|
In Section II, Trading Skills, I explore how to read the market. My approach to trading evolved through my experience as a floor trader on LIFFE (London International Futures and Options Exchange). Working as a local (independent floor trader) gave me the opportunity to immerse myself in this business, trading 100's of times a day, 5 days a week. Over time I have developed my understanding of how the markets work and what causes the price to move. My message is deceptively simple and when fully grasped will lift a veil from before your eyes that will enable you to make sense of the seeming random nature of price movement. I hope that you enjoy reading this book and welcome any comments and feedback. Contents Welcome A prelude: What I learned losing 60,000 Section I Futures Trading Chapter 1: Introduction Chapter 2: The Futures Market Chapter 3: Practicalities Of Futures Trading Chapter 4: The Mechanics of the Trade: Orders Chapter 5: A Direct Access Trading Screen Section II Trading Skills Chapter 6: Market Forces Chapter 7: Bar Charts Chapter 8: Volume Chapter 9: Trends Chapter 10: Reading the Current Price Chapter 11: Executing Trades Chapter 12: Money Management Appendix : Market Master User Guide 5 A prelude What I learned losing 60,000 my first year as a full-time trader During my first year as a local (independent trader) on the floor of LIFFE, I bought and sold 8804 FTSE futures contracts, about 40 contracts per day on average. The result was a loss of 61,620 or - 267 per trading day. I was profitable on 55% of days with an average gain of 1009, my average losing day was - 1780. My biggest one-day gain was 7730 and my biggest loss - 12,426. |
|
