A lengthy explanation of my crude oil view by davidke20

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· @davidke20 · (edited)
$8.34
A lengthy explanation of my crude oil view
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.

[<img src="https://files.peakd.com/file/peakd-hive/davidke20/jq86zUTC-image.png">](https://play.google.com/store/apps/details?id=net.metaquotes.metatrader4)

### Choose server
![image.png](https://files.peakd.com/file/peakd-hive/davidke20/BQxP1OiN-image.png)
Once installation completed, launch the APP. Choose to login an existing account. Manually input server jafx. Then select Demo.
---
### Login credential
![image.png](https://files.peakd.com/file/peakd-hive/davidke20/4pQJkng8-image.png)
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
![image.png](https://files.peakd.com/file/peakd-hive/davidke20/wtNvnVr2-image.png)
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
![image.png](https://files.peakd.com/file/peakd-hive/davidke20/kb9fh0Qa-image.png)
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
![image.png](https://files.peakd.com/file/peakd-hive/davidke20/FMIKyj3X-image.png)
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
![image.png](https://files.peakd.com/file/peakd-hive/davidke20/oFBDeb4a-image.png)
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🤣
👍  , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , and 188 others
👎  
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vote details (253)
@bossku ·
Thank you for your support. Here's a !shop as token of appreciation.
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@teamcn-shop ·
Hi~ sindoja.sct!
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 Currently you have: 52 SHOP
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Are you bored? Play Rock,Paper,Scissors game with me!
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@crypto.piotr ·
@tipu curate
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@tipu ·
<a href="https://tipu.online/curator?crypto.piotr" target="_blank">Upvoted  &#128076;</a> (Mana: 0/20 - <a href="https://steempeak.com/steem/@tipu/tipu-curate-project-update-recharging-curation-mana" target="_blank">need recharge</a>?)
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@davidke20 ·
Thank you !shop !tip
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@teamcn-shop ·
你好鸭,crypto.piotr!

@davidke20给您叫了一份外卖!

**南瓜糕点** <br> ![](http://ericet.vornix.blog/wp-content/uploads/2018/10/IMG_0089.jpg)

吃饱了吗?跟我猜拳吧! **石头,剪刀,布~**

如果您对我的服务满意,请不要吝啬您的点赞~

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@tipu ·
&#127873; Hi @crypto.piotr! You have received 0.1 STEEM tip from @davidke20!<br><p><strong>@davidke20 wrote lately about: <a href=https://www.steempeak.com/@davidke20/crude-oil-for-idiots-continued rel="noopener"> Crude Oil For Idiots - Continued</a></strong> Feel free to follow @davidke20 if you like it :)</p><p><a href="https://steempeak.com/steemit/@tipu/tipu-tips-guide" rel="noopener">Sending tips with @tipU - how to guide.</a></p>
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@project.hope ·
Resteemed already. Upvote on the way :)
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@davidke20 ·
Thank you !shop !tip
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@tipu ·
&#127873; Hi @project.hope! You have received 0.1 STEEM tip from @davidke20!<br><p><strong>@davidke20 wrote lately about: <a href=https://www.steempeak.com/@davidke20/boring-lock-down-does-not-mean-unproductive rel="noopener"> Boring Lock Down Does Not Mean Unproductive</a></strong> Feel free to follow @davidke20 if you like it :)</p><p><a href="https://steempeak.com/steemit/@tipu/tipu-tips-guide" rel="noopener">Sending tips with @tipU - how to guide.</a></p>
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@teamcn-shop ·
你好鸭,project.hope!

@davidke20给您叫了一份外卖!

**烧烤** <br> ![](https://ipfs.busy.org/ipfs/Qmbv9p4Xa3sSNwcdnhT83ubjTXW9tctEdSw4nZ6qatxRdh)

吃饱了吗?跟我猜拳吧! **石头,剪刀,布~**

如果您对我的服务满意,请不要吝啬您的点赞~

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@ajewa · (edited)
This is such a detailed explanation and I am glad you put a note of caution at the end of the post, great work buddy.
👍  
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vote details (1)
@davidke20 ·
Well, that's the ugly truth. Profitable traders, would have been quietly making their millions, why would they soak in blogs or discussion forums? But who knows, I may be on to something? Download the app, login to my account and watch me fail(or make fake money in demo account).
👍  
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vote details (1)
@crypto.piotr ·
solid read @davidke20
Thanks for sharing your thoughts on that particular topic

Check out also post by @carlos84: [Why the current oil price? |Opinion](https://steemit.com/hive-175254/@carlos84/why-the-current-oil-price-or-opinion)

Enjoy your weekend,
Yours, Piotr
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@davidke20 ·
$0.02
Thanks for feeding. Already read that, needed sometime to reply because it's clearly given a different point of view, as a Venezuelan citizen sitting at the world largest oil reserves country and being limited production for years. I'm collecting detail for the reply 👍
👍  ,
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vote details (2)
@gbenga ·
> wanting to find an easy way, which does not exist.

First you got this on point, a lot of people just started looking at the oil price suddenly because they want free investment or if possible the seller pay them for buying crude oil :)

> 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.

Will i say greed or investment spirit? Actually the right answer is he didn't know when to pull out or when to call it a break. 

Truthfully, this is a well explained trading class with the demo account and i will go give it a try with a demo account (i will not want to burn my money on something i am not sure about). Maybe i can also get my hands on some free oil.
👍  
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@davidke20 ·
Thanks for the encouraging reply. We will discover together on this financial instrument.
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