A Free Demo Account Can Help You Learn How To Trade Oil Futures
Learning the ins and outs of day trading Crude Oil Futures may be easier than you thought. As I mentor new members how to trade I insist they open a free demo account regardless of how much they are willing to risk at the beginning of their training.
When choosing the right broker for your demo account, there are several requirements to look for when choosing the right broker. Believe it or not execution fees are not #1 on the list.
The first thing I look for is speed. If the broker only charges $4 per trade but the platform takes forever and a day to execute the trade it does you no good. I recommend dome platforms with price ladders and one-click entry's for fastest entry/exits.
The second item in a platform is ease of use. You would not believe the number of platforms that look like the control panel of a space ship. This is not necessary. In fact it may hurt your performance. I believe the easier the dome/platform is the better you will trade.
The third thing I look for in a platform is the relationship you have with the broker. If the broker does not want to give you the time of day to show you how to operate the dome or answer a few questions, keep looking. You may be able to find another broker offering the same platform that is willing to take the time to answer your questions.
The fourth item on the list is fees. You may think fees are the most important but without the previous items fee's are irrelevant to me. I have talked to brokers that charge $4.50 round trip that are less than pleasant. I would much rather pay an extra $1 to deal with a broker I get along with and like rather than one I hate calling when there's a problem or you have a question.
One other point I want to make is that most brokers require a back-ground and credit check. Therefore, if your credit challenged you may need to look a little harder to find a broker. Don't worry, there are a handful of brokers out there.
Of course this is not the end all be all of finding the perfect demo platform to learn how to trade Crude Oil Futures with but it's a good start. I hope this information helps and Happy Trading!
Article Source: FxTradingStock.com
About the Author
Want to find out more about trading Crude Oil, then visit Damian Hileman's site on how to choose the best Demo Platform for your needs.
by: Damian Hileman
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Word Count: 415
Date: Sun, 30 Jan 2011
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