Market Wizards: Final Word

Common demoninators

All those interviewed had a driving desire to become successful traders---in many cases, overcoming significant obstacles to reach their goal.

All reflected confidence that they could continue to win over the long run. Almost invariably, they considered their own trading as the best and safest investment for their money.

Each trader had found a methodology that worked for him and remained true to that approach. is is significant that discipline was the word most frequently mentioned.

the top traders take their trading very seriously; most devote a substantial amount of their waking hours to market analysis and trading strategy.

Rigid risk control is one of the key elements in the trading strategy of virtually all those interviewed.

In a variety of ways, many of the traders stressed the importance of having the patience to wait for the right trading opportunity to present itself.

The importance of acting independent of the crowd was a frequently emphasized point.

All the top traders understand that losing is part of the game.

They all love what they are doing.