Diary of a Professional Commodity Trader: Lessons from 21 Weeks of Real Trading

( 1 )


Becoming a consistently successful trader is a tough job. It's acraft that requires extensive knowledge of themarkets—involving a whole lot more than just finding the nextgreat trading opportunity—and a process that addresses manyaspects of both the market's, and your own, behavior.

Nobody understands this better than author and longtime traderPeter Brandt. During his thirty-plus years in this field, he hasmade every mistake possible and learned some major lessons alongthe way. ...

See more details below
Other sellers (Hardcover)
  • All (10) from $14.00   
  • New (7) from $23.37   
  • Used (3) from $14.00   


Becoming a consistently successful trader is a tough job. It's acraft that requires extensive knowledge of themarkets—involving a whole lot more than just finding the nextgreat trading opportunity—and a process that addresses manyaspects of both the market's, and your own, behavior.

Nobody understands this better than author and longtime traderPeter Brandt. During his thirty-plus years in this field, he hasmade every mistake possible and learned some major lessons alongthe way. He also developed a set of guidelines, rules, andpractices—which he refers to as the Factor TradingPlan—that direct his trading decisions.

Now, in Diary of a Professional Commodity Trader, Brandt sharesthe experiences he has gained trading price charts over the years,and through a real-time journal—which spans an arbitrary timeframe of 21 weeks (from December 2009 to April2010)—skillfully shows how he goes about the difficultendeavor of trading the commodity and forex markets using classicalcharting principles.

Divided into four comprehensive parts, this personal and uniqueguide clearly reveals the uncertainty and emotions that surroundtrading and details an effective approach towards speculation thatwill give you an edge. Page by page, it:

  • Offers a real-time, play-by-play account of Brandt's tradingactivities—the good, the bad, and the ugly—during his21-week journey, and provides valuable insights into marketanalysis, trade identification and selection, and riskmanagement
  • Highlights the basic building blocks of the author's FactorTrading Plan and examines how his plan continues to evolve with themarkets
  • Emphasizes the central role risk management plays in marketspeculation—an even more important role than market analysisor trade selection
  • Reveals trading as a fundamental battle to overcome your basichuman emotions
  • And much more

Unlike most books on this subject, which try to tell you how totrade, Diary of a Professional Commodity Trader offers a rare lookat the realities of this discipline and provides you with a firmunderstanding of what it really takes to improve your performanceover the long term.

Read More Show Less

Product Details

  • ISBN-13: 9780470521458
  • Publisher: Wiley
  • Publication date: 2/2/2011
  • Edition number: 1
  • Pages: 304
  • Sales rank: 811,042
  • Product dimensions: 6.20 (w) x 9.10 (h) x 1.10 (d)

Meet the Author

PETER L. BRANDT has been a full time professional commodity and foreign exchange trader for over thirty years. He has worked as a broker to large industrial clients, traded for his own account, and was one of the early pioneers in the commodity hedge fund arena. Along the way, Brandt published a highly regarded newsletter called The Factor, and also collaborated with Bruce Babcock Jr. to publish the highly acclaimed book, Trading Commodity Futures with Classical Chart Patterns. Primarily devoted to trading proprietary capital in commodity and forex markets, Brandt has achieved a lofty average annual rate of return of 68 percent during his career. The author can be reached at plb.factor@gmail.com

Read More Show Less

Table of Contents


Part I: Foundations of Successful Trading.


The Invention of a Commodity Trader.

Why I Wrote This Book.

This Book's Audience.

The Book's Roadmap.

Chapter 1: The History and Theory of Classical ChartingPrinciples.

My Perspective of the Principles.

Three Limitations of the Principles.


Part II: Characteristics of a Successful TradingPlan.

Chapter 2: Building a Trading Plan.

Trader Personality and Temperament.

Adequate Capital.

Overall Risk Management.

Points to Remember.

Chapter 3: Identifying the Trades and the Talk.

Trade Identification.

Vocabulary of the Factor Trading Plan.

Points to Remember.

Chapter 4: Ideal Chart Patterns.

Reversal H&S Pattern in Copper.

Reversal Rising Wedge in AUD/USD.

Continuation Wedge and Reversal Failure Top in Soybean Oil.

Reversal Triangle Bottom in Sugar.

Continuation and Pyramid Patterns in USD/CAD.

Reversal Top in Silver.

Continuation H&S Pattern in the Russell 1000 Index.

Continuation Rectangle in Kansas City Wheat.

Continuation Rectangle and Pyramid Triangle in Crude Oil.

Continuation H&S Top in the Dow Utilities.

Continuation Triangle and Reversal M Top and Flag in theEUR/USD.

H&S Reversal Top, a Continuation Pattern, and Two PyramidPatterns in the GBP/JPY.

A Reversal Symmetrical Triangle in the AUD/JPY.

Two Continuation Patterns in GBP/CHF.

A Triangle and Running Wedge in Sugar.

An H&S Bottom in Apple Computer.

A Major Continuation H&S and Symmetrical Triangle inGold.

A Series of Bullish Patterns in Copper.

A Failed Ascending Triangle in the USD/CAD Crossrate.

A 12-Week Rectangle in the Dow Jones Transport Index.

A Rare Horn in Brent Sea Oil.

An H&S Bottom Launches the 2009 Bull Market in theS&Ps.


Points to Remember.

Chapter 5: How the Factor Trading Plan Works.

Trade Identification.

Trade Entry.

Trade Risk Management.

Trade Order Management.

Points to Remember.

Chapter 6: Three Case Studies Using the Factor TradingPlan.

A Remarkable Technical Event in the Dow Jones.

A Year Trading Gold.

A Year Trading Sugar.

Points to Remember.

Chapter 7: Characteristics of a Successful Trader.

Intimate Knowledge of Trading Signals.

Discipline and Patience.

Analysis of Self and of the Trading Plan.

It Takes a Leap of Faith.

Points to Remember.

Part III: A Five-month Trading Diary: Let the JourneyBegin.

Chapter 8: Month One.

December 2009.

Trading Record.


Chapter 9: Month Two.

January 2010.

Identifying Trading Opportunities.

Amending the Plan.

Trading Record.


Chapter 10: Month Three.

February 2010.

Sticking to the Plan in Choppy Markets.

Trading Record.


Chapter 11: Month Four.

March 2010.

Trading Record.


Chapter 12: Month Five.

April 2010.

Relying on Classical Charting Principles.

Trading Record.

Outlook for the Future.


Part IV: The Wrap-Up.

Chapter 13: Analysis of Trading Performance.

How the Trading Plan Performed.

How the Plan (and the Trader) Evolved.

Summary: Best Practices Going Forward.

Chapter 14: The Best Dressed List.

A 7-Month Double Bottom in AUD/USD.

A 14-Month Coil and 9-Month Descending Triangle in EUR/CHF.

A 6-Month Wedge in EUR/USD.

A 16-Week Horn in GBP/USD.

A 4-Month Head and Shoulders in Bottom NZD/USD.

A 6-Month Ascending Triangle in Failure USD/CAD.

An 8-month Head and Shoulders Bottom in the S&Ps.

A 14-Month Symmetrical Triangle in Sugar.

A 7-month Triangle in Gold.

A Series of Continuation Patterns in Copper.

A Head and Shoulders Bottom in Crude Oil.



Appendix A: Factor Trading Plan Signals.

Appendix B: Quick Reference to Charts.

Appendix C: Recommended Resources.

Author's Note.


Read More Show Less

Customer Reviews

Average Rating 5
( 1 )
Rating Distribution

5 Star


4 Star


3 Star


2 Star


1 Star


Your Rating:

Your Name: Create a Pen Name or

Barnes & Noble.com Review Rules

Our reader reviews allow you to share your comments on titles you liked, or didn't, with others. By submitting an online review, you are representing to Barnes & Noble.com that all information contained in your review is original and accurate in all respects, and that the submission of such content by you and the posting of such content by Barnes & Noble.com does not and will not violate the rights of any third party. Please follow the rules below to help ensure that your review can be posted.

Reviews by Our Customers Under the Age of 13

We highly value and respect everyone's opinion concerning the titles we offer. However, we cannot allow persons under the age of 13 to have accounts at BN.com or to post customer reviews. Please see our Terms of Use for more details.

What to exclude from your review:

Please do not write about reviews, commentary, or information posted on the product page. If you see any errors in the information on the product page, please send us an email.

Reviews should not contain any of the following:

  • - HTML tags, profanity, obscenities, vulgarities, or comments that defame anyone
  • - Time-sensitive information such as tour dates, signings, lectures, etc.
  • - Single-word reviews. Other people will read your review to discover why you liked or didn't like the title. Be descriptive.
  • - Comments focusing on the author or that may ruin the ending for others
  • - Phone numbers, addresses, URLs
  • - Pricing and availability information or alternative ordering information
  • - Advertisements or commercial solicitation


  • - By submitting a review, you grant to Barnes & Noble.com and its sublicensees the royalty-free, perpetual, irrevocable right and license to use the review in accordance with the Barnes & Noble.com Terms of Use.
  • - Barnes & Noble.com reserves the right not to post any review -- particularly those that do not follow the terms and conditions of these Rules. Barnes & Noble.com also reserves the right to remove any review at any time without notice.
  • - See Terms of Use for other conditions and disclaimers.
Search for Products You'd Like to Recommend

Recommend other products that relate to your review. Just search for them below and share!

Create a Pen Name

Your Pen Name is your unique identity on BN.com. It will appear on the reviews you write and other website activities. Your Pen Name cannot be edited, changed or deleted once submitted.

Your Pen Name can be any combination of alphanumeric characters (plus - and _), and must be at least two characters long.

Continue Anonymously
Sort by: Showing 1 Customer Reviews
  • Anonymous

    Posted February 5, 2015

    No text was provided for this review.

Sort by: Showing 1 Customer Reviews

If you find inappropriate content, please report it to Barnes & Noble
Why is this product inappropriate?
Comments (optional)