preface
Acknowledgements
Preface
My story

Part 1: Wizards of the Futures and Currency Markets
Unraveling the mystery of the gift
What is the interbank money market?

Michael Marcus
Pests never come twice

Bruce Kovner
World-class trader

Richard Dennis
Legend retires

Paul Tudor Jones
Aggressive trading techniques

Gary Bielfeldt
Treasury bonds are also traded in Peoria.

Ed Seykota
Everyone gets what they want

Larry Hite
Keep an eye on the risks


Part 2: Wizards of the Stock Market

Michael Steinhardt
The concept of different perspectives

William O'Neil
The Art of Stock Picking

David Ryan
Stock investment is like a treasure hunt

Marty Schwartz
Champion Trader


Part 3: Wizards Participating in Various Markets

James B.
Rogers Jr. (James B.
Rogers Jr.)
Buy value, sell hysteria

Mark Weinstein
High winning rate trader


Part 4: Wizards in the Exchange

Brian Gelber
Broker turned trader

Tom Baldwin
Fearless traders on the exchange

Tony Saliba
The Victory of “One Contract”


Part 5: The Psychology of Trading

Ban K.
Dr. Taff
Van K.
Tharp)
Psychology of Trading

Personal trading experience
Later Dreams and Trading
Conclusion
Appendix 1 Program Trading and Portfolio Insurance
Appendix 2: Understanding the Basics of Options

1.
The complete translation of Market Wizards!

“I can’t understand why this book hasn’t been translated into Korean yet!” These are the words of several prominent Korean experts ahead of the domestic publication of 『Market Wizards』.
This is because it has already become a modern investment classic on Wall Street.
Author Jack Schwager compiled a list of Wall Street's leading figures through first-hand interviews in "Market Wizards," which received the highest praise among investment books and became a global bestseller.
How do most of the world's most successful traders manage to make millions of dollars a year—sometimes in just a few hours? Are they priceless masters of magic, or simply lucky winners of a random lottery draw in a market where only a select few are allowed to achieve such enormous wealth? What is the secret to their undisclosed success?
After interviewing the world's top traders across various markets, market expert Jack Schwager concluded that while there are many approaches to successful trading, no single method can be generalized to all.
Even in the techniques of the world's top traders we interviewed.

Some were technical analysts, monitoring market price movements.
The rest were value investors who tried to predict future value based on what they knew about a market, industry, or specific company.
Some acted primarily on individual ingenuity and intuition, while others relied on fully automated systems.
What's even more interesting is that the more sophisticated the trading technique, the more likely it is to be accompanied by a unique and valid mindset—a mindset that often surfaces during interviews.
The secret seems to have more to do with personal attitude than differences in approach to investing.
So what are the mental aptitudes, emotional responses, and personal intangibles that make the world's best traders so uncannily competent in the markets? What allows them to work their magic while so many others fall by the wayside?
MARKER WIZARD takes readers on a journey into the minds of great traders.
This book explains the various factors that led to their success, covers the various approaches they applied to different markets, the trading rules they each adhere to, and offers personal advice for other traders.
Readers should understand that these are things they need to know to become a successful trader and should hear about them in Market Wizard.


2.
All investment paths lead to "market wizards."

"Vivid experiences and amazing trading techniques from market wizards."

“It is very difficult to devise a way to trade.
Moreover, it takes experience to believe what the method you devise tells you.
But the hardest part is making money with analytics.
If you don't believe me, try it.
The people in this book have all of these.
A technique, a belief in one's own method, and the perseverance to act firmly and consistently despite confusion and stress.
These are the heroes of Wall Street, and Jack Schwager's "Market Wizards" vividly portrays their characteristics." -Robert Practor

The trading techniques employed by the 17 market wizards featured in this book, including Jim Rogers, Ed Seykota, Richard Dennis, William O'Neill, Paul Tudor Jones, and Tony Saliba, are diverse.
This book is a true textbook for market participants, as it directly interviews legendary investors who shook up Wall Street and shares their vivid experiences, secrets, and market perspectives on how they consistently achieved high returns in the market.
However, while it is very important to analyze and study trading techniques and the market through interviews, each person has their own unique personality and trading techniques that suit them, and they have their own mindset and perspective on how to understand and respond to the market.
As an investor, it would be difficult to find a more valuable advisor.


3.
You too can be a market wizard!

While there may be no common rules shared by all "market wizards," each individual can achieve high returns by employing techniques based on a mindset, attitude, and perspective that best suits their individuality when entering the market.
You too can become a market wizard! More important than investment or trading skills is your mindset and perspective when approaching investing and trading.
Also, there is a trading attitude that all the 'market wizards' who participate in various markets with various trading techniques all have the same.
It is none other than patience, self-denial, and loss limitation.
The book's greatest appeal lies in the way you delve into the mindset, trading attitudes, and perspectives of the world's top traders. This will lay the foundation for you to think and trade with the same mindset and attitude as the world's top traders.
Now you too can become a market wizard like Jim Rogers, Ed Seykota, Richard Dennis, William O'Neill, Paul Tudor Jones, and Tony Saliba!

4.
Author Jack Schwager's description of this book - Want to hear some surprising stories?

After going through the bitter experience of bankruptcy a few times in the beginning, there is a trader who eventually turned a $30,000 account into $80 million.
There is a fund manager who has achieved the remarkable feat of achieving three-digit returns for five consecutive years, something many people thought was impossible.
From a small town in America, starting with little capital, he became one of the world's largest bond traders.
There's a former securities analyst who has averaged 25 percent monthly returns (over 1,400 percent annually) over the past seven years trading stock index futures.
There's a trader with an MIT degree in electrical engineering who achieved an incredible 250,000 percent return in just 16 years using computer trading techniques.

The above stories are just a few samples of the interviews featured in this book.
All of the interviewees featured in this book are traders who have achieved remarkable success with their own unique techniques.
What sets them apart from the average person? Most people believe that making money in the financial markets involves knowing some secret.
However, the common denominator among the traders I interviewed was not their trading techniques, but their mindset toward trading.
Some of them used only fundamental analysis, while others insisted on technical analysis only.
Some traders used both fundamental and technical analysis.
Some of these trades were made within a range of hours or minutes, while others typically built their positions with the intention of holding them for months or even years.
Although their trading techniques varied widely, the interviews that follow will reveal important commonalities in their trading attitudes and principles.
Trading in the financial markets offers some of the most cutting-edge opportunities within our economic system.
It is one of the few ways in which an individual can start with relatively little money and actually become a millionaire.
Of course, only a small number of people (those interviewed in this book) will succeed in such a feat, but at least the opportunity exists.
I don't expect every reader of this book to become a top trader.
I know full well that the world doesn't work that way.
However, I believe the insightful interviews presented here will improve the personal trading performance of most serious and open-minded readers.
Perhaps it will help a select few become the best traders.