hey guys, sorry to bug you but i needed some input on some good book on futures trading, any suggestions. I used the search on this board which really rocks! but couldnt find much, and the book review didnt have any books on futures. I think i might give futures a shoot. I feel pretty comfortable with predicting the short term moves and psychology of the mkts, of course no crystal ball, but i guess call it a gut feeling, and with proper risk management i might have a shoot at it. so any help would be appreciated. thnx a bunch
i guess i probably dont need another technical analysis book, i have a nice library of those but something that would give me a bit more info on how the futures mkts work, i read all i could on the web, but certain things liek in the stock mkt you trade first hour or so, then take a break and then the last half hour of the day. you know that kind of information. thnx guys/girls
wrote the "Live the dream by profitably day trading stock Futures" Cheesy title but he made $2200 into $100,000 in ten years never had a down months. must get it on aamazon (used) out of print. You may want to also check out Larry Williams - electronic futures book. (can't recall the title) Ever since the nasdaq mania futures trading and books were taken the back seat to stock trading and EDAT trading. But rest assured these are the best you can find (even if a bit dated) lot's of silly books are out there - explaining the contracts and leverage etc. some charts.... with a sprinkle of TA - guarantee to lose big dollars if novice.:eek:
Go to Linda Raschkes web site and read "Trading the S&P futures" article. Its a book in a few paragraphs. While your there, read the rest of them too.
nicodemus, do you have the specific link, i went to m gordon.com but i couldnt find that particular article. or does she have a different site? thnx
Janko you might also want to check out this site. In the mornings she will post charts and comments before the market opens. http://www.mrci.com/lbr/charts/index.asp
Thank YOU sir, this is what i was looking for. Ok back to studying i go. Oh and i also got the mkt wizards book, hey 15 bucks on amazon, i say its money well spent. thnx for all your help
"with some exception it's not a bad idea to take profits early" With a guy trading one contract (and believe you me) you should NEVER touch more unless you have some serious money and not too shy on taking losses - you cant sell half your position to take a little profit. I find her comment strange. I know "where she is coming from" but with trailing stops you should let your profits ride as much as possible. Her point I guess is the indecies trade 7/24 and after hours market the manipulation is heavy. Stops don't work !!!! But despite this you should jump on taking a loss, not a profit as a rule !!!!!!