The Thinking Person's Approach to Commodity Market Success
Commodity trading is done in one of two ways: Automated computerized buying and selling, or analyzing commodity pricing through the use of charts to time trades and spot trends before they peak. Arthur Sklarew's Techniques of a Professional Commodity Chart Analyst weighs in forcefully in the latter camp.
This is a very practical book, written in clear and direct prose by an analyst who spent a lifetime mining the secrets of commodity price trends. Much of what is presented here is the author's original work, accompanied by many illustrations. Trading strategies are offered as objective guides to a reasoned approach to decisions regarding what and when to buy and sell. Using his "Rule of Seven", "17-35 Measurements," and other techniques allows even a novice trader to spot price trends, estimate the distance a new price will travel, locate logical points to place "buy" and "sell" stops, and identify potential trend reversal thresholds.
Sklarew's approach also emphasizes the thrill of trading by using skills to call the play and take satisfaction in being on top of the market zeitgeist, as well as profiting from it. The trading strategies offered here do not call for a battery of computing power; they can be practiced at home with nothing more than working with the day's quotes gleaned from a daily newspaper or posting.
Buy and read this book if using your intellect while working the market is your idea of having fun when maximizing investments. The valuable insights gained from Sklarew's book may pay for it many times over in a single trade.
This book is also available from Echo Point Books as a paperback (ISBN 1648374107).
Arthur Sklarew's involvement with commodities started in the early 1930s when he was a commission broker and import agent in the cash coffee market in New York. It was then that he first began to use price charts and moving averages in advising customers on the timing of their purchases and sales. In the late 1940s he expanded into cocoa importing, and in 1950 acquired a membership on the New York Cocoa Exchange. When he eventually realized that he was making far more money in futures than in his cash business, he decided to concentrate on the former exclusively. Since 1963 he has been associated with a major Wall Street commission house.He was an avid student of market technical phenomena for those same years, constantly experimenting with new approaches, techniques, and methods. (He earned his reading glasses, he said, peering at price charts.) This, his first book, is the distillate of more than three decades of experimentation and inquiry into the price behavior of commodity markets.
