Customer Reviews

Trading Futures For Dummies

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

 

 

Unfortunately, this is the worst financial and "For Dummies" book I've ever read, and I've read many. I trade options, but thought I'd try to learn a little bit about futures, and figured this would be a good starting point. Boy was I wrong.

For starters, a critical aspect of a futures contract is its expiration date - the author spends zero time discussing how, for a given asset (e.g., wheat), which contract expiration date should be chosen. The only useful information is the classification and definition of different types of futures (stocks, commodities, etc.). Even the simple intuitive concept of the convergence of a future's price to the spot price, as the expiration approaches, is not mentioned. The lack of such fundamental details is horrifying.

The author also discusses economic reports and technical analysis which, while not being the reason I bought the book, could be useful in trading futures. However, even here the author does a poor job. Indicators are discussed before they are defined, and even when their definitions are included, they are brief and unclear. Many indicators that the author discusses are never even defined. I had to go to wikipedia to learn what the author was talking about.

Finally, as I started writing this review, I noticed that the author had written his own 5-star review of his own book (one of only three 5-star reviews). Inexcusable, I think, and horribly unprofessional.

Avoid this book (and author).

I got what I wanted and expected from this book, particularly as a new trader. It's a classic "for Dummies" style work and was well employed here. Maybe a bit too smart at times for beginners, but that's preferable to being less than comprehensive. I would totally recommend this one. In fact, I wouldn't trading unless I read it first.

I feel that perhaps the readers who have criticised this book very harshly simply expect way too much from a trading book. A trading book will never have information on how to make billions otherwise the author would not be bothered about writing such a book and would just be trading. If you look at my other reviews (so far mostly "for dummies books") I write that they give you an over view of the subject and alert you to the risks and rewards of trading and the mechanics of how trading works. I actually read the whole book and found it fairly interesting. The book is ideal for giving a solid introduction to the futures markets because many books simply aren't around that do that.

I am a ground level starter. I have been reading books on how to get into day trading. This book was a little over my head. It did contain a lot of good information though. It is probably best for some one that has a little futures knowledge.

From the author:

Perhaps if the line in question by Dr. Strat is viewed in the proper context, the notion that I am "showing off" may be clarified. The entire pararagrpah, at the bottom of Page 63, states:

"There are two basic reasons to choose options as a trading vehicle. One is that you have limited amounts of money and want to trade. And the other is that you are looking to combine leverage while limiting your risk. The second choice is the most sensible of the two, as it takes a lot of talent to turn a little money into a large amount by using options, although it can be done if you're clever and talented. But if you could do that you wouldn't likely be reading this book."

To be sure, I might have said it in a better way. But the object of the sentence was to drive the point home that trading is difficult and that hitting home runs as a trader is not simple. I hope this clarifies the issue. As an author I have too much respect for the audience to insult them. And as a trader, I've been humbled too many times to be a show off. If I was a billionaire options trader then I wouldn't have to write trading books for money.

Joe Duarte

The author, even though seems to have mastered the subject, lets himself, the book and his readers down by an obvious need to show off (quite surprised to be honest as I haven't come across anything like it in the rest if the ...for Dummies series).
He does not deliver in an easy going way his points and comments like "If you were that clever you wouldn't be reading this book" are simply bad business...
Quite disappointed

dr Stratis G Routzounis

This book is very informative. If you are looking for a good start in learning about the futures then this is definately a good book to purchase. It supplies some good basic foundational information that can get you grounded in the awesome profession.

Wonderful book. Received in great condition. Anyone interested in trading futures, this is a perfect start!