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Best Books for Futures Traders

Futures prop accounts reward system discipline and punish improvisation. The Turtle shelf is the core; Hull is the reference for the contract mechanics.

1

Way of the Turtle

Curtis Faith · 2007 · Level: intermediate

The original Turtle experiment told by a Turtle: the rules were simple, and the hard part was following them through drawdowns.

For prop traders: Proof that a written system plus sizing discipline beats improvisation, told by someone who lived it.

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Best Books for Futures TradersBest Trading Interview and Story Books
2

The Complete TurtleTrader

Michael W. Covel · 2007 · Level: all levels

The full Turtle story: how Dennis and Eckhardt recruited novices, taught them a breakout system, and what happened to each of them.

For prop traders: Also a study in what happens to traders after the system stops working for a while.

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Best Books for Futures TradersBest Trading Interview and Story Books
3

Trend Following

Michael W. Covel · 2004 · Level: intermediate

The case for trend following as practiced by the big CTA funds: cut losses, ride trends, diversify, and never predict.

For prop traders: Useful perspective for breakout traders who wonder whether the style has a real pedigree. It does.

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Best Books for Futures Traders
4

Market Wizards

Jack D. Schwager · 1989 · Level: all levels

Interviews with the great traders of the 1980s: Paul Tudor Jones, Ed Seykota, Bruce Kovner and others on entries, exits, and above all risk.

For prop traders: The single best calibration for what real traders obsess over. It is not entries.

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Best Trading Interview and Story BooksBest Trading Books for Beginners
5

Options, Futures, and Other Derivatives

John C. Hull · classic textbook · Level: advanced

The standard university textbook on derivatives: pricing, hedging, Greeks, and how futures and options markets actually work.

For prop traders: Reference, not bedtime reading. Own it for the chapters on the product you trade.

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Best Books for Futures TradersBest Options Trading Books