How are you going to trade the Brexit?

Whatever happens, the Brexit event or non event is going to have huge trading implications.  There is going to be lots of movement in various markets.  So now is the perfect time to think about how you're gonna trade the event.  Now I'm not a trading a expert and there is no way I'm going to be able to give you any trading advice.  But the good guys at eToro got together with renowned economist Raoul Ruparel and hosted this webinar.  If you're interested in forex or stocks, then please, please watch this, it will offer some great advice:

Get $25 Free to Trade on Forex

Plus500Ever wanted to try your hand at trading forex?  Been sitting on the sidelines?  Well here's an opportunity I've found for you to get started in Forex trading.

Plus500 now offers a $25 bonus for new members to try out their platform.  And the best thing is, it's a no deposit bonus.  This means you don't need to deposit anything to begin.  As far as I'm aware, plus500 is the only reputable forex platform that offers this.

You will need to confirm your account, but this is usually automatic.  All I had to do to receive the $25 bonus was confirm my account via an SMS.  Easy!

About Plus500

I've been trading on Plus500 for the past few months.  You can trade forex as well as CFD's (such as commodities and stocks).   The company is fully regulated and traded on the London stock exchange.    Trades are commission free, you simply pay the spread.

Best of all, you don't need to download any software.  You can use the perfectly competent web trader – which I find to be very easy to use.   They also offer an iphone app for trading on the go.

How to Get your No Deposit Bonus

  1. Register an account here
  2. Confirm your account
  3. Your bonus will be automatically applied.

How I’m making money with Plus500

Plus500Plus500 is one of the worlds most popular online brokers.  Through Plus500 you can trade stock cfds, forex, commodities and cryptocurrencies.

But can you actually make a profit?  Here's my guide to making money on Plus500.  Read on to find out more…

Update for 2020: I no longer recommend Plus500.  If you're looking for a less risky alternative you should try this platform.  I've had much more success with it over the past couple of years.

How to Make Money with Plus500

Plus500 allows you to trade currencies (forex), commodities (like Gold and Oil) and other CFD's like stocks such as Apple or Google.

So before you start thinking about making money on plus500 you need to first have a strong understanding of financial markets.  Wild guesses will just result in you losing money.

You'll make money on Plus500 by opening either Buy or Sell positions.  A buy (long) position, if you think the asset will rise in value or a sell (short) position, if you think it will lose value.  To figure out how to make these trades, will require experience.  Luckily plus500 offers a free demo account.  So you can practice trading with pretend money.  This way you can get to grips with the interface and gain valuable trading experience.

My plus500 trading account

Who is Plus500 For

I think Plus500 is for intermediate to experienced traders.  If you've tried other FX platforms and are looking for a better interface then Plus500 is for you.  If you're looking for a platform that has what I believe is one of the largest ranges of financial products to invest in, then Plus500 is definitely for you.

I no longer use eToro and would recommend eToro instead.

A Very Generous Welcome Bonus

Plus500 gives you a welcome bonus of $30 to start trading!  No catch.  Just sign up, make sure you're account is verified and you can start trading with it.    There is no deposit required.

Webtrader.  No Download Required

Plus500 has a very easy to use web trading interface.  You don't need to download any software. It just works.  There are downloadable versions of the trading app.  Including for mobile.  But I've always found the web trading interface to work best.

A Forex Platform that Accepts PayPal!

I use PayPal a lot.  And always like to use it for my trading accounts.  Mainly because it's instant and there is no waiting like a bank account.  Plus500 accepts PayPal as well as all the other usual funding options.  As PayPal is quite strict with financial companies, seeing a forex platform accept paypal is always a good indication.

Tried Binary Options?  Use Plus500 Instead

I'm not a huge fan of binary options.  I think there is too much risk involved.  With Plus500 you can still make bets on the market going up or down just like with Binary Options, but your positions won't suddenly close.  You can keep your positions open to counter any fluctuations in the market.

But if you do really want to trade options, don't worry – you can on Plus500.  Yes thats right, as well as all the other countless financial products they offer, you will find options available as well.

You can find out more about Plus500 Here

Hundreds of New Stocks Added to eToro

trading stocks etoroI'm really starting to enjoy trading stocks on eToro.   And now there are hundreds of new stocks available on eToro for you to trade!

eToro has slowly and steadily been improving their stock trading platform over the past 12 months.  You can now try webtrader 2.0 – which makes it easier to find stocks and trade stocks.  They also added leveraged trades.  This means you can open both and buy and sell (long and short) positions and these can leveraged to increase profits (which will also increase risk).

I've been adding more and more stocks to my eToro portfolio and it is really starting to pay.

With the New Year upon us, now is the perfect time to start trading on eToro.

How to Invest $200 in eToro

Time to answer one of your questions.  If you have a question – leave it in the comments.

Q. How would you invest $200 in eToro

eToro Social TradingA. $200 isn't a lot to begin investing, but it is certainly enough to begin investing with etoro.  eToro requires a minimum of $200 per copytrade.  Obviously you would want to find a trader who had a low risk trading strategy and is delivering a return of around 10-20%.

