This article is all about trading commodities for big profits and how to make money fast.
We will outline the best method and the best commodities to enable you to have big profit potential, so lets get started.
Commodity trading covers a variety of areas including currencies, stock indices, energies bonds and a variety of soft commodities.
1. Commodity Trading - Your method
Look at any chart of any commodity, you will see trends and it these trends you want to lock into and trade for profit.
The best way to do this is with a technical trading system and you should be looking to trade the longer term trends as these yield the biggest profits.
There are lots of good trading methods, but the most important point to keep in mind is you need to understand the method and why it will work and have confidence in it.
Many traders simply buy computer systems they dont understand, or try and follow an advisor or broker. If you do this you will probably lack confidence and when loses come you will deviate from the method.
The biggest attribute a trader can have is discipline.
You need to have it to apply your method. If you dont, you really dont have a method at all.
2. Commodity Trading Best markets to trade
There are two key factors in deciding what markets to trade and they are - Trending nature and liquidity.
While all commodities trend, some tend to offer better, more consistent trends than others. Market sectors that offer good reliable trends include Currencies, energies and interest rates and these are great for all traders.
They also offer high liquidity, which means trades can be entered and exited quickly, to lock in profits or liquidate losing trades.
Many commodities have low liquidity and erratic trading patterns and these should be avoided.
3. Commodity Trading Diversification
If you want to make money fast DONT diversify too much. Stick to one or a few areas only. Diversification dilutes profit potential. If you have confidence in your method dont diversify across to many sectors.
4. Money Management - Risk
If you want to make money fast then you need to take risks. Commodity trading offers great profit potential, but with reward goes risk - Its as simple as that.
On small accounts those below ($100,000) you have to risk more because you have small equity and your risk per trade needs to be higher.
If you have an account of $25,000 and you risk 2% (as many experts will tell you) you are risking $500.00. Chances are you will get stopped out a lot of the time and take a string of losses.
Many traders try so much to restrict risk; they end up creating it - As they are simply not taking enough of a risk to win.
When trying to build equity fast be selective in your trades and be prepared to risk up to 10% per trade.
5. Commodity Trading - Success has U in it!
If you want make money fast in commodity trading you need to take responsibility for your trades. Many losing traders blame everyone else the system they have market conditions the wife and many more.
However winning traders take responsibility they know that they can get systems and knowledge elsewhere but its up to them to apply the tools for profits.
To make money fast you need knowledge, a robust trading method you have confidence in, the discipline to apply it rigidly and the appetite to take calculated risks to reach your goals.
Approach commodity trading with the right attitude and you could make money fast and pile up big profits consistently.
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