Unknown Market Wizards
Module Units
- 1. Introduction
- 2. Peter Brandt: Strong Opinions, Weakly Held
- 3. Jason Shapiro: The Contrarian
- 4. Richard Bargh: The Importance Of Mindset
- 5. Amrit Sall: The Unicorn Sniper
- 6. Daljit Dhaliwal: Know Your Edge
- 7. John Netto: Monday Is My Favourite Day
- 8. Jeffrey Neumann: Penny-Wise, Dollar Wise
- 9. Chris Camillo: Neither
- 10. Marsten Parker: Don’t Quit Your Day Job
- 11. Michael Kean: Complementary Strategies
- 12. Pavel Krejčí: The Bellhop Who Beat The Pros
- 13. Conclusion
Conclusion
The interviews from the eleven traders impart meaningful lessons for all traders. It reflects the basic market truth irrespective of a methodology or a time period. To summarize, the key lessons are:
- There is no single true path.
- Know your edge and find a trading process that suits your personality.
- Keep a trading journal, categorize your trades & learn from your past mistakes.
- Set meaningful stops because risk management is important.
- Stick to your methods and don’t speculate with loss.
- Take large positions on high conviction trades but don’t make it so large that fear dominates you.
- There is no place for hope in trades.
- Human emotions are dangerous in trading.
- Don’t exit the entire position at the target profit.
- Beware of sloppy trading after a big win.
- Flexibility is a trait and not a flaw.
- Being profitable v/s being right.
- Commitment, patience, and responsibility for your trades is a must.
- Trading for a living is hard.
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