Official Review: Trading E-Mini Stock Index Futures

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LV2R
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Official Review: Trading E-Mini Stock Index Futures

Post by LV2R » 05 Dec 2018, 07:57

[Following is an official OnlineBookClub.org review of "Trading E-Mini Stock Index Futures" by Dr. Dennis B. Anderson.]
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4 out of 4 stars
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Dennis B. Anderson shares his experience and expertise in his book, Trading E-Mini Stock Index Futures: A New Path to Wealth. First, the author states that trading futures is a high risk, high reward activity and should be done with money that you can afford to lose. The author suggests starting with at least $10,000 to $15,000 and to practice the strategies in a simulation before using real money. Anderson explains three models in detail that are high probability trades with limited risks. He desires to help traders be successful without any catch or moneymaking scheme.

Anderson describes some important technical indicators and candlestick patterns to use in trading three different models. He has simplified trading down to using mostly two exponential moving averages and two simple moving averages to show trends, a Stochastic Oscillator to show if the price is overbought or oversold, and candlesticks and patterns to show reversals. He also uses support and resistance to help with trading the sideways movements in prices to know when to enter or to exit a trade. He calculates market corrections for long-term trading in Model 3, and this method is advised to use only if the trader has a lot of money and little time to trade. Therefore, I like the Model 1 strategy the best, as it uses moving averages, a Stochastic Oscillator, and candlestick patterns for following trends. I also like the Model 2 – Index Bites, as well because the market spends 80% of its time in non-trending ranges, and it is a short-term trading strategy that can add up to good profits over time.

I was disappointed that the book did not have more pictures of actual trading charts to show the different indicators and examples of the different models he described. I believe it would help tremendously for most readers to have visuals when learning about trading. Therefore, I think this book would appeal more to traders who want to supplement their learning about trading futures and not for a new beginner.

On the other hand, there were good graphics of the different candlesticks and patterns, which were beneficial to the book. The book contains a glossary of words in the back to help with all the trading terminology, as well as a list of abbreviations in the front. I thought the e-mini future’s abbreviations were helpful. For example, the ES is the E-mini S & P 500 Stock Index, and the YM is the E-mini DOW 30 Stock Index. The author also included the value of each tick or point price for each of the five most common e-mini futures, which I found to be helpful. I also liked the quotes from various people that were used in the book. A famous quote from Warren Buffet is:
“Rule Number One: Never lose money. Rule Number Two: Never forget Rule Number One.”
The book was extremely well edited. I actually only found one possible error of mentioning “support” when it should be “resistance” in explaining model one. I rate Trading E-Mini Stock index Futures 4 out of 4 stars not only for the way the author explained trading but also for the strategies he shared. The book is straightforward and clear. The author’s intentions to help people trade by themselves without relying on others and special indicators were met in this book. If you are interested in trading futures, this book is a good one to add to your reading list. There are benefits of trading futures!

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Trading E-Mini Stock Index Futures
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Post by kandscreeley » 06 Dec 2018, 08:30

Sadly, I don't have $10,000 sitting around somewhere, much less $10,000 that I can afford to lose. So, I doubt this book would do anything but irritate me. If I ever come into a whole bunch of money, I'll consider it. Thanks, though.
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Post by fernsmom » 14 Dec 2018, 10:08

Great review! :tiphat:
I personally don't think I would enjoy reading this book as I enjoy an entertaining fiction story. Plus, as kandscreeley said, I too, don't have $10,000 and if I did it wouldn't be to risk it. But, sounds like if I ever did that I should read it going by your review.

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Post by Cotwani » 14 Dec 2018, 12:00

I guess my biggest take-home from the book will remain rule number one and rule number two. Quite apt! Thanks for the educative review all the same!
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Post by Lunastella » 11 Jan 2019, 22:25

I definitely do not have the money for this kind of investment, but I'm not the target audience, probably.
I'm glad the book is well explained, especially the terminology because many authors just assume the reader is familiar with the terminology.
I applaud your courage for reviewing such a specialized book, you did a great job.

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Post by Espie » 21 Jan 2019, 20:52

I'm more risk-averse and would only verge into calculated risks when I really need to. Stocks have always been a great investment to those who are into finding and making sense out of the relative unpredictability. This book seems to be a good reference for those serious about the topic, and you've done the piece not just ample but, instead, great justice. Thank you for your enlightening review.
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Post by Bavithra M » 22 Jan 2019, 01:25

This kind of book is not my cup of tea. I am not intrested in this type of genre of books but still i found your review gave good insight about the book. Good work and thanks for the review
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