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

An episode of [Words of Rizdom - Trading Podcast](https://invisiblenetwork.ai/podcast/1780241706), 11 Jul 2024, 1 h 54 min.

Audio: https://traffic.megaphone.fm/APO6851496748.mp3

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/pocketsofrizdom Free 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_Futures Sign 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/wordsofrizdom Riz’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 - Introduction 00:04:50 - Discovering the World of Commodities 00:09:53 - Researching Market Statistics 00:19:34 - Finding Success in Trading 00:25:04 - Finding Unknown Traders 00:30:16 - The Role of Technical Analysis in Risk Management 00:35:19 - The Transition to Technical Analysis 00:40:12 - Adjusting the interview style 00:45:18 - The Importance of Having an Edge in Trading 00:50:05 - The Exceptional Trader 00:54:43 - Dynamic Risk in Trading 00:59:35 - Recognising Emotional Response in Trading 01:04:39 - Trading Psychology and Managing Emotions 01:09:29 - The Importance of Clarity and Objectivity in Trading 01:14:27 - Trading with Caution 01:19:25 - Managing Large Sums of Money 01:24:14 - Adaptability in Trading Styles 01:29:35 - The Rise and Fall of NFTs and Cryptocurrency 01:34:26 - The Insanity of Stock Trading 01:38:55 - The Importance of Finding an Approach That Works for You 01:43:58 - The Impact of Changes in the Market 01:48:52 - The Success and Impact of Market Wizards 01:51:05 - Final Advice and Outro __________________________________________ DISCLAIMER: I am not a financial advisor. The videos on my channel are for educational purposes…

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