Can anyone recommend some good reading about trading Gas, Power and/or crude? I've read and re-read Fletcher Sturm's "Trading Natural Gas," and think much of it sunk in. I've printed and read almost all of the training material the NYMEX offers, and much of it has sunk in. I work for an energy company with significant load and physical assets that we trade around actively. Some of the traders, risk folks and book managers give me the occasional tutoring session or at least tolerate my frequent questions. So, I have a pretty solid conceptual understanding of how we procure the supply to serve our load, how and when we run our power plants, how we treat our storage facilities & allocations, etc. However, there seems to be a gap between the conceptual and the practical, and I'm trying to bridge it. I'm sure that with time I'll understand better, but I'd like to accelerate that if possible. Are there any good books or "manuals" that would be worth reviewing to better understand the day to day activity and decision making of the traders? While pure spec trading is certainly interesting, I'd like to learn about trading around physical assets. I've seen videos of people scalping stocks on youtube, etc. Does anyone know of vids worth watching of energy traders engaging in and explaining their transactions and thought process? Thanks
See if you can get your hands on any of the "manuals" from the courses taught by these folks: http://www.paradigmtraining.com http://www.oxfordprinceton.com http://www.pgsenergy.com/
are you trading technically or fundamentally is my question. If technical, study price movement and charting. Not to brag but I could trade crude just as easily as I could an index future. I have no concept of the fundamentals of crude, nat gas, etc. I highly recommend informed trades the guy runs a really good site: www.informedtrades.com
I want to understand the practical application of fundamentals. I conceptually inderstand fundamentals, but am interested in how fundamental traders apply them to their trades, especially when there are assets involved. Thx