Book - Review

Product: A Trader's First Book on Commodities, Second ...

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Product Name: A Trader's First Book on Commodities, Second Edition

 

Carley Garner’s A Trader's First Book on Commodities (2ndedition), gives traders specific guidance on accessing commodity markets cost-effectively. Drawing on her extensive experience teaching traders, Garner shows traders how to calculate profit, loss, and risk in commodities. She shows the reader how to choose the best brokerage firm, find the best service level, locate data sources, and to determine the best futures and options trading platforms with the best market access.

Trading commodities has huge potential for large profits, but with that comes the potential for huge losses. Traders need significant practical knowledge of the dangers and market characteristics in order to succeed. Garner’s book is an excellent place to begin gathering the knowledge. Written in a straight-forward manner, the book translates complex ideas into readily understandable information. Garner avoids pounding the reader with abstract theory or bewilderingly complex trading strategies.

Garner lays out how to avoid the common mistakes beginners make, which shows traders how to improve the odds of making profitable trades.  What is particularly helpful to those just learning how to trade commodities is Garner’s demystifying the complex language of commodity trading and her ability to walk traders through the entire trading process one step at a time.

In the book, Garner gives traders the basic information needed to learn how to trade commodities, such as building trading plans and handling margin calls, but she also talks about one of the most under discussed aspects of trading – maintaining emotional stability as a trader.

Trading commodities is hard work and the risk/reward ratio is high. Traders need to approach commodities with a strong knowledge base and a clear head. Simple, direct, and to the point, Garner delivers the educational tools beginning commodity traders need.

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, MrTopStep.com