Video duration: 2m48s
Highlights:
"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:
"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:
