Before we start reviewing the book, let me stress one key point, this book is not actually about trading! there are no strategies covered, no tools or indicators or how they work and your probably thinking:
Why should You Read This Book?
The answer is for two reasons in my view:
Firstly, it's just a great novel, as you trace the authors journey from his roots in Texas, to Afghanistan and back to a high school reunion in Oregon. He has triumphs and tragedies along the way and it's a story you will want to stay with until the end. It's honest, exciting and makes you ask questions about your life and faith. The book also, really creates the commodity industry and the excitement around it in the seventies and eighties. This was when I first started trading and in those days, trading was personal. People saw each other and communicated with each other unlike today, when its all done through computers, so on a personal note - I loved this part of the book.
Secondly, it shows the real world of trading – no easy money following trading signals and robots - but a highly personal journey of what it really takes to achieve success. Mark Ritchie was successful but he's humble, he made mistakes and his journey, shows trading Forex or any other financial instrument, as one which is a battle within ourselves to achieve success in the markets.
Finally, it helps to reconcile a faith in god with making money in the markets.
There are some great quotes in the book and the one below is one from the seventies, about the Hunt brothers and the sliver bubble:
“It is a world of make believe, where money grows on trees, dreams become reality, a Disneyland for adults. Almost everyone I meet wants to know how they can get into the business and make a fortune. When I discourage them from doing so, they only become more convinced, thinking that I am just trying to preserve a greater portion of the pot of gold for myself. Little do they know that the gold is not held by a few as a result of their ability to keep others away. It is held by a few because the others find consistent ways to lose.”
(Mark Ritchie)
Most traders, will fail to understand what the above means – trading is not about easy money or secrets, it's you and emotional control.
The book concludes with the following quote:
"The story would tell how twenty years had shown me that Christianity was true, that it worked for me, and could work for anyone else willing to try it. Thats it” (Mark Ritchie)
I find it quiet hard, to describe why, this book is so good for Forex traders (or any person trading for that matter) and why its such a good read. It's hard to convey, why it touched me on a spiritual level and on a human level - so it's best to conclude with some comments from others:
Critical Acclaim for God In The Pits
“One of the five books that should be in the business person’s essential library.” (Donald J. Trump)
“Successful traders are few and far between, and fewer still write autobiographies. But the public clamor for insights into the minds of successful traders has placed books such as Reminiscences of a Stock Operator among the bestsellers of all time. God in the Pits deserves to join it…. A dynamic and well written book— a truth page-turner.” (Barron’s)
“God in the Pits is a compelling story of Mark Ritchie’s quest for meaning and truth in the Commodity pits and the pits of life. I read about 30 books a year. None has gripped me more…. With his trading experience as a backdrop, he unveils a path to truth about his physical and spiritual world that has real meaning. Must read for seekers of value, truth, and reality in the biggest sense.” (Merrill J. Oster Futures Magazine)
“One of the five books that should be in the business person’s essential library.” (Working Woman)
Final Words - Buy it
If you are looking for tools and strategies to beat the market – this book is simply not for you. If on the other hand, you are looking for a great story and a personal journey to salvation which will inspire you to get more from life - read this book.
