How to Oil Trade
Let us you are a new oil trader wanting to begin oil trading but you don't know what is oil trading or even how to oil trade. Well this tutorial will get you started explaining what you need to do before starting crude oil trading and tell you one or two things about how to oil trade.
first thing you need to know when it comes to how to oil trade are:
- Oil Trading Demo Account
- Crude Oil Trading Platform
- Setting Up Oil Tutorials
By following these 3 steps then setting up how to oil trade becomes easy for you as a oil trading beginner.
Crude Oil Demo Account
The first time as trader you start doing some research about oil , you will be so confused as oil trader that you do not even know where to start or what to start with, even getting a demo crude oil account & the process of setting up this oil trading demo oil trading account will be confusing.
So to setup a practice crude oil account you will need to just follow these steps:
Step1: Find a good oil broker - Oil Trading demo crude oil trading accounts are provided by oil brokers
Step2: Go to this crude oil broker and search for the link "Open demo oil trading account" or "Open Oil Trading Practice Account"
Step3: Once you click this type of link, you will then arrive at a page where the broker will ask you to fill your details so as to register for the demo oil account , The details are your name, phone contact & e mail and country.
Step4: Once you fill your details on this form click the register button, once you finish this registration your crude oil broker will then give you a "username" for the account you have registered and a "password" for the account. Along with this a broker will also provide a link where you can download their oil trading platform. Click the link and download the oil trading platform.
Crude Oil Trading Platform
For this step you'll then install the platform you've just downloaded.
To install oil trading software
- Navigate to download folder(to navigate to download folder, maximize the firefox web-browser panel and click key board short-cut keys CTRL+J, this will bring a pop up panel of the download folder)
- Double click the installation package of the oil trading software you have just downloaded.
- Follow the instruction by clicking "accept" and then click "next", "next"…. Until you get to the "finish" button, then click finish button & your installation is complete.
To Open the Oil trade platform
- Navigate to desktop & look for the shortcut Icon for the Oil Trading platform, it should have the name or logo of the broker. Or you can go to "Start menu" bottom left corner of your comp and form the programs menu look for the name of the oil trading platform.
- Once you Open the oil trading platform, then you need to login to your oil trading platform:
- To Log in
- Go to "File" at the top left corner of the oil trading platform
- A dropdown menu will appear, from the option look for "login" click it
- A Username & Password Sign in panel appears, Input your password & username you got when you registered with your crude oil broker.
- If you forget your username and password, open your e-mail account that you registered with & you'll have gotten an e-mail from the broker where you can refer the username & password details.
- After you've logged in to your account, now you're ready to learn how to oil trade and how to place trades using these oil trading platform.
How to Oil Trade with the oil Platform
So as a beginner trader it may seem complex but let us just look at some pointers on how to oil trade this oil trading platform.
The first windows are market watch this is simple straight forward window that display oil prices that you will be trading. You can also right click on any crude oil price feed for example any MT4 symbol to open a display of a oil chart like the one above, the oil chart you will open, click open Chart.
The Data window panel will show data about you logged in crude oil trading account, & data of indicators as shown in the above screenshot.
The terminal will show account balance & all open trade, to expand this widow, hover your mouse until the cursor changes, then click & hold down mouse button & move the mouse up.
Then there is the menu bars, example File, View…. If for example you want to hide the crude oil market watch widow, click view and uncheck/untick the crude oil market watch widow, the crude oil market watch window will disappear. To make it appear again click view again, then check/tick market watch window, it will reappear. Each button on this menu is self explaining for example charts button is a button that manipulates the charts opened, changes timeframe, generally all about charts.
To learn the complete MT4 crude oil trading platform tutorial go to MT4 Oil Tutorial and About Oil Trading Platforms.
By now you already know how to trade and can even place a buy or sell oil trade on the oil trading platform by right clicking anywhere on the oil chart window panel above, then click trading, then open a new buy or sell oil trade using the trading panel that pops up.
But because you do not know when a trader buys or sells a oil trading instrument, and because you do not know how to oil trade with market orders, you need to learn just a few beginners oil trading tutorials to complete these how to oil trade guide, & because these guide cannot fit on this page here are the links to these how to oil trade tutorials:
Setting Up Oil Lessons
1.How to Begin Oil trade For Beginners an Online Oil trade Guide
3.Online Oil trade Tutorials and Oil trade Education
4.Best Oil trade Courses and Oil trade Training Made Easy
13.Best Oil trade Platforms/ Best Oil trade Software
14.Live Oil trade Account Types
15.Oil trade Demo Accounts/ Practice Trading
16.How to Trade Oil Trading/ Oil trade How to Make Money Oil trade
