Reviews (3)

Very poorly written
I found Arditti's writing to be simply attrocious. What the marketplace needs is a clear, concise guide to instrument structure and valuation, and Mr. Arditti writes in circles. As an example, his chapter on option pricing refers to "using the methods used previously in this chapter" without referring to how to apply these to the method just introduced. The method just introduced was explained using numbers that were presumably fabricated, but lord only knows, because the author can't be bothered to specify how his example was structured.

In trying to explain things simply, the author fails to explain anything clearly. "Derivatives" is an extreme disappointment. As a reference, this book may have some use, but if you're looking to learn something from it, stear clear.

He knows how to design derivatives and make them work
I am completely satisfied with this book. He knows how to design derivatives and make them work. This book does a remarkable job of explaining the theory and practice of derivative securities.

EXCELLENT AND IN PATCHES OUTSTANDING
This book is an excellent resource for beginning and intermediate level fund managers who want to understand the derivatives to be able to use them in risk hedging and income maximization.

The book is excellently organized in four sections and each section is self sufficient. Each of the sections begin with basics, illustrates the concepts with example, introduces the mathematics of pricing and methodology of hedginag of risks

Every section has also a nice subsection on terminology and definitions.

The book is an excellent attempt to explain a highly technical and complex subject.The section on Interest Rate swaps is outstanding. A must read for all corporate money managers and a must addition to all financial libraries. ... Read more

Amazon.com

The emergence of the Internet along with the increased volatility of the financial markets have combined to fuel an explosive growth in the interest and practice of day trading. So it should surprise no one that there's a parallel explosion in the number of books about day trading. Jake Bernstein, who has been involved in the futures industry as an author and trader for some 30 years, adds The Compleat Day Trader to this cadre. It offers a solid introduction to day trading and evaluates various techniques and strategies, including moving averages, intraday application of stochastics, support and resistance, gaps, and scalping. Bernstein spends several chapters discussing trading psychology, and he sees successful traders as developing a balance between technique and "art." He writes:

My experiences as a trader have led me to the conclusion that successful day trading is built upon a unique foundation combining art and science. If pressed to "guesstimate" as to the proper mix of both qualities, I'd say that approximately 70 percent of successful day trading consists of technique or science and 30 percent skill and/or art. This, however, would be a misleading statement inasmuch as both elements are symbiotic; without one, the other would be ineffective. The successful day trader combines both elements synergistically to produce profits, consistency and longevity.

Reviews (45)

An excellent and easy to read book from a great author
This book provides excellent trading tools that work equally well for both the futures and equities markets.

Jake's methods give clear entry and exit signals, significantly reducing the risk from day trading. There are also plenty of examples and charts in the book to make sure that you fully understand what Jake is taking about.

Additionally, Jake is realistic about day rading and about the attitudes and psychology of day trading. He not only provides excellent information with clear examples and charts of various trading methods, but he also lists rules that help traders avoid mistakes, learn from those that do occur, and generally trade much more effectively.

Lastly, Jake is very willing to help readers. He says at the end of his preface to call on him if he can be of any assistance, and he is not just saying this. I had a question because the trading program I use showed some charts differently than the examples in the book, and I e-mailed Jake asking him how I should modify the charts, and he quickly replied to my questions and helped me solve the problem.

A great resource for day traders...should be required reading.

A COMPLETE WASTE
Take my word for it and save your money, the techniques in this book simply do not work!

A professional trader writes 25 books?
Trading especially short term trading need great concentration and a full-time commitment. Professional traders write few or no book.

Mr. Bernstein's books and articles are everywhere. Sometimes I came across his publications, I scanned through a few pages to see what he had to say about trading. Mr. Bernstein makes statements which are generally safe and easy to say. For example, I read his article the other day. He tells the readers "Do your homework.", "The trend is your friend." etc. Of course, these are the common rules for traders. But what are the concrete steps to implement these rules in the real-life situation? Well, I could hardly find any. On the other hand, he stated in that article: "...I maintain that a good trader can make any system works." I found this statement unprofessional and phony. The reasons:

1. Many systems on the market are just trash and can not be used at all.

2. Good traders wouldn't pick up any system and risk their money with it. Good traders are very selective and only trade a few systems that have proven record and are suitable for their individual styles.

I found similar problems in other works by Mr. Bernstein. Should I bother to buy this book? No, thanks.

I have read books from many different writers and have more than 10 year active trading experience. So I know something.

A few tips(IMO) for choosing good books on trading:

1. Only a small percentage of books on the market are good or great.

2. Popular books are not necessary good books. If you automatically think so, you've probably fallen into "Herd mentality" thinking.

3. Trading is a bottom line business. Find books written by traders who had proven long-term(5 year or more) successful trading records. They are the ones "know how".

4. Be wary of the authors who write many trading books.

Good luck.

For hardcore day traders, and straight to the point
Most books for "day traders" are so general that their techniques and advice can be successfully used by swing-traders (those who keep stocks for several days), and even by longer-term investors. This one is different. The author, Jake Bernstein, strongly advocates real day trading, when no securities ever kept overnight. Therefore, his techniques are usable for very short term trading only.

The advantage of this book is that it has very little general rhetoric and comes straight to the point, that is to the techniques which the author finds profitable. Basically, 90% of the book is about the use of technical indicators (such as various moving averages and oscillators) to determine potentially profitable entry and exit points. The topics discussed in particular detailed manner are the use of moving averages, stochastic indicator, moving average channel (MAC), relative strength index (RSI), momentum, and techniques for trading of opening gaps. The author also suggests several oscillators of his own. However, despite the simplicity of these indicators, one has to own software such as Omega Research Trade Station to calculate and plot these home-made oscillators in real time, or write a program yourself. There are also several chapters applicable to futures only (actually, the whole book is about trading in the futures market, but 95% of techniques are equally applicable to stocks).

The great advantage of the book is that it is very specific, clearly illustrated, and gives plenty of detailed technical advice and a number of potentially profitable trading techniques. Be advised, however, that those who are interested in trading but do not have enough capital to take profits from half-a-tick changes (and I, too, belong to this group) cannot really take advantage of this book. No trend and no trade longer than a few hours is discussed there! Therefore, this book is for the serious day traders, and only for them. If you are a day trader, this book is a must; if you are not, do not bother buying it but rather consider other options, e.g., the excellent book "How to get started in electronic day trading" by D.S.Nassar which is good for traders on any time frame.

A few decent ideas, hardly "complete" though
I picked up this book with hesitation, aware of the reputation Bernstein has as a hypester right up there with Larry Williams, Ken Roberts etc. However I can say I was pleasantly surprised. He approaches the subject honestly and with little hype.

