Thousands of traders buy and sell oil online every day. The 70Trades Oil Trading course will show what it means to become an oil trader.
Why trade oil?
Oil has become a pillar in the online trading community due to its volatility and profit opportunities. Oil prices often fluctuate when weather changes or safety issues arise in certain parts of the world. This makes following the new cycle ideal when trading oil. Because anyone, regardless of their investment experience, can follow the news on television or online with ease, oil trading especially appealing to beginners.
Learn to trade oil online
The Oil Trading course provided at 70Trades is ideal for both beginners and more advanced traders. We will teach you all of the requirements to become a successful oil trader, including:
- doneOil trading fundamentals
- doneMake money from news
- doneAdvanced concepts
- doneAnalysis and reports
- doneEconomic Calendar (oil)
- doneOil in the trading platform
Start your free Oil Trading course now and learn everything you need to start earning a profit. Our trainers are standing by to give you 1-on-1 coaching and answer any questions or concerns you may have. We look forward to speaking with you soon.
Taking advantage of oil prices
Here is a case study of how you can take advantage of price changes of oil barrels.
Michael wakes up in the morning and turns on the news. The top news is that civil unrest in Nigeria has caused one of the oil refineries in the country to cease production. Michael is aware that Nigeria is one of the leading oil producers in the world. This means global oil capacity will now decline in the short term.
He decides to place a buy bet on oil prices, believing that they will rise. Historically, when oil reserves fall, the price goes up and vice versa. The price of oil rises shortly after the news announcement. Michael closes his by order and takes a nice profit. Later in the day, Michael hears on the radio that rebels in Nigeria and the government have reached an agreement regarding a solution to some of their issues. Michael rightfully decides that this could mean Nigerian oil workers could return to the refinery in the very near future, raising oil production. Michael knows that increased production could lower oil prices again, and so he places a sell order on oil. Soon after Nigerian refineries are in full production and the price per barrel of oil starts to fall. Michael closes his trade and takes his profits.