Once you open a practice account,
( FREE) fill this form and send it to me.
I will send you a small gift which will be very valuable for your future.
If you have not Downloaded the software yet, get it from here.
Let's start trading.
Double click the eToro button from your desktop and click "practice trading".
You have to learn the art of forex trading before starting it for real. For this purpose eToro will give you $2000 virtual money. Make use of it.
Learn the stratergy from next lesson. Let's have some fun.
If the platform you get is different from the images shown here , Click the " Visual Mode" button at the top right corner.
Once you are in the eToro platform ( forex software) , you will see the above area.
"Global trader", "Forex trend", "Forex Marathon" are simply different interactive ways of starting a forex trade.
And you will also see forex rates going up and down in the Live FX rates. These are real time forign currency fluctuations. By observing them for a while and by also looking at trend charts (Just click the chart button next to the currency pair.) you will be able to have a guess on what is going to happen.
In the coming lessons you will learn how to use indicators and use strategies to predict a currency pair behavior. But our only purpose now is to get familiar with the forex trading platform.
Global Trader.
Select the currency pair you want to trade from "buy" and "against" sections. In this case we will use "buy Euro against USD" scenario.
Leave the "Risk Reward level" at x200. And select the amount you want to trade and click "open trade". Then Select "ok" from the next dialog box.
That is it. Now you can see your profits going up and down with currency fluctuations. Just click the close button in the trade (Not the software close button) When ever you feel like closing a trade.
Remember, we are trading with virtual money since you have not deposited real money yet. You cannot withdraw profits until you start trading for real.
I will get you prepared for real trading in the next lesson.
Have a quick look at Forex Marathon & Forex trend.
Our prediction in this example is that Euro will rise against the dollar. You can select any pair you prefer. Let's see how we are going to open a trade in "Forex trend" according to our predictions.
Once again, it is a no brainier. Select "Euro to Rise" button. And then select the “against currency” as USD. Click any amount you prefer and open the trade.
Do "practice trading" as much as possible. It is fun. And it will teach you lot of things which you need for your future real trades. Learn forex trading with your demo account.
Do consider virtual money as your own money. This will give you the much needed discipline when you are trading with your real money.
Although you are trading for practice, your trades are based on real time stats. So the profits/ losses you made are not just hypothetical. If you are using real money, these will be your real profits and real losses.
I bet you will figure out how to trade in the Forex Marathon section. So I am not going to waste your time and we will move on to the most important section.