Futures 101 : An Introduction to Commodity Trading (2000 Edition)

Gives a basic overview of commodities trading, explaining why futures contracts exist, the difference between market price and contract price, and how contracts are prices, as well as defining terms such as longs, shorts, ticks, and limits

I am pleasantly surprised and gratified by the interest and sales of FUTURES 101. Too many people lose money when trading and the main reason may be ignorance of how the system works. And the dangers involved. I am not associated with any brokerage or anyone in the futures business other than as a client, and when I first traded commodities some years ago I could not find a beginners book that explained things comfortably to me. The very few available were too technical or too abrupt and left me confused or unsatisfied. Later after some years of trading with mixed results I remembered the difficulties encountered in the beginning and since I had learned a fair amount about trading by trial and error, I decided to write a short explanation booklet to benefit others. I also wanted to write it in a style that would not put the reader asleep. The more I wrote the more I found needed to be covered and the result was a full book that has found an international sales niche, much of it through referrals. In summary, it was fun to write and I hope it benefits those looking to understand futures trading.

Dick Waldron