I am completely new and wish to start commodity trading. Any advice anyone? Sensible answers only...
2007-08-27 12:08:40 · 18 answers · asked by sanjlon 1 in Business & Finance ➔ Investing
Don't get into futures unless you know what you are doing. You could lose everything overnight.
2007-08-27 12:18:57 · answer #1 · answered by truthofmatter 2 · 0⤊ 0⤋
1
2016-12-25 02:39:05 · answer #2 · answered by Anonymous · 0⤊ 0⤋
What ever type of trading U may wish to do, START with a fake account.
Example: Start trading at home on PAPER, writing it all down.
Buy, Sell, Buy, sell and if U make money on paper and feel confident then U may enter the markets.
Buy some books. Best of all is a book on Charting.
Only by understanding CHARTS do U have any chance of beating the Market.
There are some online offers for a trail (fake) account to practice your trading.
Remember it is all about RISK.
The more Risk the more profit.
Lowest risk = buy gold. Gold coins or gold bars only.
Medium = cash in bank.
High = share trading.
Higher = Commodities, Forex etc.
I almost forgot about TIME.
Do U have the Time to spend monitoring the market, reading All the info, news etc.
A market is open some where 24hrs a day, 7 days a week and they all effect you somehow.
Good Luck.
2007-08-27 20:05:45 · answer #3 · answered by elray 1 · 0⤊ 0⤋
Here is a sensible answer for you. Don't.
If I were you, I'd invest in the stock market. Open an account with Schwab or similar online firm, diversify by buying index funds or ETFs, and hold forever, or until you need the money.
Also study about risk/return and diversification. Leave the commodity trading to the people who have real commodities to sell or buy.
2007-08-27 15:26:51 · answer #4 · answered by Stamatios D 5 · 0⤊ 0⤋
The two most straightforward ways are through spread betting or exchange traded funds. The former is higher risk because you could end up losing far more than your initial investment, although will prove very profitable if you get it right. Gains from spread betting are also exempt from capital gains tax. Exchange traded funds track the price of commodities and are available for a wide range of individual and bundled commodity indices. Although still risky, this is likely to prove a safer route than spread betting. ETF Securities currently offers the most comprehensive range.
2007-08-29 05:23:35 · answer #5 · answered by Unbiased.co.uk 5 · 1⤊ 0⤋
Commodity futures are highly volatile and with the way futures leverage and margin work, they can wipe out beginners in the blink of an eye.
You might want to look into exchange-traded funds (ETFs) which track various commodity sectors. They are less volatile than futures contracts, though some of them are also subject to weird settlement rules (so be sure to read up on how they work before investing in them).
There are ETFs for oil, gold, agriculture, and others out there. Check sites like CME.com and CBOT.com for more information.
2007-08-27 14:44:40 · answer #6 · answered by andrewtrades 2 · 0⤊ 0⤋
If you've got good "technical analysis" skills and most important trading money management skills..... it's worth the consideration. If you've been successful at stock trading and perhaps Options (using different strategies & employing a good knowledge of the Greeks).. commodities can be the next step for you. I would be more inclined to start with FX. Each is incredibly dangerous (even to the experianced trader)... but I think FX would be a little easier to get going in.
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2016-05-03 07:52:13 · answer #8 · answered by ? 3 · 0⤊ 0⤋
Wrong term .. you say 'invest' .. if you are new to this game, the word you should use is 'gamble' (actually, 'loose' is even more accurate).
On the other hand, it's your money, spend it as you see fit .. currency trading can be more fun than the horses, especially as you can loose a lot more in a much shorter time ...
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2016-05-14 16:30:42 · answer #10 · answered by ? 2 · 0⤊ 0⤋
to be perfectly honest £20000 is not really enough to start commodity trading the fees and charges will whittle the amount down far to quick for you to able to trade at a profit you will require £20,000,000 to trade effectively.
and that is the most sensible answer you will ever get forget even trying
2007-08-28 02:40:16 · answer #11 · answered by Anonymous · 0⤊ 0⤋