Forex tip for beginners

Forex market might look quite lucrative, but trading in forex needs a lot of precautions. May be even more than Stock market. This is mainly because of the power of leverage. In most forex platforms you can leverage your money upto 200 times. While this means more money for you if your tarde does well, this also means that you are risking more with each trade. Here are few tips for beginners with e-toro.

1)      Do not, DO NOT trade with real money unless you have mastered the forex trading with demo account. I believe that e-toro is the simplest to understand trading platform for fx trading. You can download the free demo account of etoro by clicking the link below.

Click here for a free forex practice account

2)      A good forex strategy is to never invest more than 2% of your total trade in any one transaction.

3)      Enter the trade at the right time. If the trends are unclear to you( charts are up & down), wait till you get a clear trend to start the trade.

4)      Diversify your currency trading portfolio: Trade in different types of currencies & commodities.

5)      Follow the trend. E-toro platform shows you what the trend of trades for the day & for the last hour. It makes sense to follow what the forex leaders are doing. If most of the forex brokers are buying Us dollar against the Euro, you will benefit by doing the same. That’s the reason why I love e-toro. It makes fx trading the simplest that it can be.

Trade forex with eToro and get up to $1,000 forex bonus! Open a forex account today with a minimum deposit of just $50