This text explains the futures industry to beginners and veterans alike. The book covers the basics of the futures industry, looking at topics that cover: speculation and managed futures, choosing a broker and placing an order, technical analysis, hedging and spreading, financial and stock and index futures, trading options, and governmant agencies and oversight. This updated edition also looks at the new forces that are shaping the industry, such as: electronic exchanges, new research in the area of technical analysis, the emergence of the Euro currency, increased importance of stock indices; the growing importance of electronic trading and the Internet, and new rules and regulations.

Author Biography

Mark Powers is one of the futures industry's most respected and influential figures. A key participant in drafting many of the original contract specifications for trading currency and financial derivatives, Powers is the CEO of Powers and Dubin Asset Allocation and Management and former editor of The Journal of Futures Markets. He also served as chief economist for the Commodity Futures Trading Commission and has contributed his expertise as a director on numerous futures exchanges.