In Intelligent Futures Trading, career trader Chick Goslin spells out the momentum-driven trading techniques that form the cornerstone of his personal market approach. His Momentum Method accurately anticipates the direction and duration of imminent new “breaking” price moves by closely analyzing how quickly (or how slowly) price is changing in a market.
No much fluff here… Chick lays it all out on the line, explaining how to make, lose, and not lose your fortunes in futures. He will try to scare the timid/weak at heart beginners off in the beginning chapter, but after that it’s all good. Personally, in following his learned from experience stretegies, I have been profitable. When I forget the “rules” taught in the book and play from the cuff eventually I find myself getting burned for half of what I’ve made, which is very frustrating, but part of the learning curve. I find myself re-reading sections of the book over-and-over trying to absorb into my cells the wisdom he professes – particularly pages 55-58 (Money Management) & pages 77-80 (Trading). Good value in this book, a lot more practical than many of the other older books out there or some of those from the “market gurus.” Chick is a real trader like me, and that helps me relate/respect his experience and advice. Give it a go! Good luck trading.
So what is trading?
Trade involves the transfer of goods or services from one person or entity to another, often in exchange for money.
Economists refer to a system or network that allows trade as a market.
An early form of trade, barter, saw the direct exchange of goods and services for other goods and services.
Barter involves trading things without the use of money. When either bartering party started to involve precious metals,
these gained symbolic as well as practical importance. Modern traders generally negotiate through a medium of exchange,
such as money. As a result, buying can be separated from selling, or earning. The invention of money (and later of credit,
paper money and non-physical money) greatly simplified and promoted trade.
Trade between two traders is called bilateral trade, while trade involving more than two traders is called multilateral trade.