Mar 05
Techcrunch reviews eToro – a platform that makes forex trading child’s play
Tips and Help Add commentseToro is trying to solve the challenge of finding ways to present Forex data in a simplified and user-friendly manner that makes it accessible to ordinary users.
News link: here
March 5th, 2009 at 7:30 am
Please, please, please don’t invest in Forex without a sound background in investing. I really hate to see newcomers to investing lose so much in so little time.
March 5th, 2009 at 7:30 am
forex is NOT for ordinary userscurrency trading is highly leveraged trading and can be very complex, and should be left to the pros.its not just looking at a chart and picking the one thats going up the most.
March 5th, 2009 at 7:30 am
Forex trading should be left to the professionals. I have yet to see an individual who has been able to make any money at this.Brokers are pushing this heavily. Just google “forex” and check out the plethora of spam blogs and google keyword ads that show up.
March 5th, 2009 at 7:30 am
“I have yet to see an individual who has been able to make any money at this.”Lolz, you have not seen any talented individual yet………
March 5th, 2009 at 7:30 am
I remember the time my father called me up to tell me how excited he was about Forex trading. He didn’t listen when I told him…If you’re “trading” anything without any logical, factual reasoning and without even understanding the process by which the underlying trading system works, then you’re just gambling. If you’re doing it using a tool that obfuscates the entire process and turns it into a game, then you’re an idiot.
March 5th, 2009 at 7:30 am
Great, I just love how they emphasize the pure gambling aspect of Forex trading.
March 5th, 2009 at 7:30 am
Forex isn’t gambling, except for the idiots who think it’s a game, just like the users of the aforementioned program.
March 5th, 2009 at 7:30 am
That’s what poker players say about poker. However you’re still making a wager on an expected outcome while others are betting against you. Although I agree that it takes skills to analyze charts and those with better skills are going to make money in the long term, unless you can guarantee that you will win in every trade it is gambling. It’s just gambling with a positive (long term) expectation, the same as a good poker player wouldn’t expect to win every hand but would expect to win in the long term.
March 5th, 2009 at 7:30 am
Actually, Forex really isn’t THAT hard to make money on if you just follow trends. Unlike the NYSE and other major programs, trends are actually followed pretty tightly on Forex. Most people don’t go against the trend. The only real challenge is identifying where those trends are, when they appear, and the key thing, why they are appearing. I started with $1000 in a Forex account with 100:1 margin. In essence, I started being able to trade just one lot. About a month and a half later of careful watching and trading, I managed to make it to $2000. So it can be done by people who aren’t professionals. You just have to be careful.
March 5th, 2009 at 7:30 am
Here’s the simple problem: Forex trading is, like investing, NOT A GAME. I am an investor, a successful one at that, and as a simple point of advice, the most crucial thing you must know to invest, is this: gambling, both at a casino or with investments, is unsafe and will, statistically proven, lose you money. Forex trading, in this example with games such as “The US Dollar Race” is completely beside the whole point of investing: to, with sound data and sound hours of research, make profit in SOUND investments, not a simple game. If I want to have fun with a game, I’ll boot up HL2 or TF2, not my brokerage account. Forex trading is profitable, but you must first know the subject matter- and playing idiotic “currency games” won’t help. My advice: go to the library and read some books. It’s also free.
March 5th, 2009 at 7:30 am
Look, if you cant handle figuring it out, then maybe, maybe you shouldn’t be playing in a complex exchange system of multiple currencies?
March 5th, 2009 at 7:30 am
Whee!!! I can trade with cartoons! I’m gonna be rich!
March 5th, 2009 at 7:30 am
forex is for INVESTMENT banks, if you want to gamble throw darts at the paper’s stock listings and invest in those companies, it’s much more fun and honestly much less risky. The problem with forex is that to get decent returns you must apply buttloads of leverage, and just like any other form of speculation if you’re wrong you have to pay the difference, and with 100+ times leverage one wrong bet and you can be wiped out like a bug hitting a windshield at 200 mph. Not that forex is impossible, I’ve shorted the dollar for about 4 months now, but that’s been obvious. I’ve eliminated those positions lately because I’m not sure about the trend as of right now. The thing is to pull off forex you need to understand not only the currency markets, but also pretty much all the rest of the financial markets in order to make a probable bet on the direction of a currency, and mr john poker is NOT THAT PERSON.
March 5th, 2009 at 7:30 am
>”if you want to gamble throw darts at the paper’s stock listings and invest in those companies,”(A technique which statistically has been proven to beat most analysts recommendations. I’m not joking either. Read “A Random Walk down Wall Street”)
March 5th, 2009 at 7:30 am
If you’ll use that Forex software, then here’s some other financial software you might be interested in: ifate.com/fateball.html
March 5th, 2009 at 7:30 am
I do trade FOREX regularly. A couple things that seem to be missing here.1) The presentation of other FOREX platforms is that way for a reason. Currencies are very trend-based, even if the trends are short. Having that information and the ability to really drill down is important in making a successful determination on the direction of a currency.2) The reason they can get away with the point above is likely because, from what I can tell, they don’t offer leverage. Normally when trading FOREX, you’re doing so at at least 100:1 leverage. Meaning that to buy $100,000 of USDCAD, you will be paying $1,000. This is what allows you to see reasonable, and sometimes very nice returns from FOREX. It can also lead to great losses if you don’t put reasonable stop orders in place. Your gains are amplified by 100x and your losses are as well.What this does provide though is just a way to hedge against the US dollar and act more as a savings account (in a more stable currency) than an investment account.Not a bad idea for savings though. By removing leverage from the picture, they’ve probably taken away a lot of the complication of FOREX as well as the potential reward/risk.
