CFD commodity Trading for a newbie

C

chameleontrader

Hi,

I have been trading stocks quite succesfully for 6 months (100% ROI annualised) and now want to get started with commodities.

My trading style is a mixture of technical and fundamental.
I read the great the great book from Jim Rogers, but now wonder if somebody has some further insights and links for me.

Q1) Should I focus on one material or two or more?
Q2) Which Indices should I follow?
Q3) Which news should I follow in particular?
Q4) Which books should I read - except the one from Rogers?
Q5) Which threads on elite should I read?

Many thx in advance.

P.S. I hope this is the right category, because it says futures & commodities, but I'm interested in CFDs only.
 
So, you're really up ~50% the past six months? Anyway, If you're doing that well, you don't need to waste your time accumulating additional news and information. Just keep executing your system. As you do better, you'll want to avoid CFD's. You can trade other instruments more cheaply.
 
Quote from nazzdack:

So, you're really up ~50% the past six months?
More...

29% in 128 days that is. The year before was about 15%.

Quote from nazzdack:

Just keep executing your system.
More...

I use a rather simple technical approach with some fundamental analysis. What the fundamental approach concerns I am looking for some further links and insights, because I transfer my fundamental knowledge of the stock market to the commodities world.

Quote from nazzdack:
As you do better, you'll want to avoid CFD's. You can trade other instruments more cheaply.
More...
I've heard one needs at least 10-20k$$ for futures. Is that correct?
 
Quote from chameleontrader:

What the fundamental approach concerns I am looking for some further links and insights, because I transfer my fundamental knowledge of the stock market to the commodities world.
More...

Most traders that turn from stocks to futures/commodities experience a transition period which could be both long and expensive, as they find that their prior methods in equities just don't translate over to other markets. Trading small-mid cap stocks is pretty much a different planet compared with crude, currencies, metals etc. Good luck, but take things slow.
 
Quote from chameleontrader:

Hi,

I have been trading stocks quite succesfully for 6 months (100% ROI annualised) and now want to get started with commodities.

My trading style is a mixture of technical and fundamental.
I read the great the great book from Jim Rogers, but now wonder if somebody has some further insights and links for me.

Q1) Should I focus on one material or two or more?
Q2) Which Indices should I follow?
Q3) Which news should I follow in particular?
Q4) Which books should I read - except the one from Rogers?
Q5) Which threads on elite should I read?

Many thx in advance.

P.S. I hope this is the right category, because it says futures & commodities, but I'm interested in CFDs only.
More...

anyone who is able to make 100% would be foolish to try to move to another trading vehicle. the learning curve can be expensive and whats the point if you can already make more than 99% of traders.
 
For a very specific technical approach that might be true, but if you have a succesfull general technical approach it should work in every mass market. Or perhaps not; that is only a hypothesis.

The markets have a relation, so it is natural for me to find out more about all major markets. I think my trading can only improve if I keep going on learning about other markets.
 
Quote from chameleontrader:



I've heard one needs at least 10-20k$$ for futures. Is that correct?
More...

It depends on the commodity. Hunt up the CBOT web site and browse around.

It is a different world. 1 cent is not a cent as in stocks, but can be $50 or $1,000, depending on the commodity, margin is not margin as you know it, and "limit up" or "limit down" can cause great grief to the under-capitalized.
 
chameleontrader, (like your handle)


If it works don't fix it....100% per year in the retail trading of equities makes you a finely tuned trader.

I am a creative trader and I battle with the same needs you have. Diversifying and creating is when I am most high. My goal is to trade every inhstrument and every exchange...

BUT...

Listen to these seasoned traders here and believe them when they say stick with it and continue making your 100%. Leverage is not necessarily your answer at your level.

Michael B.
 
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