Top products from r/FuturesTrading
We found 5 product mentions on r/FuturesTrading. We ranked the 4 resulting products by number of redditors who mentioned them. Here are the top 20.
1. Steidlmayer on Markets: Trading with Market Profile, 2nd Edition
Sentiment score: 1
Number of reviews: 1
Also https://www.amazon.com/Steidlmayer-Markets-Trading-Market-Profile/dp/0471215562/ref=sr_1_7?keywords=market+profile&qid=1574476824&sr=8-7. MoM kind of goes into the deep end without a lot of the "why".
I think understanding where it all comes from - Steidlmayer (who invented it as a floor trader) describes the why of the system. (His understanding of "random" prices falling into a bell curve and "value" buying in ranges with an analogy to Graham + Dodd, external vs. internal market controls, etc.).
As the two point out, most traders start at setups, but then when the setups stop working they don't know why. It's better to start at understanding the market, then creating a setup that works in that market / market environment.
Unlike with stocks ("in play"), the futures markets seem to spend a lot more time in ranges, so you better learn how to trade them if day trading.
Yea, read Dalton's books.
Or at least the second edition of whichever one it was. Lemme see if i can find it.
Mind Over Markets.... that's it. But consider Markets in Profile too.
MoM has a misleading title, makes you think its about psychology. It's not.
Once you get your head somewhat wrapped around methodology, spend more effort on psychology. Then just rinse and repeat. Trade micros live. Don't sim/demo trade (except to physically learn the software you're using).
Mind Over Markets: Power Trading with Market Generated Information, Updated Edition
https://www.amazon.com/dp/1118531736/
You could start getting materials and ideas from cheap kindle books. Here's an example. Yes, stay away from stocktwits, ads and such on the web, or even books that are just lead-in's to other web products and services. You can usually tell these days, if it's a famous or decent book from reviews (filter out fake testimonials for web scam authors of course). Also check out tradingschools dot org for more reviews in general.