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02:55
Sajid Ali
Upon hearing the idea of sharing your trades with thousands of other traders, some people might feel a tad reticent. Haven’t we all heard stories about the guy who made millions on a secret stock tip that only he knew about? And in general, financial trading is accompanied by an air of mystery and the notion that if you know something you’re better off keeping it to yourself.
Well, this notion might apply to the stock market, but in the forex, commodity and indices markets it is actually sharing information that pushes you forward, as eToro’s revolutionary OpenBook application shows. When trading in these markets, because of their immense liquidity, keeping information to yourself doesn’t make any sense since speculators don’t really have the combined power to influence these markets in any significant way. On the contrary, through sharing information, one can be exposed to more trading ideas and therefore make more informed trading decisions.
For novice traders, the value of sharing information on eToro OpenBook is obvious: getting inside into professional traders’ activities and strategies provides an invaluable source of learning material. What’s more, with OpenBook, novice traders don’t have to rely solely on their own limited skills for analyzing the market, but can also use more experienced traders to verify their analyses and even to copy trades instantly.
Expert traders also have a lot to gain. For starters, they too can benefit from having access into others’ trading activity, if only to get new trade ideas or to get second opinions on their own ideas. More importantly however, by sharing winning strategies and gaining followers, eToro’s expert traders have the opportunity to gain extra profit by trading for their less experienced colleagues, thus making more money for no extra work.
On the whole, the advent of social forex trading through the launch of eToro OpenBook opens up limitless opportunities that all become possible once traders can share information freely and easily. An open network of traders accelerates the exchange of ideas so that each individual trader can get exposed to much more information and then incorporate that information into their own trading decisions instantly. Best of all, participating in the OpenBook social trading experience requires no extra effort or time on behalf of the traders – all you have to do is trade and each trade you make adds to the trading data received by another trader.
In the end, sharing information does not detract anything from any one trader, but instead enables eToro traders to grow together and trade smarter as a community.
Every day more forex beginners understand that to trade professionally and become experts, they need to have a proper forex training, as well as a lot of practice and mostly the be constantly updated with the latest forex news .
Well, this notion might apply to the stock market, but in the forex, commodity and indices markets it is actually sharing information that pushes you forward, as eToro’s revolutionary OpenBook application shows. When trading in these markets, because of their immense liquidity, keeping information to yourself doesn’t make any sense since speculators don’t really have the combined power to influence these markets in any significant way. On the contrary, through sharing information, one can be exposed to more trading ideas and therefore make more informed trading decisions.
For novice traders, the value of sharing information on eToro OpenBook is obvious: getting inside into professional traders’ activities and strategies provides an invaluable source of learning material. What’s more, with OpenBook, novice traders don’t have to rely solely on their own limited skills for analyzing the market, but can also use more experienced traders to verify their analyses and even to copy trades instantly.
Expert traders also have a lot to gain. For starters, they too can benefit from having access into others’ trading activity, if only to get new trade ideas or to get second opinions on their own ideas. More importantly however, by sharing winning strategies and gaining followers, eToro’s expert traders have the opportunity to gain extra profit by trading for their less experienced colleagues, thus making more money for no extra work.
On the whole, the advent of social forex trading through the launch of eToro OpenBook opens up limitless opportunities that all become possible once traders can share information freely and easily. An open network of traders accelerates the exchange of ideas so that each individual trader can get exposed to much more information and then incorporate that information into their own trading decisions instantly. Best of all, participating in the OpenBook social trading experience requires no extra effort or time on behalf of the traders – all you have to do is trade and each trade you make adds to the trading data received by another trader.
In the end, sharing information does not detract anything from any one trader, but instead enables eToro traders to grow together and trade smarter as a community.
Every day more forex beginners understand that to trade professionally and become experts, they need to have a proper forex training, as well as a lot of practice and mostly the be constantly updated with the latest forex news .
