Dear reader, investor and steemit enthusiast, I am here by doing an update reference my account, based on ℹ️ where and what I have been up to, the silence and if it was worth it. Have I lost traction control in steemit?
To be honest recently I lost hope and faith in trading as it felt to me that I was doing this for so long but yet I had nothing to show for it.
But about two weeks ago I decided to give it another go, this time I wouldn't be doing it on my own so this may make me or break me.
To my surprise there was never anything wrong with my trading but the fact that I was using leverage.
Let me elaborate, trading accounts with minimum deposits up to $10 and offering leverage of 1:500 is just way too much from my point of view knowledge and experience. It deprives you of so many things.
Subsequently I've been doing some work on Russian crude oil. After Russia declared war on Ukraine, countries decided to sanction Russia and no longer except oil advances or any produce from them.
In turn this meant that supply of crude oil may be limited making the commodity more difficult to possess, making it more valuable.
The price skyrocketed unfortunately I was too money conscious to join in this trade and take the risk..
But now I know a few facts and as I am not going into this trades without any knowledge of what I'm doing.
Recently I have doubled my trading account as my initial deposit was $300 us dollars now it stands at $600 USD.
President Biden from the United States of America has declared a release of crude oil to cover the loss of crude oil that was supposed to be supplied by Russia but this may prove to be easier said than done as most of the existing oil suppliers do not have the resources to produce oil at the scale that Russia used to.
Latest news from the Eu. Confirms that they won't be cancelling oil from Russia immediately but gradually over the next six months to avoid large price movement's in the crude oil market.
For now we expecting price to reach levels off $125 to $130 per barrel meaning there is still high potential for movement to the upside regarding crude oil which also then affects the price of gasoline and food as the gasoline gets more expensive it's more expensive transport food but then again if crude oil gets more expensive gasoline gets more expensive as it's a product derived of crude oil.
From here on forth I will be buying crude oil every time it becomes significantly cheaper especially when it hits the prices off $104, $96 and or $92 us dollars respectively..
I'll be updating my account on my progress so stay followed and I will update you the managers I use and the brokerage I use.
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