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027: Jack Schwager – Key Lessons Learned From Many of the Worlds Greatest Traders (aka Market Wizards)
Chat With Traders
Is Flexibility Essential for Traders?
Being flexible is essential for great traders. It means being open to change and adapting when things aren't working. A trader named Jamie May had a great trade idea but realized it wasn't going to work because of a previous shipping boom. Instead of giving up, he found a different approach and ended up making his best trade of the year. Flexibility also means being willing to admit when you're wrong and quickly getting out of a position. Great traders have no problem completely flipping their position if necessary.
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