Do not overlook the value of doing your own work and your own analysis. In addition a capable adviser will also be a great asset to your trading effort.

A capable adviser is one who will educate and assist you when you're new to commodities. These's a lot to know and in the early stages you'll find that the appropriate adviser for you will make you feel comfortable in building your knowledge base quickly.

There are many good brokers and if you realise just how important your broker can be then you will increase your chances of success and also hopefully enjoy trading. By the way, a good broker does not necessarily mean that they have to have been in the market for more than 10 years - it's more about providing TOP QUALITY SERVICE.

Don't look for an advisor to 'tip' you off on 9 out of 10 winning trades.

What you are really looking for as a client is a differentiated level of service and your broker should have a well known reputation for accuracy, top quality execution, succinct technical and fundamental research in addition to regular trading seminars for existing and prospective clients.

More than likely the person you'll speak to most will be your adviser during the day. Markets and strategies can be discussed with your adviser, however, as a trader, you're better off combining this with your own analysis rather than asking for specific comments on future market direction.

Having done your analysis, decide on your level of entry, your stop loss level and your stop profit level and then maintain complete discipline throughout. The mistake that most make is becoming greedy. It's a well worn statement but it's so true in futures markets, the emotions of FEAR & GREED lose you money and lose you potential profits.

Translated, fear really means the lack of confidence in sticking to your analysis with greed pertaining to poor money management. If your analysis suggests that you should be out either with a profit or a loss at a designated price then don't start crossing your fingers and hoping. Close the position and reassess the market for the next good entry level, or alternatively seek opportunities in other markets where the picture may be clearer.

The orders for offshore commodities will normally be given to your adviser when the US markets are closed. Of course, you can also place orders directly with the night traders. Occasionally a night trader will have time to comment on the markets although more often that is not when you're flying around in a chair at 2.00am watching over 100 markets, time is limited so being clear and concise when placing orders at night is vital.

Be aware of any orders you have placed, that is, that are 'working' in the market. If you want to change an order or cancel one ensure that your new order is the only one being 'worked'. It's incredibly important that you are aware of your position and what's working at any point in time and that's where your own trading documentation is particularly important. This sounds obvious but you'd be surprised at how many traders neglect to do this. Set up a trading diary or preferable a spreadsheet that calculates the necessary figures for you. Have columns showing date, trade entry, number of lots traded, trade exit, profit, loss, brokerage, etc.

I advise my clients to have regularly write down why you got into the trade, out of the trade, how your own psychology was at the time of entry and exit and what you learned from the trade. This detailed analysis serves to reduce the chance of making the same mistake over and over again - and if there's 100 different mistakes that will cost you money in trading, you don't want to constantly make the same mistakes time and time again! Even if you're mostly oriented towards technical analysis in trading it's still prudent to know when various USDA crop reports are scheduled to be released. Other elements to be familiar with are the seasonal tendencies of particular commodities. There is no guarantee that the seasonal trade will adhere to the historical trend of success in the current year however these 'windows of opportunity' are well worth being aware of.

Also watch the wheather which can play havoc with commodity prices, sometimes in your favour, sometimes not - again, just ensure you are trading on an informed basis. I'm not advising any trader to execute a trade solely based on the prevailing wheather report or to buy heating oil just because it's winter in the U.S. If you stick to your charts these fundamentally inspired price movements will provide you with buy and sell signals on a technical basis rather than having to put the next move on your 'wish list'! Your adviser can provide you with all the contract specifications for offshore commodities markets plus all the seasonals, cycles, main production areas and those other pieces of information that may assist your trading decisions and expand your knowledge base. Finally, the most important aspect of trading involves the subject of your own psychology and your ability to be 100% disciplined, 100% of the time. The emotions you will experience may be rather confronting initially but it's those clients who place the most importance on this aspect of trading who tend to succeed the most in trading futures. DO NOT overlook the area of trading psychology!