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Tables of Contents for Profit in the Futures Markets!
Chapter/Section Title
Page #
Page Count
Introduction
1
2
Common Misconceptions about Futures Trading
3
3
Evolution of the Futures Markets
6
4
Origins
6
1
More Recent Developments
6
1
The Single Stock Futures Market
7
3
What Is Hedging
10
4
How a Hedge Works
10
2
How Do the Players Benefit?
12
2
Why Trade Futures
14
2
What about Risk?
16
1
Additional Uses of the Futures Markets
17
1
Summary
18
3
Part One Getting Started: Myths and Realities of the Futures Markets
Building Blocks and Basics
21
16
Complexity and Simplicity
21
3
Grist for the Mill
23
1
Information: Is Less More?
23
1
Define Your Objectives
24
3
Can You Make the Commitment?
25
1
How Will You Achieve Your Objectives?
26
1
Not a Get-Rich-Quick Scheme
27
4
Take the Test
28
1
Should You Borrow Your Starting Capital?
29
1
Pooling Your Funds
29
1
Attain Your Objectives by Stages
29
1
Bank Some Profits
30
1
Other Important Issues
31
4
Should You Trade Alone or with a Partner?
31
1
Should You Trade for the Short Term, Long Term, or Intermediate Term?
32
1
Should You Take a Fundamental or a Technical Approach to Market Analysis?
33
1
How Much Risk Do You Want to Take on Each Trade?
33
1
Selecting a Broker
34
1
Are Futures Options Your Answer?
35
1
Summary
35
2
The Two General Approaches: Fundamental vs. Technical Analysis
37
14
Does Your Analytical Approach Really Matter?
37
1
Fundamental Analysis
38
7
Supply and Demand
39
1
Economic Roots
39
1
Some Shortcomings of Fundamental Analysis
40
2
Its Value in Spite of the Limitations
42
1
The Pragmatics of Fundamentals
43
2
Technical Trading and Analysis Systems
45
3
Technical Analysis and Short-Term Trading
46
1
Some Limitations of Technical Analysis
46
1
Advantages of Technical Analysis
47
1
Hybrid Approaches to Market Analysis
48
1
What's Best for You?
49
1
Summary
49
2
What You Should Know About Trendlines
51
12
Trading Using Trendlines
55
6
Trendline Trading Rules
58
3
Using Trendlines on Intraday Data
61
1
Summary
61
2
What You Should Know About Cycles
63
14
What Is a Cycle?
64
4
Many Markets, Many Cycles
68
1
Trading Using Cycles
68
1
Timing Indicators
69
3
Variability of Cycle Lengths
72
1
Intraday Cycles
72
2
Cycle Trading Rules
74
1
Limitations of Trading with Cyclical Indicators
75
1
Summary
75
2
What You Should Know About Moving Averages
77
12
How Moving Averages Give Buy and Sell Signals on Price Charts
78
5
Pros of Using Moving Averages
83
1
Cons of Using Moving Averages
84
1
Rules for Trading Using Moving Averages
84
1
Performance Histories
85
3
Summary
88
1
What You Should Know About Seasonality
89
22
Time Frames for Seasonals
89
1
Cash Seasonality
90
1
Seasonal Price Tendency Charts
91
4
Seasonality in Futures Prices
95
2
Daily Seasonal Futures Tendencies
97
1
Seasonality in Futures Spreads
97
2
Key Date Seasonals
99
2
Implementing Seasonal Trades
101
8
Summary
109
2
What You Should Know About Computers and Computerized Trading Systems
111
18
Reinvent the Wheel?
112
1
Computerized Quote Systems
112
1
Pros and Cons of Trading Systems
113
1
Buying versus Developing a Trading System
114
2
Questionable Ethics and Questionable Results
116
4
Fallacy of the Vast Historical Database
117
1
The Selective Data/Selective Market Trick
118
1
What's the Drawdown?
118
1
Stable versus Unstable Systems
119
1
Dealing with Limit Moves
119
1
Computerized Testing of Trading Systems
120
4
Why Test a Trading System?
121
1
Test for Key Results
122
2
Summary
124
5
Part Two Discipline and Trading
Discipline: Your First Key to Success
129
10
What Is Discipline?
