Pro Talks: 'Market Wiz' Schwager on winning trading

In an exclusive interview with CNBC's Dominic Chu, Jack Schwager, author of the best-selling "Market Wizard" books, revealed the one thing all winning traders do and one mistake they make too often, and identifies the best investor he knows.

Schwager, who has studied prominent hedge fund managers like Ray Dalio, Paul Tudor Jones and Bruce Kovner, also gave just 10 words of advice he believes will make you a better trader, even in today's complicated investing environment.

Apart from his views on trading psychology, Schwager discussed his website, FundSeeder, which is designed for hedge funds to find undiscovered traders.