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<p>[QUOTE=&quot;justafarmer, post: 1321582, member: 3926&quot;]If you are dealing in scrap - the 1st thing you need to do is establish relationships with established, dependable, convenient, reputable buyers. As far up the food chain as possible. You&#039;ll want more than one outlet for sure. They key to making money in the scrap business is. </p><p><br /></p><p>1. Don&#039;t get attached to your inventory. </p><p>2. If you want to play the markets open a brokerage account. </p><p>3. Don&#039;t hold your inventory seeking a higher market. </p><p>4. Don&#039;t hold your buying fearing a lower market.</p><p>5. Your market is your buyers - not the CME.</p><p>6. Set your buy/sell spread according to your market and churn, churn ,churn - turning your cash over as fast as you can. </p><p>7. Set your spread at a reasonable level. It is usually better to make a buck off a customer today and set the foundation for a longterm business relationship than pushing for that extra buck and jeopardizing ever doing business with that customer again.[/QUOTE]</p><p><br /></p>

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