eToro – Forex Trading Forum

[Tropezienne]

If you are new to eToro take some time to explore these forums and especially go into the Help feature that you can locate at the bottom of the eToro lobby when you access you account.

With the launch of yet a newer and improved trading platform I imagine that there will even more new members signing up here and I want the experience to be a positive one.

If you are a novice to forex trading be assured that eToro offers a fully integrated educational experience, so that you can gain knowledge of the forex market and develop your learning towards a professional standard.

On the eToro site and via the trading platform you have access to trading guides, forums and video tutorials to facilitate your progress. There is also an unlimited practice mode where both beginner and seasoned traders can sharpen their skills and test their strategies with real market rates.

Happy Trading

Julie

http://who-gives-a-forex.blogspot.com/

[Tropezienne]

With the forex market being open from Sunday evening through to Friday evening, and with the markets around the world opening and closing according to their time zone, it can be difficult to know when to trade the different currencies.

A starting point is to know the major markets and their hours. Also, if you are a novice, beware the periods of greatest activity/volatility - often at opening and closing times.

Trading sessions according to GMT (Greenwich Mean Time):

Europe

London : open 8:00 am, close 5:00 pm
Frankfurt : open 7:00 am, close 4:00 pm

America

New York : open 1:00 pm, close 10:00 pm
Chicago : open 2:00 pm, close 11:00 pm

Asia

Tokyo : open 12.00am, close 9:00 am
Hong Kong : open 1:00 am, close 10:00 am

Pacific

Sydney : open 10:00 pm, close 7:00 am
Wellington : open 10:00 pm, close 6:00 am

Trading sessions according to EST ( US Eastern Standard Time):

Europe

London : open 3:00 am, close 12:00 noon
Frankfurt : open 2:00 am, close 11:00 am

America

New York : open 8:00 am, close 5:00 pm
Chicago : open 9:00 am, close 6:00 pm

Asia

Tokyo : open 7:00 pm, close 4:00 am
Hong Kong : open 8:00 pm, close 5:00 am

Pacific

Sydney : open 5:00 pm, close 2:00 am
Wellington : open 5:00 pm, close 1:00 am

Julie

http://who-gives-a-forex.blogspot.com/

[Tropezienne]

BACK TO BASICS

I'm not an expert - what you'll read below is really basic stuff - but this is how you need to start if you are new to forex. This is not a 'get rich quick' activity. Start simply, build slowly and eventually trade successfully.

You can read more novice-orientated material on my blog : http://who-gives-a-forx.blogspot.com/

What is Forex?
The Foreign Exchange market, also referred to as the "Forex" is the largest financial market in the world, with a volume of about $2 trillion a day. It also trade 24 hours/day.

Why trade Forex?
Forex trading is attractive because it offers unparalleled freedoms. You can live almost anywhere as long as you have access to the internet. Forex trading allows you to work from home or even trade while traveling! You decide when to trade and when not to. Best of all, it has a minimal time requirement.

What is actually being traded?
Forex trading is the simultaneous buying of one currency and the selling of another. Currencies are traded through a broker or dealer, and are traded in pairs - eg: EUR/USD. Currency is held in an online account through an electronic broker.

What's a Pip?
A pip is the smallest price increment in Forex trading - pip stands for percentage in point. Prices are quoted to the fourth decimal point in the Forex market, except the Japanese Yen (JPY) which is quoted only to the second decimal point.

eg : If the EUR/USD bid price rises from 1.4500 to 1.4501 this represents an increase of 1 pip.

What's a pip worth?
It depends on which currency pair you are trading, but for most pairs 1 pip equates to around $1 in a mini account, and $10 in a standard account.

What are "margin" and "leverage"?
Margin allows you to control a much larger total contract value with just a small deposit. Leverage gives the trader the ability to make nice profits, and at the same time keep risk capital to a minimum. For example, Forex brokers offer 400 to 1 leverage, which means that a $100 dollar margin deposit would enable a trader to buy or sell $40,000 worth of currencies.

What's a Stop-Loss?
A stop-loss order is an order type whereby an open position is automatically liquidated at a specific prices you set. This is used to minimize exposure to losses if the market moves against your position.

Any questions ? This is the place to ask them. If I don't know the answer I'll find it for you.

Julie

[alfa28]

Firstly, I would like to congratulate for making the daring decision to go for etoro. I know that you have heard of people losing money through forex; but I think you do heard about people making money from forex. So, give yourself a try. Losing is common but through the days as it goes, you will know the way and then you start to make more and more money. I am one of them. The best part is when I see my account balance keeps on growing and I can get the money at the time I need it most. Moreover, the etoro team are very supportive. They personally called me at one time to correct me with my trading style which caused me making losses more than winning from time to time. After that, I began to improve and I can say I thank etoro. Beside that, etoro is very surpise givers. Once in a while, they offer some cash for your account. There is no forex that do that. So, just do it and be one of the walking tall forex player.

[mastermindnirav]

Hi All this is Nirav Patel from India

My etoro username is : mastermindnirav

Has anyone tried out the ETORO brokers/ platform recently? Good Heavens!, they have something else over there.

Right from the registration part to this time i post this thread there has been no cause for regrets so far. The experience i got from thier round the clock customer relationship officers is a delight to experience. They were on the phone guiding and directing me through the difficulties i encountered while trying to deposit to my trading account.

Even as a trader they guide you and email you as you go. Your success is thier watch-word and they have an excellent helpdesk team who stop at nothing to give you answers at anytime even while you trade they are there with you online guiding you through the features of thier trader friendly platform.

Talking about thier platform, its like having fun while you are into real serious trading. Honestly there is class to it and no other platform comes close to it in its variability to sooth the needs and types of trade pattern that one may wish to use. The five arenas(GLOBE TRADER, FOREX TRENDS, FOREX MARATHON, FOREX CHARTS and TRADE BOX) they have are a delight to use just as i enjoy using thier forex charts because it is very interactive and easy to use.
The spread they offer are one of the best so far and its favorable to both old and new traders alike.

Withdrawal requirements are not cumbersome as other brokers make thiers most of the time. There is peace making use of thier platform and system, its a whole experience i urge whoever to try out. All you just need do is go here http://www.etoro.com and you feel and experience a whole new world of trading you can never reject.
Dont forget to come back with my compliments for letting you into this great secret anyway.

BEST OF TRADES!