![]() ![]() ![]() "Before, admitting I was wrong was more upsetting than losing the money," he said. "I decided it was now time to be successful."Īt the time, Schwartz admittedly wasn't prosperous in a markets sense. "I always knew I wanted to work for myself, have no clients, and answer to no one," he said. To him, it was akin to a performance of sorts. ![]() Have an account? Log in.Īfter spending years as a security analyst, Schwartz had grown tired of what he calls "tap dances" - meetings with an array of portfolio managers strewn across different cities, giving his best stock pitch. This story is available exclusively to Business InsiderĪnd start reading now. "Although I had steadily earned good salaries, I was still almost broke because I consistently lost money in the market." "I knew I had to do something different," Schwartz said in an interview for Jack Schwager's famed " Market Wizards" series. Click here to sign up for our weekly newsletter Investing Insider.īefore Marty Schwartz, a legendary trader and author of " Pit Bull: Lessons from Wall Street's Champion Day Trader," became an irrefutable force in the stock market, he spent a decade losing money.Here are the 7-trading rules he shared with Schwager that helped him reach legendary status.According to Schwager, in nine US Trading Championships, Schwartz garnered nonannualized returns of 210%.Early on, Schwartz attributed his losses to an inflated ego in an interview for Jack Schwager's " Market Wizards" series.Marty Schwartz, a legendary trader and author of " Pit Bull: Lessons from Wall Street's Champion Day Trader," spent years losing money before he finally found his groove.Account icon An icon in the shape of a person's head and shoulders. ![]()
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