![]() ![]() Put it to good use - put some happiness to the world (so you will be happy too). We are always trading time away - everyone is a trader. Trading can't be the most important thing. Does it really make money over time? Does the method and plan fit your personality? Does the kind of trading fit your personality? As the poker champion Doyle Brunson said: it is hard enough to face a table of opponents and you don't want to fight yourself.ģ) Balance your life. ![]() He has been both a futures day trader and also an options trader and was successful with both and also other markets. Keep the plan as simple as possible at first because it is like food allergy, you need to find out what is making you sick. (Buzzy) Schwartz trader who made a fortune successfully trading the financial markets. > look at the Profit/Loss real hard and let it speak to you. Study the market characteristics -> find a methodology that works based on your studies -> put together a realistic trading plan -> paper trade the plan, practice it, correct it. Unfortunately, I found trading to be a lonely path, you really have to find your own way but there are other's foot-prints and a very few who is willing to lend a kind helping hand if you are lucky (no money involved). You can really get killed with unrealistic expectations. Everyone just tries to sell you the dumbo feather and stroke your ego. In this quote, Jesse Livermore a famous stock trader during the early 1900’s, takes on the same sentiment with a less cordial approach. In the financial markets, every gain (or loss) is balanced by a loss (or gain). His trading style was to get in and get out quickly. Honesty is the key to success and happiness in life and after.Ģ) Trading is not easy. It’s easy to forget that trading is a zero sum game. Schwartz Schwartz was profiled in the Jack Schwager original classic Market Wizards. I have heard the same thing from Bruce Lee's interview to the precious meditation instructions passed down by Buddha Shakyamuni 2500 years ago. Marty said it himself that everyone's psychological make-up is different, what works for him might not work for someone else.ġ) You got to be honest with yourself, your trading plan and your life. ![]() I hope this thread has been helpful in studying parts of Martin Schwartz's great book "Pit Bull - Lessons from WALL STREET's Champion Day Trader."ĭid the book help me? It is definitely inspiring and most importantly Marty shows his approach, work ethics and philosophy. I think I am going to stop for a while at this point and focus on my trading and other things. ![]()
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