Welcome to episode 8 of the "Day Trading For Beginners Podcast." I'm Tyler Stokes from StokesTrades.com, and in this episode, I'm excited to talk about the fascinating world of commodities.
Join me on my journey to become a full-time day trader as we explore the essentials of commodity trading, perfect for beginners.
Note: This episode was originally released under the podcast name Day Trading for Beginners, now rebranded as Stock Trading for Beginners.
• My insights into what commodities are and their role in the stock market and the economy. • Sharing my learning process and understanding of commodities.
Real-Life Examples of Commodities:
• I discuss various types of commodities: wheat, gold, oil, and financial products. • How these commodities impact our daily lives.
Trading Commodities:
• Explaining the difference between physical commodity trading and speculative trading. • Introduction to the concepts of futures trading and options. • How, as a day trader, you can engage in commodity trading without physical ownership.
Categorizing Commodities:
• I break down commodities into groups: energy, metals, agriculture, etc. • Understanding the difference between hard commodities (like metals) and soft commodities (such as agricultural products).
Preview of Future Episodes:
• I tease upcoming discussions on futures options, the Forex market, and stock market indexes. • Outlining the steps for setting up a brokerage account.
Key Insights Recap:
• My realization that commodities are basic, interchangeable goods crucial to the global economy. • The importance of uniformity and interchangeability in commodities. • My perspective on the global commodity trading market. • How we, as individuals, can trade commodities through futures contracts, options, and ETFs.
Closing Thoughts:
I wrap up the episode by summarizing my newfound understanding of commodities and their importance in day trading. It's crucial to grasp these basics before diving into more actionable trading strategies.
Subscribe:
Stay tuned and subscribe to the podcast for more insights as I continue my journey from a beginner to a full-time day trader. Check out the links below for additional resources and updates on my progress.
