'You can make a fortune by following this one rule alone. A careful study and review of past movements in any commodity will prove to you, beyond a doubt, that this rule works, and that you can make profits following it."
How to Make Profits Trading in Commodities. 1942, p. 36
Any trader, from the novice to the professional, who is aware of the futures markets knows that tremendous profit potential exists in trading futures. Yet, it seems almost impossible to learn all the trading rules and "caveats" of futures trading, and then to put them into practice.
A computer and software can give a trader many advantages. Automated data retrieval, stochastics, RSI calculations, and Elliott Wave counts can all be done in minutes, rather than hours, with less work and greater accuracy.
A beginning trader, though, may not own a computer. It may be a costly and time-consuming effort, sorting through the maze of investment software, plus the numerous technical-analysis methods and "systems" that are offered today. Terms such as extended 5th waves and oscillators, and the names of Fibonacci and Wilder, may be completely foreign to the new trader. Systems with exotic names, all of which seem to promise wealth, only add to the confusion.
The new trader looks for something that is clear, simple and easy to understand; some trading method that can be used to increase a trader's confidence - and a trader's account.
This book was written to give a new trader answers and information. It does not contain a sure-fire method of making a fortune overnight. It DOES present guidelines to help the beginning trader earn consistent profits, while answering some of his questions. The guidelines are based on established rules that are surprisingly simple, yet dramatically effective for profiting from the markets.
The rules follow the "KISS" axiom of Keep It Simple, Stupid. They have stood the test of time for any market, for any period, and for any amount of capital the trader wishes to risk.
The rules are based on Gann's 50% Retracement Rule.
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