WTI is often referred to as U.S. crude oil or New York crude oil. WTI is the abbreviation of West Texas Intermediate, representing West Texas Intermediate crude oil (West Texas Intermediate), occasionally called Texas light sweet crude oil (Texas Light Sweet), which is the core of commodity trading. Petroleum benchmark. So this article will talk about it in detail: what is WTI New York crude oil and WTI New York crude oil CFD? And what are the trading skills of WTI New York crude oil CFD? For your reference.
1. What is WTI New York crude oil?
You need to know that WTI New York crude oil is a light crude oil. Compared with heavy sour crude oil, it has lower viscosity and requires a simpler desulfurization process, so it is easier to refine and the refining cost is lower. In view of this, the demand for WTI New York crude oil tends to be large, especially in the US domestic market.
The price action of WTI crude tends to correlate with that of Brent, as both are benchmarks for light, sweet oil. However, different global events affect the price of each commodity differently, especially given that Brent is used as a benchmark for the broader light crude oil market.
Finally, since WTI crude oil is mined and blended in the United States, traders should keep abreast of any changes in the US oil market, especially shale oil production that may affect WTI crude oil prices. WTI New York crude is considered the benchmark for the U.S. oil market because it is extracted in the interior states of the U.S., such as Texas, Louisiana and North Dakota, and related shipping ports and world transport links are therefore affected. limit.
2. What is WTI New York Crude Oil CFD?
WTI New York crude oil CFD refers to WTI New York crude oil CFD, which is a financial derivative based on WTI New York crude oil futures or spot. Through WTI New York crude oil CFD, investors do not need to actually hold crude oil futures or spot positions, but can trade their price changes.
Due to its advantages such as flexible leverage, contract specifications and two-way trading, WTI New York crude oil CFD has been popular among ordinary investors in recent years. It reduces the threshold for trading international crude oil to tens of dollars, enabling ordinary people to trade international crude oil. For example: Doo Prime Capital provides WTI New York crude oil CFD trading. The platform not only holds multi-national regulatory licenses, but also completely separates platform funds from customer funds. It has professional indemnity insurance with a maximum liability limit of 500,000 US dollars to protect customer assets. It will be misappropriated and stolen to provide customers with a safe and stable trading environment and brokerage services.
What are the trading skills of WTI New York crude oil CFD?
WTI New York Crude Oil CFD Trading Skill 1: Understanding Market Trends
Market trend is one of the most important factors in WTI New York crude oil CFD trading. You should know the direction and trend of the market in order to make the right decisions. Market trends can be determined through technical analysis and fundamental analysis.
WTI New York crude oil CFD trading skill two: make a trading plan
Before trading WTI New York crude oil CFD, it is very important to have a trading plan. Your trading plan should include entry and exit strategies, stop loss and profit targets, and trade sizes, among other things.
WTI New York Crude Oil CFD Trading Tip Three: Risk Management
In WTI New York crude oil CFD trading, managing risk is crucial. You should have proper stop loss and risk management strategies in place to ensure that your investment does not suffer significant losses.
WTI New York Crude Oil CFD Trading Skill Four: Focus on Information
Paying attention to market information is an integral part of WTI New York crude oil CFD trading. You should be aware of the latest news and events related to the assets you are trading in order to take these into consideration when making decisions. Because whether investors can grasp the key time points, such as before and after the announcement of important economic indicators or important policies, there will be more obvious trends. In fact, grasping the key nodes saves more time than investors watching the market day and night or struggling with analysis, and is more able to find suitable opportunities.
WTI New York Crude Oil CFD Trading Tip Five: Keep Calm
Keeping calm during market volatility is very important in WTI New York crude oil CFD trading. Emotional trading often leads to wrong decisions and losses. You should learn to control your emotions and keep a cool head.
WTI New York Crude Oil CFD Trading Skill Six: Set Stop Loss and Take Profit
Setting a good stop loss can effectively control the risk and control the loss within an acceptable range, especially for some novice investors who have just entered WTI New York crude oil CFD trading. They have no way to accurately judge the market trend, so they must be set strictly according to the plan stop loss. In addition, stop profit is also very critical, because in the investment process, if the market continues to improve, then most investors want to continue to maintain profits, thus ignoring the risks involved. Therefore, setting a profit stop point can help investors make a decisive decision and avoid losses caused by holding the stock index for a long time.
WTI New York crude oil CFD trading skill seven: There must be a complete trading system
Investors need to have a trading system suitable for themselves, use their own trading system to classify the market, analyze the possible trend of each market change, and then make a response strategy for each classification. What investors need to do is to implement their own strategies and deal with some unexpected market situations, learn to minimize risks and start making profits.
WTI New York crude oil CFD trading skill eight: maintain a good attitude
If investors excessively pursue accuracy when conducting WTI New York crude oil CFD transactions, they may miss many opportunities. In addition, when there is a small profit, don't be in a hurry to cash out the position in your hand. It is best to set the profit stop point in advance, so that once the psychological expectation is reached, you can stop in time, and don't blindly pursue high returns. In the event of market reversal, losses should be avoided as much as possible.
The above is the whole content of "WTI New York Crude Oil CFD Trading Skills?", I hope it will be helpful to all investors. A successful investor should learn the above WTI New York crude oil CFD trading skills, and have the correct operating philosophy and a good attitude to face various market conditions in the market.