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Picking a commodity to research
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Picking a commodity to research

  #1 (permalink)
Membership Temporarily Revoked
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Picking a commodity to research

Hello all

First post here, I want to begin my trading career and decide on a commodity to research and learn how to trade.

I googled the top ten most traded commodities in the world but I'm not sure what practical information I can get from that.

Any suggestions?


Last edited by NoobyTrader; December 17th, 2014 at 06:06 AM. Reason: addition
 
  #2 (permalink)
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  #3 (permalink)
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Start with this webinar "Where to start":

https://futures.io/webinars/jan14_2012/where_to_start_part_1/

Then read this thread in its entirety. There is no better place to start in my opinion, having been answering this question for over 5 years now.

https://futures.io/elite-circle/11125-ask-any-trading-question.html

Mike

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3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
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  #4 (permalink)
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Ok

Becoming an elite member on this forum looks like somthing I will do, but $100 is a lot of money to me right now. As of now I have less than $100 expendable cash that I wanted to open a trading account with.

Since I'm completely new, how will I know becoming an elite member will really help me? Is there any way I can be given a week or so of trial elite membership?

 
  #5 (permalink)
Site Administrator
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NoobyTrader View Post
Becoming an elite member on this forum looks like somthing I will do, but $100 is a lot of money to me right now. As of now I have less than $100 expendable cash that I wanted to open a trading account with.

Since I'm completely new, how will I know becoming an elite member will really help me? Is there any way I can be given a week or so of trial elite membership?

I will save you the time and money and say that your time is better spent on another hobby if you have less than $100. Take your girlfriend to dinner and if you have money left over, to a movie. It will be a much better memory most likely...

The only way to make money in trading is if you have money. In practice, a lot of money. Many good brokers won't even open an account with less than 10k, and those that do accounts for $500 or so are the ones to avoid at all costs.

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

The following 2 users say Thank You to Big Mike for this post:
 
  #6 (permalink)
Membership Temporarily Revoked
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I broke up with my girlfriend to save up to get in the market, no going back now. I find it hard to believe it's impossible to start with a small amount of money and work it into a larger amount of money when there's people out there taking somthing like a paper clip and trading it up gradually into a yatcht. I'm not giving up that easy, c'mon give e somthing to work with, anything. What would YOU do(in the market) if you had your knowledge and nothing but $100? I mean, $100 will buy 1000 pennie stocks, 1000 is a big number which is at the very least a step in the right direction right?

 
  #7 (permalink)
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NoobyTrader View Post
I broke up with my girlfriend to save up to get in the market, no going back now. I find it hard to believe it's impossible to start with a small amount of money and work it into a larger amount of money when there's people out there taking somthing like a paper clip and trading it up gradually into a yatcht. I'm not giving up that easy, c'mon give e somthing to work with, anything. What would YOU do if you had your knowledge and nothing but $100?

Put it in an ETF or Mutual fund and get a job...

If you deposited $100-$200 a month from your job in said fund you will do much better then if you tried to trade it.

 
  #8 (permalink)
Site Administrator
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NoobyTrader View Post
What would YOU do if you had your knowledge and nothing but $100?

Have a nice steak and a bad bottle of wine and call it a night. Move on.

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

The following user says Thank You to Big Mike for this post:
 
  #9 (permalink)
Membership Temporarily Revoked
Arcata, Ca.
 
Futures Experience: None
Platform: OptionsHouse
Favorite Futures: futures
 
Posts: 6 since Dec 2014
Thanks: 0 given, 0 received


Big Mike View Post
Have a nice steak and a bad bottle of wine and call it a night. Move on.

Mike

One grass-fed organic humboldt county filet mingon - $12

One bottle of Chateau ste Michell Cabernet - $10 (from my friends at the winery)

I still got $78 dollars to trade with.

 
  #10 (permalink)
Elite Member
Austin, TX
 
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NoobyTrader View Post
One grass-fed organic humboldt county filet mingon - $12

One bottle of Chateau ste Michell Cabernet - $10 (from my friends at the winery)

I still got $78 dollars to trade with.

$100 should last you about 2 hrs with penny slots in Vegas... That would be more fun.


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