Often people choose to use a financial planner despite the cost because they feel overwhelmed learning how to invest. However, many resources are available to help you learn how to invest and grow your money. If you’re adventurous, you may want to explore commodity trading. These commodity trading books for beginners can help you learn more about this unique area of investing.
What Is Commodity Trading?
Commodities include grains, metals, beef, natural gas, and oil. Commodities often gain in value when the stock market falls and vice versa. However, investing in commodities can be tricky because you need to speculate what the market might do, and that’s not always possible. Yet, commodities can help round out your portfolio.
Commodity Trading Books for Beginners
You can learn more about investing in commodities with these books:
Commodities for Dummies
The for-Dummies line of books offers an excellent way to get the basics of whatever you’re interested in. In Commodities for Dummies, you’ll learn how to invest in commodities, how to minimize your risk, and how to include commodities in your portfolio. This 384-page book will also guide you as to how to invest in metals, which are one of the most popular commodities in which to invest. Be forewarned, though, that some find this book a bit dry.
Gold Is a Better Way
Speaking of investing in metals, Gold Is a Better Way is entirely about investing in this commodity. The author, Adam Baratta, is a former award-winning screenwriter, producer, and director, so this book is not dry. You’ll learn why every investor should have gold in their portfolio. Plus, Baratta tells you why you shouldn’t rely solely on the stock market when investing.
A Trader’s First Book On Commodities
A Trader’s First Book on Commodities is a thorough book that all prospective commodities traders should read. The author, Carley Garner, sets traders up for success by discussing the right platforms to trade on and the market mechanics and logistics. Garner is a futures and options broker with DeCarley Trading, so she has a lot of experience. However, throughout the book, she does suggest that investors should hire someone like her. That may be off-putting to some readers.
The Complete Turtle Trader
Do you enjoy true stories better than potentially dry how-to books? If so, The Complete Turtle Trader is the book for you. Follow along as Richard Dennis found investing novices (called Turtles), gave them each one million of his own money, and then taught them his strategy for investing. The Turtles made an impressive amount of money, and the book follows them to the present day to see how successful they are now.
Final Thoughts
Learning to invest on your own can have a steep learning curve, especially if you go outside the mainstream of stocks and want to invest in commodities. Yet, investing in commodities can round out your portfolio. Hopefully, these commodity trading books for beginners, especially A Trader’s First Book on Commodities, can help you understand the nuances of commodity investing and can help you avoid costly money mistakes.
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Melissa is a writer and virtual assistant. She earned her Master’s from Southern Illinois University, and her Bachelor’s in English from the University of Michigan. When she’s not working, you can find her homeschooling her kids, reading a good book, or cooking. She resides in New York where she loves the natural beauty of the area.