Chapter 1. Basic training: a futures primer

Picking up the phone and instructing your broker to buy or sell is relatively simple. Performing a few mouse clicks and transmitting your order to a handheld device in the pit or to a totally electronic marketplace isn't all that hard either. It's really not all that difficult to understand how the money works. What is difficult, however, is extracting profits from the markets (something we'll tackle later in this book), but you have to start somewhere. This chapter is for those of you who need to learn the basics. So here we begin, as good a place to start as any.

Commodities are not only essential to life, but they are absolutely necessary for quality of life. Every person eats. Billions of dollars ...

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