The Forex Trading Industry is a very competitive one. This is why there are many online resources that are geared towards helping you trade better with EToro.
If you’re just starting out and need some extra help with the strategies involved or the terminology, these are the places to go to. With the variety of resources available on the Internet you can learn more than one thing at a time.
And I’ve come across people who are willing to teach using their free trading videos which is an added bonus.
Etoro’s Online Resources
EToro is a great online resource for all the Forex Traders. They offer lots of great tools for any kind of trader.
Whether you’re a newbie or an experienced trader, they have plenty of tools for you. Their systems can make your life much easier when it comes to trading.
Below I’m going to tell you how to trade better using EToro.
Account Creation Step-by-Step
One of the first things that you need to do when you want to trade better with EToro is to create a trading account. This will allow you to trade with EToro’s automated trading platform. Here’s what you need to do.
In the top left corner of the screen there is a button that says “Create a trading account.” Click that link. Once you’ve created your account, you’ll be ready to get started.
The next step when you want to trade better with EToro is to go to the trading section and click on the link that says “Sign up.” Once you’ve done this you’ll be ready to get started with trading.
You have to follow the instructions given to you on the screen. Story is pretty good about explaining it all for you so don’t worry too much about that part.
How to Invest Properly
Once you’re at the trading section, you have two main categories for your investments. These are your forex (FX) and spot (USD/JPY). You can switch between them with a single click.
I really like these two sections because not only do they teach you how to trade better with EToro but they also show you how to make these investments properly.
From these two categories, you are then going to learn how to select which currency pairs you wish to trade. It’s pretty obvious which one I’m going to focus on here. This is where the tutorials really come into play for me.
When you’re selecting the currencies to trade, you want to use the pick what you think is the better option. If you choose the wrong currency pair to trade, it’s probably not going to make you money. With the right forex trading tutorials, you’ll learn how to make these trades well.
Then you just need to apply those techniques to the currencies you selected. These free tutorials aren’t very technical and the best ones will allow you to be able to do this with a minimal amount of reading.
After you have mastered the basics, you should be able to decide when you’re going to trade better. There’s no reason why you shouldn’t be able to make money regardless of what time of the day you decide to trade.
The great thing about eToro is that you can have an account for free. You don’t have to pay to be able to trade or open a trade account. eToro makes trading much easier than any other platform out there and I recommend getting started today!
As I mentioned earlier, a big indicator of success is using a combination of indicators. You want to find one or two that work best. If you’re like me, you like to trade multiple times a day. With eToro, you can make trades for both the morning and afternoon. This is a huge advantage and can help you trade better because you are more aware of current market conditions.
It’s also nice being able to set up your own demo account. This gives you a small taste of how profitable forex can be. The demo account allows you to see what you look like when you trade. It allows you to make some mistakes which are the same as making real trades.
There are many reasons to trade better with eToro. If you have done your research, you’ll realize that they are a fantastic free company. They are also very transparent about their practices. You will know everything that you need to know to trade better with eToro to trade better.
Read More:
- What Are PAMM Accounts in Forex Trading & How Do They Work?
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- A Newcomer’s Guide to Online Trading
Author: John Brooks
