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HOW THE FUTURES MARKETS WORK

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Most people know what stocks and bonds are. Many understand how the stock and bond markets work. But people who understand futures contracts and their markets are much less common. This clearly weitten primer introduces the uninitiated to the world of futures, explaining in nontechnical language is products, playen, mechanisms, procedures, tools, and basic hedging and trading strategir Jake Bernstein, the well-known financial writer and acknowledged expert on begins at futures, the beginning
He explains not only what futures contracts are but fit into the overall financial marketplace. He describes sane but also how they all pertinent aspects of the modem futures exchange: identifying and providing basic information on the 11 US future exchanges the foreign ones, explaining the purpose of an exchange, detailing their management and organization, and describing both their overall roles ing and the step-by-step specifics sof daily operations different futures markets, from the traditional ones in in futures trad on the trading floor. He examines the agricultural commodities to such newer arenas as foreign currency, interest rate, and stock index futures. He then responds to the types of practical questions any potential investor in these mar kets will pose Very specific criteria for finding and choosing a broker, including a checklist of precisely what sorts of services the investor should expect. How are to open on account, how to place an order, and what the different types of order.

The differences between day and position trading, ing spreads, what they intend as well as to accomplish, and what risks the different kinds of trad s they entail.

He explains the basic tools of analyzing futures prices. A detailed chapter is devoted to many of the complex factors that influence supply and demand, the basis of fundamental analysis-from seasonality to fluctuations in the dollar, from cyclical price changes to inter- national tensions. Another chapter explains bar charts and point-and-figure charts, the primary charts used in technical analysis, including the pattems these charts reveal (such as trends and reversals) and how to use such techniques on moving averages and oscilla- tors to time trades.

for the reader who wants to participate in the futures industry, he provides practical guidelines for developing a trading strategy. These range from assessing reasons why you should not enter the futures arena (including such diverse reasons as time constrictions or emotional unsuitability), to determining investment goals or such nitty-gritty questions as whether you will need a computer or want a charting service. It also describes the alterna tives to active trading-for example, investing in commodity funds or subscribing to an advisory online.

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332.64 BER h

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Detail Information

Series Title

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Statement of Responsibility

Jake Bernstein

Call Number

332.64 BER h

Publisher

New York : New York Institute of Finance., 1989

Collation

xii, 282 p. : ill ; 23cm.

Language

English

ISBN/ISSN

0-13-407222-7

Classification

332.64

Content Type

-

Edition

-

Subject(s)

Buku Umum
Finance
Investing

Specific Detail Info

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