Taps into the minds of today’s trading superstars to reveal the secrets of their astonishing success
In these absorbing interviews with star performers in the financial markets, Schwager humanizes the mechanics and psychology behind the trading world in such sophisticated instruments as currencies, stock options, commodity futures, and mutual-fund accounts by individuals, investment firms and group-trading computerized “money machines.” One trader focuses on market response to news events, another calculates mathematical probabilities–one even cocks an ear to the noise level on the exchange floor. All rank assiduous research, self-confidence, a specific plan and the courage to cut losses among essentials to success. Few consider their work gambling, but Schwager entertainingly argues that a successful trader needs many of the qualities of a good poker player. Though the subject matter is esoteric, there is much here to attract the general reader, and Schwager appends a “primer” of technical basics.
Mark Andrew Ritchie grew up in the poverty and strangeness of Afghanistan, the deep south of Texas, and an Oregon-coast logging town. After a career in the financial pits of the Chicago Board of Trade, he wrote two books to rave reviews, God in the Pits (Macmillan, 1989) and Spirit of the Rainforest, the highly controversial story of the brutal Yanomamo Indians.
Armed with an M-Div (TIU 1980), four visits to Israel over three decades, research under archeologist Dr. James Fleming (Biblical Resources), he walked the path to Emmaus, rode camels through the desert, and retraced Mary, Peter, and John’s Easter morning run up and down the Kidron valley. His personal highlight–overnight ”lodging” in a Bedouin tent with his wife and kids in the Beersheva desert. He is the father of five and lives in Illinois.