Professional trader Martin Schwartz, champion of the U.S. Trading Championship
Martin s. Schwartz was a stock and futures traders on Wall Street, us. He is best known for extensively when it won the U.S. Trading Championship in 1984. Schwartz was a trader daily, which open and close trading positions on the same day. In addition to trading with private funds, he also manages the funds a number of clients. In trading, Schwartz is more dependent on technical analysis compared to the fundamentals. In addition, he also wrote books on trading with the title ' Pit Bull: Lessons from a Wall Street's Champion Day Trader ', which meceritakan jatuh-bangunnya experience as a stock trader on Wall Street.
Martin Schwartz who is also a fan of this horse earned his MBA from Columbia University in the 1970s before working as a financial analyst at e. f. Hutton. While working he was also trading with private funds. Although his salary is high enough, but it is often experienced economic difficulties due to the always consistently loss in the stock market. "I know this can not be tolerated. I know I must be doing something completely different. I have to work for yourself and concentrate fully for it. I have to decide if you want to succeed as a trader in the stock market. "he said in an interview in the book ' Market Wizards: Interviews With Top Traders. '
After successfully raising funds of USD 100.000, he resigned from the company and try to seek their fortunes in the American Stock Exchange as an independent trader. This time he improved the way of trading with more attention to technical analysis and market sentiment. Though Schwartz is known as a daily or short term trader, but he very carefully and consider with Cook before opening a position. "A friend teach, when there is good news, but the stock price moved down means markets were very weak. Otherwise when the bad news but the price is rising even as it means market sentiment were high. "said Martin Schwartz who once served in the U.S. Marine Corps it.
Within a year the Fund evolved into USD 600.000, and the following year he managed to menggandakannya to reach USD 1.2 million. Because it is so fond of short-term trading, Schwartz participated in U.S. Trading Championships in 1984 organized by Stanford University where each contestant started with an initial Fund of USD 400,000. Schwartz became champion after successfully printing profits an average of 210 percent in four months.
What's his advice for traders? "Learn to accept mistakes, and losses. Don't let losses grew, quickly did cut loss. And also please do not raise the position size to two or three times before your capital became doubled two or three times. "said Martin Schwartz is now trading at his private home in Florida that.