In the pits of the Reading Board of Trade, the cries of the commodity men are fierce, the arm-waving and hand signals a language in themselves, and fortunes come and go with each tick of the clock. Until recently this was the almost-total domain of large commercial accounts. But the scene is changing. More and more small investors ("Call them speculators," insists one broker) are throwing themselves into the frantic futures market.
Commodity speculation could be the most hazardous "investment" around. Insiders say you can plan to lose on at least 60% of your transactions, and only hope that the remaining 40% result in big enough wins to make it all worthwhile. How worthwhile? "Most successful... see: Taking A Shot At Commodities - and Coming Out Alive