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Congratulations!
You’ve set up your eToro account and now it’s finally time to start investing.
Let’s dive in.
When opening a new position, you can choose from two options: either a buy position, or a sell position, which you might know as a short.
Wondering which type of position to go for?
It’s simple: buy when you believe the value of an asset will increase; sell when you believe its value will decrease.
You can open a position from your watch list, from the discovery tab, or, if you’re interested in more of an asset you already own, from your portfolio.
When opening a position, first choose how much to buy or sell – either as a number of units or in dollar value.
Your position can either be buying the underlying asset, or a CFD.
If it’s a CFD, note that you can set your Stop Loss and Take Profit points.
These are not only essential, but in fact mandatory by regulation to protect you,the investor.
You can also choose to utilize leverage, and to what extent depending on the leverage limits for that particular asset.
Don’t forget that with great leverage comes great responsibility – and fees – so be sure to check out the overnight and weekend fees at the bottom of the Opening Trade window.
If you’re opening a position while the market is closed, not to worry, an entry order will be created and everything will automatically move into action as soon as the market opens, or when the market reaches your chosen rate.
Whether you’re buying or selling. know that another cool eToro feature allows you to edit your Stop Loss and Take Profit even after the position is opened.
Simply click the relevant position and adjust it.
That’s it – just a few short clicks and your position is open.
Happy investing, thanks for watching, and see you on eToro.