If you could ask anything to the man who has interviewed the world’s top traders, what would it be? In this episode Jack Schwager, author of the legendary Market Wizard series, discusses writing his books and the answer to that seminal question – what are the characteristics of great traders? Jack also discusses FundSeeder, his new project designed to find the undiscovered great traders.
Jack Schwager wrote Market Wizards to capture the characteristics of great traders through their stories.
Starting with Michael Marcus and then Ed Seykota, he went on a cookie crumb trail around the USA and created the legendary Market Wizards series. Filled with timeless truths the books are classic literature for every trader.
In this interview hear how the Market Wizard series evolved, what Jack Schwager learnt from writing it, and the seminal question to ask the Market Wizard himself – what characteristics make a great trader to set them apart from everyone else?
Jack discusses two traits in detail:
1. There is NO ONE WAY TO MAKE MONEY IN THE MARKETS and you have to find an approach that fits your belief system. Many Market Wizards view each other’s trading approach with complete cynicism and they often have conflicting opinions 180 degrees apart.
‘There are a billion ways to make money in the markets. Unfortunately they are all difficult to find.’ – Jack Schwager
2. You need complete FLEXIBILITY and LACK OF LOYALTY to a share. Great traders are able to change their direction on a dime, not only are they able to get out but they are able to flip positions.
Jack also discusses FundSeeder, his new project to discover undiscovered trading talent and connect them with investors. To find out more go to www.fundseeder.com