English: This text will be revised soon.
Learn Money Management.
1. Use only 1% of your bankroll per trade. Or more aggresively: at the most 5% .
Attention to cumulate risk trading correlated trades (i.e. buying EURUSD and simultaniously selling USDCHF means to accumulate the risk if $ becomes strong).
2.Do not put more than 50% of bankroll simultaneously into all open trades.
I longtime thought about, what to give as first tip:
If you trade forex and CFD's you must take it seriously as investement or business. If you take it as a loose like a game, like in casino, you'll shurly loose your money. If it's wath you want, have some casino like pleasure, it's ok. If not, don't trade, unless you take it serious, willing to learn, all wath is needed.
On etoro you must learn to skills:
1. How to make your own trades. -> learn as much as you can. See links for free videos and webinars ond "forex scool". If once you breath forex and daydream it, you may begin to have more winning trades than loosing. It must jump into your eyes, where strong buyers are and where strong sellers. Alongside this levels you can make good trades.
2. Who to copy. You must learn to copy only traders with save MM (money management). More about in my "etoro basics".
If you copy some traders on Etoro.com controll that they do not make very similar trades to avoid cumulating risk.
Learn here how to copy on the save side Traders on Etoro.
Forex:
Don't trade Gold and indices. You'll loose your money for 99% shure. It is too big and volatile, Even if you're right with the trend, the volatility will reach the stop loss. Gold is only for big bankrolls and sometimes very unpredictable - too big emotion in it.
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Trade using a proven strategy - using signals. Draw resistance and support lines on the daily, weekly and monthly chart!
To trade based on the 1h time chartd, use higher timeframes like 4h, 1D, 1w and 1M to have an imagination of the shortterm and longterm potential of a currency or whatever you trade.
Enter a trade only after having made an own analysis which gives you the conclusion to make this trade.
This is very important: Hold a trade only as long, as you can believe in it, meaning, as long as the argument to enter the trade is still there. You made your analysis, right? So believe in it, until facts shows otherwise, i.e. breaking out of a support, resistance or trend line. After this, you must reconcider the trade, if there ar further argument for it. If not. Close immediatly the trade with a immediate stopp loss. Then you are free to look for another trade with a new entry point signal.
Trade using longtime view, studying first longtimcharts, daily and weely. Draw restistance lines and try to make minimum 100 to 300 pips per trade. This can go several days or weeks a trade.
Set allways stop losses.
Accept loosing trades, it's just 1% risk of bankroll per trade. You can loose 100x to get bankrupt.
Even an monkey will not go fast bankrupt if he could only trade 1% of bankroll per trade.
He would rather go to zero because of the spread over time.
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Don't trade Binary Options until you KNOW a trustfull strategy from a person or organisation you can trust. Binary Options are completly different to normal Forex Trading. The Time factor plays the biggest role.
Your bankroll - how much should it be in minimum?
4000$ Bankroll is a good amount to start any kind of trade offered on etoro. A 1% trade would be 40 $, a 5% trade 200$, big enough to trade indices too with 100x leverage.
With 10'000$ bankroll, you are on the save side and can make all trades with maximum 50x leverage.
But of course you can begin with as few as 100$. In this case do not trade indices, gold, oil and silver! The bankroll is to small for this. You can trade them in peace having minimum 2000- 4000 bankroll.
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Which broker?
Recommendation:1.) For beginners specially I recommend to open an account with etoro.com
You can open a account and then just copy some of the best longterm traders there. For beginners I recommend not to trade yourself, just follow the good ones and try to understand there trades.
But attention: If you begin blindly to follow traders greedy because their short term chart shows hugh profits, YOU WILL LOOSE YOUR MONEY!
How to copy on etoro I tell here.
Don't give more than 20% of your bankroll to follow one Trader. If you have more than 200$ then etoro does not allow you to invest more than 20%. That's very important.
Recommended Traders in etoro: Not yet found one to be recommended 100%,
niseko at least is a reasonable low risk trader with some profit over the year.
I'm not responsible for any trades or changes of strategies.
It's up to you to have controll over your money. This are just my personal recommendations. I'm following them.
I get a little provision for this recommendation, if you open an account with the above link.
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2.) Second to trade yourself I recommend oanda.com with the smallest spreads. Very good and fair broker.
I have nothing (no provisions) of this recommendation.
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Muss ich das wirklich übersetzen? Du hast ein Leben lang Zeit, wenigstens rudimentär englisch zu lernen. Mein English ist auch nicht perfekt, war nie Pflichtfach in der Schule, da ich Altgriechisch lernte.
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