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Etoro Forex Trading Need Suggestion

Discussion in 'Making Money' started by akashasnani, Nov 30, 2011.

  1. akashasnani

    akashasnani Regular Member

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    i heard many time of forex trading and earning alot..
    ETORO is coming many times in front of me..
    is there anyone who invested money in etoro?
    Should i invest in it or not?
    Need Suggestion.
     
  2. PitchBlack*

    PitchBlack* Junior Member

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    Etoro is a brokerage, so im not sure what you mean by "investing in it". But as far trading forex, do not do it unless you know what the hell you are doing and have capital set aside that you can afford to lose.
     
  3. videz

    videz Jr. VIP Jr. VIP Premium Member

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    i don't believe using any particular system in forex trading would guarantee you earnings, you better off investing in stocks
     
  4. RobBanks

    RobBanks Junior Member

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    I would suggest you not invest in forex without doing months of research and having a 20 thousand dollar budget. I would also suggest not using etoro as they are aimed at taking money from the forex inexperienced like yourself. just a heads up
     
  5. joker790

    joker790 Jr. VIP Jr. VIP Premium Member

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    I'm a media buyer at eToro, feel free to contact me via PM =)
     
  6. cheezycheez

    cheezycheez Junior Member

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    i have however invested in oanda. etoro i guess requires more money in a mini account compare to oanda where you can trade with just $100
     
  7. wokaka

    wokaka Senior Member

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    eToro is pure bullshit. They are good in attracting newbie traders because they have so many "expert" traders that you can copy in Open Book system. Im quite sure you are attracted to them because of their open book system, correct?

    But I can tell you it's not a good place to invest. Why?
    First of all you are only allowed to copy trader using 20% of your equity. Then the stats in the open book system is actually misleading. They tell you some traders make xx% of profit while it's not true. The percentage listed there is ONLY based on how much the traders are willing to put in each trade. let's say you have $10,000 equity and you only put $100 in each trade and you gained $40. eToro would list it as 40% gain instead of 0.4%

    The trading platform (webtrader) is also very confusing. You MUST always use stop loss from the start and they don't use lot size too (but they ask you how much are you willing to put in USD for each trade). You better learn with other brokers that use metatrader 4 from the start as you can later easily switch broker and won't need to learn again.

    and lastly i want to say forex is a high risk high profit game. Yes you can earn 40% profit today but lose 90% tomorrow. Actually it's better if you just invest your money in other traders through PAMM system and/or auto trading following signal providers like in zulutrade. Of course do your research because most traders in zulu and PAMM system are usually not consistent enough (only few are that consistent). If you want to learn trading yourself, make sure you have someone guiding you personally (find a real life trader friend).
     
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    Last edited: Apr 22, 2012
  8. petefader

    petefader Junior Member

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    Earning a lot in Forex? LOL Think otherwise mate, it's zero-sum game, the very top earn like crazy but there're too many suckers that feed them all day.
     
  9. NoirHat

    NoirHat Regular Member

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    if you want real trade leaders at a geniune forex site
    then goto currensee.com
    soo many others are just a bit too shady
     
  10. VinBed

    VinBed Regular Member

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    You should study the Forex market first. You need to know and fully understand what you are doing.
     
  11. infoasian

    infoasian Supreme Member

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    Forex is not an investment, it's for trading and hedging. Don't trade Forex until you know what it is. You will most likely use all of your money fairly quickly.

    As for good trading advice, I would suggest to search "Sive Morten" on Youtube. He puts out a daily trading plan for EURUSD that is pretty good.
     
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    Last edited: Apr 26, 2012
  12. sn0wblind

    sn0wblind Newbie

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    Avoid. I managed private capital for over 5 years and was a full-time trader in equities, futures, and currencies. 99% of the forex market is snake-oil, with brokers inventing their own spreads as the market is not regulated and transaction history not accountable.
    It's safer to find a Trader with experience like myself to invest in, or use the money towards other things.
     
  13. toco9000

    toco9000 Junior Member

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    etoro is a scam. it's like roulette.
    you should always take a broker with meta trader 4.
    pm me if you want some information and good broker.
     
  14. sn0wblind

    sn0wblind Newbie

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    Uhh...wrong. Metatrader 4 brokers are *all* bucketshops. MT4 is developed *specifically* for bucketshops.
     
  15. petefader

    petefader Junior Member

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    lol, when someone losing money, they always look for something to blame. Man, when I'm losing money, I blame myself first. Most pro traders I know trade MT4. Don't bring some crap and talk like you are genius here.
     
  16. infoasian

    infoasian Supreme Member

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    Most people lose because they take too much risk, agreed. Trading is an art.
     
  17. zahidrock

    zahidrock Newbie

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    I like to trade on meta trader plafrom. So i dont like etoro because they are bainary option.
     
  18. akashasnani

    akashasnani Regular Member

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    thanks to all for your valuable suggestion guys.
     
  19. pmg2712

    pmg2712 Junior Member

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    Trying is believing.. I have had my good days in forex too..
     
  20. donttazemebro

    donttazemebro Newbie

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    Use MBTrading, they provide great spreads and seem to consistently get good reviews