What I’m talking about presents an extraordinary opportunity to profit should you decide to get involved with Forex at the right time.

Previously here at Forex Beta Testers we’ve talked a lot about educational programs that can help to enlighten students as to the finer points of risk management. However, we’ve never recommended a particular trading platform. Well, that’s about to be rectified because we are now proudly featuring eToro as our preferred Forex trading platform.

We are impressed with Etoro because it appears evident that they place an important emphasis on the quality of its users’ trading experience and therefore, we view this as not just another trading platform. eToro provides all levels of professional traders with the opportunity to trade in a user-friendly environment while at the same time,  providing unique and innovative tools. In fact, you’ll love the vibrant user community and supportive environment that helps to improve overall trading skills.

Perhaps one of the first things you’ll notice are that the trading conditions provided by the eToro platform are unparalleled in their flexibility. These can easily be adapted by individual traders to meet each one’s needs. These include:

• Four account levels ranging from $50 beginner accounts to VIP accounts with VIP benefits
• Personal account managers
• No commissions
• Low spreads
• A wide range of leverages from 1:5 to 1:400

Bottom line, eToro has definitely become a global force among traders at large thanks to their friendly interfaces, advanced tools, competitive trading conditions. These proactive tools enable individual traders to communicate and profit from each other’s knowledge and experience while they trade thus eliminatin the need for outside forex forums.

One such trading tool that eToro developed for its growing community is the Top Traders’ Insight tool. This easy to use tool gives you the top ten currency pairs bought and sold by eToro’s top one-hundred traders at any point in time. 

Another advantage is the new eToro Social Trading platform. Now this  doesn’t just give you the benefit of seeing how others trade, it also gives you a platform to become an influential force among hundreds of thousands of traders– Fantastic!

Now if that weren’t enough, you can even trade better and safer than ever before with yet another one of eToro’s new features – micro lot trading. Micro lots are ten times smaller than the standard mini lots, which mean that you can open ten times more trades at eToro, with an investment as small as $2.5! This enables you to risk less on each position and to practice good money management; something we preach here at Forex Beta Testers.

We hope you’ll take advantage of all that eToro has to offer and we’ll be sure to keep you posted on new developments with their trading platform as they occur. 

Trade well; be well.

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In any event, back on topic…  Forex Nitty Gritty could very well be your entry into taking matters into your own hands, particularly if your worried about equities, but at the same time unfamiliar with Foreign Exchange trading. 

Borrowing from my official Forex Nitty Gritty Review, the TRUTH–If you don’t really understand HOW to profit with Forex trading, or, if you are NOT WINNING on your Forex trades, you need to figure out WHY. You are doing something wrong–And we bet our reputation (and it’s a good one) that you’ll find in the Forex Nitty Gritty what you’re doing wrong and HOW to correct it. This isn’t a get rich quick, black box, automated program–No robots here, sorry. This is an absolute TAKE CONTROL OF YOUR OWN TRADING course.

You can read my complete review here. Thanks for visiting… See ya.

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Forex Beta Testers have implemented a simple set of rules to follow when Evaluating a Forex Trading Method, course, system or program and today we are happy to share them with you. First and foremost, any Forex trading method you consider must be complete. By complete, we mean the trading method must teach you the following:

1. Conditions

The precise conditions under which you can consider a Forex trade to be entered into. These are known as the “setup” conditions and refer to the technical indications (usually) that a Forex trade possibility exists.

2. Entry Point

The exact point at which you would enter into a Forex trade (price). This refers to the Entry Point (or Entry Rules) and means the price at which a Forex trade would be executed.

3. Rules

Rules for establishing initial and ongoing Stop loss marks for an open Currency trade. As part of Risk Management, it is imperative, especially in Currencies, to have Stop Losses ALWAYS in place. If a Forex trading method or Forex trading system does not teach or define these, you should abandon it. The upshot being that without effective stop loss management you can be easily wiped out in a single Forex trade should the market move against you.

4. Exit Strategy

The exact points and an effective strategy for exiting a Forex trade. Unlike stocks, you will rarely, if ever, find yourself holding a Forex pair position in the markets for extended periods of time. Therefore, it is also important that a method teach you a strategy for exiting a Forex trade once that trade has become profitable.

Combined, these four elements will help you to eliminate chance plus, actually Streamline and Optimize Your Forex Ttrading process. Without any of these, no Forex trading method, system or program should be considered because in each individual case, traders will be exposed to steep losses or taking poor positions. Keep in mind, not every setup will execute into a trade, nor should every Forex trade be taken.

Once implemented, these rules will help to protect you both in evaluating and executing the method when trading Currencies.

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Similarities between Forex and stocks are such that charts can develop repetitive price trends giving the enlightened trader significant profit opportunities on a more consistent basis. Call it technical trading if you will, but it’s safe to say that traders with a strong trading discipline, superior trading methods and most important; sound money management skills will enjoy a distinct advantage in the currency trading arena.

We would also like to point out that one of the reasons Currency trading has become so popular is the concept of leverage. Through leveraging, Forex enables traders to take positions with a smaller account size than would be required for trading stocks. Since margin requirements on Forex are smaller than for stocks, the reward ratio for profitable trades increases, as well as the risk. Case in point, a Forex broker might offer at least 100:1 leverage, which is adequate in order to generate significant profits while maintaining sound risk management. On the other hand, some brokers offer up to 400:1 leverage–but the risk/reward ratio isn’t in favor of the trader.

So, what can be learned from this synopsis becomes quite clear; leverage, in conjunction with reduced margin requirements and high profit potential are the drivers behind the rapidly expanding Forex market. But by the same token, Forex traders, especially beginners, must become well-versed in methodology and practice. We believe that’s the key to our success.

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