One problem I had with this book (and with a number of books like it) is that the authors present their methods as THE way to go without encouraging experiment. The difference between giving a man a fish and teaching him how to fish etc. I suppose you can't really blame the authors though when a majority of readers are looking for secrets and shortcuts rather than building blocks they can use to develop their own styles and tools and think for themselves.

I think Bernstein wrote off moving average based signals a little quickly, without looking into more advanced techniques of using them. His recommendation of the 3 and 24 MA's also did not look so hot on any of the charts I looked at (5 and 20 seems much better to me), nor did the moving average channels based on highs and lows seem that applicable on intraday charts.

I was also less than pleased with his countertrend interpretation of how to play gaps, though he at least went back and semi-rectified himself a little later in the book by pointing out that gaps can be indicators of an accelerating trend too- duh.

I did like his use of slow stochastics, and have found oscillators to be a fairly useful intraday tool IF applied correctly. His explanation of how to interpret oscillators in general will be useful to new traders and/or anyone who doesn't really know how to use oscillators.

I would say that if you are still looking for a methodology, there is some stuff in here that could appeal to you- IF you experiment with it rather than just taking Bernstein's methods by rote. This book is aimed at fairly new traders who have been around the block once or twice, but are still a little wet behind the ears and searching for their styles.

Last but not least, I don't see how this book could be deemed complete without a more thorough discussion of risk management, profit expectancy and reward to risk ratios. ... Read more

Book Description

The Amazing Life of Jesse Livermore

Subtitle: World’s Greatest Stock Trader

Jesse Livermore is considered by many of today’s top Wall Street traders as the greatest trader who ever lived. For the first time, in one book: his trading secrets, techniques and stock market methods are revealed. Livermore broke new ground in trading the market. His timing techniques, money management systems, and high-momentum approach to trading in stocks and commodities were revolutionary, and remains valid today.

Livermore ran away from home in 1891 at 14 years of age, with five dollars in his pocket, and immediately started as a board boy in the offices of Paine Weber. He made so much money he was banned from the "Bucket Shops" of Boston and New York. He made a fortune in the crash of 1907, and later lost it, only to make it and lose it several more times.

In the panic of 1907, J. P. Morgan personally implored Livermore to stop selling-short, stop pounding the market into oblivion. He made 3 million dollars in one day during the panic.

He married a beautiful Ziegfield Follies showgirl. They lived in a magnificent mansion on Long Island with 14 servants and a three hundred foot yacht, anchored off the back yard, that ferried him to Wall Street every morning.

He sold the market short before the crash of 1929, and entered the depression with 100 million in cash.

A mysterious and secret trader, he worked out of a palatial penthouse, a highly secure office-fortress on Fifth Avenue where he traded in absolute secrecy. Once the market was open, no one in the office was allowed to speak until the market closed.

In 1935, Dorothy, his beautiful wife, shot their son, Jesse Livermore, Jr., in a heated, drunken argument in Santa Barbara. It was one of the great scandals of the era.

Jesse Livermore ended his own life with a self-inflected bullet to the brain, ending one of the most dynamic careers in Wall Street history. A complex genius whose life ambition was to win on Wall Street and he did. ... Read more

Reviews (10)

Cautionary Tale
The Story of his life and the description of his methods are very worthwhile to get familiar with if you are into the markets. Jesse was a repressed and brainy kind of guy who related to every aspect of his life with dollars. It was his way of controlling things. But it led from one catastrophe to another. I don't think he saw people as people. I guess what I am saying is that money has limited power and Jesse's story is an excellent demonstration of this. If you make a pile, you gotta read this. It may save you a ton of grief. Author's style is lively and to the point. As a book, it's certainly no waste of time. Enjoy!

AN EXCELLENT BIOGRAPHICAL PORTRAIT OF A WALL STREET KING
This book provides an excellent biographical portrait of one of the greatest Wall Street speculators that ever lived. This book is well researched and well written. In fact, as Livermore's life story unfolds in the book, the reader begins to feel as though they are eyewitnesses to the time. The reader gets to experience Livermore's triumphs and defeats. In the end, the reader will find that Livermore's life mirrored the stockmarket more than the life itself. This man's life ran with the bulls and the bears culminating in one big crash. Ultimately, Jesse Livermore died of lead poisoning, a fatal gunshot wound to the head.

If it is one's intention to garner the "Livermore Key" to profits in the stockmarket then this is definitely not the book. While the author briefly touches on Livermore's tactics and attempts to tie it into current stocks, the information provided is rather general and somewhat vague. The reader would be better off looking elsewhere for investment advice. However, if you are truly interested in Livermore himself then you might consider it. In the final analysis, while this book is a good one it really does pale in comparison to Edward LeFevre's classic book "Reminiscence of a Stock Operator." LeFevre's book speaks to the reader while Richard Smitten's new book is more of a third person account leaving the reader as more of an observer.

Poorly written and weakly researched
One of the poignant aspects of Livermore's life was that he was a loner who rose to great heights in business, friend to many of the industrial barons of an earlier era, but he left a sad, diminished legacy.

Smitten's book doesn't cover the tragic biography very well. He deserves some credit for teasing out secret details, but his writing is poor, repetitive and full of conjecture. He admits to inventing conversations to ease the telling of the story, which is not all bad, but he exhibits little skill. He does manage to convey a heavy down-draft of tragedy, with fortunes, marriages and kids' lives imploding, but Smitten had spent little ink discussing Livermore's contribution to all this, so that this seems to come out of the blue. "Seabiscuit" captured its characters and the wheeling and dealing of its time, but this book never rises to that level. Only someone interested in trading would slog through this muck.

So Smitten is not a natural storyteller, nor does he cover Livermore's trading particularly well. Smitten reveals the true identities of some characters from "Reminiscences of a Stock Operator," but never lets the reader know why, for instance, Ed Hutton should be interesting to us. Of course a trader over 30 would know, but there is more of a story here that needs a more competent researcher and writer.

If you are interested in a tragic tale, this book remains unsatisfying. If you are interested in learning something of trading, skip this book altogether and go to LeFevre's "Reminiscences," one of the most revered books on trading ever written.

Mr. Smitten the line of least resistance in on the Pivot
NOT ON THE TREND LINE. I DID learn something of value to me in one chapter in your own words. Because of this I am very grad I bought your book.

