolve. All in all - hard work, hard work and hard work - as well as some technical knowhow.

The book does not provide trading systems as most traders talk around rather than about their proprietary technology, however they all do emphasise trading systems should be developed or studied so as to at least comprehend how they may influence other market participants. In this respect, a majority of traders makes extensive use of technical analysis in addition to fundamental analysis.

Finally, the book highlights the need for aspiring traders to be aware of their inner self, i.e. the psychological dimension of trading and the interaction with our character traits. In this respect, the book did neatly set the scene for the later and better books "Traders" and "The Psychology of Trading" by Brett Steenbarger.

All in all, the book deserves its place on an aspiring trader's bookshelf and has certainly pointed me to further areas of study and related books.
Help other customers find the most helpful reviews 
Was this review helpful to you? Yes No


1 of 1 people found the following review helpful
5.0 out of 5 stars Essential reading for all aspiring traders, 26 May 2012
Verified Purchase(What is this?)
This review is from: Market Wizards: Interviews with Top Traders (Paperback)
I consider this book a MUST read for all those people interested in trading the markets. There are nuggets of wisdom in all the interviews in the book, which cover successful traders who trade using wildly different trading strategies covering different markets. One common thread in virtually all the interviews is the importance of appropriate risk management and the psychology involved in becoming a profitable trader. Each trader describes how they trade (without going into specifics), some 'war stories' of huge wins and losses, including the 1987 stock market crash, and in a lot of cases, how they overcame early difficulties to become successful.

Although the book was originally published over 20 years ago, the principles talked about remain as timeless and important as ever. For me (and countless others) who are trend followers the book introduced famous traders such as Ed Seykota and Larry Hite to the general public. My own dog-eared copy still gets read on a regular basis, and is a great resource for traders of all types.
Help other customers find the most helpful reviews 
Was this review helpful to you? Yes No


1 of 1 people found the following review helpful
4.0 out of 5 stars Sets your mind straight, 27 Oct 2011
By 
Michael (Manchester, United Kingdom) - See all my reviews
(REAL NAME)   
I have only just started reading this book, into the 4th interview so far. The book offers the truthful experiences of various high profile traders and in so doing presents the realities of trading in non garnished terms. Inspiring and cautionary, I can only become a wiser trader after reading this.
Help other customers find the most helpful reviews 
Was this review helpful to you? Yes No


1 of 1 people found the following review helpful
5.0 out of 5 stars Best trading book ever, 9 Jun 2011
By 
I have read this book over and over again and I have to say this is the most important book on trading ever written for the beginner or advanced. The reasons being it shows there is no right or wrong way to trade. All the traders have their own style which works for them, it gives so much advice if you just look closely enough. But the best thing about this book is the way it leads you to other excellent trading books. Market Wizards to me is the bible of trading books, absolutely fantastic.
Help other customers find the most helpful reviews 
Was this review helpful to you? Yes No


1 of 1 people found the following review helpful
5.0 out of 5 stars Inspired reading even if you're not really into trading there's much that can be taken from this book., 12 Dec 2010
Verified Purchase(What is this?)
This is just one of those books I could not put down, this is rarity in my case as I usually have three or four books on the go.

What I like about market wizards is the way I felt as if I was in the room doing the interviews with top traders and the sense of humanity you feel from the traders. The guys interviewed in this book don't come across as cool ice machines or calculating fiscal generals. In fact you get the real sense that they could just have easily failed if it wasn't for a strong lucky streak in the beginning of their careers or being in the right trade at the right time to set them on their way.

I'm sure most traders make fair losses when staring out and it's reassuring to realise that this is normal even for the most successful of traders. It makes it feel okay to, have a go - lose - change system - have another go.

The advice in this book is also excellent and has helped me already. This book will pay for itself in successful trades so long as you stick to its principals.

I would say that this is not and introductory book to trading and that some understanding of basic trading principals and language will be a great help when reading this book. If you are a complete beginner I would recommend this as your second book, your first being an introductory read.
Help other customers find the most helpful reviews 
Was this review helpful to you? Yes No


1 of 1 people found the following review helpful
4.0 out of 5 stars Fascinating insights and lessons on trading psychology and application, 11 Dec 2010
By 
Alan Brighton "Alan Brighton, Business coach" (Tilbrook, Cambridgeshire) - See all my reviews
(REAL NAME)   
I'm new to the detail of stock market investment, however this is an easy to read introduction to a very wide variety of trading strategies and approaches from interviews with long-term successful US traders. Covers a very wide range of markets, but the lessons are as much about the do's and dont's of trading that apply to any market. Some fascinating insights, and entertaining stories about big wins, big losses, and what to do in times of massive volatility (1987 etc.). Of course it's out of date in many respects, but from my limited viewpoint the lessons are probably timeless. Interesting summaries by the author that bring out the lessons to be learned at the end of each interview. Possibly not a guide for a UK stock investor looking for how to lessons unless you just want a damn good read.
Help other customers find the most helpful reviews 
Was this review helpful to you? Yes No


1 of 1 people found the following review helpful
4.0 out of 5 stars Many different points of view on trading strategies., 30 Jan 1998
By A Customer
I enjoyed the inquisitive nature of the interviewer (Schwager). He challenged the traders with various different questions. I feel the book is a must read for any one in the "Trading Game"
Help other customers find the most helpful reviews 
Was this review helpful to you? Yes No


‹ Previous | 1 2 3 4 | Next ›
Most Helpful First | Newest First
ARRAY(0xaed8fb28)

This product

Market Wizards: Interviews with Top Traders
Market Wizards: Interviews with Top Traders by Jack D. Schwager (Paperback - 23 Feb 2012)
14.59
In stock
Add to basket Add to wishlist
Only search this product's reviews