Reading through the magazine TRADER monthly, I came over an article about an individual Richard Dennis. Many of you who grew up in the '80s might recognize the name. Richard was a icon in the commodities trading arena. Recently he was inducted into the Trader Monthly Hall of Fame (nineteenth member). Starting with only a couple hundred dollars Mr. Dennis reached a portfolio towering a couple hundred million. Using only numbers to trade he had very little emotion involved. He is quoted saying "It's a lot easier to trade when the decision making is predetermined."
His story is amazing we can all agree on that. But who really knows what commodities are and how they are traded. Well as you can figure out I did some research on this matter and came to the Chicago Board of Trade (CBOT). CBOT is the trading "platform" for all commodities (Corn, Soybeans, Wheat, Rough Rice, Oats, Soybean Oil, Soybean Meal). CBOT has many publications on introduction of trading futures/commodities. I have recently acquired them and am starting to read them. I will update you on my status of knowledge. But as anything this new, we can all agree it's not going to be easy. But with a topic this interesting you would have to be crazy not learn about it. Well we might agree it could be the other way around but o'well.
Tuesday, November 20, 2007
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