Not worth the paper it's written on.
This book goes beyond fiction, it's pure fantasy. If you like fiction, there are many other authors who do a much better job. Just make up your own fantasy about Livermore and save yourself the cost of the book. I hope to find a good use for it before I die, but I'm not optimistic. This book will in no way help you in your trading endeavors. Honestly, look someplace else...or donate the money you would spend on this book to charity. ... Read more

Book Description

Praise for Trading Options to Win

"Johnston has put together a very thorough work on futures options, and many stock option traders would learn something from this book as well. I especially like his reliance on expected returns and probability to choose the best trade to make."
–Lawrence G. McMillan, President, McMillan Analysis Corp.
bestselling author, Options as a Strategic Investment and Profit with Options

"Entirely different from any other book on options, thank goodness. I fall asleep immediately and without fail after opening a book on options, but not this time. [This book is] readable in one or two sittings with fascinating cases that really illustrate the principles. It may be a delusion, but I think I understood most of Trading Options to Win. Some chapters on specific strategies I will definitely be reading again and trying to use in my own trading."
–Barbara Rockefeller, founder, Rockefeller Treasury Services
author of The Global Trader and CNBC 24/7 Trading

"Stuart Johnston’s Trading Options to Win is an intelligent, literate, and informative description of the many ways to trade options that also explains why these trading strategies work. Those new to options trading absolutely need this book. Experienced options traders should not miss it."
–Desmond MacRae, freelance business writer featured in the Financial Times and New York Post

In Trading Options to Win: Profitable Strategies and Tactics for Any Trader, S.A. (Stu) Johnston shares thirty years of trading experience to help you gain an advantage and improve the profitability of your trading within the options and futures markets. Unlike some books, which offer a single "sure-fire" system for turning a profit, Trading Options to Win examines a broad methodology and philosophy of trading that puts the likelihood of profits on your side of the table.

Attempting to minimize risk, establishing a discipline for entering and exiting trades, and claiming a healthy return on capital (ROC) can be difficult in the options and futures markets. But with Trading Options to Win as your guide, you will quickly learn how to do this–and much more. ... Read more

Reviews (4)

A Rare Find for the Option Writer
First, the problems. He takes awhile to get to his point. You need to get past his cute phrases and chatty style. Second, I use chapter and section headings to help me through a book. His headings a worse than useless. For example, one chapter heading is "Just the Facts, Ma'am".

Getting past all of that, I found my efforts well rewarded. He truly comes up with very original insights into trading. He examines risk from a unique perspective. His ideas on option writing cannot be found in any other book I have seen.

For example, most traders use seasonality to find market trends. His chapter on using seasonality to predict non-trending, choppy markets (important for the option writer) is truly a classic. He sees, smells, and thinks about how the option writer can make money in the markets, and I have found no other book with such real world trading ideas.

If you sell options, this is a must read.

Major Disappointment
The high reviews inspired me to purchase this book...but the contents are very general and the title consequently is very misleading...it doesn't teach anything about trading techniques...it's almost exclusively a book about trading psychology.

Practical Solutions for the Options Trader
When you want to set up a spread, which options set should you use ? out of money, in the money or at the money ? When your trade is not going your way, what kind of damage control is possible ? If you want answers to such practical questions, then this book is for you. All traders in options should read this book. While the book refers to options on futures, traders in stock options should find many useful concepts - as I did.
Persons new to options will probably read this book once they have gone through some introductory text.

Excellent ¿ practical trading with an edge!
Johnston's book is very well done - an excellent read without the hype. It assumes the reader has some knowledge of the options markets. Beginners should start with Natenberg's book then read "Trading options to Win". It's a must read for anyone that's serious about trading options with a defined edge. The book covers several extremely practical trading methodologies, when to employ them (when the odds are very much in your favor), and how to defend when things go wrong(maybe the most important part of the book). I have read numerous books on trading options. This is far and away the most practical book I've found on the subject. It gives the reader something they can use immediately. I also enjoyed the real world trades and how they were deployed and defended. I have to give this book the highest rating. ... Read more

Book Description

Acclaim for Bernie Schaeffer's expert approach to options trading.

"Bernie Schaeffer's penchant for contrary investing is terrific, and his market calls on that strategy have been excellent. He shows how to apply contrary thinking—and many other types of 'expectational analysis'—to option strategies. All option traders should enjoy reading this book." —Lawrence G. McMillan President, McMillan Analysis Corp. Author, Options as a Strategic Investment and McMillan on Options.

"A superb book that will benefit both stock and options investors. It blends technical analysis, fundamentals, investor psychology, and strategy to come up with an excellent approach to the markets. A good read for the investor seeking new trading ideas in today's fast moving markets." —Leo Fasciocco Stock Market Columnist, Investor's Business Daily.

"A breath of fresh air for options traders. Most options books are textbook in nature. Schaeffer cuts right to the chase and provides solid ideas on how to use options effectively for both conservative and trading-oriented investors. It's innovative and fresh. Get a copy." —Thomas J. Dorsey President, Dorsey Wright & Associates Author, Point & Figure Charting.

"Hercule Poirot once observed that 'the methods of detection change, but the crimes, they remain the same.' Bernie Schaeffer has proved this basic truth anew by using contrary opinion analysis brilliantly to navigate a stock market that has left most other 'contrarians' foundering on the rocks. The insight his book offers into how he has managed this feat makes The Option Advisor very timely as well as very valuable." —Paul Macrae Montgomery Analyst, Legg Mason Wood Walker Inc.

When nationally renowned options expert Bernie Schaeffer talks, everyone listens. A "Market Maven" on CNBC, a frequent guest on CNN, and a top-rated Timer Digest market timer for the past decade, he has also been a featured speaker at numerous investment conferences. His views on the stock market and the economy are regularly quoted in the Wall Street Journal, the New York Times, Barron's, and Investor's Business Daily. Thousands of subscribers eagerly await each issue of his Option Advisor newsletter, and when he distills his decades of knowledge and experience—as he does in this remarkable book—savvy investors everywhere pay close attention.

In The Option Advisor: Wealth-Building Strategies Using Equity and Index Options, Schaeffer offers his own carefully tested, prudent, and profitable strategies for trading options. He begins by dispelling outdated folklore and beliefs about the options world, and reveals instead how options can be used as an inexpensive, leveraged vehicle for profiting from the movement in an equity. With clarity and logic, he explains the basic principles of options trading, emphasizing, in particular, why options cannot be traded like stocks—a very common and potentially very costly mistake.

Schaeffer delves into the psychology of options trading, demonstrating how to distinguish between "high" and "low" expectation stocks, how to measure sentiment, and how to master the valued Contrary Opinion Theory for successful trading. He shares his wealth-building techniques for selecting the right stocks, assessing risk, managing your options portfolio, and, most important, for reading market timing indicators. What The Option Advisor boils down to is expert guidance on managing your money, while avoiding the most common errors of options trading.

