Good Books/Websites for Commodity Trading?
Hey everyone
I am sophomore and I want to learn more about trading commodities and commodities itself. Could you guys refer me to some great books and (preferably) websites to get started on commodity trading at a beginner's level?
Thanks
"Oil 101" is a must read. It's perfect for people entering commodities with preference to oil. I also find that "money week" post some pretty informative videos on youtube, they have commodity content on there. There are also some informative videos on "khan Academy". It largely depends on whether you want to trade physical or paper. If you don't know what I mean by that, then that's a good place to start!
The oil traders words
I would recommend "The Ol Traders Words" It describes all definition and jargon related to oil trading,logistic and refining. You must understand the oil business language to avoid getting stuck with words during meetings and discussions. Website is www.woenzel.com
Stefan,
I see that you are the author of "Oil Trader Words" and have a pretty solid background in the oil biz. What exactly do you cover in your book? I'm sure WSO monkeys would be curious to know as well
Good question Mr. Blender :) I just created a blog about the book. But here in short: The book is a 560 pages word-book or dictionary. A collection of all definitions and jargon I heard over the last 25 years in the oil business. It describes the meaning of the oil words as we use them in practice. I made the book because I think the oil market needed it. I see too many people forwarding messages with knowing what some words mean. They hear a traders talking about the forward market, the curve, the structure, backwardation or contango and when you ask someone to explain what is then they do not know or to try to look it up on Wikipedia. Well Wikipedia is good but each explanation consist of again lots of definitions. My book is an easy read and meant to make things fast to understand and to find. All words gathered in one book. It concerns physical trading of oil, moving the molecules. related to trading, logistics, refining, risk management, paper trading, oil qualities, HSE, documentation etc. When I started 25 years ago in the oil business is wished such book did exist, but after many years it was still not there. I hope my book serves the market. I call it often "my contribution to the oil market". So far good response only, hope to keep up to good work.
Buy the Natenberg book "Options Volatility and Pricing"
x2 for Downey's "Oil 101". It's gotta be due for an update pretty quick here, frac is only one tiny paragraph, but a huge factor in the industry these days.
Book Recommendations on Commodity Trading? (Originally Posted: 02/16/2011)
Looking for some recos for books on commodity trading (silver, gold, oil, softs, grains, etc)
I want a primer that explains how it all works
Thanks
Davis W. Edwards - Energy Trading and Investing
I've read alot of texts on the subject but this book is by far the most comprehensive/easiest to read without being trivial.
Also...
George Kleinman - Trading Commodities and financial futures
... it covers metals and softs which the energy book doesnt
and of course... the Bible of Commodities...
Chicago Board of Trade - Commodity Trading Manual
Niederhoffer is tough to beat:
The Education of a Speculator
Hot Commodities by Jim Rogers
Thanks guys Ill give these a look
What online sites/sources Commodity Traders rely on? (Originally Posted: 02/04/2009)
I am seeking information on for any blogs, publications, websites, news sites, associations that provide insightful information that Commodities Industry professionals (trading, risk management, marketing & origination, derivatives ) rely on.
I know Bloomberg, Platts...what other sources and why?
Thanks,
Puja Lakhlani CommodityCareers.com Supporting Candidates in North America
gartman letter
Commodity Trading Books (Originally Posted: 02/18/2009)
Does anyone know any good commodity trading books for someone about to start a trading internship? I know on the internship I wont actually trade but I am interested none the less.
These are just a couple off the top of my head:
The Candlestick Course
The New Commodity Trading Guide: Breakthrough Strategies for Capturing Market Profits - Not released yet but will be worth every penny because Kleinman is the man.
Hot Commodities : How Anyone Can Invest Profitably in the World's Best Market
Rigged: The True Story of an Ivy League Kid Who Changed the World of Oil, from Wall Street to Dubai - More of narrative non-fiction but provides good insights into oil trading.
Finally, there is a book entitled How To Sell Futures that was written by the CBOT many, many moons ago. It was worth it's weight in gold, and was therefore banned. It's not a trading guide per se, but it was the most cogent guidebook on the world of commodities probably ever written. Old timers like me all have copies, and they may occasionally find their way to eBay, so be on the lookout.
If I think of any others, I'll post them.
Edmundo Braverman,
Was "How to sell futures" written by the CBOT? The only ones I can find was written by a guy named Walsh in 1989...
The timeframe sounds right. It was a blue paperback book published by the CBOT, about 180 pages, and it may have been written by a guy named Walsh.
bump
Learning Commodities (Originally Posted: 06/17/2015)
Hello,
I am primarily a forex trader. I want to begin trading commodities. It seems that there are very few educational resources on the internet compared with other asset classes. What there is is just general market intro and mechanics. I am looking for something that goes into some detail on analysis and strategy to give a foundation for begining. Before I buy books or courses, can anyone recommend and more comprehensive free options on the internet. Thank you.
