Rising of a spanking new trend of social trading has now created hype among the public. Every other pack of people holds chit-chats on this topic. A red hot term which is now turning synonymous with social trading is eToro. One can certainly not overlook the social network of e Toro while discussing social trading.
Facts and fallacies revealed that it is the largest social trading network currently on board and it is obvious that the gossips and myths tend to exist if one is so famous to be labelled as ‘The most renowned’, and this is what this website is experiencing now. There are many myths wandering around about eToro and not just myths but interesting myths, let us bust that wide open now.
The most famous myth is that this trading platform will get you rich instantaneously. Actually, no one can do that because business requires a lot of patience. Let me quote Bill Gates here, he said “Business is a game of devotion and dedication with a lot of patience”.If the wealthiest man of the world is suggesting you to keep patience in business then this website is really no one to get you a bag of bucks as soon as you start off. It only promises to reward you with real success if you stay patient, active and hard working in this field full of risks.
Social trading at this trading platform depends upon day to day clever decisions, which is another myth for this social trading network. But in fact trading takes decisions full of patience and the best traders pay close attention to fundamentals and long term trends.
Perception here is that traders would never take wrong decisions. Let’s be clear, traders are not angels but ordinary humans like us, whether a newbie or a significantly experienced one, everyone faces big and small business blunders. People must be mindful of the fact that everyone suffers slaps of substantially enormous losses but the winners stand to it smartly and use some of their wise strategic trade weapons against those disappointments.
Myth#4 is “the more the better”, it is somehow synonymous with “You ripe what you sow”. It is a perception amongst investors that one would get more if he spends more different areas but actually the truth is entirely opposite, beside being versatile if you spend devotedly in a single area you could amass huge profits. So, always focus on a single area and do your ever best for it.
It is not actually a myth but a reality. Many of us reckon that we could earn more by copying some experienced traders. And yes it is….! eToro lets you follow the footsteps of some market leaders who eventually lead you to be one of them.At the end you must know that without being a part of eToro’s social crowd of trade you will never know the real convenience it is offering. So, instead believing on myths you must give it a try yourself.