|
Foreword |
ix |
|
Preface |
xi |
|
About the Contributors |
xiii |
| Chapter 1 |
Futures: The Investment for the Twenty-First Century |
1 |
|
Historical Roots |
2 |
|
What Futures Are |
2 |
|
What Futures Are Not |
4 |
|
Who Trades Futures? |
9 |
|
Making Your Choice |
11 |
| Chapter 2 |
Becoming a Futures Trader |
13 |
|
Trading Decision Issues |
14 |
|
Fundamental Analysis Highlights |
18 |
|
Technical Analysis Highlights |
25 |
|
Putting It All Together |
56 |
| Chapter 3 |
Trading with a Broker as a Partner |
59 |
|
What a Broker Can Offer |
59 |
|
Options versus Futures |
65 |
|
Market Should Fit Strategy |
66 |
|
Paper Trading, Back-Testing |
67 |
| Chapter 4 |
Letting the Pros Trade Your Account |
69 |
|
Why Managed Futures? |
70 |
|
Where Do You Start? |
74 |
|
Evaluating Trading Programs |
76 |
|
Investing in Managed Futures |
80 |
| Chapter 5 |
Using an Auto-Executing Trading System |
83 |
|
Why an Auto-Executing Trading System? |
83 |
|
Look at Yourself First |
85 |
|
What to Look for in a Trading System |
86 |
|
Why "Successful" Systems May Fail |
88 |
|
Summing up Systems |
89 |
| Chapter 6 |
Resources for the Self-Directed Trader |
91 |
|
Brokerage Firm Choice |
91 |
|
Trading Platform |
93 |
|
Trading Support Tools |
95 |
|
Match Resources to Your Needs |
98 |
| Chapter 7 |
Knowing Your Margins and Marching Orders |
99 |
|
Trading on Margin |
99 |
|
Order Types |
101 |
|
Placing Orders |
108 |
|
Tips about Trading Mechanics |
110 |
|
Connectivity Issues and Questions |
113 |
| Chapter 8 |
Futures: Diverse Markets You Can Trade |
115 |
|
Equity-Based Futures |
117 |
|
Financial Instruments |
122 |
|
Commodities |
127 |
| Chapter 9 |
Options on Futures: A Flexible Trading Tool |
139 |
|
Issues to Consider When Investing in Futures Options |
140 |
|
Mechanics of Futures Options |
144 |
|
Basic Futures Options Strategies |
151 |
| Chapter 10 |
Forex: Another Opportunity for Traders |
167 |
|
What Is the Forex Market? |
167 |
|
Exchange Rates and Central Banks |
171 |
|
The Trading Instrument |
172 |
|
Spot Market versus Futures Market |
176 |
|
Electronic Trading |
177 |
|
Costs of Trading |
178 |
| Chapter 11 |
Deciding to Trade |
181 |
|
The Money Factor |
181 |
|
Time for Trading |
183 |
|
Knowing the Market |
183 |
|
Who Are You? |
183 |
|
Your Trading Plan |
184 |
|
Picking a Brokerage Firm |
186 |
| Chapter 12 |
Opening an Account |
189 |
|
Opening Account Information |
190 |
|
Risk Disclosures |
190 |
|
Type of Account |
192 |
|
Power of Attorney |
193 |
|
Customer Identification (Patriot Act Requirements) |
193 |
|
Single-Stock Futures |
193 |
|
Account Funding Requirements |
194 |
|
Margin Calls |
194 |
|
Resolving Disputes |
195 |
| Chapter 13 |
The Tax Factor for Traders |
197 |
|
Section 1256 Contracts |
197 |
|
How to Report Gains or Losses |
199 |
|
Special Considerations |
201 |
| Chapter 14 |
The Business of Futures: Who Does What |
203 |
|
Regulatory Structure |
203 |
|
Futures Exchanges |
205 |
|
Clearinghouses |
205 |
|
Futures Industry Professionals |
207 |
| Appendix A |
Domestic and International Futures Contract Volume |
211 |
| Appendix B |
Futures Contract Specifications |
251 |
| Appendix C |
Speculative Margins |
269 |
|
Glossary |
273 |
|
Index |
289 |