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Martin S. Schwartz (Buzzy, born March 23, 1945) is a Wall Street trader who made his fortune successfully trading stocks, futures and options. He received national attention when he won the U.S. Investing Championship in 1984.
- An object in motion will stay in motion. This principle means that once price starts trending, there is a good chance that the trend will continue. Amateur traders always try to call tops and bottoms and enter trades counter to the ongoing trend, although riding the existing trend would often yield much better results.
- The Magic T Indicator. Here we don’t want to explicitly talk about the indicator itself (just google Terry Laundry T Theory) , but about the underlying price principles that the indicator is built upon.
- Red light / Green light. Marty Schwartz uses a 10-period exponential moving average (Ema) to distinguish between bullish and bearish scenarios and as a filter.
- Don’t put stops below the low and above the high in a range. Moving averages and the 10 period EMA rule are vulnerable in range-bound markets when price usually does not respect the moving averages very well and continues to break above or below the moving average many times.
- "I try not to go against the moving averages; it is self-destructive." Marty Schwartz uses a 10-period exponential moving average (Ema) to distinguish between bullish and bearish scenarios and as a filter.
- "Before putting on a position always ask, 'Do I really want to have this position?" Interesting and very helpful advice. Just waiting a few moments, reflecting what you are about to do and whether it is really what you should be doing, can help you stay out of bad trades.
- "My biggest losses have always followed my largest profits." During a winning streak, many traders become too confident, believe that they suddenly can't fail anymore and that they have a gut feeling for what is going to happen.
- Your greatest enemy as a trader. "Most people think that they're playing against the market, but the market doesn't care. You're really playing against yourself.
May 23, 2020 · Martin (Marty) Schwartz, also known as Buzzy, is a well-known Wall Street trader who has amassed a substantial fortune trading futures, stocks and options. He is also an author of the day trader’s ‘must read’ book “Pit Bull: Lessons from Wall Street’s Champion Day Trader”.
Martin Schwartz is a champion stock day trader who has earned millions from the stock market.The Pit Bull book takes us through his journey on Wall Street.In...
- 9 min
- 57.6K
- Financial Wisdom
Martin S. Schwartz, known in the stock trade as Buzzy, is a formidable day trader who serves as example to virtually all aspiring stock traders. His first year as an independent stock trader netted him $600,000; he doubled this figure in the following year.
Learn from the legendary trader Martin Schwartz, who made a fortune with his quick in-and-out style. Watch his rare interview at Amherst College in 2013 and read his profile in Market Wizards.
