Customer Reviews

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

5 star:		(8)
4 star:		(0)
3 star:		(0)
2 star:		(0)
1 star:		(1)

 

 

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.

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!

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.

I am new to trading futures (traded stocks for 2 years)
I started out trading corn futures because of the lower margin rates per contract. My first few trades I just tried to surf momentum but I didn't have a solid plan. I bot this book on my ipad, read it in one sitting. The next morning I opened up thinkorswim, waited patiently for a setup as described in the book. took the trade and made $150 in 2 minutes. (i am only trading 1 contract until i get more comfortable)

Bottom line for me. I really like the book. I have already told about 5-10 friends about it. I have been profitable from the techniques in the book (been trading futures only 2 weeks now) and it has helped me elevate my game. I am about to read it for the 3rd time. I never review books but this one in my opinion is really helpful for a newer futures trader.

Thanks David for the book, I also bot your trader calculator from your site and if you script the auto-trader to work on ThinkOrSwim not just interactive brokers I would probably buy that also.

-Nate

A very easy to read and relieable trading system that spells out your profit targets and stop loss targets that will help to take the human emotion out of the trading once you enter a trade.

recommend getting the calculator mentioned in the book and always before trading any system make sure to paper trade it first

also was able to contact author for follow up question and was replied to in a timely manner

After reading this book, I'm done working a job for a living. This is the most powerful information I've ever read. All you need is this book, and to apply it's principles to make a living in the grains futures market. Excellent job David Bennett! Anyone who gives this book a bad rating, obviously doesn't understand how the grains move, and/or lacks the patience or ability to learn simple methodologies and pair them with sound money management.

I originally purchased this book to learn more about trading grain futures. I have traded financial futures for several years, but I wanted to learn more about the grains. I was pleasantly surprised by the information contained in this work. What I found was a simple, yet effective trading methodology with clearly defined rules. I like the fact that there are several chart examples which give a visual representation to the setups. Everything you need to know to trade this methodology is presented in an easy to understand format. I began trading this method live after a trial run with a paper trading account. During the testing and live phases I did have some questions and emailed the author. Without fail, David Bennett responded to my questions quickly. In fact, he responded the same day! He answered my questions thoroughly every time. I found his level of customer service refreshing. I have read at least 50 other trading books and I have never had an author respond so quickly and completely. I have enjoyed trading this method so much that it is now my exclusive futures trading plan. If you are new to trading futures or a veteran looking for an effective trading methodology, do yourself a favor and pick up a copy of this book.

Tell the truth, I have read a lot of trading books, this was the one book that drove me to go pro and trade for a living. I always toyed with the idea, and after many tries, techniques, wins and loses, I can say that this guide has put it all together for me for the first time.
So thank you David.

This book doesn't have much actual substance. Most of the things are pretty beginner stuff that can be found in almost every "how to be a day trader" book.

The section on "Why Trade Grains" is 2 pages.

The rest is fluffy stuff like "Let winners run and cut losses quickly"

To give a general sense of the book there is a chapter on charts. It's 4 pages and explains what candlesticks are. There are also general chapters on things like support and resistance and entry points (i.e. don't buy a downtrend).

What little commodity specific information (tick size, volume, margin) there is could easily be found at the CME's website for free.