Winning in the Futures Markets: A Comprehensive Guide by George Angell PDF
Winning in the Futures Markets by George Angell PDF: A Review
If you are interested in learning how to trade futures successfully, you may have come across a book called Winning in the Futures Markets by George Angell. This book, first published in 1987, is considered a classic in the field of futures trading. It covers various aspects of futures trading, such as market psychology, technical analysis, risk management, and money management. It also provides some practical tips and strategies for trading different futures markets, such as commodities, currencies, and indices.
winning in the futures markets by george angell pdf
But is this book still relevant and useful for today's futures traders? What are some of the main concepts and ideas that you can learn from this book? And how can you access the PDF version of this book online? In this article, we will answer these questions and more. We will review Winning in the Futures Markets by George Angell PDF and give you our honest opinion on whether you should read it or not.
The Main Concepts of the Book
One of the main strengths of this book is that it covers a lot of ground in terms of futures trading. It is not a simple guide or manual that tells you what to do or what not to do. Rather, it is a comprehensive and in-depth exploration of various aspects of futures trading that can help you understand how the markets work and how to trade them effectively. Here are some of the main concepts that you can learn from this book:
The four keys to success in futures trading
According to George Angell, there are four keys to success in futures trading. These are:
Knowledge: You need to have a thorough knowledge of the market you are trading, including its history, trends, patterns, cycles, fundamentals, and technicals. You also need to have a good knowledge of yourself, your strengths, weaknesses, goals, and risk tolerance.
Discipline: You need to have a disciplined approach to trading, which means following your rules, plans, and systems consistently and without emotion. You also need to have a disciplined attitude, which means being patient, persistent, flexible, and adaptable.
Courage: You need to have courage to take calculated risks and act on your convictions. You also need to have courage to admit your mistakes and cut your losses when necessary.
Luck: You need to have luck on your side, which means being in the right place at the right time and catching the big moves. You also need to have luck in terms of avoiding unforeseen events and disasters that can wipe out your account.
Angell argues that these four keys are interrelated and interdependent. You cannot have one without the other. For example, you cannot have knowledge without discipline, or courage without luck. You need to have a balance of all four keys to succeed in futures trading.
The importance of market psychology and sentiment
Another important concept that Angell emphasizes in his book is the importance of market psychology and sentiment. He believes that the markets are driven by human emotions, such as fear, greed, hope, and despair. These emotions create patterns and cycles in the markets that can be observed and exploited by traders. Angell explains how to use various tools and techniques to measure and analyze market psychology and sentiment, such as:
Market profile: This is a graphical representation of the price distribution and volume activity of a market over a given period of time. It shows the areas of value, acceptance, rejection, and balance in the market. It also shows the market's direction, trend, range, and volatility.
Market breadth: This is a measure of the number of advancing and declining issues in a market or a sector. It shows the strength, weakness, divergence, and convergence of the market or the sector.
Market momentum: This is a measure of the rate of change or acceleration of the price movement of a market or a sector. It shows the speed, force, and direction of the market or the sector.
Market sentiment indicators: These are various indicators that reflect the mood, attitude, and opinion of the market participants, such as traders, investors, analysts, media, etc. Some examples are put/call ratio, volatility index, advance/decline line, etc.
Angell shows how to use these tools and techniques to identify the dominant market psychology and sentiment at any given time and how to trade accordingly. He also shows how to anticipate changes in market psychology and sentiment and how to adapt to them.
The use of technical analysis and indicators
A third concept that Angell covers in his book is the use of technical analysis and indicators. He believes that technical analysis is a powerful tool for futures trading because it can help you identify trends, patterns, support and resistance levels, entry and exit points, risk and reward ratios, etc. He also believes that technical indicators are useful for confirming or contradicting your analysis and providing signals for trading. He explains how to use various types of technical analysis and indicators, such as:
Trend analysis: This is the analysis of the direction and strength of the price movement of a market or a sector over time. It involves identifying uptrends, downtrends, and sideways trends using trendlines, channels, moving averages, etc.
Pattern analysis: This is the analysis of the shapes and formations that the price movement of a market or a sector creates on a chart over time. It involves identifying reversal patterns, continuation patterns, breakout patterns, etc.
Oscillators: These are indicators that measure the degree of overbought or oversold conditions in a market or a sector. They show when a market or a sector is likely to reverse or continue its direction. Some examples are relative strength index (RSI), stochastic oscillator, moving average convergence divergence (MACD), etc.
