There are many things that one should refrain from doing while under the influence of alcohol, and we can now add commodity trading to the list. Yes, if you can believe it or not, a trader got so drunk three years ago, that he executed a massive position and had absolutely no memory of doing so upon awakening [for more commodity news and analysis subscribe to our free newsletter ].

His name is Steve Perkins and he managed to complete one of the biggest trades in the crude oil market , only the levels of alcohol in his body prevented him from remembering the event. The price spike in crude oil had been under investigation by the Financial Services Authority FSA , but the details were only recently made public.

On the night of June 30th , Perkins, a senior broker at PVM Oil Futures, had a few too many drinks and decided it was time to trade. Perkins eventually had his license revoked for five years and was forced to pay a fine of over 72, pounds [see also How To Lose Money Investing In Commodities ].

While the story may be laughable at first, it illustrates the point that commodity trading is dangerous enough on its own. Adding alcohol into the mix will only exacerbate things.

That is one of the main reasons that it is stressed that commodity investors keep tight stop-losses and keep a close eye on their positions, as this is not the first time that a major asset has been manipulated by a wealthy individual or entity.

'Drunken' oil trader is banned for five years | The Independent

So have a good laugh but always remember that commodity futures trading should only be left to the most responsible and well-educated traders, but should be especially avoided by those who have a love for their booze. Commodity HQ is not an investment advisor, and any content published by Commodity HQ does not constitute individual investment advice.

The opinions offered herein are not personalized recommendations to buy, sell or hold securities or investment assets.

Read the full disclaimer here. Home News Commodities Library Trading Heatmap Newsletter Commodity ETFs Oil ETFs Gold ETFs.

Coconuts Go Upscale, Boosting Price of Conventional Coconut Oil - WSJ

This entry was posted in Academic Research , Energy , Fun , News and Current Events , WTI and tagged BNO , USO. Related News Stories March Backwardation Report: Energy Futures Downward Sloping Backwardation Report: A Mixed Bag Why the WTI Vs.

Brent Crude Spread Is Shrinking How Crude Oil Traders Manipulate The Market Backwardation Report: Cotton, Crude and Gasoline Face Falling Prices. Which Coffee ETF Is Right For You?