Do you know what the MMORPG is?
What about the Dark Side? Can you identify the major players?
Any idea as to why the United States Government can be considered a “Game Master” when it comes to the stock market?
Put it this way – if you aspire to invest in the stock market (quite possibly the most rigged casino on the planet) and find yourself having to Google your answers to the questions above, you better invest some money into J.E. Foltz’s book, Market Whipped: And Not by Choice.
First off, let give you some information about J.E. Foltz. She is an economic futurist and founder of Alsek Research, a business intelligence firm. According to the “About the Author” section of the book, Foltz also “maps social, technological, and economic forces to help clients define their best business strategies and practices.” In a nutshell, that is J.E. and it is quite clear that she knows what she is talking about when it comes to the stock market game.
Market Whipped itself is an intense dive into the complicated world of the stock market. This is not a book about investing or your typical book on the market in general. If you want to learn the real truth about the interconnected world consisting of human traders, super computers, high tech firms, and governments, Foltz gives it to you on a silver platter.
For me, the book was more than just something interesting to read at night or on a lazy Sunday afternoon. It was a wakeup call. What I enjoyed most about it was the way Foltz did not hold back anything or pull punches. She gives it to you straight and tells you what you need to hear – especially if you actually plan on investing your hard-earned money into this slot machine called the stock market. Market Whipped is not for the faint of heart. Nevertheless, it is a must read.
Not convinced? Well, consider what Foltz talks about in chapter 5, “Day Trading Junkies.” Maybe you considered day trading as a part-time gig or know somebody else who has. Either way, you know about the appeal of the profession and the endless scams out there surrounding it. But, how much are you truly aware of?
On page 58, under a section titled “Meet Reality,” Foltz lays it all on the table:
Don’t you think that if being successful at day trading was as easy as buying a prepackaged setup, everyone would sign on? Wouldn’t you love to walk into work one day, look your schmuck of a boss in his face, and say, “I quit. I’m going to go day trade.”
Obviously, the answer to that second question would be a big fat – YES – at least for me. But, we soon find out why it might not be the best of plans.
If you ever found yourself contemplating that move, ask yourself the following: If the well-known theories and technical analysis had a higher probability than the average S&P index, wouldn’t they be proven as a sure bet by now? Reports estimate as many as 90% of the day traders lose money even during up markets.
OK, so maybe we’re all still going to work tomorrow. However, at least somebody is being honest with you for once.
Do yourself a favor. Read Foltz’s Market Whipped and learn from an industry expert. If you still want to invest in the market, you will be better off than most. On top of that, even if you can’t retire tomorrow, you could put yourself in a better position to win more than you lose at the stock market casino and start your golden years a little earlier than your peers.