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Futures 101 : An Introduction to Commodity
Trading (1999 Edition) Reviewer: A reader from Suburban Chicago A great book to start out with. The first few chapters were a bit basic, however the meat of the book is in the middle chapters. It offers great unbiased, factual information. While this book alone is not strong enough to start trading on, it lays the perfect foundation to build from. Definitely recommended for the beginning trader/speculator |
Futures are obligations to buy or sell a specific product,
like wheat, oil, pork bellies, on a specific day for an agreed
upon price. Trading futures brings traders together to transfer
risk associated with ownership of a commodity or a service. No
property rights to a physical commodity change hands at the time
the futures contract is entered into. Futures use margin heavily,
usually between 2 - 10 percent of a contract is required at time
of purchase.