January 15, 2019

Jack Schwager: Losing Is Part Of The Game

Video duration: 2m48s


"One of the keys who to being a successful trader is to understand that losing is part of the game."

"It's all about finding what works for you and it's not the same as for somebody else." 

"The most important thing is risk management they all will tell you that more important in methodology."

"Marty Schwartz spent like 10 years he says losing money and then he became a winner I asked what what changed he said I became a winner when I understood it was okay to lose."

The role of "Luck" in trading:

When asked if luck has anything to do with trading success, Jack Schwager answered that over the long run luck has nothing to do with successful trading in the markets:

"In the short run you're better off being lucky than smart, that's the old cliche. It's true. But for the long run only the traders that really know what they're doing will survive. So, in fact what luck is one of the things that fools people because in trading even the amateur  can be right because you can only buy or sell so some people think they're smart just because they get into the bull market and they're on the right side. But over the long term,luck has nothing to do with it, just for the short term."

Here are some of Schwager's books available for sale on Amazon: