1. History and Development of the Futures Market.
The World's Developing Markets. Chicago and the Birth of Futures. Standardized Futures. 2. Overview of Futures Trading.
Futures Contracts. The Long and Short of It. Risk Transference: Hedging. Risk Acceptance: Speculating. Middleman to Everything: Clearinghouses. Performance Bonds: Margins Guarantee Safety and Honesty. Margins Can Vary. 3. Price Discovery and the Floor.
Where It All Happens. The Auction Market. Types of Floor Traders. Order Flow from Customer to Pit. Trading Floor Conclusion. 4. Reading Prices.
Futures Quotes. Grain Futures Quotes. Meat Futures Quotes. Metals Futures Quotes. Petroleum Futures. Food and Fibers (or the Softs). Financial Futures. Interest Rate Vehicles. Currency Futures. Index Futures. Understanding Financial Displays. 5. Hedging in the Futures Market.
Hedging. Who Are the Hedgers? The Cash and Futures Market Relationship. Basis and the Relationship Between the Cash and Futures Markets. Why Hedging Works. Leverage, Margin, and Bang for Your Buck. Elements of a Successful Hedging Program. 6. Speculating in the Futures Markets.
Speculating. Who Are the Speculators? Buy Low and Sell High or Sell High and Buy Low. Leverage and Futures Trading.Trading Strategy. Trading System Guidelines. 7. Brokers, Clearing Firms, and Orders.
The Regulators. Federal Regulation of Futures. The Commodity Futures Trading Commission. Futures Commission Merchant (FCM). Introducing Brokers. Associate Persons. National Futures Association. Choosing a Broker. Choosing an Individual Broker. Order Types. Order Placing. 8. Options Basics.
What Is an Option? Understanding Options Prices. Option Pricing Models. Option Strategies. Option Buying Offers Limited Risk. Option Market Wrap-Up. 9. Option Strategies.
The Straddle. Options in Conjunction with Futures…Married Positions. 10. Price Analysis: The Fundamental Approach.
Introduction to Market Fundamentals. What Is Price? The Laws of Supply and Demand. Using Fundamental Analysis to Forecast Prices. Using Fundamental Analysis. 11. Grain Futures Overview.
Production: Supply vs. Demand. Risk Premiums and Commodity Futures. Corn Futures. Wheat Futures. Winter Wheat Futures. Soybean Futures. 12. Food and Fiber (Softs) Market Overview.
Cotton Futures. World Sugar Futures. Cocoa Futures. Orange Juice Futures. Using the Softs Fundamentals. 13. Livestock Market Overview.
Herd Sizes, Profitability, and the Livestock Markets. Cattle Production Process. Demand Considerations. Pork Prices and the Changing Pig Market. 14. Metals Market Overview.
Understanding the Gold Standard. The Gold Fix. The Gold Market. The Silver Market. The Platinum Market. The Copper Market. Metals Review. 15. Petroleum Market Overview.
Black Gold, Texas Tea. Crude Oil Supply Considerations. Crude Oil Consumption Considerations. Petroleum Market Demand Picture. Petroleum as a Barometer of World Tensions. 16. Financial Market Overview.
Stocks, Bonds, and Currencies as Commodities. Interest Rates. Stock Market Futures. Currency Markets. It's All Tied Together…It's the Economy. 17. Price Analysis: The Technical Approach.
Taking the Technical Approach. Technical Analysis and the Bar Chart. Understanding Price Behavior. Channels. Triangles. Tops and Bottoms. Using the Technical Approach. 18. Developing a Trading Plan.
Developing Your Style of Trade. Discipline in Trading. The Technical or Fundamental Approach. Plan Your Trade, and Trade Your Plan. The Completed Trading Plan. Risk Not Thy Whole Account. Implementing Your Trading Plan. 19. Changes in the Futures Markets…Single Stock Futures.
Development of Single Stock Futures. Why Would You Use Single Stock Futures. Single Stock Futures Pricing Issues. What Single Stock Futures Will Look Like. Single Stock Futures and Changes in the Industry. Single Stock Futures Are Here. 20. Putting It All Together, Picking Markets, and Applying Your Knowledge.
Speculation Versus Gambling…A Big Difference. Choosing Markets. Choosing Your Poison…or Your Pot of Gold. Choose a Stable of Markets. The Perfect Business. Look Before You Leap and Practice Makes Perfect. Though It Is Not Perfect, It Definitely Helps. Continuing Education. Futures Trading Is Not for Everyone. 21. Managed Futures.
Explaining Managed Futures. Why Managed Futures. Finding Information on Managed Futures. Past Performance Is No Guarantee of Future Results…But It Helps.