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Make Money Online by Forex Trading

Posted 10th December 2008 | Comments

I was introduced to Forex trading a while ago but started trading for real about month ago and after seeing the results and the Money :) I highly recommend this to anyone who is looking to make money online or offline. Forex stands for Foreign Exchange and what you do is buying one currency while selling another currency. The main reason why normal but eager people were reluctant to start Forex trading was the complexity of the Forex platforms available to the users. You needed to analyze charts and heaps of data to get the clear idea of the market. That's why I use e-toro, a free user friendly Forex platform that makes it easier to visualize the market. Don't get me wrong here , you still need to analyze the charts, but e-toro makes it easier to visualize the market and makes it fun to trade with a friendly user interface. The below video gives a glimpse of the functionalities.

As you can see there are lots of benefits in using e-toro with the biggest advantage being the ability to visualize your trading experience. There are many other advantages as well. Lets look at some of the features you are getting with e-toro.

  • Easy to visualize interface
  • Free practise account so you can practise before you start trading for real
  • An account manager to guide you and to point out your mistakes
  • Ability to chat with other traders so you can discuss your trades with them
  • Contest every week where you can win prize money for getting profit
  • bonus prizes for ending a week with profits
  • first time deposit bonuses
For me easy to visualize interface and the ability to chat with other traders are the things that set e-toro apart from other trading platforms. Don't make the same mistake I did and read this post and forget about Forex because people are making good money from Forex trading. I made 130$ from just two trades today and with a bit of practise so can you. Anyway its free to download and you can play around with the practise account ( you get 2000$ play money ) and decide if its the thing for you or not. So ,
  • Download eToro ( its free :) )
  • Create a practise account ( you get 2000$ play money )
  • follow this course, http://www.babypips.com/school/  ( its also free )
  • When you feel comfortable create a real traders account and start making money
If you have any question or doubts, feel free to contact me or share them in the comments section.

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Post Title: Make Money Online by Forex Trading
Author: Nishadha
Posted: 10th December 2008
Filed As: Make Money Online
Tags: , ,
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  • Rakhitha
    About the legal side, you may want to keep an eye one who much money you send out from your local accounts when you are funding/investing there are limits on how much you can send out from the country. When it comes to third world countries the limits can be pretty low. But I don't know the big brother is watching or not.

    Don't you have to keep an eye on all those figures and data all day long when you are doing forex trading. Unless you are doing long or medium term trading.

    Also have you checked out any forex investment funds and managed forex accounts where full time traders does the trading for you for a commission. Ofcourse that takes all the fun out of trading. But if you are not a good trader or if you dont kave time to trade yourself they can be very useful.

    Most managed accounts I have came across require more >$1000 minimum investment. But there are investment funds that allow micro investments. But I think they are less reliable. And most of them are based on countries with little or no investment/financial regulation. And there are lots of scams too. May be its something you can check out and write something on.
  • Thank you for this very informative comment. I haven't really checked out the legal side of things , Since you do own the account and the money in it maybe this doesn't qualify as sending money out of the country. But will check on that.
    You don't really have to keep and eye on them every minute because you can automatically close depending on minimum loss or profit. But it is true that keeping an eye helps you minimize risk.
    I have being checking out some managed FOREX accounts and so far I have failed to come across a reliable looking one. There are some that starts with 100$ minimum investment and has a payout in a week. I suppose you can try out some relatively low risk ones like that. I will check those out and hopefully put up a post about them.
  • Experts say now is the perfect time to make money on the Internet, and online business owners are still seeing big profits, even in this roller coaster economy. That's why our entire range of information, software, and training products is designed to help you create an online business that you can easily run from your home, on your schedule. So if you're interested in making money online, we have everything you need to get started
  • chenK
    Thanks Nishadha.

    Are you still trading with etoro? if so what is your payment and withdrawal methods? Is there any legal limitation in srilanka to tranfer funds?

    Please tell me if you have any experience.
  • babypips is very good information site about forex
    etoro platform is user friendly and has weekly contest too
    thanks for the info :)
  • Glad you found them useful :)
  • Yeah, I agree eToro user friendly features that makes forex trading easy for newbies.
  • Sadder but wiser
    Yes, I was taken in by Smartappsportal.com. I believed the hype people put in these blogs. I just asked for a refund. However, I'm out a month of advertising time and effort that could have been spent on something legit and profitable.
  • Fernandez
    Thank you for these information.
    I want also to share my own experience on smartappsportal.com. Doing business with this gives you quickly a lot of money. You need to invest a small some before earning a large sum.
  • Nice post on E-Toro, i have been seeing the EToro site for a long time but didnt have time to try it... I will now check it out.
  • Thanks , be sure to follow the training if you are new to Forex trading :)
  • Britney
    smartappsportal.com is a SCAM!!! I fell for their scam and al they did was promise me success but they kept asking me for more money! Everyone on the blogs that has been talking about how good they are, is from their marketing team! I can't believe I fell for their scam! I lost $150 this week! I give up on making money on the internet!
  • waveripper
    If you do a search for SmartAppsPortal.com, and look at all the reviews - you'll see that they are all by the same people/groups and all posted at about the same date/time.

