As you know, oil is a very popular product among traders because it’s pretty simple. The supply and demand are constantly changing, however, volatility stays stable.
So, here are several steps of how to get started oil trading:
First of all, find out how the oil market works. You, usually, don’t need large amounts of crude to trade the oil markets because most crude and gas trading is handled via futures. The essence of any futures lies in the delay of the payment i.e. you negotiate a price at which a seller will give the asset to a buyer in the future. And so, instead of purchasing the crude and storing it for selling in the future, you can buy a futures contract and then sell it before expire.
Secondly, choose how you would like to trade. There are three popular ways of earnings: futures and options, CFD trading, and investments via stocks and ETFs. Choose the way that suits you better, and start trading.
And the last one, decide on a platform for trading. Open your position on Royal Bitex and set your conditions for trading. To start trading, you have to point your stake (that shows your profit or loss you’ll have when the market will moves). You can also mention your limit to stop your position once it achieves a certain level.