07-28-2008, 08:46 PM
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Tastykake Maker
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Join Date: Feb 2008
Posts: 330
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Quote:
Originally Posted by sugarcoma
I have an interest in futures, I watch what happens in the markets, etc., and have my eye on one in particular, maybe two or three others, but have no idea how to get started.
Do I have to have a broker? I'd rather not. I've done plenty of other things that people use mouthpieces like lawyers, (no offense to lawyers, they are necessary for some things,) for, and I'd like to know how I'd get started on my own.
I don't need to know what to invest in, just how to proceed, rules, etc.
Thanks in advance for the money I will make as soon as I find out how to get into the market.  |
There's a few ways you can go.
You can go the dumb way, i.e. trade on margin. The vast majority of people who do this lose all their capital in about 3 months.
To do this, get a margin account with a broker or an FCM (there are many, RJO is one of the better FCMs), and lose your money by subscribing to a few exchanges and trading with their platform online.
The other way is to invest in an ETF or ETN. ETNs have a very different tax structure than ETFs so you'll have to look into that on your own. There are many ETFs in which you can invest, here's a list of some.
I would also suggest that you read Jimmy Rogers' book 'Hot Commodities' before you get started.
Be advised that you can expect 40% swings in the market in commodities – that is normal and playing these markets is not for the faint of heart, and investments therein should probably only be a fraction of your overall portfolio.
Good luck.
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