    Your post is the first and ONLY I've come across calling it out. Remember: if it walks like a duck and talks like a duck - it's probably a duck. The good reviews are all from the same people. Probably one person doing affiliate marketing.

    Always do your homework

    Thanks for being HONEST
  • Thanks for the compliment although I haven't exactly called it out. I just cant recommend a product that I haven't tried out or know for sure that it works. As you have mentioned its always a good idea to do your homework before buying a product and its always a good idea to buy through reputed merchants like click bank so at least you have a chance to recover your money.
  • Britney,
    Thanks for sharing your thoughts , I was a bit surprised that my post about Forex trading was getting traffic for key word "smartappsportal" and found out that there is a comment about "smartappsportal". I haven't tried out the service myself and I'm definitely not recommending it to anyone :)
  • @Forex trading beginner,
    Yep , you need to learn and practise a lot before starting to trade for real :)
  • Have not try etoro yet, try ti set up one and see...
    Bear in mind, forex is not suitable for every one, not every one suitable to trade forex either. need to read a lots, learn a lots....
  • @Guy,
    Register with e-toro , deposit cash and you can start trading in minutes :)
  • Yes, forex trading is one of my top online activities. I do http://www.smartappsportal.com, forex trading and I am looking for a third solid online money maker. I feel I can keep 3 going at maximum performance. I am making big money with these 2 looking to add #3. If anyone has any ideas let me know. I only want REAL deals. Thanks
  • Guy
    Hi,
    Can you please shed some light on how forex trading can be done within sri lanks. Is there any legal requirement ? And do we need to register ourselves at some broker house.

    thanks in advance
  • Gautam
    Great post. Recently I've registered with a site called smartappsportal.com , Awesome site. It just takes mins of ours daily to earn. They provide all the benefits and support. And the payments are more reliable.
  • @Indika,
    Haven't thought much about legal requirements , don't think its illegal to trade though :)
  • Indika
    Thanks, and one more question Nishadha.

    Do U know the legal aspects of forex trading in SL.
  • @Indika,
    Yep , if you are new to trading it is one of the easiest platforms to trade. Just remember to use the practise account until you are comfortable with trading and treat the virtual money as real money :)
  • Indika
    I love ur blog and it is very informative.started trying eToro. Can U comment on ur experience with eToro. Do U still recommend eToro?

    Thanks
  • Hi,

    If you are interested in Forex Trading, why don't you check out www.BetOnMarkets.com?

    Do contact me at support@betonmarkets.com should you have any queries

    Pathma
  • @Charith,
    You are welcome and thank you for speaking up :)
  • Thanks for introducing me to the world of forex trading. Now I'm learning it and practicing with your help.

    I think forex trading is very genuine. Only you need to learn it and get some experience.

    People who call it a pyramid scheme or a scam: please do a research before posting. Please don't just post any false information because you don't like it or you don't trust it. Truth is out there....
  • @Hugo,
    Minimum deposit is 100$ , but it is recommended to deposit at least 400$ because then you get an account manager. Sorry to hear about your losses. 130$ was earned from one trade with an investment of 100$ ( 130% gain ) , btw if you are from USA then e-toro is not available in USA
  • i did forex for a year until a got great losses thanks to EURO/USD :\ but now im "forexing" again... lol
    about etoro. what is the minimum deposit? what are the spreads? you managed to earn $130 but how much dollars have you invested to make that money?
  • @aravind,
    Thanks , go ahead and try , its free to download and you can practice using the free account , taking action is the most important thing in making money online.
  • Very useful post will sure give it a try.
  • @indi,
    As far as I know in a pyramid scheme you need to promote the product and build a down line to make money. This is not something like that , sure you can earn money promoting it , but it isn't a must to earn money. All you need is some common sense and training.In Forex trading you make your own fortune. I would like to know why you call this a pyramid scheme ? If you don't have any proof please don't comment without researching.
  • This is a pyramid scheme. The only people making money are the website and the people promoting it
  • yes, they are the best in the industry. Recommended highly for anyone to join.
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