Today I learned some good lessons on risk and money management, which is probably the most important part in Forex trading. E.g. I learned not to risk more than 5% of your trading account on a single trade, usually professional traders take less than 3% per trade. I also realised that a high leverage, like I used on my ultra-profit demo trade, is the worst thing you could potentially use while trading your positions (I used a 400:1 leverage). You could destroy your whole account within a single trade.

You may ask why I tell you all that? Well, I just want to point out that I’m still busy and won’t maintain my blog as regulary as I should . Right now I’m back in learning everything about the Forex, different strategies, technical and fundamental analysis and many more things. I do this because I think the Forex market is such a great money making opportunity that it’s well worth the time invested in learning it.

If you want to find out more about the Forex, I highly suggest to visit Babypips, Forex Strategies Revealed and Oanda as a really nice trading platform (which is even registered and therefore much more secure than eToro for example).

Have a nice day,
Querblogger

Yesterday I made a trade on the USDJPY (US DOllar, Japanese Yen) currency pair and within only 15 minutes I made a net profit of $600 from investing $500 by going short on that currency pair (meaning I first sold USD against JPY, and later bought it back for a cheaper price to make profit).

I must admit that this trade was anything but safe and I doubt anybody really into the Forex market would recommend i). I used an extremely high risk level and could have probably also lost my investment in 15 minutes too. Maybe I had some good portion of luck to make that profits yesterday. Anyway, since I only traded with my demo money, I had nothing to lose at all. And if I’d used real money, I’d be a richer person now, hehe!

eToro is probably the greatest Forex platform I’ve ever seen on the market. They offer an easy to use trading interface with realtime rates and market news. You can fund your (real) account with different payment methods including Paypal and start with as low as $50 as your first deposit. They have really low spreads (think about it like trading “fees”) and offer you a leverage of up to 400 (the risk level already mentioned above). I can only recommend this Forex platform, especially the demo account to train your Forex skills at first! Feel free to download the eToro client now and start trading, for real or just for practise.

When I’ve enough money (and skills), I’ll soon start trading the Forex for real. I’d even be happy to make only 10% of those $600 a day, but I assume this will be a matter of some hard work.

See you,
Querblogger

First of all, eToro is a platform that enables you to trade currency pairs on the Forex market. I’ve already written about the huge money making potential from doing Forex several months ago, take a look at my introduction to Forex and some helpful resources. What makes eToro so special is the way they deal with trading the market. Unlike many major brokers which provide full blown analysis and statistic tools that help you making a trade, eToro offers a dead simple software where everybody is able to trade the Forex in a funny, amusing and easy way, which doesn’t mean they are not professional! You may download their software and open a free demo account to see what it looks like, simply follow my link (no, I won’t get paid any money if you only use the free version) and try it out.

Really interesting is the fact that they pay you, as an affiliate, $100 for new users that fund their (real) account on eToro. Funding an account with real money is easy, the minimum you need is only $50 plus you’ll get a 50% bonus of up to $200 for your first deposit (e.g. if you fund it with $400). After you’ve added funds, you’re immediately able to trade the Forex market with real hard cash (but be careful that you’ll also face a high risk unless you don’t have any experience with it).

eToro looks like a good program to make some nice affiliate commissions from. Because you get paid for every new user that adds a minimum of only $50 in their accounts, chances are quit good to make some money with their affiliate program. There isn’t such a huge barrier for new users and it gets even better because of the 50% bonus, it’s likely that a person interested in Forex trading will effort that amount.

Right now I’ve place a banner in my blog’s header and so far I got only clicks but haven’t earned any commission. I have a CTR (Click Through Rate) of around 2% and that shows me that at least some people have an interest in eToro. Anyway, I will leave it their for some more time to see how it will perform or not (yes I know that I’m actually not exactly in the Forex niche with my blog…).

Should be all for now.

See you,
Querblogger

PS: I’ve just joined a nice webmaster forum called Qdoos. Feel free to head over there where you can also find me and my friend Tiberius a.k.a. Midwest, who’s already a Junior Admin. Congrats Tiberius!