Commodities Brokers

Students who are interested in commodities trading should visit one of the futures exchanges. Some offer public tours, and you'll get to see up close just how the markets work and the roles of the players involved. All the exchanges offer educational programs and publications, and most have a Web site. There are hundreds of industry newsletters and magazines available, and many offer free samples of publications or products. Read what trading advisers have to say and how they say it. Learn their lingo and gain an understanding of the marketplace. If you have any contacts in the industry, arrange to spend a day with a broker. Watch him or her at work, and you'll learn how orders are entered, processed, and reported.

Do your own research. Adopt a commodity, chart its prices, test some of your own ideas, and analyze the marketplace. There are also a variety of inexpensive software programs, as well as Web sites, that simulate trading. One recommendation is the Stock Market Game (https://www.stockmarketgame.org), an online simulation of the global capital markets for students in grades 4–12. It is a program of the SIFMA Foundation.

Get involved in investing competitions for students. For example, the Wharton Global High School Investment Competition is a free, global, online investment simulation for students. It's sponsored by The Wharton School at the University of Pennsylvania. According to the Wharton Web site, "students work in teams of four to seven, guided by a teacher as their advisor, and have access to an online stock market simulator. Together, they learn about strategy-building, teamwork, communication, risk, diversification, company and industry analysis, and many other aspects of investing." Visit https://globalyouth.wharton.upenn.edu/competitions/investment-competition to learn more.