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This was recommended to me by a couple of master traders when I asked for a book on trading psychology.Schwartz counts himself as a 'street kid' - i.e. someone from an ordinary background, rather than a Wasp Ivy League family. His self-image is a little bit different from reality, in that his family did have a strong work ethic and an entrepreneurial streak. He may have done a lot of 'street' things in his youth, but his academic record is excellent. He was also in the Marine Reserves as an offi...
Pit Bull gives a good and entertaining insight into the mind of a Market Wizard. "Buzzy's" book makes you sometimes laugh out loud.Particularly interesting; anyone who considers managing other peoples money should read this book. Buzzy shows the dark side of this business and how negatively it can affect the money manager.Don't expect another Remiscence of a Stock Operator, for that Pit Bull lacks depts on the psychology of a trader and focuses mainly on short term trading (the author is basical...
One of the few books, other than children's books, that I have read several times. It is an investment book that chronicles the life of Marty Schwartz, who was the top trader in the 1980s. While many investment books are dry, this is an emotional roller coaster that is more about the pressures, successes and failures that high risk investment traders live. A fascinating and frank account of the life of a top trader.
"Preparation pays. It’s essential to know more than the other players in the game.Dare to dream. It’s not where you are, it’s where you’re going that counts.“If you don’t have a dream, how you gonna make a dream come true?”There is no shortcut in trading, the market will quickly find out if you are lazy."
Awesome autobiography from one of the best traders of the late 20th century. Definitely recommend. I'm reading it again for the third time in the last 10 years.
I just like this book. It's fun, brilliant and most importantly, it tells the ruthlessness of the trading world.
The great autobiography of/by Martin Schwartz, one of the best traders ever
(less known) classics on trading (in my top 3 of best books on trading in financial markets!)
Fun book on trading psychology that tells you that you need to know yourself well before you get into trading. Your greatest enemy in the markets is your own self that will make you want to call "uncle" for your fear of going "tapioca!" And the corollary that since no two people are similar in terms of their emotional/mental outlooks, the same strategy does not work equally for everyone. You need to develop your trades in line with your personality. Know thyself and divorce the ego from the trad...
This is quite a captivating one. The author takes your alongwith on his journey from a novice trader to becoming a "champion" trader. This book doesn't give you any real trading techniques but it clearly speeds out all those characteristics which you need to develop in order to become a good trader - most important being "hard work". Plus Martin's narrative is quite candid, he writes it as he thinks about it - no sugarcoating, no overlaying.Its an unputdownable book!Must read for an aspiring tra...
"Normal?" I said." Who wants to be normal? Doc what you've got to understand is that ever since I was five, I've tried to be abnormal or supernormal. Get ahead, get ahead, get ahead. Im a trader.No trader is normal. If I wanted to be normal I'd put my money in an index fund and be an analyst"Im a swing trader and have been a swing trader in heart but I found this book highly insightful. Its a diary form a successful high frequency scalp trader and its full of great advice for any trader whether
Loved how the auto-biography shows moments of genius in Schwartz's career, as well as some really daft moves. You get a great sense of pride coming out of him, the desire to become great, but also the humility to show his mistakes.The characters in the story are mostly painted in broad strokes, good enough for brief anecdotes, the chapters are rarely longer than a few pages. Makes for good toilet reading even if you're uninterested in Wall Street.
Was looking for a book that was trading stories, anecdotes etc and not a technical how-to or a trading book trying to pitch me a method and this was the right pick. An interesting trader who started trading properly at 35. Didn’t realize he was an actual market wizard until I was halfway through it. Worth a read for the story about the journey rather than the how to be an amazing trader.
An inspiring story about Martin who started trading for a livelihood at 35. His disciplined and methodical approach combined with the kill you mentality on the trading floor is inspiring. This book will show you what it takes to be a professional trader. And if you do choose to go down this treacherous path, what should be your game plan.
Good Stock Market YarnsYou won’t get closer to what life was like in the old market pits than this. Excellent read for experienced stock traders who wonder about the old days. There’s some practical technical advice for traders, but it may be outdated in today’s quant-dominated markets.
Already soo many people give the review of this book. in one line this book is journey of Schwartz in trading words. it's worth to read, how Schwartz develop, his trading psychology. My favourite chapter is The Pit Bull’s Guide to Successful Trading.
A very enjoyable memoir from Schwartz, one of the great characters in Jack Schwager's "Market Wizards" book.
This is a must read if you work in finance.
One of the most inspiring and contemporary stories of Marty the Pitbull Schwartz.Following his dream , creating a plan and sticking to it.
One of the legendary books about the stock market
One of favorite trading book
Good entertainment, but probably not so applicable to aspiring traders of today I'd think.
Interesting memoir of Marty Schwartz though by the end it feels like he just wanted to wrap it up because of disjointed chapters.
It was an entertaining read and an interesting autobiography. It was also interesting to learn about another technical approach, Magic T, which I'd never heard of until now. Mostly I enjoyed having a window into the mind of a great trader.
Interesting book on how a trader's mindset works and how each trader develops his own strategy.
A great memoir on the life of Marty Schwartz. How he started trading, the ups and downs of his trading career & health, managing funds, his strong desire(obsession) to trade despite his health, etc. Schwartz is a day trader/scalper. At the end of his book, he mentioned that he cut losses quickly but take winners just as quickly. He knows his weaknesses, which are insecurity, fear of losing, and need for constant reinforcement and frequent gratification. Hence, his trading style requires a high w...
This book, if nothing else, is really entertaining. If you're a trader, or have any interest in numbers, it's even better, but Marty Schwartz' humor and descriptive writing style really shines here. This book chronicles his career as a trader starting from when he bought his seat at the American Stock Exchange. Instead of focusing all on numbers and the market, he also writes about his personal life and the sometimes funny but very real intersection between his marriage and trying to make it in
This was a very good book if you're into the markets or investing of any kind. The book delves into Martin's mindset and what he needed to become a champion trader, as well as how the physiological aspects of his trading took there toll on him as a person. He made some amazingly profitable trades. If you have ever invested you know it's a tough pill to swallow when you lose money, and great when you win. It takes a special kind of personality to do what he did on such a big scale and not everyon...
A colleague endorsed this book for me so I was more than interested to read this book. And it is true that I enjoyed the stories and the insight to a successful Wall Street Trader. As I read stories about these traders, I sometimes think they are sick but usually find them geniuses, maybe cold blooded geniuses when they are in the playing the game. I often wonder how they ever relax and enjoy simple things? My thanks to Martin Schwartz for sharing his inside life.