The new Market Wizards book is now available in all formats. I'm not saying it will change your life for the better, but it might! Pick up a copy: lnk.to/marketwizardsnextgene…

People who have never failed before often don't know what to do when they get knocked down. - Kelvin Chiu @KC_SilverCape 6/n lnk.to/marketwizardsnextgene…

Got mine this afternoon 😀

Pretty awesome to see lots of people sharing pictures of a book I spent almost 2 years writing. Thanks to all who share the images, I appreciate it.

Weekend prep ☕️

Finally @gfc4

Just finished The Market Wizards: The Next Generation. Incredible read. Here are the top lessons that stuck with me. -Take the first small loss. The first loss is almost always the cheapest one. The longer you wait, the more it costs you, both in money and in the mental energy spent hoping it turns around. -Any stock can do anything. No matter how strong your thesis is, the market does not care. A stock can defy logic, fundamentals, and every chart pattern you know. Respect that uncertainty and never bet like you have it figured out. -Being early is being wrong. You can have the right idea and still lose if your timing is off. The market can stay irrational longer than your account can stay solvent, so wait for confirmation instead of trying to predict the turn. -Stop out quickly. When the trade goes against your plan, exit fast. Hesitation turns a small, manageable loss into a damaging one. The stop is there to protect you, so honor it. -Try to get green as fast as possible to prove you are in the right trade. -Focus on defense more than offense. Protecting your capital matters more than chasing big wins. You cannot make money if you blow up your account, so survival comes first and the gains follow. -Don’t hope, just get out. Hope is not a strategy. The moment you find yourself praying a trade comes back, that is your signal to close it. Hope keeps you in losers far too long. -Size based on how attractive the trade is. Not every setup deserves the same size. Push hard when the odds are clearly in your favor and stay small or pass when they are not. Your best ideas should carry the most weight. -Scale back once you have made it. A common pattern among the Market Wizards: after achieving real success, many traders deliberately pull back the time and energy they pour into the markets so they can live more balanced lives. The goal was never to trade forever. It was to win and then enjoy it. I was especially mesmerized by Simon Russo’s story. @jackschwager @gfc4

After reading Market Wizards: New Generation, my takeaways: I had the chance to meet a few of the traders featured - and even before they made the fortunes described in the book. That made it all the more interesting to read, even though I already knew how their stories turned out. It reads particularly well when you yourself were involved in practically most of the market situations described - I enjoy analyzing what I could have done better and how others approached the process of building and exiting positions. I particularly enjoyed the chapters featuring: @SimonRusso__ - worth reading his blog as well. Truly interesting story of a trading journey - and his general approach to life is equally compelling. @TheShortBear - achieved so much at such a young age, and yet the hunger is still clearly there. 😊 And surprisingly, @TheOneLanceB - though his transition into course-selling and the new writing style that came with it had honestly put me off him a bit, despite his successes. But I really enyojed reading his chapter @Qullamaggie - great guy, I remember him from the T4AC conference back in 2016. His perspective on losses — that they are and always will be part of the game — and the reminder to appreciate where you are now versus 5 or 10 years ago really resonated. Thanks to him I moved to swing trading @Tradestl - met him 1st time on T4AC conference. His trading approach is also very similar to mine, which is probably why it was such a good read. With him I'm left wanting more, the chapter felt too short. One thing connects a large portion of them: 2020/2021 was a life-changer. But I suppose that's true for a huge number of traders I know - in person or online. The difference is that only a certain percentage of them carried that momentum forward in the years that followed. I think there could easily be a few dozen more well-known Twitter/X traders that would fit right into this book. I enjoy this interview format - it always motivates me and gives me a fresh push. Despite being content with my own journey, personal ambition keeps driving me forward. At the same time, the book is a reminder of what hard work and dedication can bring in an industry where the hours you put in can just as easily result in frustration and losses. And equally - the importance of putting in the work and seizing opportunities as they arise, rather than complaining that the good old days are gone. 😉

I considered the $3,000 I lost as trading tuition. I knew I would eventually figure it out, and it would all pay off. - Phil Goedeker @Tradestl 5/n lnk.to/marketwizardsnextgene…

trading to make quick money is a terrible idea. - Lukas Frohlich @TheShortBear 4/n lnk.to/marketwizardsnextgene…

🎙️ New Episode! @nieto sits down with @jackschwager and @gfc4 to discuss their latest book, Market Wizards: The Next Generation, key trading principles, and lessons they uncovered along the way. 🎥 The Trader's Journey drops tomorrow at 8 AM EST!

Watching people develop plans to day trade the $SPCX IPO reminds me that I am definitely not a day trader and that, as traders, we must stick to our lanes.

It's been a great publication week for Market Wizards: The Next Generation by Jack D. Schwager @jackschwager and George F. Coyle @gfc4 📚️ Don't forget to leave a review if you've already read the book, or buy your copy now to learn how these exceptional traders achieved their extraordinary performance results 📚️lnk.to/marketwizardsnextgene…

3/1: "four to five weeks" 3/9: "very soon" 3/16: "won't be long" 3/23: "very good and productive conversations" 3/26: talks to end the war are “going very well" 3/29: "I think we'll make a deal with them, pretty sure" 4/1: “very shortly” 4/6: "They’ve made a proposal, and it’s a significant proposal." 4/8: ""A big day for World Peace!" 5/18: "we’ve had very big discussions with Iran" 5/23: "will be announced shortly." 6/1: "rapid pace" 6/11: "next few days"

Seeing a lot of predictions on the SpaceX IPO which brings to mind a quote and a picture: "Never, ever forget that no one can predict the future.” - Larry Hite

Hiking in your 40s is a great way to meet new people. Today I met two paramedics, three nurses, a cardiologist and nearly met Jesus.

“Bad trades don’t kill people; bad sizing kills people” @TheOneLanceB #MarketWizards

Reminiscences of a Stock Operator quote of the day: I have been flat broke several times, but my loss has never been a total loss. Otherwise, I wouldn't be here now. I always knew I would have another chance and that I would not make the same mistake a second time. I believed in myself.

Truth! Although I think the idea applies to pretty much every form of investing or trading, not just Trend Following.

The main reason I lost was greed. - Simon Russo @simonrusso__ 3/n lnk.to/marketwizardsnextgene…

Market Wizards at sea!