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Marty Schwartz $40,000 to $20,000,000 Trading

It is extremely important to read. My book shelf is not filled with entry techniques rather more psychology issues. Market Wizards book by Jack Schwager is both great for encouraging however can lead inexperienced traders to think it is easy. I can promise you…it is never easy…

With that said…was just flipping through Market Wizards for the zillion time. Read about Marty Schwartz pitbull trader. For years he stumbled until he found a plan that matched his personality.

This quote from the book really sums it all up..

I was broke in the 1970s, and I never wanted to be broke again. My philosophy was that if you
make money every month, nothing bad is going to happen to you. So, you won’t be the richest
person. You’ll never be the richest person anyway. What difference does it make? I’m proud of my
futures trading, because I took $40,000 and ran it up to about $20 million with never more than a 3
percent drawdown.

Successful traders were not born that way. They struggled. They fought. They were persistent. They have courage. They do not jump from system to system. They do not try to avoid losses. They know they can not avoid loses or draw downs.

What I gleaned from this short piece in Market Wizards…is very clear…
If Marty Schwartz can achieve this…so can you and I with hard work and the proper mindset & trading plan..

Past Performance is not indicative of future performance

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