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MCX, short for Multi Commodity Exchange, is a major trading market in India. It is a highly volatile market and is present in India since 2003. It offers trading in commodities from various segments like energy, ferrous, non-ferrous, agricultural commodities, oil seeds, pulses, bullion, oil, plantations, spices, natural gas, etc.
Multi Commodity Exchange of India Ltd is headquartered in Mumbai. It is set up by Financial Technologies (India) Ltd. It is permanently recognized by the Government of India.
MCX started its functioning in November 2003. And now, it has a market share of over 80% of the Indian commodity futures market. It consists of 2000 registered and operating members. MCX is the sixth largest and the fastest upcoming commodity futures exchange market in the world.
Multi Commodity Exchange trading and investment is not easy. It requires relevant knowledge and expertise if you wish to have good return and incentives from your investment. Apart from this, you also need some important tips on MCX trading.
MCX is a market where traders and investors can easily as well as quickly multiply their money. But with a few tips, it becomes all the easier. You can get tips from experts of MCX. Internet can also be a good option to get some tips. There are some financial advisors companies that also provide tips after doing a market research but this might be expensive.
Here are few tips on MCX trading:
- MCX market is very unstable. So, you should not assume or apply any insights or thoughts while trading. Always support your trading decisions with some logic in it.
- MCX is a market where raw materials are bought and sold. So, do not put all your eggs in one basket. A market fall can break all your money. Hence, diversify your investment. Put your money in different types of commodities so that a small market move does not affect all your money.
- Before you enter into investment market, do collect and understand all information related to this sector. You can take information from internet or from advisory firm.
- Follow every fluctuation and move of market and take decisions accordingly. This will help you in earning good profits from your investment as well as protect your profits. A small move in the market can affect your investment.
- Keep your emotions aside while investing your money in MCX market. Do not get carried away by your emotions as this can adversely affect your investment. Always be practical. If you find that the market is not on your side, just take a back seat.
- Do not risk all your money. Invest only that amount of money which will not affect you much in a state of loss.
- Decide your goal and decide a goal that you can achieve. Plan your investment effectively. You can take help from a professional financial advisor.
- Be ready, emotionally and mentally, to suffer loss.
- Always trade in constant quantity.
- Do not take excess position beyond a limit.
If you are trading in gold, follow the tips as given:
- Buy gold and trade it when its value is higher than the purchased value.
- Do not hold your position overnight. Avoid such a situation.
- Do not wait for too long for the prices to reach maximum as it can change any moment. Greed can cause some huge loss.
These tips are the basics and these should be inculcated in every mind and heart of a trader and investor. You can follow these tips not only for trading in MCX market but also in Indian share market. To get successful and have a good standing and existence in the investment market, follow these tips. If you follow these tips religiously, no one can stop you from being the king of the investment world. Success will be assured.
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