INTERVIEW Trading with the Conscious and Subconscious Minds: New Market Wizard Robert Krausz by Thom Hartle
Robert Krausz, who was featured in Jack Schwager's The New Market Wizards, is many things: He is a trader, a student of the market, and a practicing hypnotherapist as well as a special investment advisor to the European Bank for Reconstruction and Development. With that background in mind, STOCKS & COMMODITIES Editor Thom Hartle spoke with Krausz on June 20, 1995, via a telephone interview about the steps to successful trading, the role of the subconscious for traders, and other topics.
Q: How did you get interested in trading the markets?
A: Back in 1979, when the gold market was in its major bull run and headed toward the $800 mark, one of my friends was making a lot of money trading. He told me one day that I was silly to be working so hard in my own business, that I should look into trading, as this was the easy way to make money. I was intrigued, so I listened and I went to his broker, opened an account and lo and behold, of course, I made money.
Q: You were off and running, just like that?!
A: No, not really. The market went up and then it decided that it wasn't going to go up any farther, but I still kept on buying. That was a big mistake, because I gave back all of my profits, plus more. It was a very painful experience. So I closed out my account. Fortunately, I still had a good business and I didn't have to change my lifestyle, but it was still quite a substantial loss.