If you’ve ever found yourself scratching your head over the complex world of futures trading, you’re not alone. It’s a market that’s part science, part art, and—if I may say—a bit of a guessing game unless you have the right tools. Enter Volume and Open Interest: Cutting Edge Trading Strategies in the Futures Markets by Ken Shalen. Now, this isn’t your typical Wall Street jargon manifesto. It’s a focused deep dive into two market indicators that have quietly shaped trading decisions for over 140 years. And yes, you read that right—140 years!
Key Features
Let’s break down the gist of this book. The two indicators at center stage here are volume and open interest. Volume tracks the number of contracts traded within a session—think of it as the market’s heartbeat, telling you when things are lively or snoozing. Open interest, on the other hand, counts all the contracts that are still open at the end of the day. It’s the measure of ongoing commitments. Ken Shalen, a seasoned futures trader and educator, dedicates the entire book to these two numbers, showing how they reveal market sentiment in ways that price charts alone can’t.
What really sets this book apart is its disciplined approach. Instead of blindly chasing price rumors, readers learn to spot discrepancies—those subtle mismatches in volume and open interest—that hint at where the market might be headed next. The book’s strategies feel like having a seasoned guide whispering, “Hey, pay attention here.” And at a price point just shy of $7.50, it’s quite an affordable treat for anyone serious about mastering futures.
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Pros & Cons
On the plus side, the book scores a perfect 5-star rating from early readers. In their praise, they highlighted how Ken Shalen’s clear explanations make complex concepts accessible, even for those who might be new to technical indicators. Both reviewers noted the hands-on, practical nature of the content that can be applied without needing a PhD in economics.
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On the flip side, with just two reviews, it’s fair to say this gem hasn’t hit the mainstream spotlight yet. For complete beginners, the subject matter might still be a bit dense, as the focus is quite specialized. But hey, if you’re the type to skim and choose, this book rewards the dedicated, patient reader.
Who Is It For?
So who should pick this up? If you’re an active futures trader looking for an edge beyond just price action, this book fits like a glove. It’s also invaluable for market educators or analysts wanting to deepen their toolkit with volume and open interest techniques. Casual investors and those dabbling casually might find the material a bit niche, but what do I know? Maybe you’re the rare bird who enjoys market mysteries.
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Final Thoughts
In the endless sea of trading books, Volume and Open Interest by Ken Shalen is a timely lighthouse focused on two crucial, yet often overlooked, indicators. It brings a disciplined, no-nonsense approach, helping readers translate raw market data into actionable strategies. While it’s not a flashy quick fix, for those willing to invest a little time, it can enrich your understanding of futures markets significantly. At under eight bucks and with rave early reviews, it’s a practical addition to your trading library—and that’s no small promise in this unpredictable market game.
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