Your decision to start learning to trade commodities will give you a completely new insight into the whole world of commodity futures trading. This could be within a specific sector such as grains or precious metals or perhaps across the whole spectrum of global commodity markets. Now doubt you have heard concerns about energy security and the crude oil trade on the New York Mercantile Exchange, and of how the price fluctuations can be caused by a whole range of factors. And what causes price movements in gold, silver and other precious metals and why should cocoa or coffee futures prices suddenly surge?
These are exciting markets to study, so finding a top quality commodities training provider is so important. How do you go about learning to trade commodities? What are the key areas you need to master with confidence so that you feel comfortable entering the global commodity markets? Firstly, if you are learning to trade commodities find where to do the commodity trading courses that may be on offer. Either start your commodity education at home using study materials with an online training package or attend a top quality trading school where students cover all aspects of commodities and futures.
Why should you choose to go to a commodity trading school? One advantage is immediate face to face contact with your coaches and you might be able to have one to one coaching. Your tutors may well have real world trading experience under their belts, and may indeed still be active commodity traders. If so you will really want to use their knowledge to the full. Also you can share thoughts with colleagues as you network with them after the course.
Learning on location lets you watch and learn from live trades with your coaches, who may trade in real time as you look over their shoulder. This is valuable as it helps to explain in a live setting what you may have learnt in elsewhere in theory. Such examples are valuable as they bring a real, sharp edge to your commodity trading education, and the tutors will help you as you create a personalised commodity trading plan. With the growth in trading centres, training providers now have locations globally and you may find one close to you, such as in London, Singapore, Dubai and Toronto, as well as major US centres such as Washington, Philadelphia, Chicago and New York.
What are the advantages of online commodity trading packages? Sometimes your location or commitments make it impossible to attend a physical location. So why not try an online training package featuring technical and fundamental aspects of commodity trading, which provide greater flexibility with your work schedule.
The online commodities trading packages most likely provide students with e mail support from the tutors along with resources like charts, blogs, forums and video to supplement the main material. Along with CDs and DVDs software may also be downloaded so students can link up with the markets and trade without committing capital.
What is likely to be covered when you begin learning to trade commodities? Expect to look at effects of supply and demand on commodity prices in fundamental analysis, which considers the effects of wars, inflation and the economic cycle. Technical analysis is also important and includes understanding indicators on commodity charts, such as support and resistance, Fibonacci, moving averages, Japanese candlesticks and volumes of trade, which act as signals for when to exit and enter a trade.
The course is likely to show you what a commodity futures contract is and how easy it is to trade electronically, how you place your futures order and set your commodity futures margin, as well as understand how hedging in commodity trading works. The whole area of risk management and preservation of capital is also an important aspect of learning, as is the psychology of trading and having a commodity trading plan. All these basic areas will be covered when you start learning to trade commodities.
Ebele Kemery is a Commodities Leader with a track record of consistently profitable trading efforts and has expanded business through understanding of client needs and developing customized solutions that leverage a wide variety of techniques and market intricacies. Ebele is also a Member of the Editorial Advisory Board of the Global Commodities Applied Research Digest, and fulltuition scholar from toptier University possessing a Bachelors of Engineering in Electrical Engineering.
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