There are many asset classes you can consider whenever you want to trade for a living. For instance, you can trade in stocks, currencies, indices or commodities. When planning to go into commodity trading, there are numerous key factors you have to take into consideration. First and foremost, you need to know that trading can be risky, so you have to learn to hedge your risks. Be sure to also choose a commodity you will be most comfortable with.
It is recommended you do a little bit of research online to learn about the various commodities you can trade in. The favorite for most traders is oil. However, coffee, gas and cocoa are also incredibly popular. You may also be interested in derivatives, such as futures and options related to these commodities. Before committing yourself, therefore, you should take time to practice using a demo trading account.
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