Gurus are Rookie Magnets and Here’s Why

Social trading Gurus have several traits in common. First, they are financially successful in online trading. Second, others want to follow Gurus because they are willing to share their skills and help them become financially successful. Third, they are just like everybody else. The only difference is they have a set trading system in place that generates profit. It is not difficult to be a eToro Guru. Even a people-based portfolio that operates from the actions of other traders and is profitable qualifies as Guru status. Gurus enjoy two incomes – they earn money from social trading and from other traders copying them.

About eToro Gurus

Traders who are just starting out choose Gurus to follow. On the user-friendly, social trading network, they are shown what Gurus are trading and when they are trading. New traders are given access to their success rates and trading strategies. Social trading means additional information is available on Gurus, like their place of residence, the assets they are trading, risk level, when they open trading and close, and what other traders have to say about them.

New Traders Learn from the Masters

These traders watch and learn from other traders and Gurus. They use the tools of the social trading network to contact Gurus for advice and strategies. New traders copy the trades of others to further their knowledge, and use it to their financial advantage. They are following and copying the best of the best in real time, and profiting from it. New traders turn into Gurus.

The Path to Enlightenment: Becoming a Guru

Gurus have an eToro account and share their performance with the OpenBook trading community. OpenBook is a live trading feed that shows real people trading in real time. The feed’s page lists the top traders and who to watch. There is a discussion forum as well. Gurus establish their reputations based on their success on OpenBook. Their success attracts a minimum of 10 traders, who copy their trading methods. From there, Gurus attract even more people. They keep progressing to reach the Guru benefits of that second income, bonuses from eToro, a website for themselves that invites followers who are not familiar with eToro, and they write about their success on the eToro blog.

Tips from the eToro Blog

Social trading is not a get rich quick story. It is a progressive method of strategy. One blogger wrote that many new traders are losing money because they don’t take the time to learn the basics. The blogger distinguishes between good and bad traders, and then, he identifies a smart trader as one who learns to recoup the loss and avoid past errors. He gives a couple of quotes from famous people that essentially communicate money isn’t as important as knowledge. He writes 95 percent of traders in the currency market lose money because they lack knowledge. Fortunately, learning and earning go hand in hand.