basically nice...although if you tell people to join Trafigura, Glencore etc....tell them also that during their training program they will really get brainwashed to the corporate world. Its rather narrow minded. My suggestion: Switch every 2-3 years the trading company and the commodity this way you build up great kowledge. And important: start as a backoffice or logistics guy. Learn what Incoterms are...then move to the front as Junior Trader....the rest comes automatically. Last but not least...know how the economic world works, interest rates, currencies etc.....a bachelor or master in economics, mathematics or finance helps. (take that advise from a trader that is in the market since 40 years)

@damienwursten

Жыл бұрын

Ohh Roger!! Hope you are doing well! Thanks a lot for taking the time to pass on your knowledge!

@aristidedonfack9569

10 ай бұрын

Thank you for this advice

I am in gas trading in the US. Just stumbled upon this video and your channel. What a great work! Absolutely agree, here it's either you come from an energy family in Texas or Louisiana, went to one of the trader development programs, or worked your way up from scheduler to trader. Commodity trading is an amazing field and is once again in a good time of the cycle, hoping to see more videos of yours!

@damienwursten

9 ай бұрын

hahaha glad you confirm ^^

Great vid, as always! 😎

Kindly make a dedicated video on HOW A RETAIL TRADER MAKE BIG IN COMMODITY TRADING

Great Video Damien! Thank you

I work with metals (gold, palladium, platinum, etc) and I tell you: it is a tough job. I went to business school, worked for Deutsche Bank for a few years. I knew nothing about commodity and metals trading until 2 years ago. All it took was the right connections that took me to meet the CEO of a powerful group and a lot of study on the subject, sheer discipline and hard work will take you there, although it is a very small circle reserved for a few.

@damienwursten

2 жыл бұрын

thk for your comment. Yeah, precious metal is a tough market. (I work a bit for a company owned by MKS)

Thx Dam! Good video.

Do u believe that simeone can get into the industry if he has a backround in shipping but from an engineering role?

@damienwursten

2 жыл бұрын

You don’t need to have a background in shipping to break into the commodity industry. Engineering is fine

Is Mining Engineering at University of British Columbia into MBA a feasible path to become a commodity trader? Or Geology/Geophysics into MBA as well? I have a network with a family office with outfits in Vancouver, Shanghai, HK. Fluent English/Mandarin. Only thing is I dropped out of Uni from a biochem program at age 20 cause I bought bitcoin in 2015. So I've been messing around ever since 2017 basically. Im nearly 27 now and it will take time for school. You mentioned with the golden ticket path age is a consideration as well. I got interested in commodity trading cause I've been swing trading mining stocks since Spring 2020. I noticed in March 2020 that GDXJ & GDX traded close to their all time lows of when gold was $1060/oz in dec 2015 but the gold price in March was still $1500, and oil cratered. So I thought it was a huge opportunity to get into gold mining stocks and it paid off.

@damienwursten

Жыл бұрын

I cannot speak in specific i dunno the schools you mentionned. Also not sure if a MBA would help at your stage. But speaking in mandarin/english is already a good step. Junior speculating is far from what phyiscal commodity trader do.

I have a serious network with a bauxite mines, trying to see if I can network myself with a right contact in the Almmumin Refinnery. Maybe anyone can help

@damienwursten

2 жыл бұрын

Good luck

I had an interview at trafigura for their graduate program and man, the questions they asked were tough!..sadly I didn't get the role but Im still trying to get into this industry

@damienwursten

2 жыл бұрын

Dude, sorry to hear that. But... This is why I created the academy. With the shipping and commodity academy course, you would have nailed the interview (already 2 alumni got into Traf graduate program)

@Bronkobimb

2 жыл бұрын

What are the kind of questions they ask in these interviews?

Is a traineeship in a small, specialized, commodity trading commodity company also a good way to break into the field?

@damienwursten

Жыл бұрын

Any traineeship is a perfect way

Thank’s for your video, very interesting ! And what about the master in commodity trading from the university of Geneva? Is it a good way to start a career in this field as well ?

@damienwursten

2 жыл бұрын

I don’t know if we can call it a good way as you need to have a job in a commodity-related firms to follow the master and your company needs to sponsor you. Lessons are on Friday and Saturday.

@antoinepury4137

2 жыл бұрын

Thank you for your reply. Yes the toughest part probably is getting the internship in this field I can imagine. I just got accepted into the academic program actually, so now I will try applying the advice from your video ;) Thanks a lot !

