Book recommendation for a new futures trader?

Discussion in 'Educational Resources' started by prox, Sep 27, 2002.

  1. prox


    Looking to learn about day trading e-minis and so forth. I have thousands of trades worth of equity experience and a strong grasp on TA. Can anyone recommend some beginner/intermediate-level books (written in the past 5 years preferrable) that might help me get started? Also, is anyone using Medved Quotetracker to track futures or do I need something more complex?

    Thanks in advance.
  2. Mexchewy


    Forgive me for adding to the previous poster's question but with so many books, seminars, and infomercials about the market and how they can help you make a lot of money, how do you know whom to trust? I want to start trading, but it seems to me that those who are exclusively doing seminars are getting wealthy through teaching seminars. Some books, give you very little information but tell you to attend the seminars. At the seminars, they read from the book. It's hard to know whom to trust. In answering the good fellows question above, can you please take my question into consideration as well. :confused:

    P.S. As a new person, just recently introduced to the world of finance and business, I am eager to learn from experienced traders. However, if I am a distraction or a nuisance, can you direct me to a beginnerstrader site (as opposed to this elitetrader site :p ).
  3. No, you've reached the beginner trader site. It doesn't go any lower than this.

    1st question. If you already have trading experience, it would still be very helpful to read anything on the mechanics of the futures markets. Probably the more basic the better, that way you won't have to endure all the little tidbits of useless trading strategy informatuion.

    2nd question. There is nothing out there very earth shattering. It's not like every experienced trader knows some secret that a new trader doesn't know. There is probably more money making ideas tucked away in all the various threads and posts on this site than anywhere else. And you can read them for free and at your own pace.
  4. "winner take all" gallacher. this is a MUST READ for all new future traders.


  5. 3rd question, Do you need more charting software? No, if you have stock charting software, you already have about a hundered times more stuff than you need for e mini.

    It is really very simple. One winning trade and you'll be an expert. (and then one losing trade and you'll be a beginner again.) Back and forth...back and forth....
  6. doublea


    Commodity Futures Game by Teweles. This book is for a serious futures trader and it has five sections. Sections 2 & 3 are a must read for any trader. The other 3 sections are for futures trader only.
  7. Mexchewy


    I appreciate the response.
  8. the ONLY difference between day trading futures and day trading equities is the futures are FASTER, & better, more accurate FILLS in most cases.


  9. ChewyMex, it's good that you've made this observation so early. Just like 90% of aspiring traders fail, 90% of trading educators couldn't trade if their life depended on it. I guess the best advice is do your Due Diligence on the "educator".