eToro Presents: How to Become a Forex Guru
With the upcoming launch of the eToro Guru Program, we thought we’d give traders a little insight in what it takes to become a forex Guru. Thanks to our social trading network, eToro OpenBook , eToro traders can follow each other’s activities, communicate with each other, and even copy trades manually or automatically. Of course, just as not all traders have an equal rate of success in the market, not all traders have the same amount of followers. When we see that a certain trader is attracting a lot of followers and a lot of general attention from the community, we call that trader a “Guru”.
What’s so great about being a Guru, you might ask? So far nothing, except for the opportunity to share your success and help others profit from the financial markets. However, with the impending launch of eToro’s Guru program, all that is about to change. The Guru program offers top traders the opportunity to earn an extra income based on the success they bring to their followers through copied trades. For a trader who has a large following that copies trades via the CopyTrader, being a Guru can mean a significant increase in monthly revenues.
However, not all forex traders are eligible for the Guru program. In order to become a Guru you have to amass a certain number of followers, which is not as straight forward as it seems. Clearly if you’re a top ranked trader or a market leader, you will be have a lot of exposure in the OpenBook pages and thus likely to amass a huge following. However, even if you are not one of the top 10, it doesn’t mean that you’re not a very good trader who can benefit followers immensely. The only problem you have is a problem of exposure. It’s not enough to be an excellent and consistent trader, to get followers one has to get involved in the OpenBook community. Answer posts, participate in discussions, follow others and make yourself visible to others. Only then will they be able to see that becoming your follower could be an asset to them.
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