Best Commodity Tips Provider In India
A commodity is a group of assets or things that are essential for daily life such as food, energy or metals. By nature, a commodity is exchangeable. A commodity is any asset or thing that can be bought or sold.
In India, the history of commodity trading goes back to ancient time. Commodity trading in India was started very earlier in comparison to other countries.
In ancient times, people exchange their commodities to fulfill their needs.
If you want to invest in the commodity market and searching for commodity tips provider, then you are in the right way. First Adviser provides you with the best commodity tips.
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Most Common Traded Commodities
Before start trading in the commodity market, one should have knowledge about the most commonly traded commodities. Here is the list of some common commodities trading in the market:
The world’s most in-demand commodities are crude oil as it can give valuable products including petrol, diesel, and lubricants, along with many petrochemicals that are used to make plastics.
An iron alloy containing carbon from as low as 0.03 percentage (as in ingot steel) to 2.5 percentage by weight (as in cast iron), and varying amounts of other elements such as chromium, manganese, and silicon depending on its end use. It is one of the most common trading commodity.
Soybeans are an important commodity because they are rich in protein and relatively cheap to produce. From soyabean, we get a variety of food and agricultural products and, also biodiesel. The demands of animal feed, biodiesel, and meat and dairy substitutes affect the prices of Soybean.
Iron ores are the mixtures of rocks and minerals from which metallic iron can be economically extracted. These ores are usually rich in iron oxides and vary in colour from dark grey to rusty red. 98% of the iron ore is used for making steel. It is one of the common commodity for trading.
Gold is a metal having soft bright, dense, soft, malleable, and ductile properties with a slightly reddish yellow colour.
In the 20th century, with an instant growth of economies and increasing foreign exchange, the gold reserves of the world and their trading market have become a small fraction of all markets and gold became a highly traded commodity.
Best Commodity Tips Provider In India
Another important factor to become a good commodity trader and to gain profit, always choose a good commodity broker. Here are some tips for selecting a good commodity broker:
Local Commodities Broker
Prefer to choose a local commodity broker. However, many traders use only the phone or the Internet to perform their commodity trading business and never meet their broker.
Search Broker In Online Commodity Broker Directories
In fact, many online directories are available where you can find hundreds of listings of commodity brokers. The site lists commodity brokers with addresses, phone numbers, websites, complaint histories, years in the business and some background information.
Before Finalizing Any Broker, Check Regulatory Violations
Make sure commodity brokers have a license from the National Futures Association and pass the Series-3 exam. Also, it is a good idea to look at any individual broker or firm you are going to consider on the NFA website to make sure that they are registered and that they have a clean record.
Tips For Trading In Commodity Market
Trading in commodities is always showing to be the largest fortune generator across the world. Many traders lose money and have a loss due to lack of giving enough time, and planning.
Do Not Share Your Share Trade Position
In fact, do not discuss your open positions with everybody. This will simply result in confusions and leave you with nothing, given that everyone would voice their own opinions regarding the same – even without enough knowledge.
Keep Separate Your Stock Trading Ideas
Avoid using ideas of stock market trading in commodity trading. Although both trade markets are speculative, there is a major difference between the two.
In fact, always keep in mind that there will be small losses and gains in the starting of trading, and even a few big setbacks on some days.
Take Guidance From Single Analyst
One should follow the guidance of only one technical advisor or analyst at one time. In fact, the more the guidelines you get, the more confusing it will be for you.
Do Not Trade With Borrowed Fund
However, do not trade or borrow with funds which are not your own. Trading in commodities is brimful of risks and making losses in trades.