Best Book out there for n00bies

Discussion in 'Educational Resources' started by Desert_Dude, Feb 19, 2007.

  1. Hi all,

    My name is Desert_Dude and I'm a newbie..

    ***hello Desert_Dude***

    ....anyhow, I am looking for a good book to read up on futures trading. I plan on putting a great deal of time and energy into reading up on futures trading before I even start with the simulator.

    Any one have any good suggestions??

    Thanks in advance!!!
  2. Drew07


    I bought a book yesterday titled "Getting started in Futures" by Todd Lofton. It looks pretty thorough and is targeted towards beginners. It was only 20 bucks at Barnes and Noble. I can't really give a review of it but someone else out here has read his work they might be able to help. Good Luck.
  3. Thanks Drew,

    I guess it's as good a place as any to start and for a $20 investment, I don;t see how you could go wrong...

  4. whats your background and age kid ...
  5. LOL, kid... I haven't been called a kid since I was... well... a kid!

    I am 33, worked as a Mutual Fund reviewer for a financial planner for about a year, 5 years ago. Was going to get my series 7 but never bothered.

    I've been managing a mortgage brokerage for 2 years now.

    I want to do this for myself as a "side thing" to see if I like it/can handle it/can make money at it.

    I have heard all of the "my-life-is-so-good-i'm-writing-this-while-on-a-beach-sipping-pinacolata's-from-my-grasshut/office-in-Maui-making-$20k-a-month-trading-futures-working-2.5-hrs-a-day-on-my-laptop" BS that is EVERYWHERE in reallife and is especially prevelant on the i-netz0rz these days... and I wanted to see for myself what the h00plah was all about.

    How about you?


  6. dude

    do not think finding "the holy grail" and making 120K from laptop
    in maui ... is that easy to attain

    however the idea is pretty cool thanks !

  7. No, I certainly don't think it's easy in the least!!

    Honestly, I'm not too sure I even have the temperment for it.

    But, on the other hand, I don't want to miss out on anything either.

    thanks for the input!
  8. Mind Over Markets by Dalton...tough and takes time but worth the effort
  9. :confused:

    Desert_Dude said "best book for a newbie." And he admitted to zero screen time. Your advice may be well-intentioned, but this one is not even remotely close.

    D_D, forget books for now. What you need is:

    1) to learn about the fundamentals of markets, asset classes, instruments, order types, basic technical analysis, money and risk management, psychology of trading, and so on. You couldn't go wrong with Van Tharp's "Trade Your Way to Financial Freedom" for a first-rate introduction to the proper framework and mindset you'll need to start developing and cultivating. The framework and mindset, both of which go against the human nature itself, for most people.

    However, most of what you need to master for now is free online, if you only bother to look. You are here on ET... good start.

    2) to start accumulating screen time, in simulation mode. Don't trade, even though it's not real money; observe. As Yogi Berra put it, "You can observe a lot just by watching."

    Good luck.
    #10     Feb 20, 2007