What lesson did you learn today?

Handle123 said:
Never to trade Iron Ore, I don't believe this has high enough open interest to get involved in which makes it way too risky. Is it only traded in China? The only charts I find have very spotty data and many gaps.

I lean on the side of checking top ten of markets that have lowest losing percentages and adding more lots or shares to have higher exposure than branch out into markets that know very little about. Of course I can be wrong and they heavily traded in China?
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Despite being the largest producer of iron ore, China is also the world’s largest importer of iron ore. Chinese iron ore is of an inferior grade compared to other major producers around the world. According to a report by HDRSalva, the average iron ore grade mined in China has a Fe content of around 17-20%, compared to a standard 62% worldwide. In 2013, China produced more than 1Bt of iron ore, which is equivalent to only 325Mt of 62% Fe grade iron ore.

Australia is the largest producing country of quality iron ore.
Currently the three largest iron ore producers in Australia are Rio Tinto, BHP Billiton and Fortescue Metals Group which accounted for around 90% of Australia’s iron ore production in 2014.
 
themickey said:
Despite being the largest producer of iron ore, China is also the world’s largest importer of iron ore. Chinese iron ore is of an inferior grade compared to other major producers around the world. According to a report by HDRSalva, the average iron ore grade mined in China has a Fe content of around 17-20%, compared to a standard 62% worldwide. In 2013, China produced more than 1Bt of iron ore, which is equivalent to only 325Mt of 62% Fe grade iron ore.

Australia is the largest producing country of quality iron ore.
Currently the three largest iron ore producers in Australia are Rio Tinto, BHP Billiton and Fortescue Metals Group which accounted for around 90% of Australia’s iron ore production in 2014.
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Did you say open interest is high in Iron Ore?
 
That most of the predicaments we get ourselves into could have been avoided...

- Humility and humbleness above everything else
- Every day I learn to forgive those who don't deserve to be forgiven. I'm not perfect, nor are
they. It feels better to forgive. Life is short...
- Your dog probably does love you more than anyone else
- Don't say things you don't mean
- Don't say things that will hurt someone or incite an argument
- Hedge your bets
- Etc.
 
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Handle123 said:
Did you say open interest is high in Iron Ore?
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I'm not trading the futures but stocks.
FMG (Fortescue) for example in the past 12 months at its peak gained approx. 115%.
In my opinion, this is a good play as it's a niche market.
 
Partial line item quote from wave
Your dog probably does love you more than anyone else
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TRIBUTE TO A DOG


The one absolutely unselfish friend that man can have in this selfish world.
The one that never deserts him, the one that never proves ungrateful or treacherous, is his dog.

A man's dog stands by him in prosperity and in poverty, in health and in sickness.

He will sleep on the cold ground, where the wintry winds blow and the snow drives fiercely, if only he may be near his master's side.

He will kiss the hand that has no food to offer.

He will lick the wounds and sores that come in encounter with the roughness of the world.

He guards the sleep of his pauper master as if he were a prince, when all other friends will desert, he remains.

When riches take wings and reputation falls to pieces, he is constant in his love as the son in its journey throughout the heavens.
 
I watched an interview given by Ray Dalio, partly about how he went broke in 1982 and that was the best thing that had ever happened to him. He said it taught him to ask HOW he knew something.

That is what I learnt to do today.
 
Visaria said:
I watched an interview given by Ray Dalio, partly about how he went broke in 1982 and that was the best thing that had ever happened to him. He said it taught him to ask HOW he knew something.

That is what I learnt to do today.
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Can you give an example? Not sure what this means. Thx.
 
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