In a detailed section on applications, Schaeffer gives you practical, hands-on advice on how to use a full array of real-world trading strategies, including quick trades, aggressive trading strategies, conservative approaches, portfolio protection, and the increasingly popular Long-term Equity AnticiPation Securities (LEAPS). With characteristic thoroughness, Schaeffer also offers invaluable information on selecting an options broker, opening an options trading account, and doing research on the Internet.

From the novice to the experienced investor, The Option Advisor offers a gold mine of information on how to achieve success in options trading. ... Read more

Reviews (18)

Great Technical Analysis
Only 50% of the book is about options. The other 50% concentrates on how to use technical analysis to find winning stocks. It is probably the best book for the beginner and intermediate trader. With the Technical analysis, it can be used for both stocks and options. It belongs on every trader's shelf. The reason it didn't get a "5 Star" is that he really doesn't go into closing a position if the trade is going the wrong way. I pretty much had to learn that on my own. I have read it cover-to-cover 3 times and certain chapters at least 6 times.

Super
This book is more than an option book. Actually it concentrates more on the technical analysis than options. It tells you what to look for in the charts, option volume and oprn interest, and then which option strategy to use. This is by far my favorite book on stocks and options.

Whining hasn't made anyone ANY money!
I find it funny how many negative things I have been reading here and I have a few comments. First, this book is GREAT? In 4 months I made thousands of dollars by following Bernie's strategies. Second, he actually TEACHES how to do something with your money that isn't confusing, unlike many other money making strategy books. Third, he STRESSES over and over that you MUST CUT YOUR LOSSES when they hit 8% and let your winners run to overcome the deficit.
I wonder how many of these negative people that have posted angry messages here were too emotional and let their greed or fear get the better of them while making investment decisions attempting to follow Bernie's advice? I learned a long time ago that being negative and only talking about the problem and not a SOLUTION to the problem is NOT the way to live life.
Please read this book, and FOLLOW HIS RULES. It does actually work. And don't listen to Forbes, for crying out loud they have to hate anyone else that might actually compete with them and make them look bad. How many of you have made a dime off of what Forbes magazine taught you? I haven't. Read this book...it works, but ONLY if you work and FOLLOW THE RULES!

Almost 2 stars but the sales calls pushed it back to 1
I bought the book from Bernie's web site and then got lots of sales calls. Wow what a mistake that was.

OK book. Nothing new. Stick with McMillan, Natenburg and Fontanills for original material.

Bernie ranked the worst newsletter for 2000 by Forbes
I bought the book and found nothing of value except his analysis of put-call ratios.

I noted that Forbes in 2001 ranked his 2000 newsletter performance as being the worst with D rankings for performance

Poor Bernie. ... Read more

Book Description

Distills complex theories for the benefit of the average trader with little or no background in finance or mathematics by offering a wide range of valuable, practical strategies for limiting risk, avoiding catastrophic losses and managing the futures portfolio to maximize profits. Numerous topics are explored including: why most traders lose at the futures game most of the time; why most mechanical trading systems are apt to fail; the probabilistic approach to trading; how to make stop-loss orders work for, rather than against you; the pros and cons of options versus futures trading; and how to limit risk through diversification. ... Read more

Reviews (3)

A Complete Insight Into Money Management Strategies for FT
While a large percentage of individuals do not achieve financial success in the futures markets, traders who do succeed possess a solid understanding of risk and exercise a disciplined program of loss containment and money management. Nazer J. Balsara's Money Management Strategies For Futures Traders provides a wealth of materials for futures and stocks traders alike. The book is a must-read and a relatively easy-read for those who wish to enhance their risk management sophistication with complex tools and who believe that the best way to survive and prosper in the markets it to contain your losses, play defensively and let profits ride.

All trading opportunities are not created equally and part of a trader's job is ferreting out the best markets to trade. The chapter on commodity selection presents four approaches to market selection, based largely on the work of J. Welles Wilder, the father of ADX (Average Directional Index Indicator) and RSI (Relative Strength Index). Here, the book is a good review of Wilder's ADX but focuses on the less-known aspect of his work: the commodity selection index. Wilder's approach uses ADX to identify futures yielding the greatest dollar-value price-moves for a given margin investment, in short, getting you in on the most appealing trades. Balsara also shows the utility of Wilder's price movement index when it is it is not possible to determine or estimate reward, thereby enhancing the analysis and return in mechanical trading systems. Sharpe ratios are also considered as a way of measuring risk-adjusted returns.

The text gives useful approaches to managing risk through stop-loss orders by laying out the usage of time stops, dollar-value stops and volatility stops. There is also a presentation on how to survive locked-limit markets by creating synthetic options positions, spreads or offsetting positions in the cash markets.

A studied read of this finance professor's work will help traders develop both the skill and the art of disciplined risk-taking.

NOT FOUND TO BE QUITE USEFUL
The book contains some basic ideas in the earliy chapters. I was expecting to get something more this for one main reason: It has been found that many novices do not know or care much about money management. It is really the experienced trader, especially the one that has lost their stake completely that then goes in search of money management strategies and usually these people would have already covered the basics somewhere already, with the amount of free literature given by the exchanges and brokerage firms. Estimating "risk and reward" by the use of head and shoulders, triangles, channels is very basic to my understanding and to that of most futures traders.

For my personal use, I had found that the chapter on money management found in Larry William's "Definitive Guide To Futures Trading" has been more useful to me than this entire book

Do not enter the futures game/war without this book!
I only wish I had utilized the statistical tools the author provides earlier in my trading career. However, I did find the book in time. Don't let the reference to statistics scare you. The author uses basic alegebra to aid you in trade selection and risk control.

This book may not guarantee you success in trading, but I do believe that if one does not apply the basic money management principles presented by Prof. Balsara, sooner or later, failure in the futures market is almost certain.

If you can't name the 5 basic steps of money management, I suggest you stop trading immediately, get this book with a couple of ticks worth of money you'll not be losing while your not trading. Read it a few times, set up your money management spreadsheet and may you trade with clarity previously unknown in your endeavors in the futures market. ... Read more

Book Description

Praise for Playing for Keeps in Stocks & Futures

"Wise traders seeking to improve their trading knowledge and skills are well advised to learn from the accumulated experience and knowledge of those who have already paid their dues, such as Tom Bierovic. Bierovic is an accomplished trader and an excellent teacher, and he provides indispensable and valuable information in his new book, which every serious trader should acquire and study. I heartily recommend it."
–Edward D. Dobson, President, Traders Press, Inc.

