Specifically, you buy a commodity (sugar, soybeans, oil, etc.) that's trading toward its historic lows. You purchase put options to put a floor under the trade (limiting your risk), and scale into the trade (buy more futures at pre-determined intervals) if the price continues to fall. You are relying on the near certainty that the price must eventually rise. If you hold long enough and if all goes as it should (i.e., you execute), you will make a boatload of money in the eventuality. Obviously, attempting to scale trade a stock, which may have no tangible worth (think "Enron") is a bad idea, hence the focus on commodities futures.

"Understanding Hedged Scale Trading" offers a relatively user-friendly technique for playing in the pits. After explaining how the futures markets work, the author gets right down to the real nitty-gritty: deciding which commodities to trade, the mechanics of trading futures, and how to buy more time (roll over your position). There is even a short treatise on technical analysis.

According to the publisher (and my Amazon search), this is the only comprehensive book on hedged scale trading currently available. Good thing that it's a keeper.