Stop and make sure that you have adequate futures and options education and training before jumping into the commodities market. Whether you are interested in futures on agricultural commodities, financial instruments or intangibles such as bonds, currencies or stock market indexes, there will be producers and consumers who need to hedge their risk from future price changes.

We've seen price changes impact our economy, particularly with gas, milk and other grocery items, but you can take advantage of your futures and options training to put those fluxes to your favor. To maximize the right futures and options training for you:

1. Start out by realizing that if you are looking for casual training, you shouldn't have to pay for it. There are a number of firms out there with a wealth of training tools for free.

2. Take notes on your futures and options training, and if you have questions, don't be afraid to email the company from which you are learning from.

3. Before you invest in dollars, invest in time to fully prepare yourself before you jump into commodities trading. Better to be safe than sorry.

Action Steps
The best contacts and resources to help you get it done

Seek out free futures and options training tools

Free futures and options training are always a positive thing, so choose the free tool that is the most helpful for your learning and training endeavors.

I recommend: Download free research reports from InvestBrite. Look at the online simulations and seminars offered by CIH, LLC. Learn about options trading by signing up for the free trading kit from Optionetics, Inc. Find even more options and futures training tools from the Office for Futures and Options Research University of Illinois at Urbana-Champaign.

Pursue option courses over futures training

Narrow your trading and improve your skills by taking option courses.

I recommend: You have many online options training options through The Options Industry Council. You can take an online class, watch online webcasts, find online podcasts and videos or try their free options software. Send away for a free educational guide from OpVEst. Receive a free options trading manual from MFGlobal. Obtain your free Educational CD: Trading Options on CME Futures from Lind-Waldock.

Go with futures training

Try improving your skills with futures & options training.

I recommend: Practice what you learn in your futures and options training by opening an optionsXpress account. You can start virtual trading stocks, options, and futures in a no-risk, practice environment immediately. If you have time, you should also take the site tour to better familiarize yourself with their offerings. Use a free 30-day trial of the BEST Test Simulated Futures Trading program from PFGBEST.com. They also offer web seminars from live and prerecorded events. Check out the free education for futures information from United Futures Trading. Sign up for a free trial from GFT Futures. Once you are signed up, you can access their futures education options.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  Realize as you jump into your futures and options education and training that there is a substantial risk of loss in trading commodity futures, options and foreign exchange products. Please train and trade with caution.
• •  Your probability of success is better if you take prudent risk. Treat your trading like an investment and not a Vegas casino.