I thought I would put together this page to explain a bit about my strategy and how is money made in forex trading etoro is. Since then, they’ve moved towards becoming a social trading platform. I guess the best way to describe it is the “Facebook of Forex”.
And so I decided to give it a go. Zip I can comfortably state I have no experience in trading forex. I’ve done some reading on the subject and now know what a pip, spread, order etc. But, I wouldn’t trust myself to actually invest money in Forex. The process is relatively simple, just look for traders on the network who have a good record and then click a “copy” button. From now on, all their trades will be be copied by your account. So am I Making any Money?
That’s My Chart As you can see, although there have been a couple of dips, I’ve actually done ok. Both the dips on the chart were the result of my noob investing experience. Instead of copy-trading I went all maverick and invested in Apple before it decided to take a dive. Forex is already high risk, so don’t make it even worse. Toro has great filtering tools to find the exact type of trader you want to follow.
Look for someone with a majority of low-medium risk traders, and a low weekly drawdown Diversify Spread your investment over numerous traders. By copying as many traders as your budget will allow, you’re able to mitigate the risk of having your entire investment wiped out by a single trade. Toro Stocks are a Good Way to Diversify I used to stay away from following traders who invested in stocks on etoro, but that has changed since etoro introcued real time stock trading. Choose Frequent Traders to Copy You don’t want to be stuck copying a trader who only logs in every couple of weeks. Look for gurus who make frequent trades. How Much Money Do You Need to Get Started?