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eToro Tips and Tricks
These below are eToro tips and tricks, If you follow all of these eToro tips and tricks then be sure you will limit your loss and generate more profit.
- Online trading markets contain high risk so for the first step open a demo account.
- Spend some time and effort in selecting the traders (“Professional Investors”) you’re going to copy and don’t just select the most popular ones.
- Test the traders first in your eToro demo account.
- Understand the ‘risk level’ of each “Professional Investor” before you invest in them and apply this to your overall account risk management.
- Try to avoid adjusting or closing trades from “Professional Investors” yourself in your account. Yes, you’re in total control and at any time you can close their open trades in your account. However if you copy a trader you should have confidence in their overall strategy. However, if you’ve clearly lost confidence in the trader, do stop copying them.
- Be patient. If you’ve done your homework on the traders you copy, you shouldn’t judge their performance on 1 or 2 weeks.
- Be realistic in your expectations. If you expect to double your account in 1 month, do understand that this will mean you need to copy very high risk traders and hence you may lose your initial allocation.
- Read through the eToro trading manuals as they’re very useful for anyone new to Forex trading.
- Don’t invest more than you can afford to lose. There are no guarantees and when you invest with eToro.
For more eToro tips and tricks you can also read this article.
eToro Trading Tips and Tricks
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