Best Book on Futures Trading for a Beginner?
Wednesday, April 23, 2008
by Howard Tyllas of www.farmerhedge.com
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Question: What do you think is the best book on futures trading for a beginner? I am very interested in grain futures so any input would be greatly appreciated. Thanks, Greg Answer: Hello Greg, I will tell you that barchart.com futures 101 is a great place to start and should keep you busy for quite awhile. here is the link: http://www2.barchart.com/support/futs101.asp For options: http://www2.barchart.com/support/opts101.asp When I was a new member and hungry to learn as much as possible in the shortest amount of time, I was lucky to have the Chicago Public library near the exchange floor and later the CBOT's members library to find and get books and publications. I found out that if I had the name of the book and it was not in the Chicago library system, they would order it from the State library. The reason being is that until you look at what's under the cover, you will not know if it is too advanced or material you are not interested in and you have a mountain of books, spent money, and got little from them. When you find a book that fits, and you want to keep it instead of renewing it, then order it online and buy it. Enjoyable reading with insights to mindsets are Reminiscences of a Stock Operator (Jesse Livermoor) and Jack Swaggers books on Market Wizards. (get them from the library, easy read) Finally after you have your feet on the ground, you should just continue to be an observer and student forever and make change when needed, isn't that a part of a good life too? Sincerely,
Howard Tyllas
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About the author
Currently a member of The Chicago Board of Trade (CBOT) and registered with the Commodity Futures Trading Commission (CFTC) as a floor broker and as a Commodity Trading Advisor (CTA). I am the President of Futures Flight, an Introducing Broker (IB) for MF Global, and a member of the National Futures Association (NFA). I started my career in 1973 on The Chicago Mercantile Exchange trading floor working for a major firm. Three years later I purchased my first membership and began what would become a thirteen-year commitment to trading soybeans for my own account on the trading floor. I began trading options on futures since their inception in Chicago about twenty years ago; doing so, I traded in various pits on the trade floor. I day traded from 2000-2002 for Schoenfeld Securities (a major proprietary trade firm), and then continued to trade at Sheppard Int. for Jump Trading, LLC. I concentrated on the emini S&P and NASDAQ, trading them “upstairs” on a screen. One of the major lessons that I have learned from all my years of experience is that knowledge is an important condition for the possibility of successful trading. Knowledge gives you a better chance to succeed by eliminating obvious mistakes: with it, you will never find yourself shamefully uttering, “If I only took the time to learn”.
I want to save you from such regrets by teaching you where the danger is, what it looks like, and how to go around it, while still keeping an eye on your destination of success. In short, I will teach you how to combat error with knowledge.
My mission is to educate you, giving you my 34 years experience, wisdom, and knowledge from which you will then be able to use and benefit from at will. For you, I will be a personal trainer, coach, mentor, overseer, market strategist, consultant, and advisor. I know what will help you make money, and I know what will insure failure. Use my services and prevent, “If I only knew”.
Howard Tyllas Futures trading involves the substantial risk of loss and may not be suitable for all investors. Past performance does not mean future results. If you have a question, or comment, email me howardtyllas@howardtyllas.com Visit my website www.farmerhedge.com http://www.howardtyllas.com http://www.futuresflight.com
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