A Trader’s First Book on Commodities: An Introduction to the World’s Fastest Growing Market By Carley Garner 244 pp. FT Press
A Trader’s First Book on Commodities: An Introduction to the World’s Fastest Growing Market by Carley Garner is a well-written, jargon-free book. I rate it number one in the beginning guide to futures/commodities category because it lucidly explains the nuts-and-bolts information needed to understand commodities and efficiently trade them.
From chapters on choosing a brokerage firm and finding a broker to coping with margin calls and trading as a business, Garner precisely targets the main issues and discusses them in layman’s language. I particularly like the following chapters: “Making Cents of Commodity Quotes” and “Figuring in Financial Futures – Stock indices, Interest Rates, and Currencies.”
This is the clearest presentation of commodity contract specifications I have seen. Personally, I will use it as a resource guide to understanding the more obscure commodity contracts. So if you want to trade cotton one day and oats the next, Garner’s book is the book to help you figure out the sizing and pricing of the contracts.
Use A Trader’s First Book on Commodities: An Introduction to the World’s Fastest Growing Market as a primer or use it as a reference. It won’t let you down.