If you are a novice trader in CPO futures trading, fundamentals data and news will always be very hard to get on time or we can just say that you won't have the first hand information, so to say. Therefore, back up yourself with certain technical skill on how to read technical indicators like 20ma, RSI, stochastic before you start trading will be a better choice.
Then, how to succeed in CPO Futures trading?
Do not ever follow broker's advice or other trader you know to trade because you may not have the same emotion or psychology on discipline that they have, which can be a disaster that you yourself cannot take it.
CPO Fundamentals data that always watched by majority traders have been placed in my blog for you to refer and I think it is a good place to start as a beginner. Fundamentals data allows you to digest how will be the impact of those data can affect the trend of cpo futures in Bursa Malaysia Derivatives and how are the major players plan their next trading strategies after those data being released. The data like palm oil export figures released by those two well known palm oil cargo surveyors will be the most closely watched by all palm oil traders. The data consistently being released on five specific dates and times every month. Another important figure being released is the government agency official figures out in every middle of month about demand and supply of palm oil related products.
CPO Technical trading will be regarded as the most trading tools being used by majority crude palm oil futures traders; therefore, as a novice trader, you should build your base with technical trading first which it indirectly helps you build up your trading discipline. Buy some good technical books about cpo futures trading and start following the method of the trading signal given by those indicators which help build your own trading rhythm in future. Don't be shy asking if you want to succeed in CPO Futures trading.
| CP Yeoh is presently based in Malaysia with over 15 years of crude palm oil futures trading, where he developed his interest in futures trading. As crude palm oil futures has not been an area the average investor would consider, but that has changed and suddenly there are so many opportunities out there to profit from futures trading. CP Yeoh enjoys sharing his knowledge with other enthusiasts. He has prepared a complimentary technical report packed with facts which you can download at CPO Futures trading. Article Source: http://EzineArticles.com/?expert=CP_Yeoh |
