Trading Chicago Style
Book

Trading Chicago Style

Insights and Strategies of Today's Top Traders

Neil T. Weintraub
McGraw-Hill, 1999
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Editorial Rating

5

Qualities

  • Overview
  • Insider's Take

Recommendation

This book is a series of discussions between author Neil T. Weintraub and some of the most successful people trading on the Chicago markets today. Like the trades, the information flies fast and furious, and one trader’s ideas may completely contradict another’s. But most seem to agree that the keys to successful trading are discipline, psychological stability and a solid understanding of risk management. You will succeed in the Chicago markets if you keep your cool and stick to your system, no matter what’s happening. This chat-happy book offers many perspectives, ideas and experiences from extremely knowledgeable sources. The uninitiated reader might find it difficult to follow some of the more jargon-laden discussions and the initiated reader might find the chattiness to be disturbing or irrelevant. But regardless of which category you’re in, getAbstract recommends this book as a valuable introduction or a helpful trade manual.

Summary

Trading Chicago Style: Yesterday and Tomorrow

The phrase "trading Chicago style" - with its images of screaming, arm-waving people - used to strike fear into the hearts of the uninitiated. For the most part, trading Chicago style is still the same as it ever was. But it is on the verge of change. Like every other financial institution, Chicago is feeling the heat of the fireball known as the Internet. Electronic trading has started to widen the marketplace in every way. Locals soon will begin to leave the pits and settle in behind computer terminals. The traditional hours of the pits will be abolished. People will trade any time they want, morning, noon, or night. New traders will establish themselves more easily. Finally, the premium on market information will rise quickly.

What Traders Can Learn From Gamblers

Pretend you’re gambling on a football game. Will you bet on the team with the better offense, or defense? What if you knew that no Super Bowl champion has ever ranked in the bottom twentieth percentile of the league, defensively? No matter how poised the quarterback or coach, if the defense is weak, the guy calling the shots will lose his composure. ...

About the Author

Neil Weintraub, author of the best-selling Tricks of the Floor Trader , has years of experience as a floor trader and Commodity Trading Adviser. He currently teaches his own day-trading method to floor traders at the Chicago Mercantile Exchange.

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