After the hundreds of trading books I have read and spending thirteen years actively managing my accounts I still consider Jack Schwagers Market Wizards Series the best of the best. Why? His trading books are not based on theories, opinions, predictions, or beliefs, he goes down a completely different path. His books are based on interviewing the very best traders in the world, the ones with the very best returns and consistency year after year, the millionaires, the rich traders, the traders that trade for a living either through personal accounts or by managing millions and even billion for wealthy clients. The Market Wizard series of books gives you an up close look at how rich traders were able to find and master a trading style that fit their personality and allowed them to beat the market year after year. If you read these books carefully and pay attention you will find some trading principles that are gems that could revolution your trading. I know his books have done that for me. If other trading books are like letting you see a trader’s trading plan then Schwager’s books are like allowing the reader to see directly into the mind of the rich trader. Schwager not only located the very best traders and investors in the world and got them to talk; but in addition his interviewing skills brought out the real insights that these wizards had to offer for readers of the books. Many traders would gladly pay thousands of dollars for the opportunity for some one on one time with the likes of Ed Seykota, Paul Tudor Jones, and other legends of the money management business. But here we are with the opportunity to look into how they operate for a few bucks. However the reader must understand that these traders offer the principles, rules, and concepts that made them money. You will get the real Holy Grail of trading: risk management, psychology, and how to develop a winning method. What really matters and what really works. While you will not get their proprietary trading systems you will receive all the tools on where to look and how to build your own system and once you have it how to manage risk and follow it. These books are the filet Mignon of my library of trading books.
I would put these books on the top of any must read list of trading books.