Another option would be to purchase stocks.  If you had a particular stock or two in mind, you could easily use the $200.  In fact you could spread the $200 across 4 different stocks, which would spread the risk.

 

eToro Launches New Trading Platform

Big news!  eToro has launched the next version of their trading platform.

eToro Webtrader 2.0

One of eToro's biggest advantages in the forex space has always been their trading platform.  Almost every other forex trader uses the same old platform.  But eToro has always developed their own.  You didn't need to download any software, it worked in the browser.   And now there is a new version which is a major overhaul.  Here's a sneak peak and what's inside:

No More Flash

One downside of webtrader was that it used Flash.  Well not anymore!  The entire thing is built using HTML5, meaning you doesn't need flash to work.

All of eToro in One Place

One thing that annoyed me about the old webtrader was that you needed to visit the etoro website to copytrade, and then you needed to visit webtrader to open manual trades.  Well now everything has been unified into the one platform.  You can copy trade, buy stocks, trade currencies and more – all in the one place.  This is brilliant!

etoro webtrader new version

A Simple, Clean Design

The new eToro platform is by far and away the best designed forex platform.  The competition isn't even close.  The old webtrader was much easier to use than any other platform, and this one is even easier.

Have you tried out the new platform? Let me know your experiences in the comments.

Social Trading Stocks – My Experience

Social trading has been around for a while – it's where traders share all the trades they make, so you can copy them.  But the trading has been limited to forex.  But that has all recently changed.  eToro – the worlds largest and most popular social trading network now lets you copy traders who trade in stocks.  Social trading stocks has arrived!

Social trading stocks - my aapl trade

First Off, How Does Social Trading Work?

What if you took a social network, and turned it into a trading platform?  What would you get?  A social trading platform.   There are lots of different social trading networks, but as I'm most familiar with etoro, I'll explain how it works.

1) When you open a trade on etoro, that trade is posted to your profile, and everyone can see it.
2) When you close a trade, that is also shared, so people can see if it is profitable or not.
3) You can “copy/follow” other traders on etoro.  When you “copy” a trader, you invest, say $100 in a trader, and then whenever they open a trade, your account will open that trade too.  Your investment amount will be scaled depending on how much you've chosen to invest in a trader.

Social Trading is for Beginners

You don't need to be a forex guru or stock picking expert to social trade.  This is because you can follow others and automatically make the same trades.  You just need to pick the right people.   And yes, there is some skill to picking the right traders.  Read my guide here for more help on finding the best traders to copy.

Introducing Social Trading for Stocks

eToro is the first platform I've come across (legit platform) that offers stocks.  In the past you've been able to invest in currency (forex) and commodities.  Stocks are a obviously a bit harder to do.  eToro took their time, and they have put together a really impressive offering.  And it works really well!

Forex tends to be a little wild.  It's hard for forex traders to create consistent results.  Simply because the markets can move with massive swings.  I've found that stock trades tend to be a lot less violent.  So I've begun copy trading investors who invest in stocks as well as forex.  And I've had great results.

Netflix Trade

Can you Short stocks on eToro?

Yes.  Again this is more of an advanced trading technique.  If your new to trading, I would recommend just copying the trades of the actual traders on etoro.  Many of these traders will open “short” positions which will of course will be copied automatically by you.

What Type of Stocks are Available?

eToro offers a selection of stocks.  Meaning, you won't find every company listed in the major exchanges.  But the goods news is they have all the big players.   You'll also find stocks from all over the world.  Which lets traders reach out and invest in different markets.  In my view, the bigger the diversity, the better.

How much Does it cost to start Social Trading?

eToro has a $200 minimum first time deposit.  After this, you can deposit any amount (over $10).   I would recommend starting with between $200-$500.  This will allow you to copy multiple traders.  The more you can spread the risk the better.  Make sure you're comfortable with how the platform works before you try investing more.    And remember, just like all investments, social trading carries risk.  And it can be more risky, then many other types of investments.  Start with a comfortable amount and take your time!  It's not a get rich quick scheme.

You can open an etoro account here

The Easiest Way to Start Your Own Investment Portfolio

So what's the  easiest way to start your own investment portfolio?  Fancy yourself as a bit of a day trader?  Think you've got what it takes to lead other investors?  Well then you should definitely think about joining etoro.

eToro is a social trading platform where investors can follow other traders.  Whenever a trader makes a trade, that trade will be duplicated by the followers.    As a copytrader, I can invest a minimum of $200 in following your trades.  Whenever you make a trade, a duplicate of that trade will be opened in my account based on a ratio.  So even if you make a trade with $10k I will still open that trade, but with a smaller amount.  It's really cool!!

The Popular Traders on Etoro

eToro has this thing called “popular traders“.  Basically they will pay you if you people start following you and copying your trades.  You basically earn a monthly income for simply sharing your trades.

Why Become a Popular Investor on eToro?

Cash.  Simple as that.  Popular traders get generously rewarded on etoro.  I think the rewards are far better then any other trading platform I've seen.  Plus etoro has a massive community so it's easier to get followers.

Screen Shot 2015-05-13 at 10.54.30 am

Whats a Copytrader?

