Market Wizards: How to Become a Successful Trader with Jack Schwager | WOR Podcast - EP.121
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- เผยแพร่เมื่อ 5 ส.ค. 2024
- On this episode of the Words of Rizdom podcast we are joined by Jack D. Schwager in what is arguably the biggest episode ever released on this channel. He is a well-known trader, fund manager, and an industry expert in futures & hedge funds. He's the author of the best-selling book Market Wizards alongside many other books that have impacted millions of traders across the globe. He's been described as "Hands-down one of the most gifted investment authors on the planet". He's spent decades interviewing the most successful & profitable traders in the world and Jack was one of my biggest inspirations to starting the Words of Rizdom channel so it was an absolute honour to to able to sit down with him. Set aside a couple hours, grab your notebook and enjoy this incredible podcast packed with insane value.
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The #1 Prop Firm In The Entire Industry Alpha Capital. They have their own broker, their own technology, actual institutional experience and the best community in the prop firm industry.
They also still support the best trading platform for all Traders with Platform 5! 👀
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Subscribe To Alpha Futures TH-cam Channel:
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Guest's Socials:
x.com/jackschwager
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Riz’s Instagram: / wordsofrizdom
Riz’s Twitter: / wordsof_rizdom
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I hope you all enjoy this episode, let me know who you'd like to see on the podcast. 🙏🏽
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Timestamps:
00:00:00 - Introduction
00:04:50 - Discovering the World of Commodities
00:09:53 - Researching Market Statistics
00:19:34 - Finding Success in Trading
00:25:04 - Finding Unknown Traders
00:30:16 - The Role of Technical Analysis in Risk Management
00:35:19 - The Transition to Technical Analysis
00:40:12 - Adjusting the interview style
00:45:18 - The Importance of Having an Edge in Trading
00:50:05 - The Exceptional Trader
00:54:43 - Dynamic Risk in Trading
00:59:35 - Recognising Emotional Response in Trading
01:04:39 - Trading Psychology and Managing Emotions
01:09:29 - The Importance of Clarity and Objectivity in Trading
01:14:27 - Trading with Caution
01:19:25 - Managing Large Sums of Money
01:24:14 - Adaptability in Trading Styles
01:29:35 - The Rise and Fall of NFTs and Cryptocurrency
01:34:26 - The Insanity of Stock Trading
01:38:55 - The Importance of Finding an Approach That Works for You
01:43:58 - The Impact of Changes in the Market
01:48:52 - The Success and Impact of Market Wizards
01:51:05 - Final Advice and Outro
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DISCLAIMER: I am not a financial adviser. The videos on my channel are for educational purposes only
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#trading #forex #forextrading #futures #futurestrading #daytrading #podcast #swingtrading #scalping - บันเทิง
Free Telegram Community! 👉🏽 t.me/pocketsofrizdom
Free Trading Plan 👇
words-of-rizdom.ck.page/0542be7af0
__________________________________________
TRADEZELLA: All-in-one trading journal and analytics tool that provides valuable insights, trade replay, in depth reporting, and more to gain clarity, eliminate costly mistakes, and trade smarter.
⬇️Use Code “RIZ10” for 10% off your subscription ⬇️
www.tradezella.com/?via=riz
⬇️Use Code “WOR” for 20% off your yearly subscription ⬇️
www.tradezella.com/?via=riz
__________________________________________
The #1 Prop Firm In The Entire Industry Alpha Capital. They have their own broker, their own technology, actual institutional experience and the best community in the prop firm industry.
They also still support the best trading platform for all Traders with Platform 5! 👀
Use Code "RIZ" for 20% OFF ALL Challenges.
👉 app.alphacapitalgroup.uk/signup/RIZ 👈
Thanks big man
Riz for all the traders you have interviewed and all the knowledge you have amassed ….is your trading now significantly more profitable and consistent than it was before you started the podcast?…if yes great…if no then does this prove knowledge is non effective in most traders have read mark Douglas trading in the zone and still 95% are broke and unprofitable
We need DAPO WILLISnBACK PLEASE
Avoid tradezella to avoid financing dangerous Islamist world domination aspirations
I much more enjoy hearing the older folks chat about trading. Then the regular ol new bucks bullshittin away w the same stuff. lol
Big factsss lol
Fo real, Some the ypung guys i believe arent as profitable as they claim
10000%
Totally agree. The wisdom and experiences of the older folks is invaluable, many lessons to be learned!
Right ! Me too
Seeing Jack Schwager here is making me think what it would be like having Mark Douglas on this podcast..Another true legend that left a legacy ...
Unfortunalety mark is death
Ohhh I miss Mark Douglas
RIP to the great. We'll never know
🔥🔥🔥🔥🔥 I've read every single one of the Market Wizards book. Great job getting Mr. Schwager on.
No way that's awesome!
How many books are there?
@@nickd2513 About 5 series
I've read them all and they first three I've read 5x. There's always something new to pick up as you develop further.
