Day Trading Grain Futures: A Practical Guide to Trading for a Living (Na) [Paperback]

David Bennett (Author)

Book Description

Publication Date: May 1, 2009 | Series: Na

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.

Editorial Reviews

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.

Product Details

• Paperback: 155 pages
• Publisher: Harriman House (May 1, 2009)
• Language: English
• ISBN-10: 1905641931
• ISBN-13: 978-1905641932
• Product Dimensions: 9.6 x 7 x 0.4 inches
• Shipping Weight: 1.4 pounds (View shipping rates and policies)
• Average Customer Review: 4.6 out of 5 stars  See all reviews (9 customer reviews)
• Amazon Best Sellers Rank: #758,782 in Books (See Top 100 in Books)

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Customer Reviews

Most Helpful Customer Reviews

9 of 9 people found the following review helpful:

5.0 out of 5 stars Proven Profitable Grain Futures Day Trading Method, September 29, 2009

By 

Creek (Minden, NV USA) - See all my reviews

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This review is from: Day Trading Grain Futures: A Practical Guide to Trading for a Living (Na) (Paperback)

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.

5 of 5 people found the following review helpful:

5.0 out of 5 stars This Became My Trading Bible, April 6, 2011

By 

R. Jacobs (Chicago, IL) - See all my reviews
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This review is from: Day Trading Grain Futures: A Practical Guide to Trading for a Living (Na) (Paperback)

I was a bit hesitant after seeing the size of this book. Thinking that I actually needed a big thick book in order to be successful at trading the futures market. This book focuses only in grains (Wheat, Corn and Beans). I have read many books before but the simplicity of this book absolutely revolutionized the way I trade now. Following this strategy I leave all emotions aside and focus on following simple rules. The risk management that David Bennett teaches is the KEY to being a successful trader. Your wins become 2 to 3 times more than your losses, which means that even if you have a 50-50 win/loss ratio you still make money! I have found that there are more wins that losses which makes for a nice hefty profit!
You can trade using this book with little or large capital...and be successful at it!

5 of 5 people found the following review helpful:

5.0 out of 5 stars Simplicity is the ultimate sophistication, January 30, 2011

By 

The Duke - See all my reviews

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This review is from: Day Trading Grain Futures: A Practical Guide to Trading for a Living (Na) (Paperback)

I am an advent believer that simple trading methods work best. The key is a hands on approach to trading not an academic one. Books that are written by professional traders not professional writers who make money by writing books on trading. This book is written in a very clear language. The author uses excellent illustrations and examples. The author comes across as candid and interested in helping other fellow traders. This guy clearly trades for a living. The book is about 150 pages and colored. Very quick read because most of the pages are examples.
Again simple yet powerful.