Viewpoints of a Commodity Trader
$20.07
| Author(s) | |
|---|---|
| Format |
|
| Pages |
147 |
| Published Date |
1967 |
Many traders feel that the key to successful and profitable trading lies solely in finding the “perfect system,” or at least a highly profitable trading method. They fail to realize, and never learn, that without understanding themselves, and mastering the psychological aspect of trading, they will never be truly’successful. Without the proper discipline and dedication, any system or method becomes ineffective. In Viewpoints of a Commodity Trader, the attitude, mental discipline, and philosophy required to become a successful trader are explored by veteran trader Roy Longstreet.
Introduction:
The psychological aspect of trading is considered by many to be the most important. In this classic, veteran trader Roy Longstreet explores many areas that are of psychological significance to the futures trader and offers guidance on how to deal with each effectively.
This is a behind the scenes book in the strictest sense of the phrase. When Roy Longstreet was first confronted with the question: If you know so much about commodity trading, then why aren’t you rich? He determined that the best answer would be a conspicuous measure of financial success in the trading of commodities futures. That he achieved his objective is evident, because now he is the head of the largest brokerage firm in the country dealing exclusively in commodities.
The techniques and the methods he employed over the years to achieve financial success is what is important to the reader and in this book we have those methods ably described by Mr. Longstreet. His approach to commodity trading is more fundamental than technical. He believes that psychology plays a basic role in the movement of commodity prices. As a matter of fact, he has often expressed the desire to hire a psychologist to apply specialized knowledge and find out what people who trade commodities think and why they make the mistakes they do.
Roy Longstreet’s views will prove to be invaluable for those who want to increase their financial standing along intelligent, crystal-clear and forthright lines. As publishers of many books in the financial field, we recommend Roy Longstreet’s book to you.
Contents:
- Making Money With Money
- Trading Is an Art
- Fighting a Market
- Stress Point
- Running Scared
- Hope (less) Trading
- Forecasts
- Statistics
- Keeping Score: Calculating Risk
- Commodity Trading, a Service
- Declining Commodity Markets
- Overtrading
- Spread Trading
- Trading the Fundamentals
- Chart Trading
- Charts Plus Fundamentals
- Thinking and Learning
- Weather Markets
Viewpoints of a Commodity Trader By Roy W. Longstreet pdf
8 reviews for Viewpoints of a Commodity Trader
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Daniella Oliver (verified owner) –
One of the best trading books ever written. Essential, condensed and a valuable point of view of those who experienced the thing on the front line.
Phoebe Harrington (verified owner) –
I originally bought this book because a trading advisor recommended it. Now it has become a cherished companion. In it are a number of short chapters covering a range of issues that are germain to the business of trading. Each of the chapters a suitable for a thought for the day, a quick pick me up, or a meditaion. A real goldmine for the futures trader.
Clark Lawson (verified owner) –
Great book about trading- Wish I read it many years ago.
Here are some lessons that I love-
1. Knowledge and courage. You need to have an edge and the gut to implement (go big)
2. Most traders don’t know what they are doing. I agree. I sometimes wonder what is going on-
3. Future is unpredictable. Nothing we can do but we can try our best to limit our downside.
4. Humility. Pride will get you killed in the market.
5. Make sure to make big money when the risk/reward is extremely favorable.
6.Make sure you have an edge. Most people don’t have an edge. I certainly feel that my edge needs to be improved A Lot.
7.Short term is super unpredictable.
It’s real short and pleasant read overall 😀
Saige Dunn (verified owner) –
must read for an one that wants to trade
Karson Clayton (verified owner) –
This is a series of brief pep talks for traders. I don’t know how useful they are. I found it interesting to read, it’s a simple, easy book, but didn’t necessarily tell me anything I don’t already know. I suppose it may help someone who’s emotional state while trading is off kilter. It may help novices although I subscribe to the opinion that experience is really the only teacher. It may also work as a refresher course for an experienced trader who feels like they’re losing their knack. It certainly doesn’t hurt to read. I mean it doesn’t give any bad advice.
Waverly Reeves (verified owner) –
The books collection of short stories, is good for the begining trader, but doesn’t solve the age old questions of how to trade. it is no Dancing With Lions, by trader X
David Francis (verified owner) –
I would rank this up there with the best. Roy was one of the few who developed the attributes necessary to not only make a fortune but to keep it. He traded well into his 80’s, pretty remarkable. The gems are in there. Roy was a big believer in never giving up, in learning from mistakes, in learning about yourself, and in being patient and having no expectations of the market.
Dawson Barry (verified owner) –
Books like this make you realize the beauty of the markets. No matter what the markets are doing today, it’s been done before. There truly is very new under the sun and this book distills some of the most important pearls of wisdom for traders. I would highly recommend this book to a intermediate + trader since I think it takes time to learn from your early years of trading. In summary, get this book and take good notes.