schwager

Jack Schwager is the author of the well-known Western bestsellers "Market Wizards" and "New Market Wizards", in which he summarized the experience of the best traders and the most successful investors. Schwager's first book, published in Russian, became an 800-page tome "Technical Analysis. Full course ", published last year by the publishing house "Alpina Publisher". In his book, Schwager also included the quintessence of market wisdom - tips for traders. With the kind permission of Alpina Publisher, we publish the tips in a slightly abbreviated magazine version. Start trading 1. Differentiate between important long-term position trades and short-term trades. Average risk for short-term transactions (implied by the number of contracts in the position and the exit point) should be much less. Besides, the speculator should focus on trading long-term positions, as they are usually significantly more important to the success of the trade. Error, performed by many traders, is, that they are so immersed in trying to catch short-term market swings (creating tons of commissions and slippage), what major price movements are missing.