eToro is a trading platform for trading and investing in assets, such as stocks and cryptocurrencies. The platform offers asset classes, but you can also purchase other markets like bonds, commodities, and forex.
The eToro platform combines essential charting tools and advanced tools that teach novice traders how to utilize price trends to predict what will happen next! You will learn how to analyze indicators to determine which asset class would be most profitable at any given point in time. You will also learn to use sentiment analysis to determine whether the market is trending bullish, bearish, or sideways.
Using the eToros’ built-in indicators, you can analyze five trends: divergence, support and resistance, and support and resistance zones. Once you have identified the underlying trend, you can make educated decisions on which asset class you want to trade. click here https://www.sfgate.com/market/article/etoro-review-17052066.php for more details.
To trade on the eToro platform, you must first create an account and apply for a free virtual wallet. Your virtual wallet will hold your eToro coins (ETN) which are actual cryptocurrencies like Bitcoin or Ethereum. After you have created a virtual wallet, you can then complete your first trading purchase by depositing in the form of funds from an external bank account. After completing your first purchase, you will then meet with the “OmniBot” and make your trading decisions from there on out.
The easy part of trading is picking the suitable asset class to trade. You can choose from stocks, commodities, bonds, or forex and currency pairs. When selecting stocks or forex, most novice traders decide to trade in one of the eToros’ better-performing asset classes: currency pairs or commodities. This requires more research on what type of market is being traded before deciding which asset class to invest in because each investment has its long-term viability and risk factor.