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1、Greats&Great Reads,George Soros&the Commodities Corp.Gang,Overview,George Soros&Stanley DruckenmillerThe Commodities Corp.GangMartin Schwartz:The Champion Trader Ed Seykota&the Trading TribeMichael MarcusBruce KovnerPaul Tudor Jones II,George Soros,Born:Aug.12,1930 in HungaryManager of the Quantum F
2、und Open Society InstituteMacro trader extraordinaireBritish Pound coup in 1992“It is not whether you are right or wrong thats important,but how much money you make when youre right and how much you lose when youre wrong”,Stanley Druckenmiller,Former right hand man of George Soros142 on the Forbes l
3、ist“It takes courage to be a pig.”“Just keep hitting homeruns&preserving capital”,The Alchemy of Finance,By George SorosMacroeconomic analysis bible,Market Wizards”,Also,the“New Market Wizards”and“Stock Market Wizards”By Jack SchwagerInterviews with Top Traders,Commodities Corp.,Founded in 1969 by A
4、mos Hostetter“They are free to trade any way they want,and to come and go as they please.”“Any theory is good as long as it makes money”“Never bucked a trend in prices”Never mind the cheese.let me out of the trap.,And these are their stories.,Marty Schwartz:The Champion Trader,$40,000 to$20M with ne
5、ver more than 3%drawdown.“Not to go against the moving averages,its self-destructive”“Know the amount you are willing to lose”“Dont break the rules”“The most important thing is money management,money management,money management.”“Let your gains run”,Pit Bull,Pit Bull:Lessons from Wall Streets Champi
6、on Day TraderBy Marty SchwartzWith actual trading tips and lessons!,Ed Seykota&the Trading Tribe,250 000%return in 16 years(70s 80s)79%annualized 60%after fees(90s)“Everybody gets what they want out of the market”Trend followerMath&P,The Trading Tribe,“To avoid whipsaw losses,stop trading”“It can be
7、 very expensive to try to convince the markets you are right.”The Toronto Tribe:Jason Russell But now,to a book,then his best student.,Trend Following,Trend Following:How Great Traders Make Millions in Up or Down MarketsBy Michael CovelEndorsed by Ed Seykota,How to become the owner of the Redsox!,Co
8、mmodities Corp.Michael Marcus,John Hopkins grad,at the top of his class.Student of Ed SeykotaFormerly the largest futures trader in the US“Cutting down the number of trades you make”“The best trades are the ones in which you have all 3 things going for you”FundamentalsTechnicalsMarket Tone,Bruce Kov
9、ner,106 on the Forbes listHarvard Poli Sci.Prof.“Place my stop.that is too far or too difficult to reach easily”“If you personalize your losses,you cant trade.,“The price for a market on any given day is the correct price,then I try to figure out what changes are occurring that will alter that price
10、.”,John Murphy,Former head of research at Merrill Lynch“Technical Analysis of the Financial Markets”“Intermarket Analysis”Bond to currency to commodities to stock.,Paul Tudor Jones,Left Comm.Corp.at 19805 straight years of 100%+Never had a down year.30%annually,“Dont be a hero.Dont have an ego.”“Don
11、t EVER average losers”“Decrease your trading volume when you are trading poorly”“Always thinking about losing money as opposed to making money.”,What the Wizards Read,Reminiscence of a Stock OperatorBy Edwin LefvreThe story of Jesse LivermoreFrank discussion of his investment methodsAuthor followed Livermore around for 3 yearsSo who is LivermoreGreatest investor in the early 20th century“The Great Bear of Wall Street”Netted$100 million at the day of the 1929 crash.,Summary,Dont predict the futureBut do react quicklyCut your lossesOnly make the good trades,Any Questions?,
