Titan Elite Trading — a professional education for experienced futures and commodities traders. Everything here is teaching: books, courses, and a free community, built around a library that started with Futures Under Fire and keeps growing. We teach risk, positioning, spreads, options on futures, and the discipline that keeps a trader in the game — education only, never advice and never signals. Start with the free Inner Circle community, read the library, and study at your own pace.
By Grant MercerIn June 2014, inspectors at the port of Qingdao — one of the largest and busiest ports in the world — discovered something that should not have been possible. Warehouse receipts for stockpiles of copper and aluminum, the documents that certify who owns stored metal
By Grant MercerEvery lesson in this book so far has concerned the market breaking the trader. MF Global is the episode where the intermediary broke the trader. It begins not with a client loss or a market dislocation but with a boardroom decision: a brokerage, entrusted with othe
By Grant MercerOn October 31, 2011, MF Global — one of the world's largest brokers for commodity futures traders — filed for bankruptcy. It was, at the time, among the largest bankruptcies in American history. But the size of the filing was not the shock. The shock was what the b
By Grant MercerFor decades, the price of tin was not really set by a market. It was set by a committee. The International Tin Council — an organization of producing and consuming nations — maintained a buffer stock of physical tin, buying when prices fell toward an agreed floor a
By Grant MercerIn the early hours of Tuesday, March 8, 2022, the price of nickel did something no major industrial metal had ever done. On the London Metal Exchange, the benchmark contract for the metal that goes into stainless steel and electric-vehicle batteries spiked more tha
By Grant MercerOn February 24, 2022, Russia launched a full-scale invasion of Ukraine. Within days, the world's most important wheat-export corridor — the Black Sea — was effectively closed: ports blockaded, shipping lanes mined, insurance withdrawn. Two countries that together a
By Grant MercerAn educational guide for futures students.If trading outcomes are as noisy as the companion article ("Noisy Feedback in Trading: Why Outcomes Mislead") describes, a serious question follows: how does anyone actually get better at this? Skill in commodity trading is
By Grant MercerAn educational guide for futures students.Futures Under Fire is organized as twelve chapters on twelve risk areas — volatility, liquidity, basis, operations, counterparties, regulation, technology, incentives, psychology, structural change, execution, and learning.
By Grant MercerAn educational guide for futures students.Futures Under Fire contains more than information — it contains frameworks: reusable ways of organizing thought about commodity risk. This article presents those frameworks as study objects: what each one is, what question
Avoid costly tax mistakes with this detailed checklist for advanced futures traders. Learn from 'Futures Under Fire' and discover strategies like mark-to-market accounting and private structures to keep more of your profits.