crude_lover
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Im looking to get into trading copper i was just wondering if anyone here had some good advice or tips for me i haev experience trading in oil so im hoping its similar to that
Trading Copper
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TWI
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lol Cashcow..
I do admit that there is a lot of knowledge that comes from the flow in the banks and through the floor brokers but otherwise no different from anythign else. The moves are pretty big, the LME contracts is chunky but much better than comex and when it moves it goes quickly.
The story is all China demand vs. Europe and US slowdown right now as with most base metals.
I expect copper to move higher this year along and Aluminium will be the other good bull. One thing copper can do is move very viciously against trend to catch out the weak positions. It i definitely a professionals market and should be traded as such. There is a huge forward curve that gets batted about all over the place by the funds.
Good luck. Personally it has been a great market for me.
I do admit that there is a lot of knowledge that comes from the flow in the banks and through the floor brokers but otherwise no different from anythign else. The moves are pretty big, the LME contracts is chunky but much better than comex and when it moves it goes quickly.
The story is all China demand vs. Europe and US slowdown right now as with most base metals.
I expect copper to move higher this year along and Aluminium will be the other good bull. One thing copper can do is move very viciously against trend to catch out the weak positions. It i definitely a professionals market and should be traded as such. There is a huge forward curve that gets batted about all over the place by the funds.
Good luck. Personally it has been a great market for me.
crude_lover
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well the plan is to start on the mini contracts. i have been doing silver for a few months and have had quite a gd time with it so far.
Out of interest twi where do you trade are you a home trader or for a firm in london ?
Out of interest twi where do you trade are you a home trader or for a firm in london ?
The Baptist
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Break out over next 2-3 months (upside)
I believe this one is breaking out this qtr. I have been accumulating, but SB trades thin so watch volumes and money management, I get slippage on smallish numbers through my SB.
I believe this one is breaking out this qtr. I have been accumulating, but SB trades thin so watch volumes and money management, I get slippage on smallish numbers through my SB.
Hedge funds have turned from net long to net short on copper last week:
Hedge-fund managers and other large speculators reversed from a net-long position to a net-short position in New York copper futures in the week ended June 3, according to U.S. Commodity Futures Trading Commission data.
Speculative short positions, or bets prices will fall, outnumbered long positions by 887 contracts on the Comex division of the New York Mercantile Exchange, the Washington-based commission said in its Commitments of Traders report. Last week, traders were net-long 3,661 contracts.
Hedge-fund managers and other large speculators reversed from a net-long position to a net-short position in New York copper futures in the week ended June 3, according to U.S. Commodity Futures Trading Commission data.
Speculative short positions, or bets prices will fall, outnumbered long positions by 887 contracts on the Comex division of the New York Mercantile Exchange, the Washington-based commission said in its Commitments of Traders report. Last week, traders were net-long 3,661 contracts.
Waiting for higher level to short comex copper, ideally US$363 level. Since physical demand is weak and hedge funds have turned net short on copper, price has to come down eventually. Details here on the CFTC report.
China's imports of copper and copper products dropped 19.2 percent last month to the lowest since August as higher overseas prices deterred buyers and increased domestic production boosted supplies.
Imports were 198,894 metric tons in May, the Beijing-based customs office said today in a statement on its Web site, citing preliminary data. Purchases were 246,194 tons in April and 220,561 tons in May last year.
China's imports of copper and copper products dropped 19.2 percent last month to the lowest since August as higher overseas prices deterred buyers and increased domestic production boosted supplies.
Imports were 198,894 metric tons in May, the Beijing-based customs office said today in a statement on its Web site, citing preliminary data. Purchases were 246,194 tons in April and 220,561 tons in May last year.
danny regal
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Hi maybe we can discuss some ideas and strategies...im also looking to get into this copper game..maybe we can help each other..
