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How I Started My First Forex Trade with Etoro

 graphics-money-symbols-preview-by-dragonart

Etoro has really made the forex trading simple and user-friendly.Even the beginners can master the secrets of forex money making within days.I was really inspired into forex trading after seeing one of my friend making thousands of dollar per week with etoro.After signing up for a real etoro account,I practiced 2days with the demo account just to get an idea of the forex market.

My first profit from etoro came after one of my yahoo chat friend gave me a quick tip about the EURO/USD market and I made 2 fast transactions with just $50.Within 30 minutes I managed to get a profit of $180.And it was the first time in my life that i made that much amount within just 30 minutes.After that I decided to do some research on the current forex market and learned few tricks to obtain free forex signals.[don’t worry,I will be sharing it with you)

Step by step procedure on how I did my first forex trade.

For trading forex,you require to install an application from etoro.You can download it from here.After Installing the application,double click the etoro icon on your desktop.

etoro startup screen

Now click on Trade for real button on the screen and then register a new account through the “open new account” link.After registering your new account,you will be taken to your trading platform.To start your trade you need to deposit some money,for that click on “click to deposit” icon.

etoro-deposit

 

For depositing money,use can use PayPal,Credit card,moneybookers,Western Money or wire transfer.I prefer doing deposit with PayPal or Credit Card,since for withdrawing money, you have to use the same method which you used to deposit money.Credit card is the most easiest option since eToro can send funds directly to your credit card and you can withdraw money from the nearby ATM.You can start trading with as low as $25,but i recommend you to start with $50(more money,more profit).

Now they have an interesting offer by which you can get a signup bonus of $25 extra for a $100 deposit.That’s a total of $125 for you to trade.

How to Start Your First Forex Trading

etoro trading

You can choose any of the following trading arena Global Trader,Forex trend,Forex Marathon,Trade box.I tend to spend a lot of time in Trade box arena. In tradebox arena you can select the currency pair you wish to trade.For eg If you want to sell Eur/Usd,then click EUR/USD and select SELL.

Then you could decide the risk/reward level. I always leave it at x200 default level.

And there is an option to impose trade limits(optional),that is if “Take profit” is set to $25 then the trade automatically stops when you reach a profit of $25.I have not set any limits ever and don’t think i will ever need it. 🙂

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How to select the currency pair to trade.

The best way to select the currency pair to trade is to look for the Top Traders Insight provided by etoro for free.From here you can check what the top forex traders are buying and selling and it would be wise to select your trading currencies according to that.

etoro top traders insight

From the Top Traders Insight window you will be able to identify the best currency to buy or sell.In the above insight,you can see that top forex traders are buying AUD/USD and thus it is the best time to buy AUD/USD and also you could see that it would be wise to sell GBP/JPY and USD/JPY.

If you want to obtain free forex signals and a complete Forex tutorial worth $127 along with other forex tricks,then signup for etoro and shoot me an email at renju[at]renjusblog.com or Message me in facebook with your etoro username(real account) and email address.I will be sharing this $150 worth products with all of you for free.

Happy Trading.

{ 16 comments… add one }
  • mail April 26, 2009, 7:55 pm

    Mailed you my etoro username…waiting for my free guide…thanks dude

  • Habian April 27, 2009, 7:39 am

    Thank you very much for the free signals and forex guide……

  • James K May 11, 2009, 3:13 pm

    my profit is $60 for two days…..I just used the top traders graph and bought EUR/USD…it’s great.
    thanks

  • quickincome May 15, 2009, 1:54 pm

    I’ve filled the contact form and waiting for invite link and the trick for free forex signals…

  • Xbox 360 Game Box May 19, 2009, 5:07 pm

    hi! very interesting post. however, I wonder if I can have a demo account when I register?

  • renjith May 19, 2009, 6:53 pm

    @quick income
    Send you the invite link along with the forex guide and free forex signal source..hope you enjoy it.

    @xbox 360
    Ofcourse,you can have a demo account.To get a demo account,first download the software and click practice trading.

  • Anonymous June 8, 2009, 1:49 pm

    I like eToro. I trade on eToro platform for a long time already and earn little money, like $200-$500 per month.

  • Mehak July 1, 2009, 7:11 pm

    thanks for the free signals…..now making near $20 profit per day…

  • Frank July 10, 2009, 4:03 am

    i didn't get my free forex signals…..i had contacted you..

    Frank

  • Alex Holzmann July 23, 2009, 7:46 pm

    Nice post mate. Can you mail me free forex signals? Thank you!

  • Anonymous July 28, 2009, 6:14 am

    hello

  • lorie October 20, 2009, 4:45 am

    I love forex trading more than ever, its a lazy way to earn money nowadays. Thanks to etoro!

  • pinakel October 22, 2009, 2:03 pm

    just open etoro account but i cant know how to use it? can you help ? my id pinakel@gmail.com

  • Lohith November 16, 2009, 6:07 pm

    thank you dude for your help…my last etoro trade profit went over $120…
    thanks for support!!!

  • araaf August 16, 2010, 12:03 pm

    please i also want to profit from forex trading…
    my email : s1quash@gmail.com

  • Niks March 3, 2012, 6:30 pm

    hi I have learned a little about etoro as you said I want go for real trading but I have faced some problems depositing into etoro I tried contacting etoro too but no proper information sir please help me giving me information on deposit in a clear detail through credit card had problems through PayPal because I stay in India some rbi problem plz help with few tips this help will be lot me I'm a small timer have lot of responsibilities to help my parents plz do the needful.

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