The Multi Commodity Exchange of India with its headquarter at Mumbai is an electronic commodity futures exchange. The MCX was established in 2003 as a means to aid the futures market transactions on over 40 commodities across various segments. MCX is the 6ht largest commodities exchange in the world with respect to the transaction and contracts traded. The common perception is the trading in the market is extremely difficult for a newbie to enter in the market and earn profits. Therefore we are giving you a jotting of Dos and Don’t’s of the market.
1. Before entering in the arena of trading it is imperative to understand and learn the nomenclature and nuances of the trade. Also most of the MCX trading is done online so be prepared for the use and misuse of technology.
2. It is very important to know the rules and regulations of the market. These constitute various taxes and other expenses. Simply having the MCX TRADING TIPS will not let you earn money till the time you understand the in and out of the market.
3. You should always take pains to understand the reasons behind the increase and decrease of the commodities prices. The most important MCX TRADING TIP is that you should be clearly understand the pricing and settlement of commodities before jumping into the trade.
4. Always keep yourself updated about various guidelines issued by government from time to time.
5. Make yourself aware of the previous figures and trends of the commodity you wish to trade in .
1. Never fall for the rumors in the market. Check thoroughly before you make any decision and do not depend only on tips.
2. Never blind trust your advisors. If you want to opt for trading tips then consult the established tip advisors or broking houses.
3. Do not trade in any commodity without analyzing the risk associated with it. the biggest MCX TRADING TIP is to learn about the various risk factors attached to the trading you are going to undertake.