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Jack Schwager

The main purpose behind this article is help you know all about Jack Schwager, the best forex trader you will come across. Got through this page to understand his methodology and philosophy on which he bases his trades.

 

One of the best forex traders, Jack Schwager, first entered the market in 1971.Ever since; he has become a known profiler of some investment greats, as well as a highly respected director of futures research. He has also penned down a number of successful books, such as “Market Wizards” and “Getting Started in Technical Analysis.” Applying many of the lessons learnt from his interviews, he has successfully made his mark in the hedge fund industry.

 

Being an MA in economics, Jack Schwager worked as a research analyst in a position initially. This gave him a deep insight into the movements of the stock market. He worked as a director in charge of researching futures from 1973 until 1979, with the firm of Loeb Rhoades. This position served as a springboard to the famed Commodities Corporation. Jack Schwager and Commodities Corporation are looked upon as practically one and the same. During his tenure with this financial services corporation, he came face to face with a number of investment and trading greats. Getting well familiar with the methods of Ed Seykota, Bruce Kovner, Louis Bacon and also Michael Marcus, Schwager came to realize successful trading is not random victory or the luck of the draw.

Jack Schwager observed and came to the conclusion that smart trading requires a close knowledge of human psychology. Moreover, methodical investing far surpasses hasty reactions to market fluctuations when trading. He went on to reveal that successful stock traders must not only be disciplined, but also expert money managers. Having a sharp eye on controlling risks, each trader must take up methodologies that are in suitable to their individual personalities. Applying another investor’s systems or trading methods will not yield similar results. It is important to adjust the individual trader’s unique mental and intuitive approach to the stock market.

Jack Schwager, the best forex trader, also gives his opinion on investment strategies. He cautions traders not to get carried away in the details of other traders’ successes. Instead they should focus more on the underlying current that appears to be synonymous. He mentions that practically all of the successful traders have a distinct ceiling for their position size when it came to the short side, which served as a failsafe and prevented their portfolios to become unbalanced.

It is not a surprise to see him managing the Fortune Group's Market Wizards Funds today.

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