HELPING FUTURES TRADERS SINCE 1997

Source: National Futures Association

This publication is the property of the National Futures Association.

Table of Contents:

1. Introduction
2. Early Futures Markets & Today's Futures Markets: What, Why & Who
3. The Market Participants
4. What is a Futures Contract?
5. The Process of Price Discovery
6. Gains and Losses on Futures Contracts
7. The Arithmetic of Futures Trading and Leverage
8. Margins
9. Basic Trading Strategies
   
10. Participating in Futures Trading
11. What to Look for in a Futures Contract?
12. Understanding (and Managing) the Risks of Futures Trading
13. Options on Futures Contracts
14. In Closing
15. Glossary
16. NFA Information and Resources

National Futures Association is a Congressionally authorized selfregulatory organization of the United States futures industry. It’s mission is to provide innovative regulatory programs and services that ensure futures industry integrity, protect market participants and help NFA Members meet their regulatory responsibilities. This booklet has been prepared as a part of NFA’s continuing public education efforts to provide information about the futures industry to potential investors.

Past performance is not necessarily indicative of future results. The risk of loss exists in futures and options trading.