Average Reviews:
(More customer reviews)This is the only futures day trading book I know of that deals exclusively with the grain futures markets - specifically corn, soybeans, and wheat.
The first few chapters of the book cover the basics of trading grain commodity futures. In the balance of the book the author explains and profusely illustrates his trading method, which is reasonably simple and straightforward.
What I especially like about this book: (1) you trade with the trend ("The trend is your friend" is such a bromide in futures trading that almost nobody follows it anymore. They should. It works.). (2) You execute a maximum of one trade a day. (3) You calculate your profit objectives on every trade, how many contracts you can trade, and how much risk you should take on each trade - all before you ever enter a trade. (4) You track your trades to make sure the average profits on your winning trades are larger than the average losses on your losing trades. (5) You constantly monitor your trading method execution to ensure that you're winning more often than you're losing.
Caveats: You should thoroughly review the examples in the book, practice reading intraday candlestick charts, and paper trade in real time before you begin live trading. Also, practice using the tools the author recommends for determining your profit objectives, position size and stop loss points.
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