Commodity Traders

[guyh]

Do we have any on here? Been looking into it, seems highly risky but the returns look tempting.

Guy

[Retard]

You could give the money to the world food program instead.

[LeTim]

guyh said:

Do we have any on here?

There are some yes.

guyh said:

seems highly risky .

It is, many commodities exhibit volatilities far, far higher than equities or FX.

guyh said:

but the returns look tempting.

It's very easy to get your fingers burnt.

Have a read of Jim Rogers book "Hot Commodities" ....and "Remeniscenses of a Stock Operator".

There are a number of commodity funds, more all the time that might be the best bet.

Oh there's a good site www.commodities-now.com. They publish a good quality quarterly magazine too.

[guyh]

LeTim said:

guyh said:

Do we have any on here?

There are some yes.

guyh said:

seems highly risky .

It is, many commodities exhibit volatilities far, far higher than equities or FX.

guyh said:

but the returns look tempting.

It's very easy to get your fingers burnt.

Have a read of Jim Rogers book "Hot Commodities" ....and "Remeniscenses of a Stock Operator".

There are a number of commodity funds, more all the time that might be the best bet.

Oh there's a good site www.commodities-now.com. They publish a good quality quarterly magazine too.

Excellent thank you for the info.

Guy

[NewNameNeeded]

LeTim said:

....and "Remeniscenses of a Stock Operator".

I love that book!

[shadowninja]

Really? Like... best book ever?

I thought it was interesting and an eye-opener.

[NewNameNeeded]

shadowninja said:

Really? Like... best book ever?

I thought it was interesting and an eye-opener.

Far from best book ever. But a nice story and most of what is said in it is so obvious but so very true as well. And I love the rollercoaster ride he goes on - ignoring or forgetting the key things and getting burnt because of it. I certainly know there have been occasions I've suffered that!


I've heard Market Wizards is good - is this so?

[Lynx21]

I've got market wizards. Worth a read...

[shadowninja]

Hm, he just kept risking his entire balance, which is a bit crazy. I guess greed overcame him hence going back to zero several times?

[NewNameNeeded]

shadowninja said:

Hm, he just kept risking his entire balance, which is a bit crazy. I guess greed overcame him hence going back to zero several times?

Exactly. I know of occasions in the past when I've done that. Been just shy of a P&L I like the sound of in my head and so ignored the signs that suggest now is the time to get out and take the profit I've made. Instead I've held on in an attempt to reach a P&L number that has no market basis whatsoever, and I've ultimately given back much of the gains I made over the day or week or whatever.

[LeTim]

NewNameNeeded said:

LeTim said:

....and "Remeniscenses of a Stock Operator".

I love that book!

Hmmm Matt....get that new names sorted, NewNameNeeded is a bit of a mouthful!

beer?

[shadowninja]

NewNameNeeded said:

shadowninja said:

Hm, he just kept risking his entire balance, which is a bit crazy. I guess greed overcame him hence going back to zero several times?

Exactly. I know of occasions in the past when I've done that. Been just shy of a P&L I like the sound of in my head and so ignored the signs that suggest now is the time to get out and take the profit I've made. Instead I've held on in an attempt to reach a P&L number that has no market basis whatsoever, and I've ultimately given back much of the gains I made over the day or week or whatever.

Is that how he did it? I thought he just stacked up too much into everything going one way, to find out he was wrong. Curiously, in a book that analysis Reminiscences, it says that Jesse Livermore took profits when the market made it available to him, which avoided your problem.