Etoro

Forex trading can seem like a lonely life, when your trades aren’t going as you’d like them to and everybody else seems to be making all of the right moves at just the right time. Wouldn’t it be nice if you could connect with the best Forex traders, being able to see what they do, ask them questions and copy their trades? Well, that’s exactly what Forex traders can do at eToro, thanks to the revolutionary OpenBook.

OpenBook from eToro allows you to make connections and associations with all other traders using the service. You can see who the most successful traders are, you can watch them open and close positions and, most importantly, you can copy their trades and share in their profits…and losses.

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Etoro

If you’re a new online Forex trader, you may still be getting your head around some of the concepts and functions of the various markets and trading platforms. There are many rules, techniques, systems and methods that must be understood before you can trade successfully. One such function is leverage. In Forex trading, leverage is a term you will hear regularly and a function that is vital in order to make trades at online Forex brokers such as eToro.

What is leverage? Simply put, leverage works like a loan, allowing you to trade much higher volumes than you can afford to buy with your bankroll. Leverage is displayed in the form of a multiplying factor (x400) and is simply a way of magnifying you position to a large enough size to be able to make the trade you want.

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Etoro

Online Forex traders at eToro and other sites across the internet have been keeping a keen eye on events in both Cyprus and Italy today, especially if they’ve recently bought EUR/USD positions. This is because, in the midst of a woeful run for the single currency, pressure for the euro has been further compounded by the requirement of a bailout for the Cypriot economy and political unrest in Italy. However, even though the EUR/USD currency pair hit a four-month low during early Thursday trading, the euro ended the day with a flourish, actually finishing marginally up against the US dollar when the London trading session closed.

Earlier today, the banks in Cyprus opened their doors to customers for the first time in weeks and, even though a €300 euro per day limit is in place to avoid a run on the banks and further economic pressure, the opening of the banks has been seen as a good sign, even if there’s still massive uncertainty regarding Cypriot’s money.

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Etoro

Whether you’re a new online Forex trader or you’re an experienced ‘old hand’ at buying and selling currency pairs, the ability to copy other Forex traders and share in their good fortune will be an advantage. No matter how long you’ve been knocking about the virtual trading floors, there will always be someone who knows better than you and, if you can find such traders, maybe you could make gains by copying their trades, which is exactly what you can do with the eToro OpenBook.

Over 85% of all copied trades at eToro are profitable, which is more than can be said for non-copied trades. The reason for this is your ability to fully analyse other traders positions, both current positions and previously traded positions. This allows you to only copy online Forex traders who display a proven track record for making profitable trades at eToro.

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Etoro

Whether you’re a new Forex trader looking to cut your teeth in the big, wide world of foreign currencies or you’re an experienced pro, there are many Forex bonuses and benefits at eToro that will help you on your way to making a profit. You will receive Forex bonuses when you first make a deposit at eToro, you can earn bonuses in the trading challenges for both funded and non-funded traders plus you can benefit from referral bonuses, tight spreads, zero commission and fast withdrawals when you trade Forex online with eToro.

If you’re a new trader, you can open a free practice account that allows you to try your hand at trading without any financial commitment from yourself, while also competing for the bonuses on offer in the eToro Trading Challenges, which are competitions that award the best traders Forex bonuses, bonuses that can be used to trade as real money transactions.

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Etoro

Each and every day more and more new Forex traders hit the virtual trading floors at sites such as eToro but very often these new traders don’t really know what they’re doing and they often end up losing money. That’s why we’ve compiled this simple online Forex trading startup guide, which offers simple, common sense advice to get you on your way.

First and foremost you must understand the basic mechanics of currency pairs and Forex markets. eToro offers a huge wealth of useful information that will offer you a great insight into the world of Forex trading with various guides and pages including the eToropedia, which teaches you all you could want to know about the fundamental processes involved in trading Forex.

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Etoro

The world of Forex trading is vast and wide, with many, many currency pairs to speculate the futures of. Some online Forex sites such as eToro have dozens of currency pairs to trade, some even more! With all of this choice, a question you should ask yourself is “How many currency pairs should I trade?” This question has no definitive answer that fits everybody. However, one portion of the answer is simple – “As few as you have to.”

You may think that trading numerous currency pairs will offer you more opportunities to profit…and you would be right. However, with these additional profit opportunities come an equal number of chances to lose money.

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Etoro

No matter which online Forex broker you use, whether it’s HY Markets, AVAFX or eToro, many of your fellow traders will be basing many of their decisions to open and close trades on Forex signals. ‘What exactly are Forex signals?’ I hear you say. Simply put, they’re calculations made by experienced individual and corporate traders that specify a number of prices, limits and values regarding a currency pair, offering the best prices to open and close trades, in theory. ‘Why should I use Forex signals?’ This is a common question posed by many ‘a new trader but a conundrum not so often queried by seasoned vets of the virtual Forex trading floors online.

Successful producers of Forex signals will have a proven track record of making the right calls and they will have many followers who employ their strategies to good effect. Likewise, poor performances will be highlighted. However, any fool can make a lucky trade. In fact, ‘beginners’ luck’ has carried new online Forex traders some distance before they have returned to terra firma with a bump. But the successful producer of Forex signals will have years of long term profit behind them, taking losses, but out weighing them with bigger profits.

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Etoro

We’re often telling you about the GBP/USD or the EUR/USD currency pairs being traded online at sites such as eToro but we don’t often mention the AUD/NZD. However, with an interest rate decision to be made by the Reserve Bank of New Zealand and continued high unemployment in the country, the New Zealand dollar has been losing ground across the board during the first two days of the trading week, especially against its Australian counterpart.

For the past 8 months or so the AUD/NZD currency pair has been losing ground but many observers and market insiders believe that the Aussie dollar will have somewhat of a resurgence, as it has been experiencing over the past couple of days, even though the Reserve Bank of New Zealand is expected to keep to the current 2.5% base interest rate. This is because much of the discussion and language coming from officials at Reserve Bank of New Zealand has led many to believe that the central bank is in a more hawkish mood, backed by rising house prices and an increase in private sector credit and, even though no interest rate hike is on the cards, the Kiwi has still felt the pressure recently.

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Etoro

Last week at London’s Grosvenor House Hotel, one of the industry’s leading trading magazines held its annual award ceremony. The night was filled with various notable winners from many sections of the industry and, for online Forex traders, one highlight was when eToro won the Shares Magazine Forex trading award in the ‘Best Use of Social Media’ category for their OpenBook.

The eToro OpenBook is a social media trading platform that allows you to benefit from other traders’ experience, success and it even allows you to share their profits. Online Forex traders at eToro can connect with other traders, sharing tips and advice through the groundbreaking facility. This revolutionary trading tool has been increasing in popularity since its launch and now it is also receiving the recognition that it deserves.

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