Steps To Setting Up For Beginners
For beginner traders wanting to learn how to trade the commodities trading market which is a complex market, the question is how to start? - The best method to learn is to first put away your money open a practice trading account this way you can start trading online without any deposit, meanwhile, train by reading online tutorials available on various sites available on the internet, although we would highly recommend just sticking to the one and only top, best, recommended Commodity Trading guide website - this website, but feel free to go anywhere else and waste time on those other sites.
How to Open a Demo Account
This website covers all Commodity Trading training lessons - the quickest method of how to start is to follow the following steps:
- Find a free online guide for beginners guide - this website
- Find one of the best online brokers
- Download the free trading platform software
- Open a free demo - A demo is meant for practice, with this practice you can begin practicing without depositing or investing money, on this commodities account you trade the real commodity market only that you will be transacting with virtual money.
- After registering for a free Demo, come back to this site and on the homepage follow the steps to begin studying the trading lessons.
After following the above steps, you are ready to start, begin with the free tutorial as displayed above.
Learning these tutorial concepts will take at-least a few days to a few weeks of more, some concepts can be very confusing for beginners at first, but here we have simplified them for you, but we aren't going to lie to you, at first some of these will be very confusing. For example, you'll get knowledge about buy stop, buy limit, sell stop, sell limit, entry limit commodity order, entry stop commodity orders, I can feel some heads spinning, especially for the novices, wait until you open the platform software and you'll freeze & stare at your screen for 10 minutes trying to figure out what is what. Don't worry within the next ten minutes this training course will teach you the whole commodity trading software with 2 simple lessons & you'll know the trading platform software & operate it with the ease that you operate Microsoft Word: MT4 Commodities Software Guide
The software that is used for commodity transactions is called MT4 commodities software or just MT4
The screenshot below shows user inter-face of this platform.
Commodity Software for Online Trading and Placing Orders
After this you are completely setup, navigate to the top navigation menu & access the lessons explaining the terms used in the global commodity market & other basic commodity concepts & strategies.
Commodity Trading Software Platforms:
What is a platform? This is the software used to connect to the commodities trading market by connecting traders to the broker so that they can place trade transactions via the internet (online).
Online Commodity Trading Brokers:
Traders must place transactions through a broker: you cannot trade commodity without a broker. Brokers do not charge you anything to open an account, i.e. There is no setup fees. The commodity broker only charges if you make commodity trades, if you do not transact you're not charged. The brokers make money by charging a few dollars for every transaction this is known as the spread.
Commodity Trading Charts:
Commodity Trading Prices are analyzed through graphs that are oftenly referred to as commodity charts, in the basics guide at top navigation menu of this web site, you'll learn these charts and how to interpret these charts to generate buy & sell commodity trade signals.
Learn Basics - Commodity Charts & Technical Analysis
It is best to begin commodity trading with a demo first, then after you start making profits on the demo you can then open a live account and deposit any amount you want, but before you do that make sure you read these three topics, commodity trading money management, commodities leverage & margin, commodity trading plan. Beginners request the question how much money to start Commodity Trading with? The answer is more money you've in your real account the better the risk management, because you'll not be undercapitalized.
How Much Money to Begin Commodities Trading?
Do not start with $10 dollars, even if your commodities broker tells you that you can begin with that amount, in fact do not begin trading with $100 because this amount is not enough to trade with. It's best to save up and begin when you have $10,000 dollars which is the minimum amount recommended to start commodity trading with.
- If you want to begin with $10,000 dollars, open a micro commodities account and only open micro lots
- If you want to start with $100,000 dollars, open a standard commodities account and open standard lots
There are 2 types of commodity trading accounts that traders can open: micro and standard. For each the recommended starting capital is specified above.
How to Use Practice Commodity Trading Accounts
However, for beginners there is a practice commodity trading account provided for practice & this way beginner traders can start without any deposit investment & practice risk free on the demo until they learn the basics and the various techniques used in trading the commodities market. It is recommended for beginners to follow this method where first they start by practicing without depositing real money as they take time to learn what is required to trade profitably.
Follow these steps:Learn to practice with a free demo for 30 days then open a real account
Technical Analysis and Key Concepts Training:
Know all about technical analysis & how to combine technical technical indicators to form a complete system which you can use to profitably generate signals. Read all the tutorials to make sure you have all the required knowledge.
Finally, be ready to study & do a lot of hard work - study each & every topic here & practice these concepts on a free practice account.
We go beyond what most traders know when it comes to explaining what Commodity Trading is and how commodity market works and provide you with as many tools as possible. We go into in-depth analysis of commodity prices.
The data on this web site answers the question, how does Commodity Trading work? & has more info than what you'll ever find on any other online training web site or book, the screen shots, pictures and image examples make the explanations so easy such that we have compressed years of experience on a single web site. Be ready to study from these tutorials until you know how to make profits in the Commodity Trading Market.
