ABOUT SMICE
PUBLICATIONS
THE ROUTINE
BULLETIN UPDATE
FLAWED TERMS
Contact Us
SMICE Library
e-mail me
 

 

SMICE 

Secondary Market Intermediaries Commerce and Education (SMICE)

Unified Society of Commodity Traders (USCT)  Professional Commodity Traders (PCT)

Society  of Professional Commodity Traders (SPCT) 

Founder: Division of FTN Exporting Australia (www.ftnx.net) Established 1988 

International Best Selling Author and Trade Expert C/o: Davide Giovanni Papa  

FTN Exporting is a registered business name with ASIC

Education: www.smice.net  Trade: www.ftnx.net  www.ftnexporting.com




THE TRADING ROUTINE 

Posted:  May 9, 2020


So you want to seriously make the attempt to trade in real commodities and you want to do so (a) for a long time  in your spare time or even (b)  as a  a full time career. The latter is more conducive to opening a website  in where the PCT also serves consultation for a fee while trading as a PCT . The PCT may also be tenured to serve as a broker or agent for another principal. In this aspect the PCT should obtain an  ITFA certificate and should have been personally mentored by FTN Exporting for a period of time. A SPCT number is also conferred. In the former  aspect, the PCT trades as often as they can in the spare time, while employed else where with scope of concluding a deal before giving up their employment status.  In this aspect the PCT does not serve consulting services   and simply trades from home or corporate office accordingly with such an aim in sight. Here the PCT is not mentored  and has studied  the FTNX doctrine intently.This  applicant may be served an ITS certificate (on merit)   and obtains a USCT number to show common ground with other like minded  traders crossing their path. Below is the typical routine that a self learner  should attempt to apply after purchasing  the doctrine from FTNX , as per the offer made at the time.



  1. Assume: The applicant has purchased the FTNX doctrine  from FTN Exporting directly on Jan 1, 2019. In this offer  the applicant received  3 Q&A units  with the purchase  which must be used within 6 months of taking up the offer made at any given time
  2. The offer made at the time also allowed the PCT to attempt one  single live deal with FTNX  acting as the principal on the condition tat the PCT spends another 6 months practising aspects of trade as advised in the doctrine    
  3. Some  applicants followed our advice  served in the publication and got the publication printed and converted it to a set of  rudimentary books ( Excellent way  of study ) Others decided to study the PDF from a lap top (O.K way of studying) 
  4. The  applicant after work and weekends and even at  work during  breaks is reading the doctrine slowly and intently. Matters of trade specified  do not make a great deal of sense–yet; but he/she is  absorbing a lot of information.
  5. Within 3 or 4 weeks  the applicant  feels empowered at what he  or she  is learning , as it’s all starting to make sense. The bigger picture is now forming.   
  6. Within 10 weeks the applicant has studied the whole  publication and revised many pages, some more than three times. He is confused with aspect of payments,  so he uses one of his Q&A units  to seek further clarification on one issue.
  7. FTNX gave a good clear explanation of  the question asked which took 2 emails to  finally resolve.  The applicant has 2 email units left  
  8. It’s now April 1, 2019 and as prescribed in the doctrine the PCT will now try to source and secure one single supplier  of a wanted product.
  9. After spending weeks online  studying what are wanted ‘export ready NBC products’  the PCT decided he will attempt to source  one large shipment of Aluminium ingots at FCL FCA Incoterms and a revolving iron  ore supply  at VLBC FOB.
  10. He is excited  as  the PCT  clearly understood  all the terms and  knows what to expect. He is informed. He now needs experience.  Nerves are taking hold, as he now knows what’s truely  involved , but he does feel confident to do the task.
  11. He has  prepared his ITB for both iron  ore and Aluminium ingots and decide to use another Q&A unit to show FTNX and serve advice; if   his ITB is properly prepared.  FTNX corrected some minor mistakes and overall gave the PCT a score of 9/10 
  12. The PCT sent off the ITB to sourced potential end buyers found online . It’s now April the 20, 2019
  13. He has worked hard and made efforts to source other goods as well until mid June when surprisingly he got a positive reply to the ITB for Aluminium ingots. He was unsure  how to reply and used up his last Q&A.
  14. FTNX shows him what to say and how  reply and  told him to dump the deal because of a certain  terms and demands made( faults which was explained to him) 
  15. He PCT got it ! He told the supplier that his demands were unacceptable and his confidence levels are rising intently because he is  making  efforts. FTNX could see such efforts and issued the PCT an ITS certificate.  
  16. By Jan  1, 2020 the PCT  contacted FTNX again,  even though he had no more  Q&A units  to use, he was prepared to disclose new supplier he had finally secured for iron ore  and asked if FTNX would lend support to  test end buyers .  
  17. FTNX said , “sure let me have a look at what you have.”  He produced  an excellent clearly defined  OTS as instructed  in the doctrine and passed  it to FTNX. He is using the option in the offer  made when purchasing the doctrine, to test one deal with FTNX.
  18. FTNX and the PCT worked together for another 4 months ( a lot of valuable time was needed) until a buyer was found prepared to sign the contract . A contract was signed 
  19. FTNX and the PCT closed on their first deal together, alas the end buyer  could not produce the DLC  and the deal was in breach of contract. Nevertheless the PCT had indeed closed on a contract.
  20. FTNX showed how to demand compensation  for  dropping the contract. The end buyer paid $50,000.00  which was shared between  the PCT, FTNX and the Supplier  to cover  expenses incurred. ( as applicable) 
  21. The PCT learned so much with this one interaction, that he managed to close his own large deal alone 1  year later for VLBC  waste paper at FOB.



