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Commodity Futures and Options: A Step-by-Step Guide to Successful Trading / Edition 1
     

Commodity Futures and Options: A Step-by-Step Guide to Successful Trading / Edition 1

by George Kleinman, Richard Stagg
 

ISBN-10: 0273650335

ISBN-13: 9780273650331

Pub. Date: 01/02/2001

Publisher: Financial Times/Prentice Hall Books

More fortunes are made and lost more quickly in the commodities markets than anywhere else. It is a game of consequence where profits won by one player come straight out of the hand of another.

The majority playing are set to lose. The stakes are high. But for those who know how to play well, rewards can be immense.

Commodity Futures and Options

Overview

More fortunes are made and lost more quickly in the commodities markets than anywhere else. It is a game of consequence where profits won by one player come straight out of the hand of another.

The majority playing are set to lose. The stakes are high. But for those who know how to play well, rewards can be immense.

Commodity Futures and Options shows you how to play the game, and how to play to win.

The commodities markets have become stadiums for truly serious traders. For those with the courage and skill, these arenas are where the real fights are being fought and where fortunes can be made or lost in spectacular style. This is no amateur's game though. It takes cunning, nerve and the ability to predict the other players' moves to be a winner. It is the minority who takes the prize and they behave differently to those merely following the crowd. You must learn what makes them tick and how to act like them.

Commodity Futures and Options leads you through the markets and strategies to win, from the foundations to the trading frontiers. You will discover how the game is played, what the rules are, and how the money works. It will show you how to put a systematic approach into play, how to analyze the markets fundamentally and technically, and provide you with a global viewpoint and real-world examples. It outlines various methods designed to identify profitable market patterns and provides you with a valuable insight into trader psychology.

The author shares with us over 20 years' experience in this lucrative and cut-throat game and lightens the tone with a rich tapestry of amusing anecdotes that illustrate the colourful world of commodities markets.

Commodity Futures and Options is a primer and reference source for those that want to take the plunge into these waters, and a guide to those already trading in commodities that want to improve their performance.

Product Details

ISBN-13:
9780273650331
Publisher:
Financial Times/Prentice Hall Books
Publication date:
01/02/2001
Edition description:
REV
Pages:
256
Product dimensions:
6.92(w) x 9.86(h) x 1.00(d)

Table of Contents

Preface.
Acknowledgments.
Introduction: Do you have what it takes?
1. Basic training: a futures primer.
The futures contract. It's as easy to sell short as to buy long. Margin and leverage. Delivery months. Brokers and commissions. The players. Basis risk. A hedging example. The exchange 'open outcry' and the clearinghouse. The regulators and regulations. How to place an order.

2. Advanced futures.
Zero sum game. Money management. Contrary opinion theory. Spreads, straddles and switches. Normal or inverted? The 'Voice from the Tomb'.

3. A diabolical story.
4. An options primer.
Options. How options work. How are option prices determined? Should you exercise profitable options? Should you ever exercise an option? If selling options puts the odds in my favor, why not do it? Options--a prime hedging tool. Stock index options.

5. Advanced option strategies.
Buying options to protect futures. Writing options as a hedging strategy. Covered option writing. Option spreads. Ratios.

6. Eight winning option trading rules.
The rules. 1 Stay away from deep in the money options. 2 Stay away from deep out of the money options. 3 Trade slightly out of the money, at the money, or slightly in the money options. 4 There is a time for all seasons. 5 Covered call writing is a good strategy for what appears to be a bullish environment, and covered put writing is generally good for what looks like a bear. 6 In 'normal' markets, write straddles and strangles. 7 Look for opportunities to backspread. 8 Use options to hedge a profitable futures position.

7. How to analyze the markets fundamentally.
Fundamental analysis. Technical analysis. Which is the best way to go? Financial futures. Energy. Agriculturals. Metals.

8. How to analyze the markets technically.
Does technical analysis work? Charts. Classic chart patterns. Open interest. Oscillators. Point and figure charts. Japanese candlestick charts. Why technical analysis makes sense.

9. The most valuable technical tool (TMVTT).
Bottom pickers vs. trend followers. Moving averages. A moving average primer. Bottom line.

10. How to use TMVTT.
Step 1: Use the 30-day WMA to determine the longer term trend. Step 2: Use the 2-day WMA with the 9-day WMA (simultaneously) to generate buy and sell signals. Additional rules for maximum success /206.

11. A day trader's secrets.
Your nine essential day trader's rules. The trend reversal day trading system.

12. Your state of mind.
Motive. The six hurdles to successful trading. Money management. If you don't feel right, you won't trade right. Your advantage.

13. Twenty-five trading secrets of the pros.
14. "Jesse's Secret" : the most important lesson.
To make the big money you need to catch and exploit the big move. Jesse Livermore. Those who can be right and sit tight.

Appendix: World futures and options exchanges.
Index.

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