Research The Key In Commodity Trading
Informed decisions by means of intense data gathering
, analysis yields superior results as compared to impulsive, ignorant choices. In similar lines, you can garner high returns in commodity trading with the aid of research on your target commodities, markets etc.Which Commodity to Trade in?
It is crucial to understand profiles of various commodities that are usually traded, their contract specifications, in which markets they trade, process of such trades etc. In general commodities traded in futures markets are:
Grains Soybeans, Corn, Wheat, Oats etc
Metals Gold, Silver, Copper etc
Energy Crude oil, Heating oil, Natural gas etc
Softs Cotton, Sugar, Coffee, Cocoa etc
Livestock Live cattle, Lean Hogs
Information about individual commodity classes particularly on industry of commodity, trading patterns, seasonal price fluctuations etc is a must for commodity traders.
Understand Commodity Industry:
Even without an active participation in commodity trading, we all possess certain basic information about commodities as they have been a part of our daily lives since ages. Products like Wheat, Sugar, Oil, Gold etc are used on a daily basis. However, commodity futures trading demands detailed knowledge of its business cycle, seasonality, price determination, risks involved in trading etc.
Research Reports:
Commodity research firms generally publish reports on various commodities in their daily, weekly publications. These reports present in-depth analysis, expert opinions on commodities and markets. Novice traders can get tips and techniques from such reports. You can also contact your futures broker for reports, newsletters etc.
General News:
Keep regular track of the general economic, financial news, market sentiment etc. Sources viz., Bloomberg, Futuresource etc are a good means to get daily update on commodities, futures and general market condition.
Based on the information gathered through the above sources, analyze the risks and returns involved in trading in a particular commodity(s) and as per your risk acceptance levels and financial targets. You can under the guidance of commodity broker, zero in on a single or more commodities.
Empower yourself with adequate information, analysis, predictions about various commodity markets to gain maximum benefit of commodity trading.
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