Instructions

Get an education. While a bachelor’s degree is not absolutely required to trade commodities, it is almost essential to getting a job with a reputable firm. Also, much of what you learn in your classes can be directly applied to your future career. According to the Bureau of Labor Statistics, many traders choose to major in a field closely related to commodities trading, such as economics, business, or agriculture. If you have an idea of what kind of commodities you want to trade—for example, oil and natural gas—build your class schedule around this goal.

Get a license. Although some commodities traders will fill orders through a broker, many choose to cut out the middleman and place their own orders. To do this, you must take and pass the Series 3 examination—similar to the Series 7 exam taken by stock brokers—which is administered by the National Futures Association. The test is divided into two parts, one of which tests you on your knowledge of the market and the other on trading regulations.

References

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