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Market maven

Commodity trading involves buying and selling of goods categorised as commodities. It is similar to trading stocks in many ways, however, the key difference lies in what is being traded.

education Updated: May 14, 2012 11:29 IST

The lowdown
Commodity trading involves buying and selling of goods categorised as commodities. It is similar to trading stocks in many ways, however, the key difference lies in what is being traded. A commodity is a product, which has commercial value and can be produced, bought, sold and consumed. In this context, a commodity applies to goods only and does not include services. Contemporary commodity traders are responsible for arranging the purchase or sale of various commodities on regulated exchanges. A trading floor at a stock exchange can be a riot on most days with most traders screaming on the phone negotiating important trades with other parties while simultaneously tracking price trends and market developments on their computers.

Clockwork
10am: Chart out the best investment bet for the day
Noon: Track the existing positions held by client and update him.
4pm: Go through the highs and lows of the day and ways to improve on the pitfalls

The payoff
In India, salary ranges between Rs. 1.5lakh to Rs. 12 lakh a year However, In the US salary can range between $30000 to $100,000 per annum

Skills/TRAITS
* Love for the markets
* To succeed, candidates need to be ambitious, competitive and determined
* You need to be quick witted, numerically capable and able to negotiate

Getting there
There are various diploma courses available in derivative markets, which can be done after Class 12. Qualification cannot guarantee becoming a successful trader. Rather having an analytical mind, razor-sharp reflexes (to respond to fluctuating markets), an ability to handle unbearable pressure are equally important

Institutes and URLs
* BSE Training Institute, Mumbai
* National Stock Exchange, Mumbai
http://www.nseindia.com/content/ncfm/ncfm_whyncfm.htm
* The Indian Institute of Finance, New Delhi (Master of Business Finance)
www.iif.edu

Financial Technologies Knowledge Management Company conducts various short-term training programmes and long-term academic courses at their training centre in Mumbai. IIM’s have also incorporated commodity markets as a module in their curriculum and provide certification courses

Pros and cons
* Impressive financial rewards
* Immense satisfaction and respect
* Long hours of work and high levels

Commodity trading could just be the ‘next big thing’ in store for the future generation, to pursue a career in... CP Krishnan, whole time director of Geojit Comtrade Ltd