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- Product code: 3684
- ISBN: 0786308397,
ISBN13: 9780786308392,
171 pages, hardback
Published by Irwin on 1996
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Description of The Intelligent Speculator |
Without knowledge, trading commodities is just like gambling. Eventually, most go-for-broke commodity speculators will make one too many wrong calls and go broke. While gambling is more exciting, what is instead required to consistently profit from all the market conditions is knowledge, confidence in one's chosen system and, most importantly, market intelligence.
The Intelligent Speculator: A Unique Approach to Trading Commodities introduces and explains interval trading, a unique system of commodity speculation which blends the widely accepted trading and oscillatory (sideways) techniques. Interval trading allows you to choose a point somewhere near the bottom, regardless of the side. Since you are required to precisely predict neither market tops nor bottoms, nor when they will occur, you can be confident that the next price rise will be locked in.
Readers with little or no experience trading commodities will welcome the detailed explanation of the mechanics of commodity trading, while seasoned traders will move directly to descriptions of interval trading and its techniques, including real-market examples of the profitable results of interval trading on a number of commodities. Additional chapters on drawdown, rollovers, and the 'sell-buy' system further illustrate how you can provide more profits at lower risk by bridging the gap between sideways and trend-following methods.
Don't miss the next profitable price run just because you couldn't predict the bottom. Read The Intelligent Speculator, gain a keener insight into the complexities of the commodity market, and through thoughtful and intelligent speculation as opposed to brash and emotional speculation, begin today to profit every day from interval trading in the commodity market.
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Contents of The Intelligent Speculator |
1: Speculating in Commodities
Risk and Speculation
Trading Systems
Commodities to Trade
Interval Trading versus Scale Trading
2: The Mechanics of Commodity Speculation
The Contract Markets
Your Account and Margin
Commodity Futures Are Highly Leveraged Investments
Where to Get Commodity Prices
How to Read Price Quotations
Charts - The Graphical Presentation of Commodity Prices
Natural Movement of Commodity Prices
Predicting Commodity Price Movements
The Basic Trading Strategies - Going Long and Going Short
3: Interval Trading: An Introduction
The Price of a Major Commodity Will Not Go to Zero
Interval Trading - The Basic Idea
Application of an Interval Table to a Real Market
Drawdown
Oscillation Profits
Is Interval Trading the Same as Averaging Down?
4: Drawdown
Margin
Drawdown
Calculation of the Drawdown
Drawdown Depends upon the Interval
5: The Principal Variables in Interval Trading
The Upper Trading Level Defined
The Optimum Upper Trading Level
The Upper Trading Level: Historical Analysis
Upper Trading Level: Final Adjustment
Selecting the Interval
6: Rollovers
An Example of Rollovers
How to Handle Rollovers
Overview of Rollover Strategy
An Immediate Rollover of a Single Contract
An Immediate Rollover of Multiple Contracts
Deferred Rollovers
7: The Sell-Buy: More Profits at Lower Risk
The Sell-Buy Strategy
Why Sell Then Buy? Why Not Just Hold?
Further Consideration of the Sell-Buy Strategy
Summary of the Sell-Buy System of Interval Trading
Practical Aspects of Interval Trading
8: What Can Go Wrong?
How You Can Lose Money in Interval Trading
Don't Start Interval Trading at Too High a Price
Don't Bunch Your Trades Near the Upper Level of Trading
Don't Use Too Small and Interval
Imprudent Rollovers
9: Brokers, Pool Operators, Trading Advisors, and Money Management
Commodity Brokers
Commodity Pool Operators (CPO)
Commodity Trading Advisor (CTA)
Managed Money and Portfolio Diversification
10: Examples of Interval-Traded Markets
Summary of Results
Orange Juice
Wheat
Crude Oil
Gold
Live Hogs
11: Intelligent Commodity Speculation
Adequate Capital
Diversification
Interval Trading
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