Gold Trading Boot Camp: How to Master the Basics and Become a Successful Commodities Investor [Hardcover]

Gregory T. Weldon (Author), Dennis Gartman (Foreword)

Book Description

Publication Date: February 9, 2007

Praise for Gold Trading Boot Camp

"If speculate you must, read Weldon first."
—James Grant, Editor, Grant's Interest Rate Observer

"This book delivers on all of the essential elements of successful financial literature. Weldon provides a compelling context, walks through the metrics that affect the price action, and assimilates the decision-making process in kind. From soup to nuts, this is one of the most comprehensive tutorials I've read on the subject of commodities."
—Todd Harrison, founder and CEO, Minyanville Publishing and Multimedia, LLC

"The gold price is rising in today's turbulent financial times. Preparation and knowledge are essential to profit from higher prices, and this book provides everything you need to take advantage of the trading opportunities thatlie ahead."
—James Turk, founder, GoldMoney.com

"This book, with its insights into the current investment climate coincides with what many feel is a new bull market in gold. There is no 'one-size-fits-all' investment approach, but every investor who applies such preparation and rigor as Greg outlines will certainly have increased returns with fewer losses. It should be on every investor's bookshelf, handy for reference, and re-read every year. Greg puts paid to the notion of random walk!"
—Kim Evans, CEO, Global Building and Supply

Editorial Reviews

From the Inside Flap

Gregory Weldon, a veteran commodities speculator and expert on the subject, has mastered the gold-trading rules through more than two decades of hard-won experience. And now, in Gold Trading Boot Camp, he tells you everything you need to know when going to battle in today's volatile trading environment.

Throughout history, gold has been an exceptionally safe and effective storage vehicle for the preservation of wealth. During certain periods, however, when political instability consumes headlines and intensifies investors' anxieties, gold rises to the top of the investment pyramid for its unmatched ability to create wealth relative to other investments.

This lively book is packed with first-person war stories from the front lines of trading. But don't let its entertaining style fool you, because Gold Trading Boot Camp is also packed with specific detail and hands-on trading advice. This technique-driven handbook tells you which trading environments are tailor-made for building speculative wealth in gold trading, while at the same time explaining how to maximize your profitability from buying and selling gold in virtually every type of market environment. It features:

• A step-by-step, detailed accounting of the regimen that a successful gold trader, and any successful capital markets investor, should follow each and every trading day
• A complete overview of the gold market's structure—essential for making consistently profitable trading decisions in this "tightly held" market
• Strategies for using technical analysis and quantitative systems to accurately define significant trend reversals, major pivot points, continuation and correction patterns, and trend acceleration sequences
• An overview of the macro-fundamentals that pinpoint the most pertinent economic indicators and information sources available. The author has crafted an approach that slices through today's overwhelming amount of data-noise and empowers you to make faster and more informed investment decisions
• Market-proven methods for identifying trends, trading on momentum, and profiting from the natural movements of the market
• A valuable reference library of long-term charts that accurately reflect the historic performance of gold and precious metals markets relative to other asset classes

Today's global-macro environment presents numerous chances to extract profits from the precious metals market—more than we have seen in nearly three decades. With the fast-paced and well-researched Gold Trading Boot Camp as your guide, you'll enter Greg Weldon's Boot Camp and discover how to take profitable advantage of this once-in-a-lifetime investment/trading opportunity.

From the Back Cover

Praise for Gold Trading Boot Camp

"If speculate you must, read Weldon first."
—James Grant, Editor, Grant's Interest Rate Observer

"This book delivers on all of the essential elements of successful financial literature. Weldon provides a compelling context, walks through the metrics that affect the price action, and assimilates the decision-making process in kind. From soup to nuts, this is one of the most comprehensive tutorials I've read on the subject of commodities."
—Todd Harrison, founder and CEO, Minyanville Publishing and Multimedia, LLC

"The gold price is rising in today's turbulent financial times. Preparation and knowledge are essential to profit from higher prices, and this book provides everything you need to take advantage of the trading opportunities thatlie ahead."
—James Turk, founder, GoldMoney.com

