Time is gold, and that’s true in life and in trading. You will certainly have plenty of time while still ensuring profits when using the Day Trading style in Etoro. The review on making $990 will be proof that making “Gold” is very simple when you are a Day Trader.
Day Trading is a perfect trading style
Day Trading is trading during the day, meaning that the trader opens and closes orders on the same day in Etoro. It will save you time spent on analyzing and help you make the fastest investment decision. Imagine how amazing it is when all the day trading work is solved within 30 minutes.
For the rest of the time, instead of observing the price chart like other trading types, you can do what you like such as listening to music, watching movies, jogging, etc. This helps you to improve your spiritual life and your health.
Day trading uses technical indicators to find entry and exit points during the day. I rely on the signals of the Bollinger Bands indicator to make a quick decision. I enter a trade when the price breaks out of the upper or lower bands.
Open a BUY order when: the price closes out of the lower band or support zone.
Open a SELL order when: the price closes out of the upper band or resistance zone.
Review orders opened in Etoro with Day Trading
Conditions: Daily Japanese candlestick chart. Set up the Bollinger Bands indicator in Etoro.
Trading commodities: Gold, Oil.
Invest $500 in each order with a stop-loss at $250 (50%) and take-profit at $250 (50%).
Trading with Oil as the commodity
1st order: The candlestick closed out of the lower band. Opened a BUY order right there, resulting in $250 of profits.
4th order: The price closed at the support formed earlier. Opened a BUY order at that point, resulting in a profit of $250.
Trading with Gold as the commodity
2nd order: The candlestick closed outside the lower band (the previous 2 candlesticks were sticking to the band). Opened a BUY order right there, resulting in $250 of profits.
3rd order: The price closed out of the lower band at the support zone. Opened a BUY order right there, resulting in $240.54 of profits.
Day Trading is an investment type that is less time consuming and easy to conduct. A Day Trader will secure his main job after finishing the market analysis and evaluation which is within a few minutes. With the time saved, you can earn more income, learn more knowledge to improve your self-worth. Practice Day Trading with an Etoro practice account. It will help you save a lot of time for yourself.
Finally, for every trade to be opened, you must have a carefully calculated stop-loss. It will help you avoid major losses, or even worse, burning out your account.