"In Tom’s extraordinary no-nonsense way, he has presented so much more value than almost any reader will ever appreciate. Not only has he provided three solid approaches, he includes an insight into the strategic thinking found in many of the best traders!"
–Glen Ring, President, Glen Ring Enterprises
Analyst and publisher of View on Futures newsletter and Daily Update

"For traders wondering what to do with all those technical indicators that are part of their charting software packages, Tom Bierovic offers three trading systems that use combinations of their inputs to generate specific buy and sell signals. Moreover, Bierovic offers enough variations and trading concepts so that enterprising readers should have no trouble devising their own trading systems based on this compact, but idea-filled, text."
–Jack Schwager, Author of Market Wizards and The New Market Wizards

"A carefully crafted book and well thought-out selection of some of the best techniques. The analytical tools are that much more valuable because the author has employed them in his own trading program and refined them to reflect a good technical analysis foundation on which to build and succeed."
–Timothy Slater, Former Managing Director of Dow Jones Seminars, Computrac Technical Analysis Software Corporation ... Read more

Reviews (5)

Clear and Concrete
First off, I'd like to say that for someone who loves technical indicators like the MACD and Parabolic Sar, I really enjoyed this book. Having read many books where technical indicators are simply described on their individual merits, it was wonderful to find a book where the author actually presented some systems in a concrete and clear manner.

I'm sure you'll find this book very clearly written, with the 3 systems clearly illustrated with examples on the entry method along with a few exit methods.

Before explaining his systems, the author presented some quite introductory materials on the technical indicators used - this is good and systematic, and certainly helps the beginner, but if you are an advanced trader with clear ideas of your own trading system, you may not find this book so useful.

Good
Not without flaws, but a damn good trading book. The author presents 3 methods, which are probably fairly well known, but to have it clarified and presented with examples certainly would help a trader add another tool to their box. I did notice plenty of varied entries and often vague exits, which may have been a result of curve fitting to the examples. However, it is of a minor concern.

EXECELENT INVESTMENT
TOM MADE A VERY HIGH QUAOLITY SMALL AND HONEST BOOK.

HOPE HE MAKES ONE FOR PLAYING FOR KEEPS IN OPTIONS.

Strategies That Work
I anxiously awaited the publication of this book since I am always on the lookout for new trading ideas from Tom Bierovic. I first discovered Tom's work at one of the Futures Magazine Trading Seminars where he was a speaker. What caught my eye was the down to earth, solid, and workable trading principles he presented. I was also impressed that he had, for years, been a full time trader for his own account and was willing to share the ideas and systems that he actually used. "Playing for Keeps" is no exception. Tom lays out in detail three trading strategies that can be used in all markets and timeframes. The strategies are presented with numerous examples. I believe that with all of Tom's background in system research and development (he was head of system development for Omega Research and is currently writing a series of articles for Active Trader magazine), the fact that Tom chose these three strategies to present in his book gives me confidence that these strategies will make money if properly applied. (I would have given the book five stars if it had included Easy Language code)

Simple but Good
An excellent book. Most books on trading will focus on setups, focusing on entry strategies, whilst skimming over aspects of stop placements, and exits. Worst still, some books will give you setups that are completely untestable with well selected examples. This book is a very thin volume. However despite that, it is one step ahead compared to most books. It actually explains the concepts and mechanics behind three trading plans in precise details. All three ideas are testable. No, they dont always work. Only trading plans with 20/20 hindight do. What it offers is more. It emphasizes the minimal elements that are necessary for anyone in constructing a good trading plan.This is of course obvious. But not obvious enough as otherwise, there wont always be a fixed population of 90% of traders who lose money every year. A good enjoyable read. ... Read more

Book Description

Skilled stock traders and investors are increasingly turning to futures trading to augment their overall performance. Mastering Futures Trading introduces these traders to proven and popular Strategies, concepts, and methods for becoming experts in this high-potential, highly leveraged game. Unique in its unflinching look at the realities of futures trading—both the highs and the lows—this clear and accessible book covers how to trade hot new single-stock futures, proven futures trading strategies, blow-by-blow examples of futures trading in action, and more.

Reviews (3)

*** LOOK ELSEWHERE ***
I wasted my money on this book, but I didn't waste my time -- at about page 40, I started to skim thru the rest of it.

The book contains the usual caveats and recommendations concerning money management, except for a "Rule of 10," which
really did not fit in. Basic explananations included are chart patterns, support and resistance, and candlestick reversals.

Then, fully 94 pages are devoted to a self-indulgent log of 6 weeks of trading by the author, listing subjective interpretations of events in making trading decisions. How we are to become "masters of futures trading" by reliving this undisciplined hodgepodge, I do not know.

If you have not already done so, investigate the books of Perry Kaufman, Alexander Elder and Jacob Bernstein, and get your time and your money's worth.

Best I've read...and I've read a few
By far the best trading book I've ever read. Clearly written, well thought out, and to the point. Mr. Yoder seems to be an extremely intelligent guy who has learned how to profitably trade through years of experience. His "units" money management concepts are uniquely his own and worth the price of admission. For the first time, I have a confidence about what I am doing and why...and I'm making money!!!

On a 1* to 5***** scale, I give it 6******!

watch a good trader at work
This book is the best of trading books: First, it has excellent theory about set-ups, trading psychology and identifying good and bad streaks in the market for your individual style.

Second, it follows the author and lets you watch over his shoulder as he executes trades over the course of some days in 2003.

The emphasis is on S&P and treasury futures but the principles apply to any futures trading.

The prose is very readable. The author explains where to place stops, and focuses on his style which is largely swing trading -- selling from support into resistance or from resistance to support.

It has helped me trade better and it will help a lot of people who are getting started in futures trading. ... Read more

Book Description

Trading Optures and Futions is a complete course on how to put money in your pocket trading with combinations of futures and options. More than that, it's the trading course you've been hoping for. It gives you explicit, detailed information about an exciting and novel way to win BIG money

In this fascinating course, Joe Ross reveals the innermost secrets of the options traders along with the best of futures trading. He teaches you step-by-step how to win.

You will see: Who the real competition is in the options and futures market and why they don't want you to know the truth about options. What your broker won't tell you and what he can't tell you. ... Read more

Reviews (1)

The Thinking Person's Way to Trade Options
Joe Ross has written the best strategy guide for trading options I have ever seen. This book shows you how to blend the best features of option trading together with the best of futures trading. The book is a classic, and with each reading, I gained more and more understanding of how the markets really work, and how to take advantage of combining options and futures.

