061: All You Need To Know About Commodity Trading (@CarleyGarner)
Carley Garner: All You Need To Know About Commodity Trading
In episode 61 of the Desire To Trade Podcast, I interview Carley Garner, a commodity and options trader. She is the woman behind DeCarley Trading, an award-winning commodity broker. She has been in the trading business for over 12 years and started with options from day 1.
Carley mentions that options trading is done at a slower pace than other assets such as Forex, stocks, and futures. 80% of options expire worthless. We also discuss option selling, a way to make money on a higher probability with unlimited risk. As an option buyer, the risk is limited but the probability of making a profit is smaller.
There are loads of valuable advice in this episode. Carley has the experience and lessons needed
Pieces Of AdviceBe fearful when others are greedy and greedy when others are fearful. - @CarleyGarner Click To Tweet There's not a right or wrong way to trade, but just the one you're comfortable with. - @CarleyGarner Click To Tweet The opportunity in a quiet market is to be on the sideline. - @CarleyGarner Click To Tweet
Topics Covered – Carley Garner
- How being contrarian can make you a great trader
- Why options are interesting to trade
- How to trade commodities
- How option selling works
- The biggest mistakes Carley made in trading (good anecdote!)
- The best to start trading options
- How to limit your risk with options
- Decision process of an option trader
- The main commodities traded by Carley
- The main mistakes beginners make (i.e. the lasting power)
- And much more!
What is one thing you are going to implement after listening to this podcast? Leave a comment below, or join me in the Facebook group!