Have you read Complete Guide To Futures? I was unaware of it until this interview. It's my next resource purchase.
Finally one proper REAL trading GURU. Enough of those Instagram traders man. The best traders are not even on the IG. Thank you for this. People want to see these real ones!! Wonderful.
u said it all my guy
My favorite parts is when they speak about phycology. If you have an edge with specific entries and exits and you have the discipline to follow your rules. You eliminate most emotions.
he finally listened to our advice of interviewing the old timers instead of all the instagram trader kids.
Agreed dont trust 99.9% of them so called fake gurus
You should interview more older traders like this. Learned so much from Jack schwager.
Ed seykota
The kind of interview you take notes while listening. Great work Rizz. Definitely the best podcast in the industry
Reminiscence of a stock operator is everything. May god.
Riz you are official in the traders hall of fame with this one 🔥
Ladies and gentlemen riz has achieved perfection..an interview with Schwager is the pinnacle…every other person he has interviewed must bow down and salute a giant of the industry
@@PrinceNagar-oq8efdo you know who this guy is…legend
Yes, Jack is a legend. Bowing down is a little excessive, though I understand your excitement. I believe Riz is on a whole other level, but nice to see the new era greatest of all time interview an older era goat.
Until he gets ICT on that sofa, then Greatness can be attach to the shiw, furthermore there no reason back and front personal judgement on ICT, ask open questions from your guest and we listener decide, every technic works, in trading, stop your BS, Swanger just confirm " risk management is vital.
No bowing down guys come on 👎🏾
What a gem of an interview Riz.
You only trade your beliefs about the market and not the market itself.
All strategies work, what doesn't work is "You" the trader
thank you Riz.
Beautiful. Caught my attention ❤❤
"You only trade your beliefs about the market and not the market itself.", well I've heard that from Bill William. Are the traders from that era have kinda same thought analysis?
WOW! Finally a good interview with a real trader. Please keep this up!
One of the best podcasts. Every trader needs to listen to this
You managed to get Jack Schwager on your pod?? Awesome!
Yep insane all other people who have come on thinking they are bigwigs pale in comparison to schwager
@@ruthryan9173 Stop comparing it shows you still an unprofitable neophyte.
Riz your best Interview to date. The 5 Market Wizards books should be on every traders bookshelf.
What a privilege to be able to listen to this, Riz, well done having Jack is something special. Your growth has been phenomenal in terms of guests!
I was always impressed with the content but the new look is truly amazing, the thumbnails and edits look worthy of +1mil subs.......and now you're interviewing Legends 🎯 having watched almost all your content ,i see your growth and am glad that I am somehow part of this.....not to mention the all the sauce we got from your guests 👌🏽 it's amazing seeing it
riz has just ascended.. now he is the trading podcast GOD..
Interviewing Jack and his ideas about the financial markets. Is a must read the Market Wizard Booo. Greetings from Ghana 🎉
This interview will be on my replay list for years to come!
Well done Riz, great interview and a great guest.. yes id love to see older traders like other commenters here.. id love to see Anton Kriel or Tom Dante on 🍀👍
Riz, your specialty is that you're a good listener hence why you can ask such good questions thus leading to amazing interviews
“Once you enter the position, the objectivity is no longer there.” So simple, but so true & instructive. Thank you both 🙏🏾
Thank you for tuning in🫡
I'm set to watch this not twice, but as much as I can, because to say that it will be valuable is definitely an understatement, Riz has pulled a rabbit outta a half with this one, Legend meets legend... Real recognize real 💯🤩
Happy to see your success Riz, thank you for everything you've done for traders trying to find their way in this space.
Brilliant interview, well done. These are the types of guests that I’d like to see more of being interviewed. I would have liked you to have asked some questions to him about prop firms and the prop industry more broadly. (More elaborate conversation on the topic)
Thank you for bringing the Legendary Riz, your podcast stands out 🙏
Damn Riz... U have completely leveled up with this one 😮 u truly have the best Podcast in the Trading Industry
He is miles off chat with traders. Good to see him have a decent worthy guest on finally.
The great podcast I ever watch, this podcast shift my mind. Thanks 🙏🙏🙏🙏
Jack Schwager interviewed the best traders in his time and wrote a book. Riz is interviewing the best traders now. Riz is the new Jack Schwager of this new age. Words of Rizdom is the new Market Wizards. Well done my friend!
Brilliant guest, Riz! Can’t wait for this one.
Riz, my trade journey is filled with learning from fakes, gurus, and professionals. Thank you for bringing true knowledge and conversations. I value your channel and mindset.
You asked great questions and delivered something special, thank you for sharing this with us Riz! By far my favorite episode
What a great interview! I watched it twice and took notes. There’s something about listening to him talk - I could sit here all day. 💪
A huge insight in psychology and your edge as a trader on this episode. Big gems🔥
Thanks for doing this interview. The market wizard books had a huge impact on my trading. Now I run a hedge fund. The takeaways that have served me best from the books were: Everyone gets what they want from the markets, from Ed Seykota. Very similar to what Jack said here you trade your personality. And you really do have to have a passion for it!