If you are an option trader, you need the understanding of the underlying futures as presented by Joe. If you are a futures trader, Joe shows you the simple and most straightforward way to bolster your futures trading by adding to it the world of options.

To say that this book is outstanding is to vastly underrate its contents. A bargain at any price and worth far more than its cost. ... Read more

Book Description

Clear, concise, and practical, The Trading Game shows you how to harness the power of money management for any trading method "The goal of most futures traders is to make a million dollars as fast and as painlessly as possible. Unfortunately, few traders achieve this goal. In The Trading Game, Ryan Jones demonstrates how the proper application of his new money management strategy, Fixed Ratio Trading, can enable an average trading system to earn spectacular profits. My advice? Don’t trade until you’ve spent as much time and effort on money management as you’ve spent on developing your entry and exit rules." —Tom Bierovic, Manager System Trading & Development Education, Omega Research, Inc. "Ryan Jones is on the cutting edge of the most important element in the art of speculation—be it stocks or commodities—money management." —Larry Williams, trader and author Long-Term Secrets to Shot-Term Trading "Money management is the most overlooked part of trading but is the key to building enormous wealth. Ryan Jones first overviews classical methods and then discusses a new paradigm which, combined with a reliable trading method, can lead to financial security." —Murray Ruggiero, President Ruggiero & Associates; contributing editor, Futures magazine "At last—a money management book that is not intimidating or boring. Ryan Jones has made a complex subject easier to understand and follow. I am especially excited for all independent traders." —Glen Ring, President, Glen Ring Enterprises editor of the widely respected View on Futures newsletter "Ryan Jones has always been one of the most innovative traders and creative minds in the industry. With the writing of The Trading Game: Playing by the Numbers to Make Millions, he has taken the science of money management and risk control to another level. I wholeheartedly endorse his efforts and recommend this new work required reading to anyone either just entering the trading arena, or already participating in it." —Ted Tesser, CPA and author, The Trader’s Tax Survival Guide ... Read more

Reviews (24)

This is a phenomenal book
I have been trading,reading, and writing about futures for 11 years. In my journey I was recommended Ryan Jones's book. In his book he details the various methods of money management, then he exposes their flaws, and finally he presents you with his solution for money management. This is a great book for any student that is serious about his success with futures. Ryan has a friendly approachable style to his writing that engrosses you, even though the information is laden down with statistics and mathematics.

It is a nice eye opener to really see how important money management is and how it can work for those that are dedicated and disciplined.

Purchasing this book ... will definitely help you keep more money in your pockets.

A Must Read if You Trade Commodities
This is the best book I have ever read regarding the seldom mentioned topic of money management. Jones gives examples that are easily verified using any spreadsheet package. While I could go on for hours raving about the book's great points, I do want to point out three flaws that he discusses, 2 only in passing comments and the other being the root of his money management technique. In ever so brief statements, Ryan downplays the use of neural nets to assist in trading. He also states in passing that one can only expect to earn $3,000 - $5,000 per contract per year in the T-Bond futures arena. Having just begun my futures trading career two and one-half weeks ago using a neural net I developed to call position trades in the T-Bond market, I have profited $2,700 after commissions and am shooting for $30,000 - $50,000 over the course of a year. The point, don't knock nueral net's ability to discern market inefficiencies. The last point deals with Jones' contention that one can grow $100,000 in profits on a per contract basis to $1,000,000 using his fixed ratio method. This statement is true, but only in a world of zero income taxes! Even accounting for this major overlooked flaw, his money management technique is unmatched by anyone and is one I will follow as I contimue to trade futures.

Finally a system for the little guy!!
I read this book with mixed feelings. First, after looking at some of the reviews, I wondered if we were reading the same book. Now I know why -- the writing is terrible. Some sections I had to read 3 or 4 times before I even began to understood what he was talking abou. It does not surprise me that several reviewers obviously were clueless on what he was talking about. This book desperately needs a re-work.

My second reaction was "Finally a system for the small accounts". Most of the money systems I've seen are designed for major accounts (e.g. "don't risk more than 2% on a trade" -- yeah, right!) The trader with $10,000 or less should find a very workable system to manage his account. His system handles important issues of how to build equity on the way up, and another section on handling downturns, including streaks. He gives a good discussion on other money management techniques as well.

Wow!

It will take several.... several readings for it to make sense, but, believe me, it is well worth the effort. Hopefully we can look forward to a second edition that makes sense.

High grade snake oil.
The author now has a trading website (smarttrading.com) where he offers a course teaching you not only to trade, but to be able teach _others_ how to trade, "mentor" as he puts it. Anybody stupid enough to fall for the rubbish claims of those "selling shovels" to traders deserves the losses that are nigh on certain to occur.

Snake Oil Doctor
Sadly snake oil wins over real value once again. This is very seductive proposition but if you had applied it to real long term systems over the past year you would be BROKE.

All of the books in the "also read this" list are much better. Go there to preserve your capital. ... Read more

Book Description

Welcome to the world of Martin "Buzzy" Schwartz, Champion Trader--the man whose nerves of steel and killer instinct in the canyons of Wall Street earned him the well-deserved name "Pit Bull." This is the true story of how Schwartz became the best of the best, of the people and places he discovered along the way and of the trader's tricks and techniques he used to make his millions. ... Read more

Reviews (58)

I could not put it down...best trading book I have read yet!
While this book is not overly strong on technical details, it is excellent reading: well written and the author is liberal in showing his successess and his mistakes with equal candor. I consider this a "must read" for stock or comodiities traders/speculators. Marrty Schwartz discuss his methods that made him a champion trader, and gives one example of his "sheet of boxes that he prepares and uses daily, but I would have like a little more detail there. I like how he had to balance his family and his health with trading. His stories all have a point he is putting across.....well worth the money! Once I started. I couldn't put it down!!! If he writes another book, I'll buy it! The best trading book I have read so far!

If you are looking for strategy look elsewhere
Marty Schwartz is a great trader, no doubt about it. Is he a legendary trader? No. Is he a champion trader? Yes. But how many trading contest winners do you know that have gone on to succesfully manage OPM as "Buzzy" likes to refer to it. Contests and real life have nothing in common with each other. How many of us have paper traded with good results only to find ourselves losing in "real-time". Schwartz is too arrogant. He claims to have out-traded George Soros, what nonsense!! George can crush him with a mere bat of an eyelash. Buzzy is a great trader for himself, but when it comes to OPM (other people's money), forget about it. No scalper is going to make money trading in huge size. Unless they are on the floor or they are Monroe Trout. The strategy section in the book is very thin. There are a few interesting tidbits, such as mid-month buying and so on, but nothing that will really help you in your trading. An amusing read overall. However, Schwartz really needs to get over himself, he is a great trader, but he should never make comparisons with himself and the "big boys"; he just ends up looking stupid.