March 5th, 2009 at 7:30 am
Wow, a lot of opinions on this one! Here’s mine – yes, forex trading is very risky but there is risk involved in stocks, real estate and every other type of investment. As usual, the higher the risk, the possibility of a higher return and a substantial loss goes up as well. You should never trade forex with money you can not afford to lose and yes most people lose, but great numbers of people throughout the world make substantial returns as well.Now, for the forex broker which the original article was about. I do have a problem in that they have reduced forex trading to at least look like a game. I second the opinion of michaelfitz above – FOREX IS NOT A GAME. My personal opinion is that most serious forex traders would not use a platform such as eToro, but on the other hand, they do have a good rating at Best Online Forex Brokers, whose ratings are typically from serious forex traders.I would suggest however, before you sign up with eToro, at the very least do some serious research into other online forex brokers. This site can help, with information on over 150 online forex brokers – BestOnlineForexBrokers.com
March 5th, 2009 at 7:30 am
Etoro looks good, but as with all Forex trading, the proper training is important before one starts to trade in the Forex market. It is way too easy to lose your shirt there. forextradingtraining101.com
March 5th, 2009 at 7:30 am
Try The automated Forex Money machine : youtube.com/watch?v=NQd9o9Bd2DE
March 5th, 2009 at 7:30 am
Can I put The Etoro review on my Forex blog: the-forex-tracer-review.blogspot.com
March 5th, 2009 at 7:30 am
There’s little doubt that eToro appeals to a generation accustomed to playing video games. Unfortunately, the demo trading contest results do not reflect the results one will realize trading real money and for several good reasons. Unlike live trading, demo accounts offer limitless liquidity and instantaneous fills. This doesn’t happen in the real world.Anyone considering an entry into the market needs to educate himself/herself not only about the market but the games dealers play. Phil Davis nondealingdesk.blogspot.com
March 5th, 2009 at 7:30 am
There are many forex programs which require training/experience to use. I’ve reviewed a product i used which was simple enough to turn a good profit simply using the guide that accompanied the software. Have a look at the review at: theforexfunnelreview.blogspot.com
March 5th, 2009 at 7:30 am
With Forex being marketed everywhere, it’s easy to see why a lot of people would make the mistake of trying their hand at it. Every time I tried to enter this market, it ended up being a really good thing I was only using a simulation. The one good thing I took out of the experience, though, is that this (and all trading/investing) market is just as viable as anything known to be legit, it’s just extremely risky, which is something that anyone considering moving their money around needs to consider first anyway.Also, a really good trading platform is available here: netpicks.com/Notice also that half of their homepage is a warning about the risks involved in trading… Take it seriously and you’ll be just fine.
March 5th, 2009 at 7:30 am
If you like forex and Digg you may want to check out the first and only forex Digg style website: fx-bar.com
March 5th, 2009 at 7:30 am
I really dont think a system like this is going to work. Its more like playing a computer game than it is for serious trading.I make a living trading the forex markets (check out my blog) and I absolutely cannot do without my realtime graphs and price indicators. The problem with the software on this site is that it doesn’t help develop a traders skills – admittedly I haven’t used it but I think I can safely say it is more of a gambling game than a true trading platform.But feel free to disagree!Jamie Singh forex-trading-strategy-and-system.blogspot. …
March 5th, 2009 at 7:30 am
learn about forex trading here at sunburstraces-certificates.org
March 5th, 2009 at 7:30 am
Great stuff!I just got this great Forex Autopilot (Expert Advisor) you should check it out below: fapturboreview.org
March 5th, 2009 at 7:30 am
I do trade FOREX regularly. A couple things that seem to be missing here. finance.varolmak.com/
March 5th, 2009 at 7:30 am
Our Forex Robot Is NOT Illegal!get you auto trading robot WIN WIN WIN tagally.com/main/article/gFW
March 5th, 2009 at 7:30 am
I love this content and I love forex very much.Best regards, guidestoforextrading.blogspot.com
March 5th, 2009 at 7:30 am
All of the Forex Headlines : forexnews.varolmak.com
March 5th, 2009 at 7:30 am
There are programs out there that can help you with forex tradinging. for an example of one go to : forexboomerang.co.uk/bargain-of-the-mon … this talks about a forex signals system (that is on special offer at the moment – I paid full price when I got it
), I have used the system that is talked about here and I have had good success with it. you could always go down the fully automated route, there are many automated systems out there, Forexboomerang being the latest, forexboomerang.net there is a new system coming out soon though. Its called phantom forex. Lots of development time has been spent on this software (I know someone involved in the project) and people around the project are very excited, I have signed up for updates and release information as it comes to light on the website forexphantom.net/ (you are also entered into a draw to win a copy of the software 
). I am of the opinion that the systems I have given details on here will give you more chance of making money with forex then playing games with cartoons.
March 5th, 2009 at 7:30 am
Forex Trend SystemsVisits: forextrendsystems.blogspot.com
April 2nd, 2009 at 7:08 am
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July 8th, 2009 at 10:16 pm
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