Words of Rizdom

The TRUTH About TRADING No One Tells You | Jack Schwager

Aug 7, 2025
Jack Schwager, a seasoned trader and the genius behind the Market Wizards series, shares invaluable insights into trading. He emphasizes that understanding losses is crucial for success and advocates for personalizing trading styles. Schwager discusses the complexities of verifying trader credibility and the importance of staying informed with innovative tools. He introduces a unique platform connecting underrecognized traders with investors and highlights the evolving landscape of trading, where adaptability and continuous learning are key!
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ANECDOTE

Unconventional Success of Jimmy Malademus

  • Jimmy Malademus, a prop trader, used an unconventional, rule-breaking methodology.
  • Despite the odd approach, he made significant profits at First New York.
ADVICE

Find Your Own Trading Approach

  • Find and own your unique trading approach instead of copying others.
  • Following others without conviction leads to failure.
INSIGHT

Short-term Trading Challenges

  • Day trading has inherent disadvantages due to transaction costs and limited daily profit.
  • Some short-term traders still succeed despite these challenges.
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