A copy trader is someone who follows you on etoro, and has invested in you.  They will automatically copy every trade you make.  The more copiers you have on etoro, the more cash you make on top of all your usual trading income.

Social Trading is the Future

I'm a big believer in social trading.  I think it's the future.  eToro is the worlds largest social trading platform with millions of users, and it's only going to continue growing.  It's worthwhile getting in now – people are only going to start copying you if you have a history of successful trades.

How to Become a Popular Investor on eToro.

Build a Portfolio – eToro tracks all the trades you make on their platform and generates a sexy stats page.  This stats page is what potential copiers will look at to see if they want to follow you.  Most people will only copy a trader who has at least 6 months history on the platform.  Otherwise you won't even show up high in the search filters.

Invest in Currency and Stocks – Spread the risk around.  Now sure, if you're an expert currency trader, then obviously you should stick to your guns.  But I've found that most of the traders I copy invest in a variety of different products.  On etoro you can invest in stocks, forex, commodities and indexes.  So no matter what your style, you'll be covered.

Build a Complete Profile – Upload a profile picture, use your full name and right a bio.  The etoro search has filters which show traders with full profiles.  This is about trust.  So take the time to build out your profile.  Make sure you list your trading experience in your bio.

Interact with the Community – etoro is a trading community.  You can comment on every trade, you can also comment on different markets.  So if you have news to share – share it!  If you're a popular investor, people will also post questions on your profile.  Be active and respond to these.  Remember, some members on etoro won't have  a lot of experience – use comments to reassure these members and help educate them on how financial markets work.

Make Regular Trades – When i'm looking for a trader to copy, the first thing I usually do is make sure they make at least one trade per week.  I'm not looking to have my money tied into a single trade for the next 12 months!  I want a popular trader who is active and engaged.

Post to Twitter and Facebook – Want to expand beyond the etoro community?  Reach new investors, and potential copytraders by posting your trades to social networks.  eToro has a built in feature that allows you to quickly share trades.  This is a great way to expand your reach.

Become a Popular Trader on Etoro Here

eToro Making Big Changes to CopyTrader

eToro, my forex trading platform of choice, has announced some interesting changes to CopyTrader.  CopyTrader allows you to automatically copy the trades of professional forex traders.  It's a great system – one that has banked me over $850 profit last month.

New Stop Loss and Pause Features

One of the biggest features that has recently appeared in CopyTrader is the pause function.  This is HUGE.  If you don't like the trading style of a trader, you can pause the system from copying any new trades.  This way, your existing copied trades can close out and you won't be locked into copying this trader.  Previously you had to just stop copying, which closed all open positions.

There is also a new stop loss feature.  If a trader loses more than 40% of the copied amount you'll automatically stop copying this trader.  This can be manually adjusted.  Nice feature that promotes responsible trading.

New Minimum Copy Amount

Probably the news that will have the biggest impact is the minimum copy amount.  You now need to copy with at least $100.  I think this is great.  I've always recommended copying with $100 because $50 (the previous minimum) was just too small an amount and didn't offer any flexibility.  This new minimum will ensure that you'll be able to copy all the trades of the traders you copy.

eToro's copytrader keeps on getting better and better.  In my opinion their product is miles ahead of other social trading platforms.  It's easier to use and they really promote sensible trading, which in the long run equals bigger profits!

 

Why Do People Lose Money on eToro

Money losing on etoroI've been trading for a while on eToro, and one of things that I see time and time again are new traders or copytraders, losing money. And sometimes I even see them wipe out their entire accounts. Here are some of the reasons why these people are losing out. If you follow these tips, you should be able to reduce some of the risk and be a smart trader.

They Only Follow/Copytrade 1 Trader

The most basic rule of investing is diversification. If you don't follow this one rule, you may as well forget about copytrading. Just close your account! You need to follow at least 3 people. I usually recommend to people they should copy 5. This will spread the risk. All traders have bad months.

They Copytrade The Wrong People

Only copy traders who have been trading on etoro for at least 12 months. Have steady growth – not explosive – this is very important. The traders who have 300%+ growth are using high risk trading strategies which are akin to flipping a coin. Sure they might have gotten lucky and pulled off one or two trades with a massive return. But they also risk massive losses. Only copy trade traders who have around 20% growth over the past 12 months.

You also want to ensure they are constantly heading in the right direction. Take a look at their graphs, if there are big dips, don't copy. They should have a steady growth curve.

They Only Invest in Forex

The great thing about etoro is you can invest in a wide range of markets. Instead of just focusing on currency, try investing in stocks (such as Apple or Google) and commodities such as silver and gold. Stocks can provide the foundations of your investment, and can grow steadily over time.

They Panic and Aren't Patient

As I mentioned before, all traders will have bad weeks and even bad months. Don't panic. Sure, if a trader isn't performing for 2 months in a row, you should definitely stop copying and move on, but don't jump ship after 1 or 2 days! I see this all the time, and it's the worst thing you could possibly do. Be patient. Some trades can take days to close out and turn a profit.

If you follow these simple tips, then you will reduce the risk on eToro. This is my strategy and its been working really well for me.