Trend-following indicators: These are indicators that follow or confirm the direction and strength of the price movement of a market or a sector over time. They show when a market or a sector is in an uptrend or a downtrend. Some examples are moving averages (MA), directional movement index (DMI), average directional index (ADX), etc.
Angell shows how to use these types of technical analysis and indicators to enhance your trading performance and results. He also shows how to combine them with other tools and techniques for optimal results.
The role of risk management and money management
A fourth concept that Angell discusses in his book is the role of risk management and money management. He believes that these are essential skills for futures trading because they can help you protect your capital and maximize your profits. He explains how to use various methods and principles for risk management and money management, such as:
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Stop-loss order: This is an order that automatically closes your position at a predetermined price level if the market moves against you. It shows how much you are willing to lose from a trade. Angell recommends using a stop-loss order for every trade and adjusting it according to the market conditions and your trading system.
Position sizing: This is the process of determining how many contracts or units to trade based on your account size, risk tolerance, and trading system. It shows how much you are risking per trade and per market. Angell recommends using a position sizing method that suits your personality and objectives.
Diversification: This is the process of spreading your risk across different markets, sectors, time frames, and trading systems. It shows how much you are exposed to market fluctuations and correlations. Angell recommends using diversification to reduce your overall risk and increase your opportunities.
Angell shows how to use these methods and principles for risk management and money management to improve your trading consistency and longevity. He also shows how to avoid some common mistakes and pitfalls that can ruin your trading career.
The Benefits of Reading the Book
Now that we have covered some of the main concepts of the book, let us look at some of the benefits of reading it. Here are some of the reasons why you should read Winning in the Futures Markets by George Angell PDF:
How the book can help you improve your trading skills and performance
The book can help you improve your trading skills and performance by providing you with valuable insights, knowledge, and experience from a successful futures trader. You can learn from Angell's wisdom, expertise, and advice on how to trade futures effectively and profitably. You can also learn from his mistakes, challenges, and failures on how to avoid them and overcome them. The book can help you develop a solid foundation and framework for futures trading that can serve you well in any market or situation.
How the book can inspire you to develop your own trading system and strategy
The book can inspire you to develop your own trading system and strategy by showing you how Angell created his own unique and profitable trading system and strategy based on his research, analysis, testing, and optimization. You can learn from his process, methods, and criteria on how to design, develop, and implement your own trading system and strategy that suits your personality, goals, and preferences. You can also learn from his examples, case studies, and results on how to evaluate, refine, and improve your own trading system and strategy over time.
How the book can provide you with practical examples and case studies
The book can provide you with practical examples and case studies by showing you how Angell applied his trading system and strategy to various futures markets, such as commodities, currencies, and indices. You can see how he analyzed the markets, identified the opportunities, executed the trades, managed the risks, and closed the positions. You can also see how he dealt with different scenarios, situations, and challenges that he faced in his trading career. The book can give you a realistic and comprehensive view of what futures trading is like in action.
The Drawbacks of Reading the Book
Of course, no book is perfect or flawless. There are also some drawbacks of reading this book that you should be aware of. Here are some of them:
What are some of the limitations and criticisms of the book
Some of the limitations and criticisms of the book are:
The book is old: The book was first published in 1987, which means that some of the information, data, examples, and case studies may be outdated or irrelevant for today's futures markets. The markets have changed a lot since then in terms of technology, regulation, competition, volatility, etc. Some of the concepts and ideas may still be valid and useful, but others may need to be updated or modified accordingly.
The book is complex: The book is not a beginner's guide or a simple introduction to futures trading. It is a comprehensive and in-depth exploration of various aspects of futures trading that requires a lot of prior knowledge, experience, and understanding. Some of the topics may be too advanced or technical for some readers, especially those who are new to futures trading or have a limited background in finance, economics, mathematics, statistics, etc.
The book is biased: The book is based on Angell's personal opinions, beliefs, and preferences. It reflects his own trading style, system, and strategy. It may not suit everyone's personality, goals, and preferences. Some of the concepts and ideas may be controversial or questionable for some readers, especially those who have a different trading philosophy, approach, or method.
These are some of the drawbacks of reading this book that you should consider before deciding whether to read it or not.
The Best Way to Read the Book
If you decide to read this book, you may wonder what is the best way to read it. Here are some tips and suggestions on how to get the most out of this book:
How to get the most out of the book
To get the most out of the book, you should:
Read it with an open mind: You should read the book with an open mind and a critical eye. You should not blindly accept or reject everything that Angell says. You should evaluate his concepts and ideas based on your own knowledge, experience, and judgment. You should also compare and contrast his concepts and ideas with other sources and perspectives.
