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Tables of Contents for How the Futures Markets Work
Chapter/Section Title
Page #
Page Count
Introduction What This Book Can Do For You
1
1
The Fastest Game in Town
1
1
Why Trade Futures?
2
2
Preliminaries
4
3
The Journey Ahead
7
12
Myths and Misunderstandings
8
4
Commodity Trading versus Gambling: Comparisons and Contrasts
12
4
Realities and Necessities of Risk and Reward
16
3
Beginning with the Basics
19
26
Definition of a Futures Contract
23
1
What Is Risk Transfer and Why Transfer It?
24
2
Market Participants
26
1
Price Risk
27
5
Regulation of the Futures Industry
32
4
Trading the Futures Contract
36
5
What Is a Hedge?
41
3
Essential Elements for Profitable Trading
44
1
The Modern Futures Exchange
45
12
Management and Organization of the Exchange
48
4
Defining a ``Cleared'' Trade
52
1
The Role of the Exchange in Futures Trading
53
1
The Elements of Futures Trading at the Futures Exchange
54
3
Life on the Trading Floor
57
12
The Pit
59
5
Layout of Trading Floor
64
1
How an Order Is Filled
65
1
The Bid and the Offer
66
1
How Prices Reach the Quote Board
67
1
Electronic Trading
68
1
The Variety of Futures Markets
69
12
Proliferation of Futures Markets
71
4
An Overview of Market Sectors
75
3
A 24-Hour Worldwide Market
78
3
Getting Started in Trading Futures
81
44
Choosing a Broker
81
11
Opening an Account
92
2
Elements of a Trade
94
5
Placing an Order
99
9
Day Trading, Short-Term Trading, and Position Trading
108
4
Futures Options Trading
112
9
Market Analysis
121
1
Technical versus Fundamental Trading
122
3
Hedging with Spreads
125
22
Spreads and Straddles
128
3
Trading Spreads
131
4
The Seasonal Spread
135
4
Sample Spread Charts
139
5
Spread Entry and Exit
144
3
Fundamental Analysis
147
16
Supply and Demand
148
2
Market Reports
150
1
Seasonality
150
4
Cyclic Price Changes
154
4
Secular Trends
158
1
Other Forces and Factors Affecting Commodity Prices
159
2
Price Analysis
161
2
Technical Analysis: Chart Patterns
163
28
The Wave Theories
164
1
The Bar Chart
165
4
The Point-and-Figure Chart
169
2
Candlestick Charts
171
1
Gann Charts
172
3
Trends
175
5
Reversal Patterns
180
11
Technical Analysis: Timing Indicators
191
30
Moving Averages
192
16
Stochastics
208
2
Cycles
210
1
Momentum and Rate of Change
210
1
Key-Date Seasonals
211
1
Market Sentiment Indicators
211
1
Wilder's Relative Strength Index
212
3
Oscillators
215
2
Volume and Open Interest
217
2
Fibonacci Number Series
219
2
Managing Risk
221
10
Preservation of Capital
222
1
Maximization of Capital
222
1
Profit Dispersal
223
1
Loss Management
223
2
Stop Losses: Double-Edged Sword
225
6
Computers and Electronic Trading
231
12
Trading Hardware: How Much Computer Power Will You Need?
231
2
Software Decisions
233
3
Live Market Data
236
4
Historical Data: Access, Storage, and Retrieval
240
3
The Psychology of Investing
243
18
The Behavior of Traders
243
4
Mastering the Psychological Aspects of Commodity Trading
247
3
The Paradox of Discipline and Emotion
250
5
Winners and Losers
255
4
What Do Traders Really Want?
259
2
Trading Strategies and Systems
261
16
Developing a Trading Strategy
262
1
How to Develop a Systematic Approach to Trading
263
4
How to Choose a Trading System or Methodology
267
2
Alternatives to Being an Active Trader
269
8
Making the Futures Market Work for You
277
8
How to Improve Your Odds of Success as a Trader
278
2
The Facts of Market Life
280
5
Appendix I References and Reading List
285
4
Appendix II Contracts Traded
289
20
U.S. Futures Contracts Traded
289
4
International Futures Exchanges Traded
293
16
Glossary
309
13
Index
322