@antoinepury4137

2 жыл бұрын

But would you recommend this master if I can find a good internship ? I’m wondering if it is actually worth it or not compared to a traditional finance master degree…

@antoinepury4137

2 жыл бұрын

J'imagine que tu es très occupé mais ce serait génial si je pouvais avoir une courte réponse quand tu as le temps. J'ai un interview avec LDC prochainement et j'aimerais beaucoup savoir ton avis sur ce master. Bonne journée !

@alystero8838

9 ай бұрын

Hey bud, did you get into university of geneva's masters or DAS program?

You mention relevant languages - which are those? im South African so i already speak my home language (Afrikaans) = English, learning French at the moment and thinking about eventulaly learning Swahili/ Portuguese/ Arabic so i can perform well anywhere in Africa, what other languages would be usefull, Spanish? Chinese?

@damienwursten

2 жыл бұрын

With French & English, you'll be able to cover most of Africa. Mandarin is definitely the language that is going to give you the most advantage, BUT it's also extremely hard to learn it.

Hi greetings from Transylvania, Romania

Good. Vidéo, do you have contact to refined petroleum to west africa ?

@damienwursten

2 жыл бұрын

Seriously?

hi Damien! Is there anyway to trade commodities as an independent trader?

@damienwursten

Жыл бұрын

Yes, But most of my friend that work as solo commodity trader used to work for a firm first.

@jaimem4059

Жыл бұрын

can you make a video explaining how to work as a solo trader? what brokers you use? any licenses you might need?

What about support functions in commodity trading industry, such as S&D research etc?

@damienwursten

2 жыл бұрын

It’s quite the same path, but less competitve and less need to start with a network.

Is it possible to open up a commodity trading firm without trading experience?

@damienwursten

4 ай бұрын

yes

I am already working as an operator for one of the big 5 agro trading, with experiencie at contract desk also. Hope to have the opportunity to be trader one day

@damienwursten

2 жыл бұрын

You are on the right track, but don't hesitate to change company if you see that your current employer won't give you a shot at a trading position. I know a lot of operators i the nbig trading firms that have been promised trading roles... they are still waiting for it... 🙄

But theres no possibility to trade by your own? I mean set up an account whit a broker and trade by your own?

@damienwursten

2 жыл бұрын

Yes, if you want to trade paper contracts.

Awesome video bro Please talk about salary and bonus structure As well as talk about me hierarchy in the company like can you climb the corporate ladder and what is the different ranks in commodity trading

@damienwursten

2 жыл бұрын

That's a good video idea! In the mean time you can check this blog post about salaries => shippingandcommodityacademy.com/physical-commodity-trader-salary/

Done share and like

Sir how much your course cost and how much chances to earn after learning.

@damienwursten

7 ай бұрын

shippingandcommodityacademy.com/courses/shipping-and-commodity-operation-certificate/

Can a guy start on his own? With small, obscure commodities the big firms will not touch?

@damienwursten

2 жыл бұрын

Yep, definitely, I know a handful of small companies (less than 5 people) that are crushing it, (owner making 500'000-800'000 profit per year).

@jaimem4059

Жыл бұрын

@Damien whats the companies names?

So why did Damian quit at a commodity firm?

@damienwursten

2 жыл бұрын

I'll make a video about it one day 🧐 But in short, I was not willing to carry on with travels and working non-stop as a young father.

I am from the caribbean, is this also possible for me.What is the best degree to do?

@damienwursten

2 жыл бұрын

I'm not going to lie, but it's harder to find a job right after your study f you don't get a degree abroad (London, Geneva, Singapour). Alternatively, you can still make it by starting working locally with a commodity exporter/importer.

How to become a Power Trader (I mean the traders sitting in the Load Dispatch Centers)

@damienwursten

Жыл бұрын

Get hired by a power firm

@ErMondeep

Жыл бұрын

@@damienwursten Thanks Sir

The best way to become a commodity trader is to have a trading licence in a country like zambia..

WHEN MAKING RETIREMENT PLANS, COMMODITY IS GOOD BUT HAVING PASSIVE INCOME IS MORE CRUCIAL. Big ups to everyone working effortlessly trying to earn a living while building wealth. I'm 40 oand my wife 34. We are both retired with over $3 million in net worth and no debts. Currently living smart and frugal with our money. Saving and investing lifestyle made it possible for us this early even till now we earn monthly through passive income.

@vicvic1595

11 ай бұрын

I want to invest but don't know how to as I am a Begineer, can you direct me ?

Path 2 and 3 🥲🫠

@damienwursten

Жыл бұрын

It is what it is 😅🤷‍♂️

Do you have a contact email damien?

@damienwursten

2 жыл бұрын

Yes, i do.

@user-ws5kw2pj9k

2 жыл бұрын

@@damienwursten ?