31 March 2017 FORECAST LINK. Learn how to trade US Crude Oil on the FX, short for Forex. You don't have to be Goldman Sachs, learn with a Z.comTrade Demo account , then start trading with just $10.
This is not like a gaming website where slot, poker, black jack, roulette or baccarat odds are stacked against. Neither is it a lottery where almost everyone must lose to create a few winners. Z.comTrade marginally profits when you do and therefore wants you to succeed not lose like a Las Vegas or Macau casino does.
Don't become a George Clooney, Money Monster, don't think Forex trading is a get rich quick route to a Playboy lifestyle with glamorous sexy women and a Ferrari, Porsche, Lamborghini or gold Bentley Continental GT, because you can make a loss just as you can make a profit.
Forget about your Russian tycoon luxury yacht, Texas oil magnate private jet, Hollywood millionaire mansion, New York executive penthouse, London city trader apartment. It is impossible to trade without some losses as TV celebrity Forex Million Dollar Traders, Lex Van Dam or Anton Kreil will tell you, so concentrate on not making a loss and be prudent when taking a profit.
Japanese housewives trade the Forex, girls love to shop and diamonds are a girl's best friend but you are buying oil not Jimmy Choo, Cartier, Rolex or exclusive Adidas trainers, then going to Breakfast at Tiffany's. Buying crude is all about buying cheap and selling dear, over and over again, most likely on a McDonald's Big Mac or Pizza take-away. It can get very depressing if things go wrong so understanding how to trade is very important, nobody becomes the Wolf of Wall Street, a Wonder Woman or a Superman trader overnight.
Amongst lots of valuable Youtube free Forex trading advice are those selling nothing but dreams, personal development programs based around their fictitious success as a Forex trader. Don't get suckered in. First learn risk-free with a $50,000 virtual fund Demo Account, using Z.com Trade's MT4 MetaTrader trading platform.
Day trading US Oil has become increasingly popular at Z.com Trade, due to the low margin requirement to open a trade. Also unlike tracking two currencies in currency trading, you just need to decide whether the price of US oil will go up or go down. Obviously you can make a profit when the price goes up but at Z.comTrade you can also make a profit when the price drops by selling short. That takes some understanding so first just concentrate on going long - buying and selling normally.
You could say crude is the Forex Formula One of trading, going up and down consistently faster than anything else. However the main reason to trade in US Oil - WTI - West Texas Intermediate Crude is not because its fine grade with less sulphur, so cheaper to process, but with the government restricting exports, it's the oil that powers the USA, burning up 20 million barrels a day. Unlike stock piles of gold doing nothing, WTI oil is essential to US daily life.
Oil fluctuates more than anything else on the Forex and hits the headlines in more dramatic ways than any other commodity but it is rare that the oil price rises or falls far. Whether it's an oil glut over-supply, an oil spill, new oilfield discovery or fracking controversy, the media goes big when the oil price dips and freaks out when the oil price jumps at the pumps. This is why oil has always been so attractive to those with enough capital to trade in it.
Right now 2017 is set to be a spectacular oil story year as the world changes course. The North Dakota Fracking Shale Oil Rush has stalled and OPEC is cutting back. Bad news you might think but for traders any news is an opportunity, going long when the oil price rises and also making a profit going short when the oil price falls.
Today's slump in US compact car sales follows the fields of unsaleable SUVs in 2008. Chrysler, GM and Ford are now back in profit as the US returns to its love affair the Ford F-Series truck and other gas guzzling SUVs, like the new Jaguar F-Pace and the Range Rover Velar. This then creates an increased dependency on oil and everytime the oil price jumps or the oil price drops somebody takes a profit. President Donald Trump is commited to increased oil production and removing conservation barriers to pipelines. The concrete and steel for Trump's Mexican wall and other infrastructure plans, like road and bridge maintenance, will go nowhere without oil. Will Trump end sanctions against Russia and will Putin supply oil to Ukraine? Theresa May's Brexit is sure to affect North Sea Brent prices and Middle East turmoil continues. Love it or hate it, until renewables take over in the far distant future, we can't do without the black stuff, the big difference now is anyone can trade in it.