Worthless and offensive
If you have a "groupie" personality then you will probably like this book; however, if you are an independent thinker (absolutely necessary to be a successful trader) then you will almost certainly hate it.

It is absolutely worthless as far as learning anything useful about trading, although it is informative as a study in egomania in the extreme.

Studies, as well as my thirty plus years of experience in the futures trading business, show that the overwhelming majority of individual traders end up losing (as many as ninety percent or more). I am convinced that anyone who likes this book has the wrong personality type to end up a winner. Only a celebrity worshipper would like this offensive piece of garbage.

To be a successful trader you have to be able to think for yourself and be capable of acting on your own. No independent thinker could like this book. The fact that so many apparently did like it is one good reason why so many traders end up losing: most people are born followers, unable to think and act independently. Followers, celebrity worshippers and groupies simply do not make good traders.

I have never met Mr. Schwartz, but if this book is an accurate depiction of him I hope I never do. For his sake I hope he has matured and grown as a human being since he wrote it, and is now profoundly embarassed by it.

Excellent entertainment
This book was an excellent entertainment. It was well written and broken up into small chapters. The author effectively conveys the emotions and errors that all traders go through at one time or another. Through the story, you pick up insights on trading, market makers and commodities.

Don't buy this book expecting it to teach you how to get rich, because it won't do that.

Buy this book if you're interesting in learning about a successful traders life and the trials and tribulations that go along with it.

A great read!
As a professional trader I am always looking for the "edge". This book is weak on actual trading methodologies. But I really enjoyed hearing about his daily life and routines as a trader. Especially what it's like when things go against you as they eventually will if you are in this game long enough.

I had trouble putting the book down. Highly recommended.

Woops, just got a fill, gotta go! ... Read more

Book Description

One of the best-known futures traders explains how to trade for profit in today's global futures marketplace

Look into the bookcase of any successful futures trader, and odds are you’ll find a worn, well-used copy of Mark Powers’s Starting Out In Futures Trading. In this new edition—the best-selling book’s first update since 1993—Powers reflects on the many new forces that are shaping the industry. From new rules and regulations to the emergence of electronic trading and the Internet, Powers’s unquestioned knowledge and experience cover all the key basics in the world of futures trading—and show traders from novice to veteran how to profit in that world.

The perfect starting point for a new trader, and a valuable refresher for anyone, Starting Out In Futures Trading, Sixth Edition, covers:

• How to choose a broker and place an order
• The increased importance of stock indices
• New research, rules, and regulations ... Read more

  Reviews (2)

  Buy the updated version!!
  It is a well written book, but this edition is plagued with print errors, and mistakes in at least one chart. Don't make the same mistake I did; buy the last edition (I bought mine on the store with very little time ...) Anyway, I guess the last version is corrected and updated. I like the fact that mixes personal experience with academic and corporate studies about the market!

  Good Content / Great Value
  For the price this is a great book to learn and help understand the specifics that make up all the basics in trading commodity-futures. After reading this book, I felt as if I had taken a formal college course on the subject of Futures and understood it much better from various angles now. There's no "hype" in the book, no agendas, no further products or services to buy being pitched to you, just plain vanilla (ok, french vanilla) basics being laid out for you in textbook fashion for you to digest in your own terms. I like that - it's refreshing in a way. It is probably like this because it was really written 20+ years ago (don't worry, it's been revised many times to be modernized - 5th edition, 1993). The book was originally written and printed in "Commodities" magazine as a popular mini-course series (before the magazine changed it's name to the modern "Futures" magazine we know it as today). Even though I knew much of the content from personal experience (the most costly way) or from other readings, my CTA, etc, I did not always understand the "why" behind the rules I was following & how the markets work the way they do from both a technical and fundmental perspective (dynamics). Of the some 28 chapters, I really took interest in almost every one. I can't say that about most of the other trading books I've read. Put it this way... if I could keep only 5 trading books, this would be one of them. You'll likely dump more than that on the commissions for 1 trade - or, worse yet, even more than that on 1 bad trade. ** Beginners, I recommend the following: If your goal is to have deeper pockets from trading - then you must first go deeper in your understanding of futures markets & trading them (i.e. Read the book). ... Read more

Book Description

A powerful new way to navigate today's unprecedented market conditions

"Bill Williams' pioneering application of chaos theory to the financial markets is leading technical analysis into the twenty-first century and beyond. New Trading Dimensions presents a complete, highly original, and intriguing trading method with clear, detailed illustrations, and challenging practice pages. Bill's wisdom, technical expertise, and skillful teaching style make this a revolutionary must-have new book for stock and commodity traders." —Tom Bierovic, Product Manager for User Education, Omega Research, Inc.

"Bill hits the nail on the head. The essence of successful trading is a combination of knowing who you are and allowing the market to reveal its secrets. Bill Williams has the gift of explaining these concepts better than anyone I know. This is a compelling work that belongs in every trader's library." —George Angell, author, Profitable Day-Trading with Precision

"Bill Williams is one of the great educators of our time. He freely shares his knowledge and experience in this inexpensive book. This book is required reading for all market technicians. The principles are sound as we have tested them with our software." —John Hill, President, Futures Truth, Co.

"Bill Williams has always been an excellent teacher, taking complex terms and concepts and translating them into a clear, commonsense approach to trading. This book provides a complete trading program that reflects Bill's years of wisdom and experience in the marketplace." —Darrell Jobman, Editorial Consultant and former Editor-in-Chief of Futures magazine

"Bill uses the hidden structure of chaos theory to skillfully guide the reader to the correct psychological profile for success in trading. Bill then goes on to provide a comprehensive structure, a trading paradigm, directly derived from his research and considerable trading experience. You will be challenged, interested, and have a mind-opening experience that's even fun." —Joe DiNapoli, author, Trading with DiNapoli Levels

As today's market environment continues to change dramatically, more and more traders are discovering that traditional forecasting methods—pure technical analysis and fundamental analysis—just do not work. Sending out contradictory messages, these opposing schools of thought leave investors baffled about the future direction of the market, and consequently, at a loss as to how to tailor their trading systems. As a result, many practitioners have now turned to a new forecasting "cocktail" that combines traditional charting methodologies with chaos theory and human psychology. In this groundbreaking book, Bill Williams, a seasoned trader at the forefront of this dynamic new approach, explains exactly what it is, how it works in current stock and commodity markets, and how to use it to your advantage.

