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Trading Vertical Option Spreads

10 pearls of wisdom for trading metals

By Michael McFarlin

April 24, 2013 • Reprints

One of the questions we hear most often is, “What does it take to be a successful trader?” Although many people look for the Holy Grail of trading that works every time, history has shown it likely doesn’t exist. Instead, George Gero, precious metals strategist, vice president, global futures, RBC Capital Markets, says nothing in life is free or easy, so you have to be prepared to work if you want to be a successful trader.

Here, Gero shares the checklist of information he reviews every day before he even considers a metals trade. A checklist is important, he says, because it can keep you focused in the heat of trading when an economic report, political action or anything else hits the market. As such, here are the 10 things Gero checks every day.

1. Do your homework

If you want to do well during the trading session, you have to set yourself up for success before the bell even rings, Gero says. That means taking time the night before to check prices and see how the metals are trading overseas in reaction to the U.S. trading session.

Gero says he tends to look at prices around 8 p.m.-11 p.m. ET, focusing specifically on the metals prices and the major currencies — metals because that is what he intends to trade and currencies because they can affect the price directly (see “Footing the bill,”). “If I see that the dollar is strong, then that could affect the prices of the metal as being too expensive in dollar terms,” he says.

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About the Author

Michael McFarlin joined Futures in 2010 after graduating summa cum laude from Trinity International University, where he majored in English/Communication. With the launch of the new web platform, Michael serves as web editor for the site and will continue to work on the magazine, where he focuses on the Markets and Trading 101 features. He also served as a member of the Wisconsin National Guard from 2007 to 2010. mmcfarlin@futuresmag.com

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Related Terms
US Federal Reserve 8527Gold 7530oil 6597Bloomberg 5254commodities 3439Metals 3359crude oil 3328Silver 3171metal 3075technical analysis 1328Dow Jones 1137HSBC 543Credit Suisse 346RBC Capital Markets 238G20 223G7 210Education 156Group of 20 countries 144Goldman 107group of seven 103fundamentals 98retail demand 50George Gero 37retail interest 5

Free Newsletter Modern Trader Follow

Main menu

  • Futures
    • Modern Trader Magazine
    • Commodities
    • Futures Mag Archives
    • ETFs
    • Financials
    • Forex
    • Managed Funds
    • Market Analysis
    • News
    • Options
    • Regulation
    • Technology
    • Trading Strategies
    • Education
    • Futures Op-Ed
  • Favorites
    • Alpha Pages Most Popular
    • Futures Magazine
    • Modern Trader Magazine
    • Most Popular
    • Slideshows & Lists
    • Special Topics
      • Alpha Hunters
      • Bad Boys
      • FINtech
      • High-Frequency Trading
      • Trader's Life
      • Trading Strategies
      • FUTURES MAG's 500th ISSUE
      • We asked traders
  • Traders
    • Market Data
    • Hot Charts
    • Interactive Charts
    • Trading Calendar
  • FINalternatives
  • Hard Assets
    • Home
    • Base Metals
    • Precious Metals
    • Rare Earth Metals
    • Commodities
    • Mining Investments
    • Slideshows
  • Modern Trader
    • Subscribe
    • Past Issues
  • All +
    • Follow Us +
      • FuturesMag
      • Newsletters
      • Facebook
      • Google+
      • Linkedin
      • Twitter
      • RSS Feeds
    • About Us +
      • About
      • Advertise
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      • Contribute
      • Privacy Policy
  • !
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