Leo Melamed on the Market

Author: Leo Melamed (USA) | Translator
Publisher:
Publish Date: 2005-09-01
Features: Thirty years ago, few people paid attention to the newborn futures industry, let alone respected it. The main reason was that practitioners were seen as a bunch of reckless speculators. Leo Melamed fundamentally changed this perception. As the number one figure at the Chicago Mercantile Exchange and later the head of the International Monetary Market, he worked tirelessly to reform, innovate, and boldly implement effective trading techniques. Melamed reshaped the futures industry and ignited the global futures revolution that swept the world. Today, under the guidance of the recognized "father of financial futures," you are fighting in the exciting yet controversial, high-risk futures market, experiencing the glorious birth of the futures market, witnessing its magnificent growth, and looking forward to unlimited future development. Leo Melamed on the Market is not just a historical account but also correctly points out the lessons learned from the dizzying highs and lows experienced by the futures industry, as well as how to apply these lessons to your trading to ensure long-term profits. To this end, Melamed dispels many myths about the futures market, demonstrates how steadfast principles can bring great success to the industry, and offers many wise suggestions based on his 25 years of trading experience. Leo Melamed on the Market shows you the path to becoming a successful trader. It explains the important concept that traders should love the market rather than fight it, and why this adaptability will bring you long-term benefits. It also proves that you must not only have the right tools (including necessary risk capital, the talent to decipher economic trends, and the skill to apply trading techniques) but also the necessary psychological qualities. Other parts of the book, from the explanation of the birth of the futures market to the discussion of global markets, provide objective lessons and warnings for insightful futures traders. If these traders want to succeed in today's often uncertain emerging world system, the lessons and warnings in the book should serve as a guide.