IN SUMMARY 

If the above applicant took up mentorship , we would have been dealing wth the offer instead of the ITB very quickly  defining that the mentored applicant had to learn  the advanced orthodox aspect from the start while  mentor is on stand by, which would have take up much more of the  mentors valuable time. Mistakes are important as it  serve  and propagates the auspices experience. It is also important that  the mentor  does not do the work that is expected of the applicant is where merit and efforts made  allows the mentor to participate in any pending dealing while  serving directions. The applicant used all Q&A units offered  at the time, which serves insight to FTNX,  that allowed the applicant to receive an ITS ( International Trade Specialist ) Certificate  which was posted by courier mail in hardcopy form  bearing original signatures  and seal of FTNX. Those who provided fake details ( address) when buying the doctrine, will not  receive the iTS Certificate.  In essence  many ITB’s will fail until one is  returned as positive. Many offers will fail until one is accepted by one end buyer. This is the level that must be practised intently as this is the level that will be reached often eventually, as experience grows. The PCT does not want to enter into such complex deals without first obtaining some good experience. Finally  the PCT will enter into a few contracts perhaps 3 or 4 contracts  before one contract  between the end buyer and PCT is sealed; usually near the end of the 2nd year.  We have provided contract models in the doctrine  that must be used.  Once the DLC to pay for goods offered  is in the account  ( in the control ) of the PCT, the deal will close even if major issues arise thereafter ; because  the end buyer wants  his goods and the supplier  wants his money  and nobody wants to take costly legal action as   everyone works together to resolve such issues on a friendly amicable  basis, regardless who is at fault. The importance here is that the pCT has secure real supply form the supplier now become the most relevant and the most important  aspect of all, this is why a PCT simply cannot consider anything  offers by ill informed others.   Even if the PCT has to financially compensate one  side or both sides of the deal by surrendering  some of  its potential gross profits in where at  the end of the revolving contract period the PCT will  still make a huge gain on one single deal, more  than could ostensibly be earned working in a factory  for wages, for 40 years or more for another person.  Even at the lowest end of the scale lets say where  US$ 1.00 per MT is the final gross profit earned in  a 12 month revolving contract of supply; will  generate over 1 million dollars in profit. The PCT answers to nobody. He is in control, and he is charge. He /she is his own boss. The PCT ‘earns’ such money; Luck  plays no role. He earns such money  because he has experience, knowledge and abilities  that the majority of suppliers, end buyers and ill informed intermediaries  simply don’t have.  A PCT works hard  for their money  because the deals they are attempting to close on  are huge and complex. “Those who think  they can wake up one morning  and trade in commodities  based on stupid or ill informed unworkable and unsafe procedures  are dreaming.” Aspects of logic also dictates a great deal  in the nature of business.  We apply logic gained by studying a formidable doctrine of trade The doctrine is the glue ,that takes all procedures, laws  and rules and converts them to a viable  and doable uniform routine that an informed PCT can safely apply world wide, as a respected  professional entity. We need time to learn and obtain experience. We don’t accept unverified deals being closed  as per claims made to us offer the years.  Based on  the above  similar base routine only 1  mentored PCT  managed to close on a contract  in under 11 months from buying the publication , we know this aspect to be true because FTNX was involved in the deal.  One non  mentored  entity holds  the record for  closing a deal all the way to DLC in   under 14 months after buying our  in-house doctrine another in 18 months.  These were exceptional traders.  All PCT are now expected (2020)  to have closed on one contract  in under 2 years, and close all the way to DLC in under 4 years is the standing average expectation . Anyone  telling you differently is telling your stories.  If our doctrine  were available in a college or university a 3 or  4 year certification /study  would be  needed in where another 2 /3 year of experience would need to apply before a deal could eventuate may be assumed.These are complex deals,  that supports one  of the most complex business application on the planet. We have made the study easy to comprehend–gaining experience however must compliment  the study.  



 
 
|ABOUT SMICE | |PUBLICATIONS | |THE ROUTINE | |BULLETIN UPDATE | |FLAWED TERMS | |Contact Us| |SMICE Library|