Trading Commodities and Financial Futures (English, George Kleinman)

5.0 out of 5 starsMarkets, Uncertainty, and the Discipline of Derivatives

The book opens with a beautiful quote by Darwin: adaptation matters more than intelligence or strength in the quest for survival. That idea sets the tone perfectly.It is extremely beginner-friendly. Futures and options are explained through small, intuitive stories, making it easy to understand not just the instruments themselves but also how different derivatives interact within the market.I learned several practical aspects—delivery month selection, the role of various market participants, volatility dynamics, and the real risks of margin calls (not the movie 🙂).One of the book’s strongest points is its emphasis on process. It doesn’t just describe derivatives; it explains how to identify the right derivative and how to trade it sensibly. The economic aspects of bubbles are also discussed clearly, and the treatment of Open Interest (OI) analysis is detailed and insightful.Towards the end, another memorable quote appears—this time from René Descartes: Perfect men and perfect numbers are equally hard to find. The message is clear: no one should be encouraged to time the market perfectly, because even for experienced traders, that level of precision is highly improbable.Overall, this is a well-rounded, thoughtful book that balances concepts, market mechanics, and practical wisdom.

Good read!

Good book! Recommended for anyone who wants to start trading commodities, both physical or paper. Even for people who are already in this industry, it is also worth the read to understand another professional's perspective in the world of commodities (except for the TA part where you would most likely already know).

strong recommend

It's really great reading for a novice, interesting stories, useful basic knowledge of futures and options, including how to trade them in different ways, like you can trade the spread with lower risks, blablabla. I also benefited from the technical tools, especially the GK's own ones, like SNI and pivot indicator. What tells me the most is the traits or personalities that a successful trader should possess. I really like this book and I will read it again and again to find out more and more useful things.

One of the best books around!

This is one of the best books on trading that I have read for a long time -- and I have nearly 100 books on the subject. It discusses the Futures trading from a practical standpoint and is a must read for beginners. Some aspects of the book, such as the brief coverage on Technical Analysis, was material that I knew already but still was good to read nonetheless. The author develops a trading plan that takes you through the basics of trading futures. However, I would have liked more coverage on risk and money management. All told, this is a great book and a MUST READ for new traders. You will not regret investing in this book, as it will recoup its cost on your first trade!

Excellent learning source, a good informative read

I am still reading this book but from what I've read, I've found it informative. George is able to explain relevant concepts clearly which is important to someone learning a subject they know very little about. I am confident that I will be well educated on the subject upon completing my read. That's not to say I won't have more to learn but nonetheless I have certainly learned quite a bit from reading this book.