Newbie in commodities trading

[bluelabel]

Hello all,

Just wondering as a newbie, how does buying and selling commodities work?

Just say i wanted to buy an ounce of gold or a barrell of oil, how does this work? and is some dude gonna rock up to my joint at 3 in the morning and dump a barrell of oil in my driveway if i do buy a barrell?

:bier:

blue

 

[Jikx]

I actually bought a stock with the ASX code "GOLD". Basically, gives you a 1/10 share of an ounce of gold held in a bank in the US. Easiest way to get into it. Definitely the only glimmer in my portfolios sea of red ..

Someone with a bit more knowlege can detail you on other aspects (futures, contracts), I'm not too familiar with them unfortunately.

 

[bluelabel]

Hi again,

thanks for the reply, but that is actually a company that sells 1/10th shares in ounces of gold. i am talking about the actual bar itself, not a company. If i want to buy an ounce of gold on the market how do i do it?

:bier:

blue

 

[tech/a]

Maybe of help.

I know Nick Radge has a course on Futures as well.
With the benifit of if you do it you can ask him questions.

http://www.rb-trading.com/begin.html

 

[jersey10]

Maybe of help.

I know Nick Radge has a course on Futures as well.
With the benifit of if you do it you can ask him questions.

http://www.rb-trading.com/begin.html

tech,

do you have a link to Nick Radge's futures course. I can't find it on the chartist website.

 

[Trembling Hand]

The Futures contracts are probably to big to start trading in for anything less than short term and then only with big accounts (no less than $50,000 or greater)

Best to look for ETFs rather than futures.

 

[Page]

Yes you can buy but you have to pay some margin............... for both the commodities.

 

[Ageo]

Hi again,

i am talking about the actual bar itself, not a company. If i want to buy an ounce of gold on the market how do i do it?

:bier:

blue

Must have missed this, to buy physical bullion you will need to buy it from either a bullion house or a gold refinery. Where abouts you located in Australia (and no your not at my mums place as im here atm )

 

[MRC & Co]

Investopedia tutorial will explain futures fine.

If you can be bothered to spend 20 minutes reading it.

 

[bluelabel]

Investopedia tutorial will explain futures fine.

If you can be bothered to spend 20 minutes reading it.

Thanks for the tip, its a useful site, however there is one problem, i cant really find the right bit on futures, do you have a specific link i should look out for?

Thanks,

:bier:

blue