Starting Out in Futures Trading (Paperback)

by Mark Powers (Author) "Most of you have probably invested in stocks so you understand something about exchange markets and how exchanges operate..." (more)
Key Phrases: net premium cost, organized futures trading, financial suitability, New York, United States, Commodity Futures Trading Commission (more...)

Editorial Reviews

Product Description
One of the best-known futures traders explains how to trade for profit in today's global futures marketplace

Look into the bookcase of any successful futures trader, and odds are you'll find a worn, well-used copy of Mark Powers's Starting Out In Futures Trading. In this new edition--the best-selling book's first update since 1993--Powers reflects on the many new forces that are shaping the industry. From new rules and regulations to the emergence of electronic trading and the Internet, Powers's unquestioned knowledge and experience cover all the key basics in the world of futures trading--and show traders from novice to veteran how to profit in that world.

The perfect starting point for a new trader, and a valuable refresher for anyone, Starting Out In Futures Trading, Sixth Edition, covers:

• How to choose a broker and place an order
• The increased importance of stock indices
• New research, rules, and regulations

From the Back Cover
The #1 reference for futures traders everywhere ... now updated!

Everything You Need to Know to Become a Knowledgeable, Profitable Futures Trader

Starting Out In Futures Trading has become renowned for explaining the futures industry to beginners and veterans alike in simple, straightforward language­­and giving futures traders the answers they need in one easy-to-use, fingertip reference. This substantially revised edition reflects on the many new forces shaping the industry and carrying futures trading into the new millennium.

From how to open an account to the emergence of electronic trading and the Internet, Starting Out In Futures Trading, Sixth Edition, will provide you with market-tested, hands-on information about every important aspect of futures trading, including:

• Choosing a broker
• Placing an order
• Agricultural, financial, and stock index futures
• Margin and leverage
• Short-selling
• Globex electronic trading
• CRB index futures
• Fundamental versus technical analysis
• Seasonality and trading plans
• Volume and open interest
• Interest rate arbitrage
• Commodity hedging
• Spreads
• Financial futures
• Yield curves
• Stock index futures and options

How to place an order...techniques to develop a trading plan...new rules and regulations...Starting Out in Futures Trading, Sixth Edition, leaves no stone unturned in presenting you with an accurate, practical, and up-to-date look inside the world of futures trading. It remains the number-one guide for new traders looking to learn all about the futures market­­and the preferred reference for all traders.

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Product Details

• Paperback: 367 pages
• Publisher: McGraw-Hill; 6 edition (January 24, 2001)
• Language: English
• ISBN-10: 0071363904
• ISBN-13: 978-0071363907
• Product Dimensions: 8.9 x 6 x 0.7 inches
• Shipping Weight: 15.2 ounces (View shipping rates and policies)
• Average Customer Review: 4.7 out of 5 stars See all reviews (3 customer reviews)
• Amazon.com Sales Rank: #261,422 in Books (See Bestsellers in Books)

Customer Reviews

Most Helpful Customer Reviews

75 of 77 people found the following review helpful:

5.0 out of 5 stars Good Content / Great Value, July 2, 1999

By A Customer

This review is from: Start Out In Futures Trading: Updated and Expanded (Paperback)

For the price this is a great book to learn and help understand the specifics that make up all the basics in trading commodity-futures. After reading this book, I felt as if I had taken a formal college course on the subject of Futures and understood it much better from various angles now. There's no "hype" in the book, no agendas, no further products or services to buy being pitched to you, just plain vanilla (ok, french vanilla) basics being laid out for you in textbook fashion for you to digest in your own terms. I like that - it's refreshing in a way. It is probably like this because it was really written 20+ years ago (don't worry, it's been revised many times to be modernized - 5th edition, 1993). The book was originally written and printed in "Commodities" magazine as a popular mini-course series (before the magazine changed it's name to the modern "Futures" magazine we know it as today). Even though I knew much of the content from personal experience (the most costly way) or from other readings, my CTA, etc, I did not always understand the "why" behind the rules I was following & how the markets work the way they do from both a technical and fundmental perspective (dynamics). Of the some 28 chapters, I really took interest in almost every one. I can't say that about most of the other trading books I've read. Put it this way... if I could keep only 5 trading books, this would be one of them. You'll likely dump more than that on the commissions for 1 trade - or, worse yet, even more than that on 1 bad trade. ** Beginners, I recommend the following: If your goal is to have deeper pockets from trading - then you must first go deeper in your understanding of futures markets & trading them (i.e. Read the book).

12 of 16 people found the following review helpful:

4.0 out of 5 stars Buy the updated version!!, May 11, 2001

By	Javier Dominguez (New York, NY USA) - See all my reviews (REAL NAME)

This review is from: Start Out In Futures Trading: Updated and Expanded (Paperback)

Please note: This review refers to the 1991 edition.

It is a good book, but this edition is plagued with typos, and mistakes in at least one chart. Don't make the same mistake I did; buy the last edition (I bought mine on the store with very little time ...) I haven't had the chance to check out the latest version (Starting Out in Futures Trading), my guess is that it's corrected and updated.

About his writing, I like the fact that he mixes personal experience with academic and corporate studies about the market. I think the book becomes very useful that way.

0 of 1 people found the following review helpful:

5.0 out of 5 stars All you need to know about futures markets..., January 25, 2009

By	R. Pawlikowski (Poland) - See all my reviews (REAL NAME)

This book definitely provides a lot of information regarding futures. It is the best reference book on futures that I have ever read.