Best books on commodity trading in india
One of the best selling day trading books, you get to benefit from the experience of one of the most highly regarded analysts in the forex world. A lot of good books focus on technical analysis, strategy and risk management, but not so many focus on the complexities of trading psychology.
The book details why not yielding to your emotions is harder than it sounds and offers you a multitude of tips for keeping calm and getting in the right headspace.
The author focuses on market philosophy and delves into his own trading psychology. The only thing to point out is that this book was written during the highly volatile period of the dotcom boom, so some information may be outdated. If you want strategies you can take from the book and apply with ease then this is a good choice.
You get a number of detailed strategies that cover entry and exit points, charts to use, patterns to identify, plus a number of other telling indicators. This book gets glowing reviews and is written in an engaging way, giving it appeal to a wide audience. The book explains why most strategies such as scalping struggle to overcome high intraday costs and fees. This is a self-proclaimed step by step guide, taking a complex system and making it easy to follow.
The success of this book comes from the clear instructions you get around entry and exit rules, how to capitalise on small intraday trends, plus advice on the software you do and do not need. The author also keeps it light-hearted and engaging throughout, making it one of the must read trading books. There are no mincing words, it offers you practical advice from page one on how to trade futures effectively. You can also apply the philosophies and strategies found here to any number of intraday markets.
Thanks to the wonders of technology you can now get day trading audiobooks and ebooks. They also allow you to take notes whilst you listen, or apply the information in real-time on your platform.
You can also get books in pdf, as free downloads. These popular day trading books are an extremely useful tool that many people overlook, to their detriment.
They will allow you to keep a detailed record of all your trades. Books give you inspiration. You also need a solid strategy to win in trading. Can someone take initiative and keep all the available ebooks at one place somewhere on the cloud storage? This should be the first book you should read while entering the stock market. This is another interesting read which uncovers the physiological aspects of trading.
It will help you to become a disciplined trader and manage your money effectively. The focus of this book is more on preserving capital rather than making it, and this is what makes it a unique read. You will find tons of testimonials all over internet where people claim that they became better traders after reading this gem from Mark Douglas. This book is the bible for Technical analysis. If you are new to Technical analysis, or you are not convinced that technical analysis ever works, then this is for you.
Martin explains everything from the very scratch which would be very beneficial for beginners. You will find basics of charting, pattern analysis, price action trading, advanced technical indicators and some of the proprietary trading systems in this book. Never miss to read this if you aspire to become a serious trader.
This book portrays the real life story of Nicolas Darvas. It describes how a professional dancer turned into trader and made a fortune with a small initial investment. This book is very inspiring for people even from non-trading world. Nicolas has very convincingly explained every trade he executed to make 2 million dollars from stock market. All agree cultural tradable commodities are cyclic, nature dependent and economy dependent too.
Similarly all industry used metals, energy products are non cyclic, industry dependent and economy dependent. Some economists also argued that semi cyclic commodity. The demand of a specific commodity is complex tasks to analyze since it depends on many inter continental and global factors. As a trader though you require the sound knowledge in all these but it is quite difficult to master. Hence the next way out of this problem is "Simplest analytical procedure to understand and apply in commodity trading".
The most intelligent method to analyze this commodity price is to use the correlation analysis of domestic currency with the domestic commodity price. The correlation tool is readily available in Microsoft excel to do the job for you. The 2nd intelligent procedure to identify the price trend of the commodity will be using the cycle theory approach of the Elliot, W.
As a commodity trader identify the trend using the cycle theory approach, do the correlation analysis with domestic or any global standard currency. Though the information given by me is half cooked but I have given the hint for all the necessary parameter which you need to do a perfect commodity analysis.
The beta decoupling method also has great success in commodity trading. Must Read Article a. How to use 1SD level to form option strategy? How to do intraday and positional trade using 1SD formula? Covered call option strategy using 1SD formula d.