You Can't Lose Trading Commodities

After reading this book, I decided scale trading wasn't for me. To properly scale trade, you need a large amount of capital and the intestinal fortitude to watch your account go through significant drawdowns. But despite my misgivings about the scale trading method itself, this is still one of my favorite books. The author has worked as a broker and as a fund manager, among other things. His opinions and stories about what happens in the markets are classic. His dry wit and "tell it like it is" style of storytelling make it hard to put the book down in certain places. This is a valuable addition to any trader's library. If you can find a copy, it's well worth the time and trouble.

Mr. Weist's proven "scale trading" method is a very interesting but unconventional trading approach that I personally could never attempt. However, I think it's important to get different perspectives and this is a well written book, with clear examples and many of the author's own personal experiences as a professional money manager.

I personally could never attempt this trading approach, but I recommend it for reading because I think it is important for a trader to gain different perspectives. Mr. Weist was successful as a money manager and trader in applying this unconventional but proven "scale trading" methodology. He provides clear examples and many of his own interesting experiences.

If you don't know what this book is about type 'scale trading' into a search engine. For anyone intersted in this approach this is the classic must read book. I found it fascinating and nearly used this as my trading approach. Why didn't I? Because I knew that I couldn't handle the drawdowns (read- losses!)that the system involves. If you have nerves of steel this is a great way to achieve an average of 25 - 50 % a year. By the way , the 2nd half of the book is just the author ranting about how the NFA done him wrong. An interesting read , but not relevant so you could skip it.