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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?)
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peace, love and joy to you
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Can you help answer these questions from other members on NexusFi?
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.
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.
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.
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."
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!
