Market Wizards: How to Become a Successful Trader with Jack Schwager | WOR Podcast - EP.121

If you enjoy these conversations, please follow the podcast and leave a rating on Spotify. It helps us reach more traders and continue bringing you the best guests in the industry.____________________________________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. __________________________________________Free Telegram Community! 👉🏽 https://t.me/pocketsofrizdomFree Trading Plan 👇https://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 ⬇️ https://www.tradezella.com/?via=riz⬇️Use Code “WOR” for 20% off your yearly subscription ⬇️ https://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. 👉 https://app.alphacapitalgroup.uk/signup/RIZ __________________________________________Subscribe To Alpha Futures Youtube Channel:https://youtube.com/@Alpha_FuturesSign Up For Alpha Futures Pre Launch To Be Entered Into A Massive Giveaway:https://join.alpha-futures.com/register__________________________________________Guest's Socials: https://x.com/jackschwager__________________________________________ Riz’s Instagram: https://instagram.com/wordsofrizdomRiz’s Twitter: https://x.com/wordsofrizdom __________________________________________ I hope you all enjoy this episode, let me know who you'd like to see on the podcast. 🙏🏽SUBSCRIBE BELOW! Turn your notification bell on so you can be notified when videos like this get dropped. __________________________________________ Timestamps:00:00:00 - Introduction00:04:50 - Discovering the World of Commodities00:09:53 - Researching Market Statistics00:19:34 - Finding Success in Trading00:25:04 - Finding Unknown Traders00:30:16 - The Role of Technical Analysis in Risk Management00:35:19 - The Transition to Technical Analysis00:40:12 - Adjusting the interview style 00:45:18 - The Importance of Having an Edge in Trading00:50:05 - The Exceptional Trader00:54:43 - Dynamic Risk in Trading00:59:35 - Recognising Emotional Response in Trading01:04:39 - Trading Psychology and Managing Emotions01:09:29 - The Importance of Clarity and Objectivity in Trading01:14:27 - Trading with Caution01:19:25 - Managing Large Sums of Money01:24:14 - Adaptability in Trading Styles01:29:35 - The Rise and Fall of NFTs and Cryptocurrency01:34:26 - The Insanity of Stock Trading01:38:55 - The Importance of Finding an Approach That Works for You01:43:58 - The Impact of Changes in the Market01:48:52 - The Success and Impact of Market Wizards01:51:05 - Final Advice and Outro__________________________________________ DISCLAIMER: I am not a financial advisor. The videos on my channel are for educational purposes only.