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Online commodities trading

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rppearso
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Online commodities trading  Reply with quote  

Does anyone know if there is a scott trade or ameritrade type accounts that allow you to invest in commodities (gold, platnum, wheat, etc) as well as the traditional stocks or anuities, if I had an account set up I would have bought platnum last summer and wheat a few months ago.
Post Tue Sep 07, 2010 10:49 pm
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coaster
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I'm a client of MF Global and am satisfied with them. You cannot trade equities and futures out of the same account, though, I don't think; you need to have and fund separate accounts for each.

~Tim~
Post Wed Sep 08, 2010 3:08 pm
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rppearso
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Is that set up like a scott trade or ameritrade. I am not interested in futures. Equities I might be interested in, like ones you might find in a 401k or scott trade type account. I have a good nack for feeling out commodities and want to make some money but its hard to find a good online trading account that will allow it as well as all the other things that an account such as scott trade offers.
Post Thu Sep 09, 2010 8:00 pm
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kateoliver13
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I am not too familiar with trading futures on something you were trading.if gold silver or oil, you could delete using a stock broker online discount commercial basis. Moreover, this will give you the opportunity to take action, if you decide to do so. Depends primarily on who you are looking for business COMMODITES because not everyone will be monitored.
Post Fri Sep 10, 2010 5:28 am
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coaster
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quote:
Originally posted by rppearso
Is that set up like a scott trade or ameritrade. I am not interested in futures. Equities I might be interested in, like ones you might find in a 401k or scott trade type account. I have a good nack for feeling out commodities and want to make some money but its hard to find a good online trading account that will allow it as well as all the other things that an account such as scott trade offers.


Futures ARE commodities.

And you can trade futures on line as easily as equities.

I think you need to do a little more learning before you leap.

Just the opinion of someone who's been there done that, FWIW.

~Tim~
Post Sun Sep 12, 2010 6:05 am
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rppearso
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I may not be to up on the lingo but I have a nack for anticipating commodities like the oil price spike around 2006, when platnum prices sunk the summer of 09 and just recently when russia stopped exporting wheat to feed their own people. I just need a non confusing exchange medium like scott trade where I can have a bank of money and can just click on something I think it going to go up based on world events or on trends that I follow.
Post Tue Sep 14, 2010 6:52 pm
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coaster
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TD Ameritrade has exactly what you describe you're looking for.

Having a "knack" in hindsight is a whole lot different than acting on it in real time and with real money.

~Tim~
Post Thu Sep 16, 2010 3:24 pm
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rppearso
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Yea thats true but I figure I am never going to get where I want to be in any sort of timely fasion in life just by working so I have to take some risks (getting a hangar and a nice pitts S2C and learning to fly acrobatics). Platnum was so low it was a gaurenteed win I just dident have the money at that time and I dont like paying metal brokers out ragious commissions to buy the acutal metal, its like 50$ for one oz of gold, 5% commission is way to high (this was when gold was 1000$ an oz). Then when they buy it back, they buy it way under spot and dont distinguish between different types of coins and gold content (like 300$ premiums on 5 9's purity gold maple leaf) because they dont have to so its a bit of a racket.

So TD ameritrade allows you to buy commodities (like gold, platnum, oil, wheat, etc), as well as penny stocks, anuities or other stocks?
Post Thu Sep 16, 2010 6:37 pm
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Jammy
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MF Global  Reply with quote  

MF Global is perfect for this. I would recommend them for it.
Post Fri Sep 17, 2010 8:16 am
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coaster
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quote:
Originally posted by rppearso
So TD ameritrade allows you to buy commodities (like gold, platnum, oil, wheat, etc), as well as penny stocks, anuities or other stocks?

Oh, dear. Well, yes. But it's going to be a heck of a long time till you can get that Pitts unless you get some focus and discipline (kind of like what it takes to do aerobatics)

~Tim~
Post Sat Sep 18, 2010 7:38 am
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oldguy
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quote:
So TD ameritrade allows you to buy commodities (like gold, platnum, oil, wheat, etc), as well as penny stocks, anuities or other stocks?


Sure, not a problem. My commody trades were in corn futures. Also used SP500 options futures. And penny stocks, I bought the 'pennies' thru a Discount Broker. I'm pretty certain that you don't want annuities, they are for senior citizens and sold by life insurance companies. You could try Spyders (SPY) as well as the two-for-one leveraged Spyders (SSO).

But I think derivatives would be more to your liking - you can buy a 'call' option on a stock that you think will go up quickly. Or do the opposite, buy a 'put' option on a stock that you think will go down. You can trade way more shares with more leverage than by just buying stock. Eg, shares of GE cost $16. But you can buy in-the-money 'put' options for under $1, you could trade several thou shares. And it's kinda fun.
Lots of info available, several books at your library on options trading, brokers have free pamphlets, or google oprions, derivatives, etc.

quote:
Yea thats true but I figure I am never going to get where I want to be in any sort of timely fasion in life just by working so I have to take some risks (getting a hangar and a nice pitts S2C and learning to fly acrobatics).