"This book, with its insights into the current investment climate coincides with what many feel is a new bull market in gold. There is no 'one-size-fits-all' investment approach, but every investor who applies such preparation and rigor as Greg outlines will certainly have increased returns with fewer losses. It should be on every investor's bookshelf, handy for reference, and re-read every year. Greg puts paid to the notion of random walk!"
—Kim Evans, CEO, Global Building and Supply

See all Editorial Reviews

Product Details

• Hardcover: 368 pages
• Publisher: Wiley; 1 edition (February 9, 2007)
• Language: English
• ISBN-10: 0471728004
• ISBN-13: 978-0471728009
• Product Dimensions: 9.1 x 6.4 x 1.3 inches
• Shipping Weight: 1.2 pounds (View shipping rates and policies)
• Average Customer Review: 3.7 out of 5 stars  See all reviews (23 customer reviews)
• Amazon Best Sellers Rank: #173,345 in Books (See Top 100 in Books)

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Customer Reviews

Most Helpful Customer Reviews

21 of 21 people found the following review helpful:

5.0 out of 5 stars Traders bonanza, April 16, 2007

By 

Gregory Parks - See all my reviews
(REAL NAME)   

This review is from: Gold Trading Boot Camp: How to Master the Basics and Become a Successful Commodities Investor (Hardcover)

This is one of the most useful trading books I've seen in a long long time.
As a broker and former Risk Manager in the financial markets, I am usually somewhat suspicious of books by "traders" and/or "pundits". I usually find myself confronted by lots of self-serving drivel and advice that is not in any way applicable to typical traders. This book is a refreshing change from that.
Every new or newer trader should read this book. The excellent charts and analysis contained on them are worth the book's price all by themselves. What I found of particular interest, though, was his honest and refreshing approach to the oft-neglected subject of Risk. Every trader should read this portion of the book.
The book lays out in intricate detail the process a true professional trader must go through to successfully speculate. Fascinating stuff!

14 of 14 people found the following review helpful:

5.0 out of 5 stars A timely Gold book for both Traders and Investors, March 28, 2007

By 

William Wood Allen - See all my reviews
(REAL NAME)   

This review is from: Gold Trading Boot Camp: How to Master the Basics and Become a Successful Commodities Investor (Hardcover)

Weldon is a highly regarded market watcher who, unlike so many others, actually puts his money where is mouth is. To me, this elevates his credibilty above those who don't really have "skin in the game", making this book that much more interesting and compelling to read.

I was interested to get an insider's view as to how he thinks and what techniques he brings to bear when he trades a market. I found that this book clearly lays out the macro-economic relationships that he puts into forming an opinion about a market - and it demonstrates that we are likely still in the beginning phases of what is going to be a multi-decade and significant bull market in gold. From this perspective the relevevance of the book is quite pressing. For the longterm investor, his fundamental view mandates an allocataion to gold in their portfolio.

Additionally, Weldon's discussion of the philosophy of technical analysis and demonstrations of his preferred methodologies provide timing and risk mangement guidelines for those who are more active traders.

Weldon shares a great deal of himself and his trading secrets in this book, and while the focus here is on gold, many of the lessons within can be applied to other markets. Truly a great read - and a must read for those who want to learn more about gold as well as the art trading.

25 of 28 people found the following review helpful:

4.0 out of 5 stars Gold: Lots of graphs, how to trade using technical approach, March 18, 2007

By 

John C. Dunbar (Sugar Land, TX United States) - See all my reviews
(REAL NAME)   

This review is from: Gold Trading Boot Camp: How to Master the Basics and Become a Successful Commodities Investor (Hardcover)

I liked this book because it did not overwhelm me with gold bug rhetoric. There was some (deservedly), but it was muted.

The author reviews his trading background then presents many charts and indicators that he tracks when he trades gold (and silver). Many are just background indicators. Some have been developed by the author.

As I'm more of a quantitative person, I didn't like the emphasis on technical charting methods. Specifically, I don't think that price alone provides much information itself (that's price on price, like crossing over moving averages, etc.). I like to see causal action (one thing signalling another), which he discusses to a lesser degree.

Fortunately, the author provides a wide selection of indicators and information that provides a fertile ground for the reader to develop and analyze indicators in this specialized area. I also liked the author's creation and discussion of relating one index to another.

John Dunbar
Sugar Land, TX