Based on human nature rather than the vagaries of the market, the new trading dimension works on the premise that we trade not the market, but our own belief system. By assessing what your personal biases are, you can determine how they influence your ultimate success—or failure—and then adjust your trading strategies accordingly.

Written by an expert in the field who has been featured in Futures, Worth, Success, and other prominent publications, New Trading Dimensions takes the latest in scientific knowledge about human behavior and applies it directly to the fields of stock and commodity investing and trading. With straightforward guidelines, it shows you how to adopt the right attitude toward the behavior of the market and use the right tools (ATTITOOLS) for profitable trading. Packed with practice exercises, specific applications to different types of investments, and a detailed review of important market signals, here's where you'll learn how to:

• Discover what the market wants and align your own beliefs with the direction of the market
• Apply chaos theory to trading and investing
• Use Williams' "Market Alligator" for analyzing and profiting from the markets
• Employ a multidimensional trading program that includes such tools and techniques as fractals, oscillators, AC signals, psychological zones, and balance lines
• Exit trades in a timely fashion to reap high returns

Drawing on the author's more than forty years of experience as both a successful trader and seasoned trainer, this invaluable guide offers a breakthrough method that has proven its ability to turn investors into consistent winners. ... Read more

Reviews (27)

Fractals in review
As an avid student of Chaos Theory and Fractals, I found this book to be similar to his other one. Williams eludes to using fractals in his analysis but makes no reference to fractal dimensions, Koch curves, monsters or any of the original theories as proposed by Mandelbrot. He does present some scaling principles and their application to Elliot Waves, but this is under the assumption that the Elliot Wave is correct or that you believe in it. I do agree with some of the money flow theories Williams proposes, which is probably the most clearly explained and substantiated part of his trading theory. For a more scientific approach to fractal analysis, I recommend "Fractals and Scaling in Finance" by Mandelbrot and for software, "Fractal Finance" by Tetrahex. Both of these follow a similar system, although Fractal Finance does use a MACD which appears similar to Williams.

Excellent presentation of a complete trading methodology
This book provides a clear description of an excellent trend-following trading plan. Novel indicators are introduced and explained. Although some of the indicator definitions are hard to follow, I received a rapid response from Dr. William's company through e-mail answering my questions about one of the indicators. Although the book frequently refers to the Investor's Dream software sold by Profitunity, the concepts of the trading plan are fully disclosed and can be implemented in other technical analysis software. The aspects of the book relating to psychology are also sound and informative. This is definately one of the best books on trading that I have read.

Can Not Recommend
Nothing more than an infomercial for his business - selling software to support the methods. The "fractal" method that he presents appears to be backwards i.e. sell an up market, buy a down market. Also he discusses his trend lines by color and all of the plates are in grey scale. You can figure it out but it does take away from the desired effect.

most useful book on trading I have read in my life
I have seen there are few people criticizing the use of chaos theory in this book. I have read other books on chaos, probably they are more complex, closer to the theory, but apply them to the market if you can.
This book emphasizes on knowing yourself and then the market. My experience is it took me from being not consistent winner to a profitable trader. I can also look to the market as a friendly place for the rest of my life. No more struggle, just flow.

Do not buy this book!
Williams uses big words (fractals, chaos, quantum mechanics) to impress the reader, but says nothing meaningful.I found this book a waste of time and money ... Read more

Book Description

A book for all traders. Although the vast majority of futures traders lose money, a few select groups consistently win: floor traders, commercial traders and insiders. In this fascinating and provocative book, veteran book, veteran futures trader Grant Noble takes the reader inside the futures market and explains the strategies used by each group of winners. He demonstrates why winners must have an ``edge'' if they are to outperform other traders consistently. Noble shows how an individual trader can adopt the same methods used by the winners to beat the market. In addition, Noble unveils a system to interpret and profit from news media coverage of the markets. A savvy and streetwise book on trading, The Trader's Edge will provide the ``inside edge'' needed to become a successful trader. ... Read more

Reviews (3)

Belongs on every trader's bookshelf
I normally do not like most books written on the subject of futures trading. All the way from their bombastic titles to the poorly thought out ideas which lose money consistently.This book is different. It contains a lot of new ideas and some pretty interesting information. The chapter on "split openings" is well worth the price of the book alone. It is a very good manual for short term traders, particularly day traders.

excellent book for stock and commodity traders or wannabes
I couldn't put this book down for the first 1/3rd...and liked the 2nd third...but the last 1/3rd dragged. Lots of good rules and explanations and ideas from a practical point of view. Well worth the price, and I learned a lot.

i made money the first day i read the book.grant is great
the ideas generated from this book, helped me make money right away.Grant drilled into me the importance of what the winners do and what they do is they concentrate most of their time and energy on the opening, which most of us amateurs, the majority, tend to ignore.If you want to succeed in the world of trading, Grant points out, you must start doing what the winners do.I strongly recommend this book for the day trader and position trader.Put away all your books on indicators and buy this book. ... Read more

Book Description

From the basics of open outcry trading to advanced technical indicators, Fundamentals of the Futures Market gives beginning futures traders everything they need to get started. This hands-on workbook walks readers through the entire process to read and understand major reports, track prices, follow the major indicators, and more. In today’s fast-paced futures trading arena, it provides the tools readers need to trade in any commodity market—grains, metals, or financials—and minimize risk as they sharpen their trading skills. ... Read more

Reviews (9)

Sloppy editing
Most "investment advice" books suffer from poor editing, both of the 'grammar & syntax' variety, and, more distressingly for this genre, flat-out incorrect information. Klines's book is no exception- the grammar & syntax are fine, but her book is replete with factual errors and misstatements. For example, on page 207, she defines a synthetic long futures as "sell a call option, buy a put option." Wrong. That is a synthetic short position. Similar errors pervade the book.
One useful feature is chapter 3, which presents futures contract specifications. However, even here, some of the information is occasionally confusing or misleading.
This book is published by McGraw-Hill, a highly reputable house. My surmise is that McGraw-Hill has no financial experts on its editorial staff; otherwise, it wouldn't tolerate the publication of such a sloppily-edited piece. Disappointing!

GREAT BOOK
If you are new to trading, or are interested in learning about the futures markets, then you will not be disappointed with this book. I was definitely impressed with the amount of market information that it covered. The History of the Futures markets, fundamental & technical analysis, mechanics of the trading floor, margins, interpretation of news, are all explained. In addition, it contains a great