Never going to get there by working huh? I became wealthy after I QUIT most of the stuff that I listed above - and started using incremental accumulation of Index Funds and Spyders on an engineers salary. It doesn't take all that long to grow a million if you put your math skills to work.

And your goal is pretty modest - most anyone with a steady job can swing a pitts, $100k gets a decent one.
Post Sat Sep 18, 2010 10:51 pm
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Jackie101
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In order to trade commodities, you will need the assistance of a commodity broker. Today, most brokers offer an online trading facility; however, there are some that specialize only in e-trading or online trading. It is important that you choose a good, experienced and reputable online commodity broker that gives you good advice besides having an intuitive trading platform with relevant charts, reports, quotes, and strategy analysis. Your broker must also give good service and charge you low commission. One of the good brokers are UFX Bank.
Post Wed Sep 22, 2010 6:18 am
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rppearso
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quote:
Originally posted by oldguy
quote:
So TD ameritrade allows you to buy commodities (like gold, platnum, oil, wheat, etc), as well as penny stocks, anuities or other stocks?


Sure, not a problem. My commody trades were in corn futures. Also used SP500 options futures. And penny stocks, I bought the 'pennies' thru a Discount Broker. I'm pretty certain that you don't want annuities, they are for senior citizens and sold by life insurance companies. You could try Spyders (SPY) as well as the two-for-one leveraged Spyders (SSO).

But I think derivatives would be more to your liking - you can buy a 'call' option on a stock that you think will go up quickly. Or do the opposite, buy a 'put' option on a stock that you think will go down. You can trade way more shares with more leverage than by just buying stock. Eg, shares of GE cost $16. But you can buy in-the-money 'put' options for under $1, you could trade several thou shares. And it's kinda fun.
Lots of info available, several books at your library on options trading, brokers have free pamphlets, or google oprions, derivatives, etc.

quote:
Yea thats true but I figure I am never going to get where I want to be in any sort of timely fasion in life just by working so I have to take some risks (getting a hangar and a nice pitts S2C and learning to fly acrobatics).


Never going to get there by working huh? I became wealthy after I QUIT most of the stuff that I listed above - and started using incremental accumulation of Index Funds and Spyders on an engineers salary. It doesn't take all that long to grow a million if you put your math skills to work.

And your goal is pretty modest - most anyone with a steady job can swing a pitts, $100k gets a decent one.


I set up a TD ameritrade account for now and I will have to get a book on what you are talking about, I took engineering economics but that was mainly just time value of money it did not get into the specifics of trading. With TD ameritrade I can buy things like BPT prudhoe bay trusts which pay dividends etc.

I would definitly like to put my math skills to the test and make some money, if I could get that pitts (and the proper training lol) I would be on cloud nine, they are about 70-100k with the economy the way it is I have seen them come down to 70k for pretty nice ones. I cant trade in futures because I do not have 10k in collateral and that is a little outside of my comfort zone, I have found the stock tickers for the commodites without doing a futures trade though, just basicly buying platinum, gold etc, I would really like to look into things like north dakota land trusts so I can make money on natural resoruces regardless of who is developing them, if possible I would like to stay away from investing in individual companies unless I know alot about them.

I will have to research the bolded part.

A pitts is not impossible to attain on my wages but looking at my disposable income and the cost of the plane (assuming no investing) it would take me to my mid 30's to buy one and then im looking at big money for a hangar. So I am going to do some homework and see if I can make this investing thing work.

Hmm some of the spyders look like some of the options in my 401k which did not do so hot in 08, I acutally pulled most of my money out of things like that in early 08 to minimize the hit to my 401k, lots of people lost alot of money and I lost like 100$ and still have like 15k in there.

I think I need to find myself a mentor IRL


Last edited by rppearso on Mon Sep 27, 2010 6:16 am; edited 1 time in total
Post Mon Sep 27, 2010 6:05 am
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rppearso
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quote:
Originally posted by coaster
quote:
Originally posted by rppearso
So TD ameritrade allows you to buy commodities (like gold, platnum, oil, wheat, etc), as well as penny stocks, anuities or other stocks?

Oh, dear. Well, yes. But it's going to be a heck of a long time till you can get that Pitts unless you get some focus and discipline (kind of like what it takes to do aerobatics)


Could you please elaborate on what kind of discipline and focus I need or what deficancys you see?
Post Mon Sep 27, 2010 6:09 am
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coaster
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It's just the sense I get from your words that you haven't traded and aren't aware of what it's like psychologically-speaking to put real money at risk. You can have the greatest "knack"; you can have the greatest "system"; but until you put your own real money at risk; at risk of losing it; then you don't know how you're going to react. If you don't understand your own psychology and how you react to loss, then you're predisposed to fail. Having a plan, and having the discipline to follow a plan, and knowing how you're going to deal with your emotional attachment to your money, will predispose you to success.

~Tim~
Post Mon Sep 27, 2010 3:33 pm
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