Thursday, October 30, 2014

Experienced Commodities Traders know that they will be wrong lots of times

Your personality makes a difference. You have to look into the mirror and be absolutely candid about your own attitude toward risk, your ability to admit to having made a mistake, and your willingness to stray from the herd. If you have trouble admitting you are wrong, commodities will be as hard a school as any other investment area. Experienced commodities traders know that they will be wrong lots of times.

Related commodities: Nymex Crude Oil Futures, Gold Futures, nited States Oil Fund LP ETF (USO), United States Natural Gas Fund (UNG)

Jim Rogers is a bestselling author, financial commentator and successful international investor. Rogers was a co-founder of the Quantum Fund (considered to be the first truly international fund of its kind) and is the creator of the Rogers International Commodities Index (RICI).