The New Market Wizards (Book Review)

the new market wizards book review

Read this book review of The New Market Wizards by Jack D. Schwager…

New Market Wizards by Jack D. Schwager is a series of “Conversations with America’s top Traders.”

New Market Wizards is a perfect follow-up to the original Market Wizards book Schwager published a few years earlier. In the same style as the original, The New Market Wizards profiles America’s most successful traders. But it gets better…

The New Market Wizards examines an extremely wide range of traders. You can read interviews with technical speculators, options arbitrageurs and fundamental strategists. The book also features some interesting interviews on trading psychology that offer value perspective on what it takes to become one of the world’s top traders. So…

Read this short book review to learn if The New Market Wizards is the right book for you.

Why The New Market Wizards is a Must-Read:

The New Market Wizards is a must read if you’re thinking about trading your own stock portfolio. That’s because by reading The New Market Wizards it’s like you are sitting down with the best traders in the world to pick their brains. What’s not to love about that?

Just like the first Market Wizards Book, The New Market Wizards does a great job extracting actionable and important lessons from some of the best traders in the world. The New Market Wizards provides access to a diverse and incredibly successful cadre of traders that you would be hard-pressed not to learn from.  And surprisingly…

Even though The New Market Wizards book interviews traders from all different backgrounds who use a variety of approaches to the stock market, there is a huge amount of overlap in their thought processes and methods. I was taken aback at how different traders kept saying the same things, especially the importance of a trading plan that works with your personality and a boatload of emotional discipline.

It’s pretty reassuring to see all this agreement because it reminds you that trading can be learned (and it’s not just something you’re born with). Speaking of learning how to become a great trader… here is…

The Best Part of The New Market Wizards:

New Market Wizards is an incredibly inspirational book for any aspiring trader. The interviews with these stock market legends are absolutely eye-opening. But I think the best part of The New Market Wizards is the ending. That’s because…

Jack Schwager does a fantastic job in the “Market Wiz(ar)dom” chapter to summarize the actionable advice from all of the trading experts he interviewed. This section of the book contains 42 key points that America’s top traders keep in mind to extract profit from the market. It’s as close to a trading-success-roadmap as you can get.

This highly-focused emphasis on actionable information is amazingly valuable. It is the kind of chapter you can read again and again (and learn something new each time). The lessons in The New Market Wizards can definitely improve your trading profits – and this final chapter does a great job to speed that process up. Not bad, eh?

But before we get too excited, let me just remind you…

The New Market Wizards Is Not A Silver Bullet Solution:

One of the biggest lessons from The New Market Wizards is that you have to put in some groundwork before you become a great trader. A lot of the advice in The New Market Wizards will serve you best if you have already tried your hand at trading.

To be sure, The New Market Wizards is a very exciting read. And it’s thrilling to learn about the wins and losses of the best traders and speculators in markets around the world. But you’ll also get more out of the book if you have already tried trading a little bit yourself and are running into some challenges. So let’s wrap this up, okay?

The New Market Wizards – The Final Word:

If you’re willing to put in work (and not just look for a magic trading system) then The New Market Wizards is a book that will serve you extremely well. You’ll be inspired and excited reading about the trading lessons from Wall Street’s greatest traders. And you’ll also learn an incredibly amount form the actionable lessons contained in the back of the book. For these reasons I recommend you buy The New Market Wizards on Amazon. It’s a great book and you’re sure to benefit from this investment in yourself.

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