Hire a commodity trading adviser

A commodity trading adviser firm is knowledgeable about derivative analytics, which is used for managing risk of a bond or equity portfolio. At the same time, it has to preserve its assets. A commodity trading advisor will give you a different perspective in the commodities industry, primarily because the market is constantly changing. You'll want a commodity trading advisor on your side to keep you informed of these changes.

I recommend: Look at Genuine Trading Solutions, which specializes in studying and executing a hedging strategy; it strives to cut exposures that come from market or operational risk. Genuine Trading Solutions works with pension funds, mutual funds, hedge funds and corporations. You’ll also want to look at Attain Capital Management, which offers comprehensive services, particularly helping you make money whether the stocks go down or up.

Talk to some CTA firms

Research several commodity firms. If you live in Chicago, you might even want to visit commodity trading advisors in Chicago. Look for commodity firms that not only will give you deep discounts on your trades, but find out if they'll offer you advice on potential trades. You also want to see if the commodity firm shows a list of the top CTA hedge funds so you can research them.

I recommend: Lind-Waldock, one of the top CTA firms based in Chicago, offers 10 commission-free contract sides if you open an account with them. However, this must be a self-directed account, meaning you cannot get advice from one of its brokers. Look at Titan Commodities’ website. Though Titan Commodities is a full-service firm, it offers discount commissions. If you’re a beginner, this firm will give you the tools and support when it comes to commodities trading.

Use CTA firms as stepping-stones, then get to know commodity exchanges

It's extremely important to know your commodity exchanges. You'll want to know them not only for trading purposes, but to refer to them for news. You'll need to know these exchanges for commodity trading funds and also to check their annual performances.

I recommend: The New York Mercantile Exchange is the largest physical commodity futures exchange. You’ll find valuable information on commodities, including energy, metals and oil. Look at Chicago Board of Trade’s website, where you can track commodities, including soybeans, wheat and ethanol.