After few days since I started this crude oil discussion, I realized I have not make myself clear. This is my first time really looking into crude oil, just like everybody looking at the negative price tag and wanting a piece of it. Before this, I have not touch or even flip on the crude oil chart other than 2008 once looking at how crazy the price was.
So, what drove me here? Same as you, wanting to find an easy way, which does not exist. However, there's always a chance to develop a new ability to analyze a financial tool. In the end, we may or may not be able to make even one cent out of it, just like many whom swim into this crypto pond, some gotten a lucky hand buying at the right price, but didn't manage to print their money out. Some, gotten in the wrong price tag. One of my friend purchased BTC at 15k, and the transaction got stuck for a very long time, by the time he saw the transaction went through, it's stuck at 17k. It's not too late, when BTC went up to 19k, I still heard him say he will liquidate it when touch 20k. Too bad, it didn't happen. But I bet he will sell it even if it touches 20k.
That's just part of what we humans are. Greed and fear always driving us away from making a sound trading decision. So, here's a game plan. I am just a noob in trading crypto. The only thing I know is Currency Exchange, generally known as FOREX. I did not ask you to join me, but it will be nice to have some trading buddies to discuss and get to know more perspective.
Ok. Enough of that self introduction of myself regarding oil. To put it simple, I have no idea what will happen. I just decided to start dive into it, and get to know this product more, and hopefully I will be able to build my a robot to do the work for me. So, I have downloaded a borker's trading platform. If you're interested, you may login to my demo account to witness what I'm doing as well. In order to witness my demo account, you may proceed to www.jafx.com and get yourself a copy of MetaTrader4. My login credential as below:
Account number:
2102020615
Password:
lvws4qh
If you're using a mobile version, below are step by step guide. You can also create your free demo account in app, but I choose JAFX simply because they have more crypto pair than any other REGULATED brokers. At this point, you should understand I'm telling you they're NOT by any chance regulated in any country or regulated by any organization nor authority. So, you should understand the amount of risk dealing with this kind of broker. I'm not anyway affiliated with them, neither myself is their customer. I have my own broker dealing with some other financial instruments. Below image will take you to Google Play for MT4 download. Apple available, but I don't have an iPhone, and I have never use App Store before, you'll have to help yourself to navigate there.
Choose server
Once installation completed, launch the APP. Choose to login an existing account. Manually input server jafx. Then select Demo.
Login credential
As I shared with you earlier, you may input my account number and password here. You'll be automatically redirect to an investor portal.
Account detail
Once you're logged in, you'll be able to see the list of accounts that is authorized on your device. If you have more than one account, you can select which account you wanted to login from here. By using my password, the green ribbon that stated DEMO will be changed to gold ribbon stating INVESTOR.
On going deals
From here, you'll be able to see the on going deals, opened positions and limit orders around. By tapping on the deal, you'll be able to see more detail.
Navigating
By long pressing the opened position, and select CHART, you'll be redirected to the instrumental chart. If you're using your own account, you'll be able to open new order, modify an order.
Charting
Finally, we're in the chart. From here, you can choose to change time frame, flip your device to change orientation, click to add new orders, add in more indicators for technical analysis purpose. It's a very powerful tool.
Summary
I've been very familiar with MetaTrader4, for more than a decade using it, and previously MetaTrader3. For all you know, there's MetaTrader5 that can be customize to link with API feed, there's a chance that we will be able to rig these system to trade with our own cryptos. But that's all for today, I just wanted to let you know, this is my first time looking into crude oil, and have no idea what am I doing. So, please don't take my word as an advice. If you burn your money that's entirely your decision. I made my decision on demo because I'm testing and are not using my real money to trade yet. Even if I did, I wouldn't be telling you how much I loss🤣