Trader Vic on Commodities: What’s Unknown, Misunderstood, and Too Good to Be True

Trader Vic on Commodities by Victor Sperandeo is an advanced, brutally honest exploration of how the commodity markets truly work beneath the surface. Sperandeo—known as “Trader Vic,” one of the most respected traders of the last 40 years—breaks down the myths, misunderstandings, and hidden realities of commodity trading that most books overlook.

Drawing from decades of real trading experience, the book explains the structural dynamics of commodities: physical supply and demand, storage cycles, inventory reports, term structures, backwardation, contango, hedger behavior, and institutional order flow. Sperandeo shows how these forces shape price movement more predictably than traditional chart analysis alone.

He also clarifies the most misunderstood areas of commodity speculation, including futures pricing models, volatility regimes, seasonal effects, commercial hedging, and how large traders influence markets. Throughout the book, Sperandeo applies his famous rule-based approach—combining macro logic, market psychology, and tactical technical analysis—to identify high-probability opportunities.

This is not a beginner’s book; it is a strategic manual for serious traders who want to understand commodities at an institutional level. Sperandeo’s practical insights, market history lessons, and absolute commitment to truth make this a must-read for anyone serious about trading futures or commodity-linked products.

✅ What You’ll Learn:

• The real economic forces driving commodity markets
• How supply, demand, storage, and seasonality shape price cycles
• What backwardation and contango reveal about market conditions
• How futures pricing actually works (not the simplified textbook version)
• How commercial hedgers and institutional traders influence market behavior
• How to align trades with long-term macro, structural, and cyclical forces
• Technical setups that work best in commodities vs. equities
• How to model risk and position sizing in inherently volatile markets
• How market psychology interacts with scarcity, fear, and speculation
• A full strategic framework for trading futures intelligently

💡 Key Benefits:

• Understand commodities at a deeper, more structural level
• Reduce risk by reading market conditions the same way professionals do
• Build trades around supply/demand realities, not market noise
• Avoid common myths and traps that cause retail traders to lose
• Improve technical timing using Sperandeo’s proven rule-based methods
• Develop a professional mindset for high-volatility commodities

👤 Who This Book Is For:

This book is ideal for:

• Intermediate and advanced traders who want to master commodity trading
• Futures traders looking to improve timing, structure, and risk management
• Macro traders analyzing energy, metals, agriculture, and currency relationships
• Technical analysts who want deeper insight into real commodity drivers
• Serious traders seeking the truth about how commodity markets function

📚 Table of Contents:

• The Basics
• You Can’t Win Them All
• Indicators and Tools
• 2B or Not 2B: A Classic Rule Revisited
• An Introduction to the S&P DTI
• A Challenge to the Random Walk Theory
• The Rationale and Value of a Long/Short Futures Strategy
• Why the S&P DTI Is an Indicator
• The Fundamental Reason the S&P DTI Generates Core Returns
• The Nature of the S&P DTI Returns
• A Fundamental Hedge
• S&P DTI Subindexes: The S&P Commodity Trends Indicator and the S&P Financial Trends Indicator

Trader Vic on Commodities: What's Unknown, Misunderstood, and Too Good to Be True By Victor Sperandeo