Commodity trading is the trading strategy where traders exchange money for commodities such as energy (oil and gas), agricultural products, metals, or bullion at an exchange in the hope they will sell the commodities later for a profit. This is usually done through a futures contract: an agreement with a broker to sell a commodity at a future date when it reaches a certain price.
Commodity Trading in India
Commodity trading in India has experienced unprecedented growth in recent years. This has seen the setting up of six national commodity exchanges, the biggest of which is the Multi Commodity Exchange (MCX). With a turnover of close to 3 billion rupees in the third quarter of 2018, the bourse has risen to be ranked the 7th largest commodity exchange in the world in terms of futures contracts traded. This is a very remarkable feat considering MCX was only set up in 2003.
Is MCX Commodity Trading Profitable?
Even if you are a rank beginner, you can start trading at the MCX commodities exchange. This is because commodity trading is well regulated and the market highly liquid. But to make a profit on MCX, you need to understand some of the indicators and keep track of how various indicators change over time.
Where to Get MCX Live Market Alerts
As indicated above, the commodity trading market is very fluid. Significant trends in prices rising or falling can happen in a matter of minutes, not just hours. Therefore, you need a reliable service that can provide you with alerts about live data happening on the MCX trading floor. You can customize the alerts so they are delivered directly to your inbox or phone via text. There are also some emerging trends where alerts can be sent as social media notifications on your smartphone.
Making Sense of MCX Live Data
First-time traders on MCX usually subscribe to data across multiple streams. During trading, such data is transmitted multiple times throughout an hour. This can become overwhelming data because the useful indicators can be buried under the avalanche of data you have no use for. To ensure you get the most relevant live alerts, ensure you streamline the alerts so they target the exact market segment you are looking to trade-in.
Furthermore, you can customize the MCX live alerts so they address only the most significant indicators. You can customize the alerts to offer you such MCX live data as the losing or winning commodities, most-active contracts, highs and lows on different counters, and even data showing the ratios of advance to declines.
Keeping Track of MCX Market Watch
The thing about MCX trading data is that it is only useful when it reflects the most current state of trading. If the MCX alerts are delivered too late, you will be unable to take advantage of the opportunities they offer. Therefore, selecting the best platform for keeping track of the data is just as important as ensuring the alerts are as relevant as possible. MCX market watch alerts are most relevant when delivered in a timely fashion.
As a trader looking to invest in the commodity trading market, there are strategies you can use to ensure success. These include setting up MCX live market alerts, adopting strategies to obtain the most relevant MCX live data, and identifying the best platform for reliable MCX market watch information. These will serve you well as you invest your savings in the most reliable income streams for savvy investors in India.