For futures trading I would highly recommend Technical Analysis of the Futures Markets: A Comprehensive Guide to Trading Methods and Applications by John Murphy.
Will respond later.
Best way to learn about commodities market (Originally Posted: 11/19/2007)
There are very limited books out there on this topic, especially good ones (although I heard the Jim Rogers book is decent). Any ideas? I was thinking about interning at an utilities or oil company, but that is going to be very hard to come across. (And the commodity sector I'm most interested in is energy). Thanks to all who respond.
bummppp
I will be starting an internship trading energy at utility. I have also been looking for this information too. Found the following link:
http://p075.ezboard.com/5-things-you-wish-your-last-intern-had-known-be…
Seems like a lot of good information. How is the Rogers book?
there are quite a few books out there about energy risk management. a few of them are actually pretty shitty (especially as they try to dumb down the more quantitative material), but all of them should give you at least some grounding in how the markets operate. Wiley has a good selection of books that you can check out.
Disclaimer: I am not a working professional.
I read the Rogers book and I found that it is a good book if you have had no exposure to the commodities market. It covers several different commodities such as softs, crude and gold. That being said, it is a very elementary book and covers mostly fundamentals. Rogers spends a lot of time selling you the fact that the commodities marketing is booming and you need to buy into his index. All in all, it's a good intro and a short read.
check out Jim Sinclair's www.jsmineset.com
i've learned so much from that website in the last 4 years, but it requires daily reading. much of the focus, but certainly not all, is on precious metals, so if that's your thing, you might find some good value in his daily commentary.
learning about commodities (Originally Posted: 08/26/2008)
Hi, I'm interested in learning more about commodity markets in general, who are the major players, market overview, etc. Basically i'm looking for a book that would give a good basic grounding in commodities. FYI, this is for a someone who wants to go down the commodity sales route.
thanks
http://media.wiley.com/product_data/excerpt/48/04701176/0470117648.pdf
Give that a read.
that looks great, thx
Books about Commodity Markets/FX Markets (Originally Posted: 10/11/2010)
I'm currently reading the book below and it's has been a great read thus far. It basically covers the markets in a very basic format. Great read for anyone with little to no knowledge of the FX markets.
http://www.amazon.com/Foreign-Exchange-Practical-Markets-Finance/dp/047…
Once I'm finished with it, I'm interested in either reading a book similiar in format to the one above but about commodities......or another book about FX but a little more advanced.
Any ideas?
Oil 101 is an excellent read about the oil market. Natural Gas Trading is another good book for Natural Gas. You don't really need a more advanced book than the one you have. If you want to get more advanced you should read up on Options trading. Natenberg is a decent starting point, although I also like Exotic Options Trading by De Weert.
There are also a book called commodities trading but I am not sure how good it is.
Commodity Books (Originally Posted: 07/30/2014)
I am looking to learn more about commodity trading and I am hoping a couple of you have some book sugguestions.
Commodities and Commodity Derivatives: Modelling and Pricing for Agriculturals, Metals and Energy by Geman, Trading Nat Gas by Sturm, Oil 101 by Downey
The king of oil The prize: the epic quest for oil
the king of oil is one of the best. the recent book "secret club that runs the world" is not very good
Old thread on this that's pretty exhaustive, check it out: http://www.wallstreetoasis.com/group-post/25-oil-books-in-the-group-lib…
Power books I like:
Easy read: energy trading and Investing: Trading, Risk Management and Structuring Deals in the Energy Market by Davis Edwards
Medium/advanced: Electricity Markets: Pricing, Structures and Economics by Chris Harris
Hardcore: The Handbook of energy trading by Stefano Fiorenzani
I consider the last one hard to read because it deals with models and is rather maths intensive. All the previously mentioned books by the other WSO users are rather good as well ! Oil 101 is a must read if you ask me.
Medium/advanced: Electricity Markets: Pricing, Structures and Economics by Chris Harris GREAT READ!!!
jim rogers hot commodities
Most universities with good agricultural programs release studies and reports about the different crops in their respective areas. If you are willing to do some digging there is a wealth of information that you can get access to and leverage for free. That information won't help you with trade structure but it should help with the research aspect.
For ag commodities - The Art of Grain Merchandising by Sherry Lorton
Question for the scholars in commodity trading (Originally Posted: 04/12/2012)
Gents-
It's the end of my sophomore year in college and I'm starting to realize that I might need to switch it up from doing keg stands to, unfortunately, doing book stands. I've got some internships in the works that will give me a solid look at an S&T internship for my junior year summer, and ideally from that, I'd like to look into commodities trading.
Does anyone have any recommendations for commodity specific reads that focus more on the fundamentals of the product? I know Oil 101 by Downey is the standard read for Crude, but what about grains, metals, etc?
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