• Commodity Online Trading

  • When I first started trading back in the 90’s all we really had were paper charts, a ruler, and a pen to update the paper charts which were almost a week old by the time I got them. Now we all have commodity online trading.

    We no longer have to look at outdated paper charts again. Yea!! Not only do we not have to look at paper charts we now actually have real time charts also. Back in the “old days” we actually had to pick up the phone and call our broker to find out where the price was. Today it’s right on our computer monitor. Just amazing!

    Commodity Online Trading Software Makes Trading Easier

    Today you can actually have software that is installed on your computer that gives you real time price data 24-7. Heck you can even see the markets move tick by tick. All you need is an Internet connection. We have come so far in the last 20 years it’s scary. Come to think about it, we can even trade on our cell phones too! When I started trading there was no such thing as a cell phone!

    You might be wondering what all this means to you if you are a new trader. I can tell you it’s absolutely incredible what is available to you today to learn to trade and to actually trade online.

    The more computer technology improves the more online trading will improve. There will be more powerful applications coming out, better indicators, faster and better fill prices and a whole lot more.

    Today’s fulltime trader can go anywhere in the world and trade just as if they were sitting in an office of Wall street. Believe it or not, I’ve actually placed trades on a boat going down the Amazon river. Talk about mind blowing!

    Today there are economic and USDA reports that come out every day that can affect the markets. Before the Internet we would have to wait to get the news on our TV or call our broker and ask if they knew what the report said. Well those were the old days; welcome to commodity online trading.

    I’m going to show you several charts of the same market; a Monthly Chart, a Weekly chart, a Daily chart, an hourly chart, a 15-minute chart, a 5-minute chart and even a 1-minute chart.

    Monthly Chart: This chart shows you the open, high, low & close month by month. This is the June 2016 Crude Oil contract and it started trading in 1993! Notice something odd? I do, the price of crude today is about the same as it was over 20 years ago.

    Commodity Online Trading

    Weekly Chart: This chart shows you the open, high, low & close week by week. It’s the same contract Crude Oil June 2016.

    commodity online trading charts

    Daily Chart: This chart shows you the open, high, low & close day by day. It’s the same contract Crude Oil June 2016.

    Commodity online trading daily charts

    Hourly Chart: This chart shows you the open, high, low & close hour by hour. It’s the same contract Crude Oil June 2016.

    commodity online trading hourly chart

    15 Minute Chart: This chart shows you the open, high, low & close every 15 minutes. It’s the same contract Crude Oil June 2016.

    commodity online trading 15 minute chart

    Five Minute Chart: This chart shows you the open, high, low & close every 5 minutes. It’s the same contract Crude Oil June 2016.

    commodity online trading 5 minute chart

    One Minute Chart: This chart shows you the open, high, low & close every 1 minute. It’s the same contract Crude Oil June 2016.

    commodity online trading 20 year chart

    You might be wondering why I did this so I’ll tell you. I showed you price data on a monthly chart going back over 20 years and the on the same contract I showed you price data going back over a few hours. Before online commodity charting software this would have been impossible.

    You might be thinking so what good is all this data? That’s a valid question and now is not the time to answer that. Right now all you need to know is that there are tons of data showing you prices month by month for the past 10 years down to prices minute by minute over the last several hours.

    In another article I will show you how to put all this together to help you in placing a trade.