Anyone Here Do Commodity Trading or Forex Trading? I'm going to start doing research and start diversifying by investing or doing trading with Foreign exchange or commodities. I'm leaning more to Forex though>>> Do You have any Books That you would recommend?
Anyone Here Do Commodity Trading or Forex Trading?
- Thread starter Criptonite187
- Start date
Go to this chat. Quite a few people trade it there and they will be able to give you some insight also. You could probably do a search on the topic here because I know a couple people here to it.
That's a tough question bruh. Trading takes some time to learn. You have to know what type of trader that you are. For example, Do follow the charts, or news? If you follow the news ( or trade fundamentally), then you don't have to know much about the market other than how to buy and sell which is pretty easy. There are a number of free trading platforms that you can practice with............. I'm sure that you have found them already. You can get familiar with the system and go from there. If you want to learn complex trading stategies, and synthetic spreads etc. It will take you some time. You might as well get a series 3 brokers license exam book and study from that. The thing is, they won't teach you how to trade. All of these trading strategies for sale like forexmade easy and stuff like that are scams in my opinion. It not hard to make money in commodities and forex. It's taking the profit when you have it and cutting your losses short if you are losing. Keep it simple. Remember that an average account loses it's value in 6 months, regardless of the account size. If you were going to trade for real, I would look at Forex. At least you have an automatic stop, and protected account. They won't let you go into a margin call situation in Forex. I've seen margin calls happen all too often in commodities. Forex is the oppossite. Remember that there is no such thing as a free lunch. Only trade what you can afford to lose. I've seen 10k flip to 160k in 3 months. I've also seen 10k turn into a -160k overnight. Good luck
