Market Wizards

Interviews with Top Traders

~Jack Schwager

I first read Market Wizards before even placing my first trade and enjoyed the read.

I then read it about a year later after spending a lot of time in the financial markets and gained tremendous value from it. Coming back to this book from time to time should keep you oriented.

Common threads mentioned from multiple traders

-Control for risk. Risk less than 5% of your total equity (and often less than this) on any trade idea. A trade idea includes any correlated trades.

- Play great defence. Get out and re-enter if the market doesn't go your way

Michael Marcus

Bruce Kovner

Richard Dennis

Paul Tudor Jones