129
1
Why Discipline Is Important in the Quest for Success
130
2
Doing Your Homework
132
1
How Lack of Discipline Can Become a Chronic Problem
133
1
How to Improve Your Discipline
134
2
The Self Evaluation Checklist
136
1
Summary
137
2
The Art of Contrary Thinking
139
10
Reality, Economics, and Prices
140
1
What Is Contrary Thinking
140
1
Quantification
141
5
Daily Sentiment Index
146
2
Theory of DSI
146
1
Guidelines for Using DSI
147
1
Commitments of Traders Reports
148
1
Summary
148
1
How to Trade Like a Pro
149
20
Attitudes and Behavior
149
3
Why Traders Fail
152
1
How to Identify Incompetence
152
2
How to Overcome Weaknesses
154
4
Tools for Successful Trading
158
7
Summary
165
4
Part Three The Mechanics of Trading
What You Should Know about Market Information Services and Brokers
169
12
Why Use a Service?
169
1
Types of Market Information Services Available to Futures Traders
170
6
Information Services
170
2
Advisory Services
172
1
Evaluating an Advisory Service
173
3
What Type of Trader Are You?
176
1
Finding a Broker
177
2
Full-Service Brokers
178
1
Discretionary Accounts
178
1
Discount Brokers
178
1
Online Brokers
178
1
Summary
179
2
What You Should Know About Order Placement
181
10
Traditional Order Entry and Execution
181
2
Online and Electronic Order Entry
183
2
Market Order
183
1
Market-on-Close (MOC) Order
184
1
Market-on-the-Open Order
184
1
Market-If Touched (MIT) Order
185
1
Stop Orders
185
1
Buy Stop
185
1
Sell Stop
185
1
Stop Loss
185
1
Fill or Kill Order
186
1
Good-Till-Canceled (GTC) Order/Open Order
187
1
Different Rules at Different Exchanges
187
1
Things Change
187
1
Summary
188
3
Part Four Advanced Trading Strategies and Techniques
Advanced Concepts in Moving Averages
191
12
Moving Average Methods
191
2
Simple Moving Average
192
1
Weighted Moving Average
192
1
Exponential Moving Average
192
1
Triangular Moving Average
193
1
Best Performing Moving Averages
193
1
The Mewing Average Channel (MAC)
193
3
The 3 High/3 Low Moving Average Channel for Short-Term Trading
196
6
Summary
202
1
Aspects of Intraday Trading
203
10
Advantages of Intraday Trading
203
2
Prerequisites to Intraday Trading
205
1
Using Price Objectives and Stop Losses
206
1
Using Price Objectives
207
1
Using Trailing Stops
207
1
Systems for Intraday Trading
207
4
``The Old Standbys''
207
1
The Tick Chart Method
208
3
Books and Seminars
211
1
Websites and Chat Rooms
212
1
Summary
212
1
Are Futures Options Right for You?
213
8
Twice Removed
213
2
Many Ways to Go
215
1
Advantages of Futures Options
215
1
Liabilities and Limitations of Futures Options
216
1
Strategies for Using Options
217
3
Summary
220
1
Artificial Intelligence and Neural Networks: Myth or Messiah?
221
6
Artificial Intelligence
221
1
Characteristics of Neural Networks
222
1
Neural Networks and Trading
223
1
Summary
223
4
Part Five Putting It All Together
Developing Your Own Trading Plan
227
8
Begin by Listing Your Limitations
228
1
List Your Goals
229
1
Be Realistic
229
1
Choose Your Trading System
230
2
Plan Your Time and Make a Schedule
232
1
Evaluate Your Progress Regularly
233
1
Summary
233
2
Managing Risk: A Major Key to Success
235
6
Keep a Trading Record
236
1
Study the Record Regularly and Frequently
237
1
Learn from Your Profits
237
1
Calculate How Much Capital You Should Risk
238
1
Use Stop-Loss Orders
238
1
Don't Overtrade
238
1
Stand Aside When You re Confused
239
1
Don't Take Losses Personally
239
1
Know Your Competition
240
1
Summary
240
1
Afterword
241
2
Glossary
243
12
Index
255
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