There are many benefits of futures trading, but it’s not something you should dive into without a high level of knowledge and understanding of the markets.
While there’s no shortage of websites, blogs, and online resources, don’t rely solely on the internet to guide your investing decisions. Instead, you should also read as many books on futures trading as you can find.
Below, we outline a handful of the best futures trading books, all of which provide in-depth knowledge and guidance for beginners and advanced traders alike.
1. Futures 101, Richard E. Waldron
It’s one of the oldest books on futures trading, but also one of the most popular.
Geared toward beginners, it doesn’t dive too far into the technical details of trading. Furthermore, it’s neutral in regards to whether or not you should give it a try.
As a book about the basics, it’s best suited for beginners who are wondering if this is an investment strategy for them.
2. Starting Out in Futures Trading, Mark Powers
Despite the name, this book is more advanced than Futures 101. Written by Mark Powers – former chief economist for the Commodity Futures Trading Commission – you can be rest assured that the information is accurate.
Over the years, many editions of Starting Out in Futures Trading have been published, so make sure you read the most recent version.
From choosing a broker to the many different order types, there’s no shortage of information in this book.
3. Fundamentals of the Futures Market, Donna Kline
You won’t feel comfortable with futures trading unless you have a firm grasp of the fundamentals. So, it only makes sense to read the Fundamentals of the Futures Market.
With its interactive approach – which includes checklists and quizzes – you gain all the knowledge you need to dive into futures trading with confidence.
4. One Good Trade: Inside the Highly Competitive World of Proprietary Trading, Mike Bellafiore
Not only does this book have killer reviews, but it’s approach is different than every other one on this list.
Here’s how: One Good Trade focuses heavily on getting into the trading frame of mind, as opposed to the fundamentals. Of course, there’s plenty of guidance throughout, so you’re sure to pick up some tips on how to get started.
5. Technical Analysis of the Futures Markets: A Comprehensive Guide to Trading Methods and Applications, John J. Murphy
Yes, it’s true that this book was published in 1986, but don’t let that scare you away. When it comes to technical analysis of the futures market, John J. Murphy is a leading authority.
There’s more to technical analysis than meets the eye. While it takes firsthand experience to devise a strategy, this book outlines a variety of techniques and patterns for helping you make the best trades.
You only have so much time in your day for reading, but when you do it makes sense to start with one of these five books. For anyone interested in futures trading, all of these offer something of great value.
About Futures Radio Show
Futures Radio is a weekly talk show hosted by 20-year futures veteran and CME member Anthony Crudele, an ex-pit trader and one of the first to trade the E-Mini S&P. Each week Anthony talks with traders, CEOs, and other proven market participants about relevant trading and investing information. Subscribe on iTunes and YouTube.