10 golden rules to always follow in commodity trading

10 GOLDEN RULES TO ALWAYS FOLLOW IN COMMODITY TRADING REDBOX MARKERTING

https://medium.com/@williamarrieta9/10-golden-rules-to-always-follow-incommodity-trading-4b3727f4a5e2

Commodity forex online trading is one of those trading styles that can get just as much risky as they can get profitable. Being a speculative trading market, commodity trading can be made more profitable and less riskier by sticking to certain golden rules for trading. These evergreen rules can act as a guiding light in difficult trading situations. Here are some of these rules that even the best commodity brokers recommend for commodity trading:

https://medium.com/@williamarrieta9/10-golden-rules-to-always-follow-incommodity-trading-4b3727f4a5e2

1. Never put all your funds into trading a single commodity. Unexpected global situations can cause a commodity price to drastically drop or rise. To avoid unpleasant surprises keep your portfolio diversified by investing in diverse commodities.

2. If your trade position is moving in a favourable direction, stay patient and let the gains grow. Pulling out too early from the trade can end up with you later regretting the decision. Maximising the gains requires you to be willing to take calculated risks.

3. On the other hand if your trade has hit a pre-determined stop-loss level, it’s time to pull out and move on to other opportunities. Don’t keep expecting a miracle to change the trade position around for better.

4. If you have some previous experience in stock market, don’t presume that commodity trading is going to be exactly the same. There are major differences between the two and they should be approached accordingly.

5. Choose one commodity trading company to follow, making sure that they are the best in the business, and adhere to their advices and guidelines for trading. The more commodity trading companies/advisers you look to for suggestions, the more confused you’re going to get.

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6. Don’t fall into the trap of making profits overnight. There are no short tricks to making money in commodity trading. It only takes consistency and discipline to earn profits.

7. Follow the market trends on a religious basis. Trends are essential factor in any long-term decision pertaining to commodity forex online trading. Keeping up with the trends is how you can ensure more stability and reduced risks in your trading.

8. You might feel tempted to talk about your open trade positions with others, if only to get their opinion on the same. But this is going to be a mistake! You’ll find that each of them has something different to say about your trading position. Their varying opinions will shake your own confidence in your trading position, even if it’s completely unwarranted.

9. Ideally, you should always use your own funds for commodity forex online trading and that too those that you know you can spare. If worst comes to worst, you might even lose all of the money that you’ve invested. You don’t want to end up being broke in such a situation.

10. If you’re in a trade that’s causing you to consistently lose money, exit immediately instead of borrowing money from others in order to keep holding on to the unprofitable trade.

https://medium.com/@williamarrieta9/10-golden-rules-to-always-follow-incommodity-trading-4b3727f4a5e2