Anybody trade in commodity futures, or done it? How was your experience? Did you make bank, or lose more than your investment, or somewhere in between?

I am currently practicing on a demo account on one of the widely used platforms. Started 2 days ago, already at $2.7k profit on a $11.3k investment

Have already funded my actual account on the same platform, and will start trading in about 2 weeks once I have had enough practice. Been studying it for a couple of months now, and have attended a couple of workshops/training sessions on it, so am feeling confident.

2/19/2014 11:56:14 AM

Watch the movie Trading Places. you'll learn all you need to know

or hell, this scene is probably sufficient.




but really though, great movie.


Also, I'd recommend listening to this podcast: http://www.npr.org/blogs/money/2013/07/09/200401407/episode-471-the-eddie-murphy-rule

[Edited on February 19, 2014 at 12:06 PM. Reason : . ]

2/19/2014 12:03:22 PM

^ havent seen the movie, but i watched that clip and listened to the podcast just now. thanks.

i know all of that already, except for the part that insider trading was not strictly against the law in those days! thats pretty insane.

2/19/2014 1:17:21 PM

bought the following at the same time exactly 2 days ago:

one contract copper (25,000 lbs), for $3,300
one contract heating oil (42,000 gal), for $4,015
one contract japanese yen (12.5 million yen), for $3,465

current positions:

copper: +$2,850
h. oil: +$1,512
j. yen: -$538

total investment: $10,780

NET profit: +$3,824

Profit margin over 2 days: 35%

(copper is at 86% profit!!!)

(btw, I didn't buy those contracts, I sold them, i.e., first when price is high, buy later when price is low... now just wondering when to close my positions, wait another day, or close now to secure my profit...)

3/12/2014 8:13:17 AM

Close now, and prepare to pay the high short-term capital-gains tax.

3/12/2014 9:58:05 AM

no tax, not in the US

all i pay is $25 per trade (paid 75, will pay another 75 when closing)

3/12/2014 10:08:26 AM

Why the yen?

3/12/2014 10:49:28 AM

what's your leverage sitting at? Margin req?

3/12/2014 3:30:49 PM

^^I guess he fiddles in forex, not just commodities.

^^^What third-world tax haven do you live in that doesn't have capital-gains taxes?

3/12/2014 7:11:07 PM

I've played with materials and currencies, but I like ETFs so I can generate income on options even when it's flat, which they often are.

3/12/2014 11:19:13 PM

^^ My guess is

http://en.wikipedia.org/wiki/Taxation_in_the_United_Arab_Emirates

3/13/2014 10:58:53 AM