Read it with a purpose: You should read the book with a clear purpose and a specific goal. You should know what you want to learn from the book and how you want to apply it to your own trading. You should also have a plan and a schedule for reading the book and taking notes.
Read it with a practice: You should read the book with a practice and a feedback. You should not just read the book passively or theoretically. You should also practice what you learn from the book actively and practically. You should test and experiment with Angell's concepts and ideas in your own trading using a demo account or a small account. You should also monitor and measure your results and performance using objective and subjective criteria.
These are some of the ways to get the most out of this book.
How to access the PDF version of the book online
If you want to access the PDF version of this book online, you have several options. Here are some of them:
Buy it from an online bookstore: You can buy the PDF version of this book from an online bookstore such as Amazon, Barnes & Noble, or Google Play. This is the easiest and most convenient option, but it may also be the most expensive one.
Borrow it from an online library: You can borrow the PDF version of this book from an online library such as OverDrive, Hoopla, or Open Library. This is a cheaper and more accessible option, but it may also have some limitations such as availability, duration, or format.
Download it from an online source: You can download the PDF version of this book from an online source such as Scribd, Z-Library, or PDF Drive. This is a free and unlimited option, but it may also have some risks such as legality, quality, or security.
These are some of the options for accessing the PDF version of this book online.
Conclusion
In conclusion, Winning in the Futures Markets by George Angell PDF is a classic book on futures trading that covers various aspects of futures trading such as market psychology, technical analysis, risk management, and money management. It also provides some practical tips and strategies for trading different futures markets such as commodities, currencies, and indices.
The book can help you improve your trading skills and performance by providing you with valuable insights, knowledge, and experience from a successful futures trader. It can also inspire you to develop your own trading system and strategy by showing you how Angell created his own unique and profitable trading system and strategy. It can also provide you with practical examples and case studies by showing you how Angell applied his trading system and strategy to various futures markets.
However, the book also has some drawbacks that you should be aware of. The book is old, complex, and biased. Some of the information, data, examples, and case studies may be outdated or irrelevant for today's futures markets. Some of the topics may be too advanced or technical for some readers. Some of the concepts and ideas may be controversial or questionable for some readers.
```html ell's concepts and ideas based on your own knowledge, experience, and judgment. You should also compare and contrast his concepts and ideas with other sources and perspectives. You should know what you want to learn from the book and how you want to apply it to your own trading. You should also have a plan and a schedule for reading the book and taking notes. You should also practice what you learn from the book actively and practically. You should test and experiment with Angell's concepts and ideas in your own trading using a demo account or a small account. You should also monitor and measure your results and performance using objective and subjective criteria.
You can access the PDF version of this book online by buying it from an online bookstore, borrowing it from an online library, or downloading it from an online source. Each option has its own advantages and disadvantages in terms of cost, convenience, availability, duration, format, legality, quality, and security.
We hope that this article has given you a useful and informative review of Winning in the Futures Markets by George Angell PDF. We recommend that you read this book if you are interested in learning how to trade futures successfully. However, we also advise that you read this book critically and selectively, and that you supplement this book with other resources and materials.
Happy reading and happy trading!
FAQs
Here are some frequently asked questions about Winning in the Futures Markets by George Angell PDF:
Q: Who is George Angell?
A: George Angell is a professional futures trader, author, educator, and consultant. He has been trading futures for over 40 years and has written several books on futures trading, such as Sniper Trading, Profitable Day-Trading, How to Triple Your Money Every Year with Stock Index Futures, etc. He has also taught seminars and workshops on futures trading around the world. He is known for his unique and profitable trading system and strategy that combines market psychology, technical analysis, risk management, and money management.
Q: What is futures trading?
A: Futures trading is a form of financial trading that involves buying or selling contracts that obligate the parties to exchange an asset at a predetermined price and date in the future. The asset can be a commodity (such as gold, oil, wheat, etc.), a currency (such as US dollar, euro, yen, etc.), an index (such as S&P 500, Dow Jones, Nasdaq, etc.), or any other financial instrument. Futures trading allows traders to speculate on the price movements of the underlying asset without owning or delivering it. Futures trading also allows traders to hedge their exposure to price fluctuations of the underlying asset.
Q: What are some of the advantages of futures trading?
A: Some of the advantages of futures trading are:
Leverage: Futures trading allows traders to control a large amount of the underlying asset with a small amount of capital. This means that traders can magnify their profits (or losses) with a relatively low investment.
Liquidity: Futures trading allows traders to enter and exit positions quickly and easily due to the high volume and activity of the futures markets. This means that traders can take advantage of mar