A Trader's First Book on Commodities: Everything you need to know about futures and options trading before placing a trade

by Carley Garner

In their quest for trading commodities profitably, beginning traders spend a substantial amount of time studying market theory, various types of market analysis, and paper-trading in the futures and options markets. Yet, almost all of them fail to take the necessary steps to ensure their trading environment is conducive for the profits they seek. “A Trader’s First Book on Commodities” aims to fill the void in trading literature that overlooks the importance in making the right decisions before ever placing a commodity trade such as fully understanding market mechanics and logistics, choosing a proper trading platform, understanding order types, being aware of market data fees and policies, how to quote and calculate profit or loss in each of the commodity markets, preparing for margin calls, and the only magic in trading–humility. A Trader’s First Book on Commodities is guaranteed to shorten the learning curve for beginning traders while offering seasoned traders a new perspective on familiar topics. There is more to trading than computer-generated oscillators and trendlines; choosing the wrong trading platform, brokerage, or order type can do more harm to a trading account than choosing the wrong technical indicator. "Trading commodities is a game of mental stability; without the proper understanding of the futures and options markets and the ability to remain calm, it is difficult to make rational trading decisions. The goal of this book is to enable traders to create a trading environment lacking peripheral distractions or stress which, in turn, mitigates emotions and improves the odds of trading success. In short, the third edition of A Trader’s First Book on Commodities is everything you need to know and do before you ever place a trade." - Carley Garner

Genres: Business, Finance

246 pages, Kindle Edition

Published October 20, 2017

About the author

Senior Commodity Market Strategist and Broker, STOCKS & COMMODITIES Magazine Columnist, TheStreet.com Contributor, and Author

Carley Garner is an experienced futures and options broker with DeCarley Trading, a division of Zaner Group, in Las Vegas, Nevada. She is also the author of Higher Probability Commodity Trading; A Trader's First Book on Commodities (two editions); Currency Trading in the Forex and Futures Markets; and Commodity Options. Her e-newsletters, The DeCarley Perspective and The Financial Futures Report, have garnered a loyal following; she is also proactive in providing free trading education at www.DeCarleyTrading.com.

Carley is a magna cum laude graduate of the University of Nevada Las Vegas, from which she earned dual bachelor’s degrees in finance and accounting. Carley jumped into the options and futures industry with both feet in early 2004 and has become one of the most recognized names in the business. Her commodity market analysis is often referenced on Jim Cramer’s Mad Money on CNBC and she is a regular contributor to TheStreet.com and its Real Money Pro service.

Carley authors a monthly column in STOCKS & COMMODITIES magazine and has been featured in the likes of Futures, Active Trader, Option Trader magazines, and many more. She has been quoted by Investor’s Business Daily and The Wall Street Journal and has also been known to participate in radio interviews. She can be found on the speaking circuit.

Reviews

[Iuliana Maxim · Rating 4 out of 5]

No matter if you are a beginner or already advanced in trading, this is the book for you, because it introduces commodities concepts in a simple and clear way, and on top, it provides you with extra-insights and personal learnings about commodity trading based on Garner's own experience. If you are an absolute beginner in the commodities world, you may struggle a bit at the beginning of your learning journey in getting your head around all the concepts and terminology and I think that precisely because of being able to explain complex concepts in a comprehensive and effective manner, Garner's book is indeed a first guide in the commodities world.

[Alejandro · Rating 4 out of 5]

Great book for those starting (or considering) to trade futures. Although the title of the book refers to "Commodities", the author actually also provides an overview of stock index futures, interest rate futures and currency futures. I found that very useful as the explanations covered many of the frequently-asked questions regarding size of contracts, liquidity, minimum value moves and overall exposure. As someone working in the financial industry already for some years, many of the concepts were not new to me, but the book was nonetheless easy-to-read, insightful and overall worth reading.

[Jim Miller · Rating 1 out of 5]

Do not buy or read this book! This book is an endless onslaught of self-promotion, complaining, a fear-mongering. She spends literally the first half of the book either complaining about how she was cheated out of her money, why computer trading is killing trading pits, gives fear to why discount brokers are bad, and begs for you to come to open an account with her firm because trading futures is complicated.

This book doesn't teach how to trade futures, risks, or rewards.

I need a book that might actually educate me, not give me a worthless sales pitch to use her crappy firm.

Also, every time she mentions the tv show "American greed", the movie "trading places", why you should "pay commissions" to your full-service broker, you need to take a shot of your favorite adult beverage. You won't make it past the first 5 chapters!