Trader's First Book on Commod Ities An Introduction to the World's Fastest Growing Market

ISBN-10: 013324783X

ISBN-13: 9780133247831

Edition: 2nd 2013

Authors: Carley Garner
List price: $39.99
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Description: Earn consistent profits trading commodities, even if you're a newcomer to the commodities markets! Carley Garner'sA Trader’s First Book on Commodities, Second Editionis today's most practical and realistic introduction to successful commodities trading. More than any other primer, it recognizes that the most important trading decisions are made long before the first trade is executed. Drawing on years of dealing with retail traders from all walks of life, experience levels, and amounts of risk capital, Garner answers the most pressing questions newcomers ask -- and the questions they haven't realized they need to ask. This extensively updated Second Edition reflects major changes in the market over the past three years, including new trading challenges, platforms, tools, data resources, and risks. Garner presents a hard-eyed look at the collapses of MF Global and PFGBEST, their failure to honor the sanctity of “Customer Segregated Funds” accounts, the implications for investors, and techniques for mitigating these new risks. She has added new charts and example trades throughout; new coverage of commodity impacts arising from recent events in Europe; important information about new technological improvements and competitive intraday position margin standards; and much more.

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Book details

List price: $39.99
Edition: 2nd
Copyright year: 2013
Publisher: FT Press
Publication date: 12/19/2012
Binding: Hardcover
Pages: 288
Size: 7.50" wide x 9.50" long x 0.75" tall
Weight: 1.342
Language: English

Carley Garner (Las Vegas, NV) is Senior Market Analyst and Broker with DeCarley Trading, and a columnist for Stocks and Commodities. She is author of two FT Press books, Commodity Options and A Trader's First Book on Commodities. Garner writes two widely-distributed e-newsletters, The Stock Index Report and The Bond Bulletin. Her work has been featured in Futures, Active Trader, Option Trader, Your Trading Edge, and Pitnews Magazine, and she has been quoted in media ranging from Reuters to Investor's Business Daily and The Wall Street Journal. She provides free trading education to investors at www.DeCarleyTrading.com.

Introduction: The Boom and Bust Cycles of Commodities…and Now Brokerage Firms
What Has Changed?
The Speculator's Role in Volatility
Commodity Volatility Leads to Fortunes Made and Lost
Commodity Brokers Boom and Bust Too
How to Protect Yourself from Another MF Global or PFGBEST
What Regulators Are Doing to Protect Clients
Conclusion
A Crash Course in Commodities
How It All Began
The CME Group
Evolution of the Forward Contract into a Futures Contract
Cash Market Versus Futures Market
Contract Expiration
The Mechanics of Futures Contracts
Futures Spreads
A Brief Introduction to Commodity Options
Hedging Versus Speculating
Commodity Hedgers
Commodity Speculators
The Organized Chaos of Open Outcry and the Advent of Electronic Trading
The Pit
Electronically Traded Markets
Side by Side
Account Access, Trading Platforms, and Quote Vendors
Commodity Quotes Can Be Costly, But They Don't Have to Be
Open Outcry Quote Reporting and Access
Electronic Quote Transmission
Subscribing to Quotes
Charting
Free Trading Platforms and Market Access
Paid Trading Platforms
Auto Approval Versus Manual Approval
Multiple Order-Entry Methods
Popular Premium Trading Platforms
Order Desk ("The Desk")
Is It Worth Paying Platform Fees or Subscribing to Quotes?
Choosing a Brokerage Firm
Introducing Brokers, Futures Commission Merchants, and Broker/Dealers
Fill Quality
Behind the Scenes of Transaction Costs
Discount Brokerage or Full-Service Specialization
What You Should Know About Commission Structure: Blanket or Variable Rates?
Market Access
Beyond Your Broker
Conclusion
Finding a Broker That Fits and Choosing a Service Level
Understand Your Broker's Business
Get to Know Your Futures Broker
Full-Service Broker or Self-Directed Online?
Why Using a Broker May Be a Good Idea
Conclusion
Order Types and How to Use Them
Order Types
Placing a Trade with Your Broker
Placing a Trade Online
Making Cents of Commodity Quotes
Quoting Grain Futures
Not All Grains Are Created Equal
The Meats
Foods and Fiber
Precious Metals Futures
Gold, Platinum, and Palladium Futures
The Other Metal Futures
The Energies
Figuring in Financial Futures-Stock Indices, Interest Rates, and Currencies
The Boring But Necessary Basics
Stock Index Futures
Dow Jones Industrial Average Futures
NASDAQ 100 Futures
S&P 500 Futures
Russell 2000 Futures
Interest Rate Futures
Treasury Bond and Note Futures
Eurodollar Futures
Currency Futures
Conclusion
Coping with Margin Calls
What Is Margin?
Day Trading Margin Versus Overnight Margin
What Are Margin Calls?
How to Handle a Margin Call
The Margin Call Countdown
Accepting Margin Calls
The Only Magic in Trading-Emotional Stability
Three Emotions in Trading: Fear, Greed, Frustration
Vengeful Trading Is Counterproductive
Capital Preservation, a.k.a. Risk Management
Trading Is a Business-Have a Plan
The Trading Game Plan
A Trading System Alone Isn't a "Business Plan"
Constructing a Business Plan in Trading
Price Speculation (Ideally, Prediction)
Choosing a Trading Vehicle
Risk Management
Why You Should Speculate in Futures
Speculating in Futures Versus Speculating in Equities
Risk Capital Only
Conclusion
Futures Slang and Terminology
Bull Versus Bear
Spread
Contract Month Slang
Red Months
Fill
Blow Out
Blow Up
Keypunch Error
Busted Trade or Moved Trade
Fat Finger Error
Net Liq
Equity
Customer Segregated Funds Account
Beans
Commodity Currency
Dead Cat Bounce
Bottom Fishing
Chasing the Market
Limit Moves
The Tape
Trading Solution and Front-End Platform
Proprietary Trading
Running Stops
Short Squeeze
Babysitting
Scalp
Slippage
Working Order
Unable
Handle
Overbought/Oversold
Debit/Account Debit
Round-Turns
Trading Environment
Index
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