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Product Description
A guide leading the reader through the markets and strategies to become proficient at commodity futures and options trading. Outlines various methods designed to help the reader spot profitable market patterns, and provides insight into the mind of the professional commodities trader. ... Read more

Customer Reviews (6)

A good trading book for beginners
I do agree with the comment of a reviewer anonymous that this book should be titled "Commodity Trading for Dummies". Well, if I wear the hat of a pro, this book is far from compleat. However, for those who have less than a year's experience in trading or investment, and would like to know enough not to go broke, this book suits them well with trading psychology, strategies (futures and options, though I doubt whether beginners should trade options at all), TA (waves, moving averages and trendlines), some fundamental info about different types of commodities, and common things that a novice needs to know in a well written, easily apprehensible Rule 1/2/3... Step 1/2/3...manner with sufficent number of charts.

As I mentioned above, this book will not help you earn money, but for sure you will lose less. In short, conditionally recommended.

The most useful book on Futures Trading
In my view the best book about commodity trading I have seen so far. Easy to read, and with many examples, it offers an excellent guide for the beginning trader, and a valuable reference source for the experienced.

George Kleinman's vast experience in the markets, enables him to focus in his book on those aspects of trading, analysis, and money management, that really matter to become a successful trader. I trade for quite a few years now, and still take his book to hand regularly.

The stories and anecdotes that George offers us throughout the book would be a reason in itself to buy it, and could only come from somebody who knows the exchange floors.

My favorite book on commodities
Let me preface this with the fact that George and I had a falling out a few years ago and haven't spoken since.

With that said, if you want a solid fundamental understanding of how and why the futures markets work - this is the book for you. George has an uncanny ability to break down the market into vey easy and understandable terms.He even throws in some stories that not only make this an educational read but a fun one.

I really wish this book was around before I studdied for my Series 3.

Kevin Cotter, former publisher of the Cents Financial Journal

PS As to the dummies comment that was made by another reviewer - big words and fancy formulas do not make for substantial portfolios.

Very Basic - Title should be Commodity Futures for Dummies
An extremely basic treatment of futures and options.Hedging strategies explained are inadequate at best with no explanation or regard to the cost of the hedge as it would relate to risk vs. return. Author tries to tell you that if you have an overnight position you should hedge so that you can sleep better. Author also describes the 30 or so different commodity contracts very briefly with no fundamental insight whatsoever. You can get more from looking at the exchange web sites. I recommend that you skim the book in the bookstore and then leave it there !

Excellent Book
This book is very well written and the information is very useful for trading stocks and futures. I am surprised that it doesn't have more reviews. I recently read it and was surprised at how much useful information it has. I guess the best kept secrets are not well advertized! ... Read more

Product Description
Most businesses will face commodity risk in some form. It is how the company manages this risk that will help to determine the success of the firm. In this highly practical book, John J. Stephens explains in a clear concise manner the best techniques for managing such risks. Aimed at the ordinary businessperson, this book is a practical primer for those who wish to manage and minimise the risk to their industry, through instruments such as commodity futures, without wishing to have the technical knowledge of professional financiers.
This book provides the ideal starting point for the good manager not only to minimise commodity risk but to gain benefit also. ... Read more

Customer Reviews (1)

In depth coverage in an easy to follow format
This book saved my ... well, you know what. Working on a software project for a client involving their risk management accounting, I had to get up to speed with that subject, and quickly. This book saved me literally months of Q&A and helped me implement the right solution.

What I liked most about the book is the detailed explanation it gives, it doesn't presume you're familiar with commodity exchanges and vehicles. Some might find it insults their intelligence, but I wouldn't have any other way. If I want to learn about a subject that's new to me, I want a book that makes no presumption about my knowledge or experience, I want a book that will rather elaborate more than necessary than the other way around. And that's what makes this book so great over the others that collect dust on my bookshelf. ... Read more

Product Description
For the first time ever, the winner of the 1995 U.S. Trading Championships shares some of his trading secrets which have made him one of the United States' top commodity brokers. ... Read more

Customer Reviews (5)

Masterly.
Very well written and even entertaining in places, this book has lots of nuts and bolts you won't find in other primers, like the best explanation of First Notice Day and Last Trading Day I've seen anywhere.The sectionon choosing a broker is not very useful, but everything else is.You get agood treatment of Fundamental Analysis in addition to Technical Analysis,and two chapters on moving average systems, which Kleinman considers THEmost valuable trading tools.If you're looking to start trading futures(mastery takes 5-10 years), make this one of the first five books you read.

Enhancing ones chances for winning trades.
An extremely well written primer for the novice and polisher for the expert. An absolute plethora of information and advice for those at any stage of commodity trading. The "bible" for traders.

A must read
WOW. What a powerful, easy to understand book about the whole ball of wax. If you are looking for THE book on Futures and Options, how they work, the reason behind price changes and an easy to understand system to tradinglook no further! A heart felt thanks Mr. Kleinman on a real work of art.

Loved it
Kleinman takes the mystery out of the commodities market. I wish I wouldhave had this book before I attempted my series 3!It would have made theprocess much easier.The NFA should make this required reading.

Excellent strategies- definitely worth picking up
Having read more than 50 books on trading and the markets, it took me by surprise to find so much fresh material in this one.The strategy overviews were great- like the flexibility value of synthetic calls and puts, the use of backspreads to profit from volatile moves, or the correct way to pyramid, to give just a few examples. I've found that a majority of books on trading are either largely autobiographical or else they only cover the same old ground in some form or another (cut your losses, let your profits run, don't get emotional, yada yada yada)- but this one actually offers fresh, workable strategies and valuable insights. If you trade, or are thinking about trading, definitely pick this one up. ... Read more

Product Description
This book aims at explaining the complex subject of futures and options in the simplest form. All the basics of futures and options are explained with easy to understand practical examples, which would be easy to grasp. The topics of the book progress from basics to complex ones. This would help the reader to learn the concepts in a systematic manner. Care has been taken to ensure that while avoiding complex mathematics, useful formulae are not omitted. Several examples, end of chapter quizzes and exercise for practice would serve as a useful test for the reader. Whoever's learning Futures & Options would find this book useful. While a student would find the theoretical formulae, examples and exercises useful, a practitioner would find the illustrative examples more relevant. New chapters in this edition, namely, Futures Price Trends and Volatility, along with Options Trading Strategies and Skills would be extremely useful to derivatives traders. A separate chapter on commodities markets would help every student and amateur commodity trader. This book is highly recommended for all students, trainees, professionals, traders, stock brokers, fund managers, financial advisors and consultants. It will be a useful text for all courses and syllabi which has futures and options as one of the topics. It would also serve as a useful reference material at all the training centers teaching futures and options. ... Read more

Product Description
An analysis of futures and spot price volatility ofagricultural commodities including an assessment,from a social welfare perspective, of a Mexican- Government-Futures-Scheme (ASERCA futures-scheme)were conducted in this research project. Theagricultural commodities under study were corn andwheat. For the volatility analysis an implication ofthe theory of storage and the Samuelson effect weretested using a restricted version of the BEKK model.The storage implication is that supply-and-demandfundamentals affect the price volatility ofcommodities whereas, for the Samuelson effect, spotprices are thought to be more volatile than futuresprices. The same model estimates were then comparedto option implied volatility and composite forecastmodels in order to find out which is the best modelin terms of forecast accuracy. For the socialwelfare analysis a utility function and a non- structural model (VAR) were used in order toquantify the overall gains for the Mexican economyof the ASERCA futures scheme. ... Read more