....can anyone offer any POSITIVE advice on this career path?
I have a Finance degree and several years of finance experience.
2007-08-13 09:58:19 · 4 answers · asked by I love Lucy 1 in Business & Finance ➔ Careers & Employment ➔ Other - Careers & Employment
I've known several commodities brokers, but not because I was a client. My father was one. It's not so much about the money and commissions, as it is the trust and your knowledge of the markets. You really have to chart progress, be able to give solid advice, realize trends, read the news, watch the weather. Yes, the weather. If you have people in corn future commodities, you have to know what the weather's like in Russia and Argentina and such to see whether they might be going up or down. The riskiest are the metals because nobody can predict those.
It can be stressful, but the most positive aspect is that you know you are working FOR clients first, not yourself. A lot of people have their life on the line by taking the risk. When they do well, you will do well.
Good luck in your endeavor, I was a straight A in Ag Commidities Trading, and am still good at predicting, but I'd never do it for a career.
2007-08-13 10:14:05 · answer #1 · answered by chefgrille 7 · 0⤊ 0⤋
How is your stress tolerance? This is a very stress full career and also extremely rewarding in terms of personal wealth accumulation if you are good at it. There is very little understanding among the general public regarding brokers in general. Start with some theoretical contracts for sugar, pork bellies, beef carcasses, and some industrial metals (platinum, tungsten, silver, lead, etc) - allot a fixed sum of money (say $100,000) and a fixed target in a specified time period (how about $145,000 in 18 months) and see if you can do it. Keep very careful specific records and if you get close take it to a commodities brokerage and show it to them - it is a measure of what you can do besides dream.
This will also show you what it takes to be sucessful.
2007-08-13 10:09:27 · answer #2 · answered by Mordecai Jones 3 · 1⤊ 0⤋
being a broker is all about selling. No volume = no income.
you have to be able to develop a client list, most likely beginning at none. it sure helps if you have something to sell -- a firm's track record in the business.
how's your experience with cold calling?
:-)
2007-08-13 10:15:58 · answer #3 · answered by Spock (rhp) 7 · 0⤊ 0⤋
Don't you have to be licensed for this? Start there.
2007-08-13 10:06:16 · answer #4 · answered by Anonymous · 0⤊ 0⤋