Greats & Great Reads

George Soros & the Commodities Corp. Gang


Soros & Stanley Druckenmiller  The Commodities Corp. Gang 

Martin Schwartz: The Champion Trader Ed Seykota & the Trading Tribe Michael Marcus Bruce Kovner Paul Tudor Jones II

12. but how much money you make when you're right and how much you lose when you're wrong´ .George Soros       Born: Aug. 1930 in Hungary Manager of the Quantum Fund Open Society Institute Macro trader extraordinaire British Pound coup in 1992 ³It is not whether you are right or wrong that's important.

´ ³Just keep hitting homeruns & preserving capital´ .Stanley Druckenmiller     Former right hand man of George Soros 142 on the Forbes list ³It takes courage to be a pig.

The Alchemy of Finance   By George Soros Macroeconomic analysis bible .

Market Wizards´    Also. the ³New Market Wizards´ and ³Stock Market Wizards´ By Jack Schwager Interviews with Top Traders .

and to come and go as they please.Commodities Corp.´  ³Any theory is good as long as it makes money´  ³Never bucked a trend in prices´  "Never mind the cheese«.  Founded in 1969 by Amos Hostetter  ³They are free to trade any way they want.let me out of the trap." .

.And these are their stories«. .

money management. 000 to $20M with never more than 3% drawdown.Marty Schwartz: The Champion Trader $40. it¶s self-destructive´ self ³Know the amount you are willing to lose´  ³Don¶t break the rules´ ³The most important thing is money management.´  ³Let your gains run´  . money management.  ³Not to go against the moving averages.

Pit Bull    Pit Bull: Lessons from Wall Street¶s Champion Day Trader By Marty Schwartz With actual trading tips and lessons~!! .

Ed Seykota & the Trading Tribe       250 000% return in 16 years (µ70s ~ µ80s) 79% annualized ± 60% after fees (µ90s) ³Everybody gets what they want out of the market´ Trend follower Math & Psychology .

´  The Toronto Tribe: Jason Russell  But now.seykota. to a  ³To avoid whipsaw losses. stop trading´  ³It can be very expensive to try to convince the markets you are right. . then his best student«.The Trading Tribe  www.

Trend Following    Trend Following: How Great Traders Make Millions in Up or Down Markets By Michael Covel Endorsed by Ed Seykota  How to become the owner of the Redsox~!! .

Michael Marcus      John Hopkins grad.Commodities Corp. at the top of his class. Student of Ed Seykota Formerly the largest futures trader in the US ³Cutting down the number of trades you make´ ³The best trades are the ones in which you have all 3 things going for you´    Fundamentals Technicals Market Tone .

. Prof.that is too far or too difficult to reach easily´ ³If you personalize your losses.Bruce Kovner     106 on the Forbes list Harvard Poli Sci.´  . ³The price for a market on any given day is the correct price. ³Place my stop. you can¶t trade. then I try to figure out what changes are occurring that will alter that price.

John Murphy    Former head of research at Merrill Lynch ³Technical Analysis of the Financial Markets´ ³Intermarket Analysis´  Bond to currency to commodities to stock. .

Paul Tudor Jones ³Don¶t be a hero. at 1980  5 straight years of 100%+  Never had a down year .  30% annually  . Corp.´  Left Comm.´  ³Don¶t EVER average losers´  ³Decrease your trading volume when you are trading poorly´  ³Always thinking about losing money as opposed to making money. Don¶t have an ego.

What the Wizards Read«    Reminiscence of a Stock Operator By Edwin Lefvre The story of Jesse Livermore   Frank discussion of his investment methods Author followed Livermore around for 3 years Greatest investor in the early 20th century ³The Great Bear of Wall Street´ Netted $100 million at the day of the 1929 crash.  So who is Livermore«    .

Summary  Don¶t predict the future  But do react quickly  Cut your losses  Only make the good trades .

Any Questions ~ ??? .

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