A Trader's First Book on Commodities: An Introduction to the World's Fastest Growing Market

by Carley Garner

You can make large profits by trading commodities--but you’ll need significant practical knowledge of the associated risks and market characteristics before you start. A Trader’s First Book on Commodities is a simple, practical and useful guide for new commodities traders. Author Carley Garner provides specific guidance on accessing commodity markets cost-effectively, avoiding common beginners’ mistakes, and improving the odds of successful, profitable trades. Drawing on her extensive experience teaching traders, Garner shows how to calculate profit, loss, and risk in commodities, and choose the best brokerage firm, service level, data sources, and market access for your needs. She’ll help you: · Master the basics of trading commodities painlessly, avoiding beginners mistakes · Get what you need, and prevent paying for what you don’t need · Know what you’re buying, what it costs, the returns you’re earning and the risk you’re taking · Predict price, manage risk, and make trades that reflect your analysis Garner demystifies the industry’s colorful language, helps you clearly understand what you’re buying and selling, and walks you through the entire trading process. She concludes with a refreshingly new look at topics such as trading plans, handling margin calls, and even maintaining emotional stability as a trader. “This book provides the type of information every trader needs to know and the type of information too many traders had to learn the hard and expensive way. Carley offers practical need-to-know, real-world trading tips that are lacking in many books on futures. It will help not only the novice trader, but seasoned veterans as well. This book will serve as a must-have reference in every trader’s library.” --Phil Flynn , Vice President and Senior Market analyst at PFGBest Research, and a Fox Business Network contributor “Refreshing–It’s nice to see a broker who has actually been exposed to the professional side of trading and who bridges that chasm between exchange floor trading and customer service. Carley takes the time to explain verbiage, not just throw buzz words around. A good educational read in my opinion.” --Don Bright , Director, Bright Trading, LLC “This book has the perfect name, the perfect message, and the necessary information for any beginning trader. Take this book home!” --Glen Larson , President, Genesis Financial Technologies, Inc. “As a 35-year veteran of the CME/CBOT trading floor, I can tell you…those who think they can begin trading commodities without knowing the less talked about topics that Carley discusses in A Trader’s First Book on Commodities are sadly mistaken. Anyone who trades their own account, or would like to, should read this book.” --Danny Riley , DT Trading

Genres: Business, Finance, Nonfiction

244 pages, Hardcover

First published December 14, 2009

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

[Daniel · Rating 4 out of 5]

I had no idea what commodities were when I picked up this book to read. I liked learning a little of the history of futures, I liked reading about the commodities like sugar, coffee, metals. I like that she talk about brokers, the math involved, I enjoyed reading the book

[Donald · Rating 2 out of 5]

Much of this one is either pointless or dated. While there may still be viable information included, it is not presented well either initially or after the editing process. The first half of this book could be delivered in a few pages by someone with better editing skills.

[Hüseyin Çötel · Rating 1 out of 5]

Dont read this book if you are not kidnapped for it

[Carley Garner · Rating 5 out of 5]

Why I wrote "A Trader's First Book on Commodities" ~ Carley Garner

Years of dealing with retail traders from all walks of life, experience levels, and amounts of risk capital, prompted me to compile the answers to the most pressing questions asked by commodity newcomers into a single source. As an industry insider, I feel as though I have developed a keen understanding of the risks and rewards of commodity trading and the goal of "A Trader's First Book in Commodities" was to deliver a candid, yet optimistic and entertaining account of the realities involved.

[Jak · Rating 1 out of 5]

As someone who sells to the professional commodities trading communities I expected the book to aimed more at someone like a graduate who's breaking into the market with a trading house. Unfortunately it was actually aimed at retail traders and therefore, rather than discussing actual commodities and how they are traded, the book spent half it's time discussing different types of brokers and trading systems.

As I'm clearly the wrong target audience it's hard to say if he book would be of any use or not for other readers. But for me, it was a painful read and not much use.

[Thomson Kneeland · Rating 3 out of 5]

A good book for the beginner new to commodities and trading. Most of the information in here I was already aware of from trading stocks and options, but it still added a few insights for me regarding differences with the futures markets. Well written, and the best book I've found for a newbie, but not really pertinent for an intermediate/advanced trader. Nevertheless, well written, clear, and methodical.

[Johns · Rating 2 out of 5]

OK, if you intend to become an active commodities trader, this is a necessary book for you to read. BUT . . . if you only want to decipher commodities pricing (that's me!) then this is not the book for you. I'm still panting for a simple chart or description that teaches me how to understand feeder cattle or corn pricing or beans quotes that I see on farm channel TV. Are these units per pound? per ton? per bushel? per animal? WHAT? Still looking to learn.

[Brendan · Rating 2 out of 5]

I just read through this ( not read completely ) I might as well be a guide to playing Texas hold'em. Speculation add nothing to the acutal economy. The best part is ' You can trade futures in an IRA ' < Carley doesn't advocate that put feels obliged to mention it ! >

[A · Rating 3 out of 5]

broad based, but quite info dense book. Title is honestly named

[Mills College Library]

332.6328 G2343 2013