7 Secrets Every Commodity Trader Needs to Know [Paperback]

James Mound (Author)

Book Description

ISBN-10: 0934380775 | ISBN-13: 978-0934380775 | Publication Date: January 7, 2002

The stock market has always intrigued me. The dynamics of finding sound companies prime for growth and profiting from their successes has an overwhelming attraction to most investors. Commodities, a shrinking investment realm by comparison, has always given the appearance of an all or nothing, rags to riches, dreamland. The truth is, however, commodities is enriched by concrete concepts and leveraged opportunities while the stock market holds the dreams of the derivative ownership in a company made up of more unknowns to the average investor than one would care to acknowledge.

My interest in commodities came about when I was introduced to leverage. Imagine being able to find a profitable strategy and then using the concept of leveraging your capital to create an exponential growth of profits. This is not merely a fantasy, but a reality found when properly investing in these markets. This book is designed to show you how to accomplish this ultimate goal by becoming a complete trader.

What is a complete trader? A complete trader is one who maximizes their utilization of all the tools and information available to them within a given market. This means combining the knowledge of technical tools and charting, gaining scope and perspective on the historical and present fundamentals of a market, and using proper trade designs to accomplish a risk managed and profit maximizing approach. Thus, using the tools and information available to minimize mistakes, control losses and maximize trade design to accomplish consistency in profitability. Every one of the secrets you are about to uncover in this book are about making you a complete trader. Anyone can make some simple technical forecasts, gain knowledge of the fundamental history of a market, and use futures or options to trade a market. But how many traders can make the analysis and decisions necessary to be a consistently profitable trader?

While exact figures vary depending on who you ask, they say 90% of commodities traders lose money. Only one out of ten will make money in this business; how is that possible? The majority of traders lose money because of lack of knowledge and understanding. Successful traders have knowledge, patience, lack of emotion, and perspective to make controlled investment decisions. As you read "7 Secrets" you will begin to grasp what it takes to be a profitable trader. There are no free lunches, can't miss trades, or windfall opportunities. Discipline, research, experience and patience make successful traders. You can be one of these traders if you take the steps outlined in this book to bring your investment skills to the next level; the level of a master trader.

Editorial Reviews

Review

New traders will find sound advice and should take the lessons offered here. -- Edward D. Dobson, Jr., Author & President of Traders Press, Inc.

About the Author

The up and coming author of "7 Secrets," James Mound, is currently head analyst for and owner of James Mound Trading Group, LLC. JMTG Brokerage is based out of Jacksonville, Florida, and offers analytics and brokerage services. With a number of years in both the stock and commodity investment realms, Mr. Mound was an owner and operator of PGA Futures, Inc., a Denver based brokerage and was the head trade analyst for Compass Financial. Mr. Mound has authored numerous articles and commentaries on a broad range of commodity topics, and currently write The Mound Report read by over 10,000 commodity enthusiasts each week. He also provides in depth trade recommendations and market commentaries for independent information services and brokerages.

Product Details

• Paperback: 89 pages
• Publisher: Traders Press (January 7, 2002)
• Language: English
• ISBN-10: 0934380775
• ISBN-13: 978-0934380775
• Product Dimensions: 8.3 x 6.4 x 0.3 inches
• Shipping Weight: 5.8 ounces
• Average Customer Review: 5.0 out of 5 stars  See all reviews (1 customer review)
• Amazon Best Sellers Rank: #2,381,320 in Books (See Top 100 in Books)

Customer Reviews

Most Helpful Customer Reviews

6 of 7 people found the following review helpful:

5.0 out of 5 stars The Best Commodities Book Ever!, March 5, 2005

By 

Bob Smith - See all my reviews

This review is from: 7 Secrets Every Commodity Trader Needs to Know (Paperback)

7 Secrets was an absolute awesome find for me, and you will thank me for recommending it! This book took my novice knowledge base (despite years of trading) and got me thinking and analyzing the markets at what I now feel is an expert level. I have been trading for a year since I read this book, signed up for Mr. Mound's newsletter (which is free - imagine that?!) and I must say I am a very happy trader:) I had previously tried Ken Roberts, Larry Williams and a host of others and what sets this methodology apart from those guys is that he doesnt give you a system, but rather a mental roadmap for success. I guess I realized that trade management and trade design, with well rounded knowledge of the technical and fundamental backbone of a market was more important than a 1-2-3 top or an automated trading system. Thanks Mr. Mound and I highly recommend this book to anyone trying to take their trading to the next level.