There's something Big happening in the world of Forex:
If people join eToro at this rate,
they certainly must know something worthwhile!
is it that people are so excited
The answer is because of the Open Book and Copy Trader systems as well as other benefits that they have recently implemented.
1. The Open Book System:
eToro has more than 1,500,000 international trading accounts and they are listing all the top traders on their website in order of performance.
Performance is measured on a weekly, monthly, 3 months, 6 months and yearly basis and you can select the timeframe that you are interested in to look at and compare your trading results to the results of other traders. These lists are updated the whole time.
Example of the 1 month rankings showing the results of the top traders over the last 30 days :
*Results as at 08/07/2011
Wow, will it not be absolutely fantastic
if you can get similar results on you trading account?
The good news is that
with the Open Book System it is now possible!
2. The Copy Trader system:
This is even more exciting!
Some people are paying hundreds of dollars every month for signals that will tell them when to enter or exit a trade.
The newest Copy Technology (again costing you hundreds of dollars per month) enables you to copy the trades of experienced traders directly to your account with no time delay.
eToro now gives you this benefit for free!
The Copy Trader function allows you to copy the trades of successful traders in real time to be duplicated on your account with a certain percentage of your money.
With the Copy Trader system
it is now possible to earn money
even when not in front of your computer!
How does it work?
You select traders on the Ranking lists that you are interested in, and study their results.
You can see here that gregaylmer is a reasonably careful trader and that 87.3% of his trades in the past month resulted in profits.
His account is up by 293% profit in the past 30 days!
He / she will now be listed in your trading account and you can see whenever trades are done:
The trades will be done automatically on your account without you having to be in front of your computer or the computer having to be switched on.
You can also look at the history to see closed trades:
As can be seen above the percentage rate of successful trades is very high on the traders I selected for this test-run.
Does it really work?
The proof of the pudding is in the eating.
I deposited $1,217.00 into my eToro account (10/03/2012) and selected a few successful traders on the 27/03/2012.
I allocated a very small amounts of 2.5% of my account size to the different traders. A total of only 12.5% of my account size has been allocated at this time in order to keep the risk low.
Here is a copy of my eToro live account statement at 30/02/2011 after 3 days of trading:
No losses so far and $34.61 profit!
This is a 2.8% growth on my account in 3 days.
If we can keep this up it can give me a 28% growth over a period of a month which is excellent!
3. Weekly Trading Challenge
4. Forex Bonus
Start trading Forex with eToro
and receive up to $10,000 bonus on your first deposit!
Care for some extra trading cash to get you started? Make your first deposit with eToro and you'll automatically receive a bonus gift of up to $10,000 instantly.
To determine the exact bonus you'll be receiving please refer to this convenient guide.
The eToro bonus reward program:
I am very excited
about the wonderful opportunities
offered by eToro!
However, in order to give you a balanced view about trading at eToro, there are a few things that I must point out:
A. The graphs are not exactly up to standard.
HINT: My recommendation is that if you plan to trade at eToro, open a demo trading account at a broker who uses the Metatrader platform and use Metatrader for the graphs. You have a huge number of indicators available on Metatrader.
B. There are no EA's (= Expert Advisors or automated trading systems) available for eToro and none of the Metatrader EA's will work here.
There is nothing that prevents you from running an EA on Metatrader and then manually activate a trade at eToro whenever there is a signal on Metatrader.
C. The Pipspread (Cost per trade) is a bit higher than at some of the other companies.
There are however some combinations that are cheaper to trade at eToro, so it can be that in the end everything balances out.
In my opinion the positive elements outweighs the negative elements by far.
There is no other forex brokerage that I know about
that gives you a Copy Traders function like eToro has
without charging anything extra!
You should seriously consider it to open an account at eToro.
If not interested in the Special Promotion,
click here to apply for your
Please keep the following rules in mind:
1. There is always risk involved with any kind or trading, no matter what anybody may say or promise.
2. Even though some of the traders have done exceptionally well in the past, it is no guarantee that they may be able to repeat the same kind of performance in the future.
3. Therefore do not trade with money that you cannot afford to lose.
4. If you decide to make use of the trading skills of other traders by using the Copy Trader facility offered by eToro, do not go overboard!
Carefully select the traders you intend to copy and study their results.
5. First test the traders you picked on a demo trading account to see how well they trade and what is the risk involved in their style of trading. If you decide you do not like a certain trader's style, remove this trader from your list and pick another one.
6. Only when happy with the results over a period of time can you start copying the traders on your live account.
7. Allocate only a small amount of money (% of your account) to any one trader. Rather divide the amount you want to allocate between several successful traders. This way you spread the risk. It is unlikely that all of them will have losing trades at the same time.
8. Monitor the results of your trading account on a regular base. If you notice that any of the traders are not performing well, replace this trader with another one which may perform better.
If you can suggest additional rules for making the best of this type of trading, please send it to me and I will publish it here. This way you will help other people to succeed as well.
I wish you all of the best with your eToro trading!
PS: If ever you realize that you need quality training in order to understand the markets better and to trade better, do no hesitate to contact me for your training!
After opening a demo account it is easy to deposit money to start trading with a live account.
If you are having trouble signing up or require any assistance, please do not hesitate to contact us on firstname.lastname@example.org.
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