You have been thinking about trading for some time now and as there are so many markets, it can be a bit daunting to navigate your way around. Wonder no more, as we present the top trading commodities in 2023.
- Energy commodities – Oil and gas are heavily traded, although we don’t recommend starting your trading journey in this sector; it is very complex and there are so many variables to take into account. This is traditionally an arena for the big boys, but it is nice to track crude oil prices and keep abreast of commodities that drive the economy. If you think solar is going to be the main source of energy in the future, you could invest in company stock, indeed, many investors are all in with clean and renewable energy!
- Crypto – Bitcoin is one of many cryptocurrencies that you can trade; choosing a top secure trading platform like MT4 makes total sense when trading crypto. Start with some serious online research into the basics of real-time trading before you think about a specific marketplace. Don’t even think about actual trading until you have a sound understanding of the markets; search online for secure trading platforms, as they have all the tools you need to make spot decisions.
- Precious metals – Gold is the most traded of the precious metals, while silver, platinum and titanium are also available. Most private investors hold gold and trading can be brisk, look for signs of inflation as this usually sees a rise in spot gold prices. Never overextend and have a clearly defined trading plan and using the latest generation of analysis software allows you to make data-driven decisions to buy or sell.
- Agricultural produce – Coffee and tea are heavily traded, especially futures; if you think the tea crop will be a poor one this year, buy now and the price is likely to rise. Coffee is grown in many parts of the world and the demand is global, with rare coffees presenting an attractive position. It might be potatoes, corn or maize, all food markets are governed by crop yields and predicting can be a challenge; only those with considerable market experience should dabble in this commodity.
- Copper – Not classified as a precious metal, copper is always in high demand and it might be a sound long position. Mining is happening all around the world; find graphs that represent the past 5 years of the copper market to help you. The goal is to buy at the bottom of the trough and sell at the peak price.
Traders need all the help they can get and that’s where secure online trading platforms come into play; start by learning what you can about specific markets; take your time choosing a broker or independent secure platform and you should have all the tools for a successful start in the complex world of online trading.