If I wanted to become a tramp, I would seek information and advice from the most successful tramp I could find. If I wanted to become a failure, I would seek advice from men who had never succeeded. If I wanted to succeed in all things, I would look around me for those who are succeeding and do as they have done. — Joseph Marshall Wade In his interviews with the market wizards, Jack Schwager often asks what they would do differently if they were to start over again. Here is a sample of answers, together with some advice for novices: Tom Basso: I started out by worrying about the system I was going to use to trade. The second factor I worked on was risk management and volatility control. The third area I focused on was the psychology of trading. If I had to do it over again, I would reverse the process completely. I think investment psychology is by far the most important element, followed by risk control, with the least important consideration being the question of where you buy and...
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