Well done Riz. Your questions were on point.
Thank you Riz,this was a great conversation,when he said a trader,trades their personality,pin dropped right there brev. Look forward to more stuff
Brother your podcast are really insane and I also work hard on myself and one day I'm gonna be in your one of the videos in future and lastly I'm not better than the next trader, just quicker at admitting my mistakes and moving on to the next opportunity. Full support brother 🙏..
Number 1 podcast 👌 🙌 blessings for this bro appreciation riz
I've always contemplated on what's essential between edge and psychology, but this episode has cleared everything up. It is important to focus on the edge and in doing that it has a positive psychological effect as the benefit.
Rizzzzzzz❤.
I want to say it with guarantee. That the this channel changes everyone life whom accept the everything in this channel videos say. This it world s best psychology devlopment finding.
Now this is an awesome episode, Awesome job riz getting these guest. I like hearing some of the older traders get on and share their experiences
Now this is the podcast we wanted, stock market wizards is my fave, one i love to go back too
i actually have the other 4 books and even "the little book of" version. after reading your comment I think it's time i finally cop the stocks version
This is the best Podcasts of a well old trader
with track records of edge ,and excellent book 📚 of experience, that's amazing
What a privilege to be able to listen to J Schwager interview😊
Wow, you manage to get such an OG on the pod ! That's crazy ! love to see the progress
I read Market Wizards in 2003. It was more helpful than all the strategy books I read. Thank you for this interview. Jack is one of my all time heroes
This is a lot. We love it here at WOR❤❤❤❤
Number 1 podcast 👌 🙌 blessings appreciation 🙏 riz
Good insight. One of the best interviews 👌
Best books. Enjoyable and educational. Especially on audio
Very powerful books that’s for sure 🧠
RIZ YOURE ALMOST AT 200k !!!!
best interview yet, well done for this one
Am here to say Riz you are a leagend. Now we taking.
What a coincidence man I'm reading his book Market Wizards n currently on a Part 3 A little bit of everything chapter of Buying value and selling hysteria by James B. Rogers jr. n now look who's on the podcast the man himself Jack Schwager .. Great pod man looking forward for more🙋
This is the best interview that I've watched.. just shared the link my trading space 🚀 this would be the most popular video on your TH-cam..
Cudos Riz 🎉🎉 thanks for the effort to make this interview happen... I have always imagined this , I never knew it would come to pass
I must credit those who had an idea 💡 of book. I have read his most of his work in form of book. It is good to hear my teacher.
I guess this is a sign to visit my personal library again and re-read the entire series!
I hate you put some many professional course sellers on, but you are damn good interviewer! Questions were on point and you let your guests speak instead of pushing some agenda, truly top level
Thanks for bringing this legend on, his books have helped me like no other
Amazing person amazing interview and amazing spot👌
This is an amazing podcast. Price reflects everything that happens in the market ❤
A awesome interview thanks so much Jack is one of my hero's
Woow your best work yet. Very insightful
So good❤ I've listened to his books and am so enjoying this interview
Thank you so much, you asked all questions that I wanted to ask Jack.
Well done man! Loved it!
This podcast is GIGANTIC 👍🏼
Can't wait for this one AWESOME
Hats off to Riz you're on another level bro
Good work, Riz. Well done 👏 👍💪
One word for this podcast is Epic 🦅❤️
you're doing fantastic man great interview as always! Legendary.
His memory will long on on this podcast forever 🎉🎉🎉
Well done, Riz.
Now THAT is Quality content. More please.
Loved this , so much knowledge in one video
Sometimes we find ourselves on a path that makes us big mysteriously.
My whole outlook on how I approach the market has changed from this interview onwards.
GREAT podcast! 🗺
Riz is a blessing to the industry🤞🏾
i coudn't comment my biggest take away becouse the pod it self is the best pod i ever had from u riz
Great interview! Thank you!
Loved this episode!
This is what I have been waiting for 💯💯
This is Amazing
Much Respect for Riz
I read 4 of Market Wizards books, they are the best ever, The legend did outstanding work.
He is a legend for sure! Thank you for tuning in🫡
Now you are really getting the proper people onboard very happy with your trajectory Riz
Great podcast man!
Timing is a key element
Anyone noticed how tamed Riz was in this interview?😀. Great Interview with one of the Greats
Good content ahead
Its My 1st time on the show and am feeling so hyped
lost a 5k account yesterday
cant wait for this gem!
The most important thing i got out of this is managing a large amount of money is a problem, that statement alone gives insight on why the market move the way it does, its a problem market moving in the most efficient manner.
Great interview. Made me realize that im kind if a rare trader.. thanks.