Product Description
This practical book provides you with everything you need to be able to day trade grain futures effectively.
It opens with chapters explaining the author's preference for the grain futures markets, and his reasons for preferring to day trade, before going on to explain the fundamentals of trading and the more specific knowledge required for his chosen approach.In a concise, punchy style the reader is introduced to some timeless trading concepts, and shown how these ideas can be moulded into a trading system to attack the exhilarating grain markets.
No sophisticated indicators or complex mathematics are found here. Instead, the author builds a system based on tried and true trading principles, combined with sound money management strategies.The particular challenge for a day trader during the volatile market open is to quickly identify support and resistance zones, and form a view on trend direction, based on limited information. The author describes how he does this, with detailed illustrations and real life examples. He then goes on to explain exactly how, based on the initial market movement, he determines stop loss and target levels.
A key feature of the book is the chapter tracing the progress of a real life trading session. It shows the author's methods being applied in practice, with numerous screen shots giving the reader an understanding of what the trading process feels like in practice - effectively giving you a fly on the wall view of the author in action.
Another highly illustrated chapter shows a complete month of trading charts with commentary on trades taken, giving the reader an appreciation of the longer term trading process. A process described by the author as "constant repetition of a simple plan, concentrating on implementation excellence".Other chapters outline the author's views on the need for practice, and discuss the practical points a home-based trader should attend to in their computer and internet set up.
The book focus is to highlight the exciting opportunities of grain futures and provide the vital detailed and hands-on information that will make it invaluable to all futures, equity, options or CFD traders.
It opens with chapters explaining the author's preference for the grain futures markets, and his reasons for preferring to day trade, before going on to explain the fundamentals of trading and the more specific knowledge required for his chosen approach.In a concise, punchy style the reader is introduced to some timeless trading concepts, and shown how these ideas can be moulded into a trading system to attack the exhilarating grain markets.
No sophisticated indicators or complex mathematics are found here. Instead, the author builds a system based on tried and true trading principles, combined with sound money management strategies.The particular challenge for a day trader during the volatile market open is to quickly identify support and resistance zones, and form a view on trend direction, based on limited information. The author describes how he does this, with detailed illustrations and real life examples. He then goes on to explain exactly how, based on the initial market movement, he determines stop loss and target levels.
A key feature of the book is the chapter tracing the progress of a real life trading session. It shows the author's methods being applied in practice, with numerous screen shots giving the reader an understanding of what the trading process feels like in practice - effectively giving you a fly on the wall view of the author in action.
Another highly illustrated chapter shows a complete month of trading charts with commentary on trades taken, giving the reader an appreciation of the longer term trading process. A process described by the author as "constant repetition of a simple plan, concentrating on implementation excellence".Other chapters outline the author's views on the need for practice, and discuss the practical points a home-based trader should attend to in their computer and internet set up.
The book focus is to highlight the exciting opportunities of grain futures and provide the vital detailed and hands-on information that will make it invaluable to all futures, equity, options or CFD traders.
About the Author
David Bennett grew up in the UK and, after joining IBM from school, graduated in 1969 with a Computer Science degree. He emigrated to New Zealand in 1973 and had a successful career in the pulp and paper industry, initially as an IT manager and later in human resources, before achieving his ambition to retire at the age of 50. Several years as chairman of trustees for a large superannuation fund, working closely with various professional fund managers, piqued his interest in finance. Since retiring, he has travelled extensively, as well as serving as a community magistrate in New Zealand. However, his overriding passion has been trading, in many different styles. He has actively traded the derivative markets for over ten years. Having followed the sun he now lives on the Gold Coast in Australia with his partner and young son. He makes his living day trading futures contracts, traded in Chicago, over the internet. He specializes in the grains - wheat, corn and soybeans - futures contracts. He enjoys an occasional game of squash, and devotes a lot of time to keeping fit.
