WebTrader 2.0 – Your Operational Basis
The trading system you will use to manage your eToro social trading portfolio is the WebTrader, currently in its 2.0 version. The WebTrader is designed for simple and functional use, which enables you to start your manual and social trading activity immediately.
Before you start your trading adventure with real money you can practice using the system, experiment with social investment strategies or test your own investment strategies in the WebTrader’s practice mode. The demo version is free and offers the same functions as the real thing, including real money rates. The only difference is that you’re trading with virtual money.
The first thing you might want to do is decide which market to invest in. In the top part of your screen, right beneath the menu bar, you will find the major currencies, commodities and indices to invest in and their live rates. A click on the little chart icon will instantly display a chart for the particular market and from there you can access all the relevant analytical data and charting tools.
If you want to make trading easier for yourself, you can enable ‘one click trading’ by checking the box in the middle of the screen. This will lead you to a window where you can enter some basic strategic information that will set the basic parameters for your one click trading activity. All you have to do is pick your risk level, the amount you want to invest, the maximum amount you are willing to lose (Stop Loss) and how much profit you’re planning on taking (Take Profit).
Once you have made all these decisions and enabled one click trading, you will be able to buy and sell with just one click on the buy or sell rate in the rates window.
This panel aggregates all the investments in your portfolio, including Copy Trading, manually opened trades, stock investments etc.
You can use the CopyTrader view to see your trades sorted by the investors they’re copied from, or you can use Markets view to see your overall exposure to each market. In CopyTrader view, a click on any copied investor will open up a list of open trades you’ve copied from them.
The same panel also contains your trading orders, your history, and the latest market news. Simply use the tabs at the top of the window to navigate between the different options.
When you’re all set it’s time to check out what other users are doing on eToro. Click the eToro OpenBook button on the top menu bar and get in touch with your fellow traders.