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Webinar: Jack Schwager of Market Wizards
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Webinar: Jack Schwager of Market Wizards

  #111 (permalink)
The fun is in the numbers
Point Roberts, WA, USA
 
Futures Experience: Advanced
Platform: IB and free NT
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aquarian1's Avatar
 
Posts: 3,230 since Dec 2010
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I am trying to highlight that though almost everyone who attended the seminar will remember:
"I've never met a rich technical trader." three years from now, few will understand what 25% per month for 10 years audited results really implies.

The statistical odds of acheiving this if random walk were true would be enormous.
(perhaps something like selecting one molecule from the entire earth?)

Keep your mind in the future, in the now.
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  #112 (permalink)
The fun is in the numbers
Point Roberts, WA, USA
 
Futures Experience: Advanced
Platform: IB and free NT
Broker/Data: IB
Favorite Futures: ES
 
aquarian1's Avatar
 
Posts: 3,230 since Dec 2010
Thanks: 1,160 given, 1,747 received
Forum Reputation: Legendary

In any case, it was an EXCELLENT webinar, and I thank-you for organizing it and putting it on.

I am a big fan of Jack's books and love the Market Wizard series from the first read.In fact of all the many, many investment books I have read I like his the best.

This is because he highlights the many different ways to trade and be extremely successful, as Jack says "There is no one way."

It is such a great concept that Jack brings up because it highlights the importance fo selecting a method suited to our personalities and unique talents. It reminds us to not try to impose "our" way on others and that there is room for great diversity within the human experience and within trading.

If anything I posted has been taken as a slight or insult to Jack this is 1oo% not my intention and I offer my apoligies to any remarks so construed.

Happy hoilday week to all.

Keep your mind in the future, in the now.
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  #113 (permalink)
Elite Member
Georgia, US
 
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josh's Avatar
 
Posts: 4,897 since Jan 2011
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Due to holiday and an especially busy week this past week, I just got around to watching the webinar. It was fantastic, Jack is a very real guy and it was a pleasure listening to him talk. @Big Mike, thanks for asking the questions and for doing such a good job "moderating" the discussion to keep it flowing and interesting. I hope we can have him back again sometime.

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  #114 (permalink)
Site Administrator
Manta, Ecuador
 
Futures Experience: Advanced
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Big Mike's Avatar
 
Posts: 46,238 since Jun 2009
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Half of the books went out yesterday. Other half should go out Tuesday or Wednesday. Winners should have them within 1-2 weeks.

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

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  #115 (permalink)
Trading for Profit
Munich, Germany
 
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Posts: 285 since Apr 2012
Thanks: 121 given, 116 received


aquarian1 View Post
I am trying to highlight that though almost everyone who attended the seminar will remember:
"I've never met a rich technical trader." three years from now, few will understand what 25% per month for 10 years audited results really implies.

The statistical odds of acheiving this if random walk were true would be enormous.
(perhaps something like selecting one molecule from the entire earth?)


As far as I remember, the futures contest Marty Schwartz competed in lasted only 3 or 4 months every year and not the whole 12 months. So, that's a difference one should remember as well.

But that does not make it less extraordinary, as he generated this kind of performance every year during the 3 or 4 months period.

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  #116 (permalink)
Site Administrator
Manta, Ecuador
 
Futures Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
 
Big Mike's Avatar
 
Posts: 46,238 since Jun 2009
Thanks: 29,350 given, 83,214 received


Big Mike View Post
Half of the books went out yesterday. Other half should go out Tuesday or Wednesday. Winners should have them within 1-2 weeks.

Mike

I forgot to post that all remaining books went out Wednesday.

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

Reply With Quote
The following 2 users say Thank You to Big Mike for this post:
 
  #117 (permalink)
Elite Member
phl pa. usa
 
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Thanks: 106 given, 347 received

just want to say thanks for the book it arrived today -it will be a great read -

:when you cheat -you only cheat yourself
refer to post # 470 & 527 & 930
option traders refer to post 996 thru 1005
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  #118 (permalink)
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liquidcci's Avatar
 
Posts: 862 since Jun 2011
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I got my copy last week. Must say cool having signed copy of book. Thanks Mike.

"The day I became a winning trader was the day it became boring. Daily losses no longer bother me and daily wins no longer excited me. Took years of pain and busting a few accounts before finally got my mind right. I survived the darkness within and now just chillax and let my black box do the work."
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  #119 (permalink)
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Big Mike View Post
I forgot to post that all remaining books went out Wednesday.

Mike

Just got the book in the mail--I had no idea it was almost 500 pages! Looking forward to reading this, thanks again @Big Mike!

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  #120 (permalink)
Elite Member
Georgia, US
 
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Posts: 4,897 since Jan 2011
Thanks: 5,143 given, 11,242 received


I just finished the first chapter. The presentation is great, with the flow being very conversational, not just like one person interviewing another. As Jack is market-savvy, it's an actual conversation between two traders. As the Olympics opening ceremony is at the Parade of Nations and they are only up to Fiji, I thought I would take a break and post a brief synopsis of what I underlined and am trying to internalize from the first chapter. What better way to learn than by summarizing and presenting the material?

With Mike's and Jack's blessing, I would like to do this for all chapters as I finish them, and will post them in this thread (may be a bit challenging during the week but will catch up on weekends if I get behind).

The summaries are not intended to be extensive, and Jack actually presents a much better summary at the end of the interview for each chapter, but this is meant to be a bullet-point, Cliff's notes version. Even after just reading the first chapter, I would highly recommend that everyone go and buy this book. The highlights here are what stood out to me personally, and what I underlined is what I need; you might pick out many different nuggets, thus the need to read it for yourself to find out what YOU need!

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