027: Jack Schwager – Key Lessons Learned From Many of the Worlds Greatest Traders (aka Market Wizards)
Chat With Traders
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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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Transcript
