FOREX TRADING ETORO
Forex Trend Following??
Im new to forex but lately have been having alot of success on etoro. Im usually using 50:1 or 100:1 leverage with a stop loss set. I look for trends and lately its been going down so i went short $100 at 1.35is and its at 1.33ish now The EUR/USD. before that also i was in a short trend. What are the chances that i can make big money over the long term in forex? Ive traded stocks using breakouts and band trading with good results and forex is no different.
I agree. I’m a technical swing trader, using fractal point breakouts and retracement reactions to successfully trade in the futures markets.
Forex trading can be very profitable, with 2 conditions:
1) You understand and implement sound risk management and money management techniques, including strictly limiting losses on all trades and having a disciplined non-emotional trading plan. The leverage used in forex trading can make this activity tremendously profitable, or can cause tremendous losses.
2) You deal only with a legitimate, regulated, broker/dealer or ECN, so that there is no risk of fraud or other shenanigans.
In my opinion, a much better solution is to trade currency futures through a regulated futures broker. Trading is done on the Chicago Mercantile Exchange, and the brokers are regulated by the US government. Trading is very active in AUD, GBP, CAD, EUR, CHF(SWF) and JYP, and there are full sized, mini and micro sized contracts available. You can also trade some minors (NZD, MXP, etc.) and some crosses.
Forex Trading Etoro
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Welcome to the World of Webtrading on eToro An introduction into the challenging but potentially highly rewading world of webtrading – buying and selling currencies, commodities (oil, gold and silver) and even stock indices such as the Footsie 100 and Nasdaq. This introduction will help you to avoid many of the pitfalls that new traders can fall into, as well as showing you some of the detailed tools available to help maximise your returns … |