Jack D. Schwager first entered the market in 1971. Since then, he has been a highly respected futures research director and well-known investor researcher - among many he met was while trading for the Commodities Corporation.

As a biographer, he has written several successful books, such as "Market Wizards" - a term that spawned a series of Wall Street Witches. - and also the book "Getting Started in Technical Analysis".

Since then, he has made his mark in the hedge fund industry, where he applied lessons from his interviews and successfully managed Fortune Group's Market Wizards Fund.

In 1971, Jack Schwager joined Reynolds Securities for a period of two years. With a solid Master of Economics in hand, he initially worked as a research analyst in a position that allows him to dig deeper into the movements of the stock market. From 1973-1979, he served as director of futures research for Loeb Rhoades Hornblower. And this was a stepping stone to help him leap to the position of research director at Smith Barney, a position that Schwager assumed from 1979-1983. This position served as a springboard for the Commodities Group for a year, then in 1984 he joined Paine Webber, and in 1988 as Prudential Securities - he remained with the company in several positions. until 1999.

He not only worked for Financial Services Group Commodities but throughout his tenure, he enjoyed many investment and trading opportunities. He familiarized himself with the methods of Ed Seykota, Bruce Kovner, Louis Bacon, and even Michael Marcus

After studying their methods and systems, Schwager realized that profitable trading was not an accidental success or lottery luck.

While compiling his works on Wall Street trading and stock investing - the popular Market Wizards series includes "Market Wizards," "New Market Wizards," and "Stock Market Wizards", Schwager soon realize that wise trading requires a deep knowledge of human psychology. Moreover, investing methodically goes beyond the "knee response" to the market's ups and downs when trading.

In a 2003 interview, Jack Schwager revealed that successful stock traders must be disciplined and experienced managers with a vision of risk control; they must also use methods that match their individual personalities.

This seasoned author and stock trader learned that simply applying the trading system or method of other investors will not produce similar results, especially if the system does not is consistent with the investor's unique spiritual and intuitive approach to the stock market.

Jack Schwager chooses his own investment strategy and warns readers not to get caught up in the details of other traders' successes, but instead, to maintain a steady follow-up of the actual current of the traders. surname. He shared that all the successful traders he had the opportunity to talk to clearly define the ceiling for the size of their positions when taking into account short trades. This acts as a hedge and will not allow their portfolios to go out of balance with short positions exceeding a predetermined percentage.

Schwager's citing so many financial losses - especially in recent years - has lifted his book to fame: with the help of rich interviews and comparisons. meticulously the facts and data, he said that preventing loss is equivalent to disciplined risk control.

Therefore, he warns traders not only to manage risk but to control it in the first place. Schwager urged traders to stay away from engaging in inconclusive and overtrading positions.

He believes that the attempt to regain capital from losses rather than cut losses leads to a lack of discipline when it comes to controlling risk, and as a result, unprofitable investors and traders cannot see market conditions as What, leading to a drawdown is natural.

Jack Schwager has drawn all the lessons from his interviewees and is currently applying them to hedge fund management, which he sees as a viable and profitable alternative to usual investment.