Live Commodities

These are some of the most underrated tools in the trading world, but they surely are one of the industry’s backbone pieces – so throughout this article we will go over the instructions, descriptions and uses of the live commodity quotes tool.

The Commodities are the core of your trading strategy:

For those who trade in gold, platinum, oil, corn and so on – the materials you are dealing with, also called the assets, are the very core of your business and of your trading existence and, as such, you should definitely make sure you dominate everything about every single one of them. There are a lot of tools that will make this easier to process, however it is up to you, your research and your willpower and drive to succeed to learn more about the subject. We often tell ourselves that information is key, and one of the hardest cores of any trading strategy is having the information that concerns our core assets, and in this case the commodity you are trading with.

Having all of the information about Gold Price, Silver Price or Oil Price may not be as vital:

Now, let’s break this down for you, there are a lot of tools out there that allow you to have all of the information about every single one of the assets there are available to trade –but let’s face it that you won’t need to know everything about every single one of them. If you’re a platinum trader, you might need to learn about the price of gold twice a week – but you will definitely want to learn the price of platinum every day and, depending on your trader profile, maybe even in an hourly basis!

As so, you should always make sure the information you get is adequate to the trading strategy you’re working with – better have that in mind.

Keeping an eye out for Commodities you trade in is required at all times:

So, as it is told in the paragraph above, if you trade with a certain asset you want to know its price all the time or at least as regularly as possible – so this is what you should have in mind while filtering the info you want to be displayed to you (our advice is to focus on the asset you primarily trade in and give it a prominent spot on top of the list).

Price ranges, current prices and expiry dates for commodities and their contracts have to be monitored:

This tool brings a lot more information about assets, and it is not only about the price – you can also have it displaying the expiry dates for live contracts on certain assets so you can monitor them from a simple chart consultation. Alternatively, you’ll also get vital information such as how the price ranges throughout a certain time period.

About the last quotes and quotes’ price percentage change:

It is always useful to have the last quotes in mind when starting a fresh day at trading – you’ll also want to know the opening and closing price, as well as a monthly, yearly, weekly or daily average in price ranges so that you may better place the assets’ price in your mind in order to know when you face a bargain or when you face a price that is pure poison for any investor that wants to purchase that value.