Even though futures trading comes with several advantages, getting started in the industry requires a significant amount of market expertise and familiarity before you can reap its full rewards.
Although there is no shortage of websites, blogs, or other online resources, you shouldn’t make all of your investment decisions based entirely on what you find on the Internet. Instead, you should also make it a point to read as many books as you can get your hands on that are related to trading futures.
Top 6 – Best Books For Futures Trading
In the following post, we will discuss a selection of the best futures trading books, which offer comprehensive information as well as direction for traders of all experience levels.
Futures 101 – Richard E. Waldron
Not only is it one of the most well-known publications on the subject of futures trading, but it is also one of the first. Because it is aimed at inexperienced traders, it does not delve too deeply into the more technical aspects of trading. In addition, it makes no recommendation either way on whether or not you should give it a shot. Because it covers the fundamentals, it is most helpful for novices who are pondering whether or not they should pursue this type of investing approach.
Getting Started In The Futures Trading Industry – Mark Powers
Since this book was written by Mark Powers, who long served as the head economist for the Commodity futures trading commission in the past, you may have peace of mind knowing that it is true.
However, it’s advised that you go through the most recent edition of “Getting Started” in futures trading since throughout the years, there have been many different versions of the book released. This book has a wealth of knowledge, covering topics such as selecting a broker and the many various types of orders available.
The Core Concepts Underlying The Futures Market – Donna Kline
Unless you have a solid understanding of the basics, you won’t be able to trade futures in a way that makes you feel comfortable. Therefore, it is necessary to educate yourself on the fundamentals of the futures market. You will acquire all of the knowledge you need so that you can confidently enter the world of best types of trading in futures thanks to its interactive method, which includes both checklists and quizzes.
One Good Trade: Inside The Highly Competitive World Of Proprietary Trading – Mike Bellafiore
Not only does this book have outstanding reviews, but its methodology is also distinctive in comparison to those of the other titles on this list. This is how it is done: as opposed to focusing on the basics of trading, “One Good Trade” places a significant amount of emphasis on developing a trading mindset. Naturally, there is a lot of direction throughout the whole thing, so you may likely pick up some pointers on how to get started.
Technical Analysis Of The Futures Markets: A Comprehensive Guide To Trading Methods And Applications – John J. Murphy
Do not be put off by the fact that this book has been around since 1986. Nevertheless, this book by John J. Murphy is a must-read for anyone into margin trading or futures trading. In fact, John J. Murphy is widely regarded as one of the foremost authorities in the field of technical analysis of the futures market.
A cursory look won’t tell you everything there is to know about technical analysis. Even though you can’t create a plan without firsthand experience, this book will walk you through a range of strategies and patterns that will assist you in making the most profitable transactions.
Following The Trend: Diversified Managed Futures Trading – Andreas Clenow
This futures trading book is an invaluable resource for anybody wishing to start their funds. It is highly instructional, statistical, and written by an experienced futures fund manager. On the fundamentals of diversified trend following, it offers fine-level information. With both good and bad trends, it might be portrayed as a possible roller coaster ride.
You must have consistently seen a set of hedge funds or exotic goods that outperformed in a wide range of volatility and circumstances. The traders’ private trading algorithms and techniques will never be made public. This book will demonstrate such trading techniques and how they are used using very straightforward models. Commonly known as CTAs, these traders are most commonly known as cross-asset future managers.
There is only so much time in the day that you can devote to reading, but if you do find yourself with some spare minutes, it makes the most sense, to begin with one of these six books. All of these have something to give that is of tremendous value to anyone interested in futures trading.