Volatile Markets, Profitable Signals and Successful Traders

Written by: Dave Green • Tuesday, June 11, 2013 • 2 min read

• Last updated: Tuesday, June 11, 2013

As you probably know, for the past month the financial markets have been extremely volatile. This is due to some dramatic economic data, reports and strategic decisions by the U.S. FED from one side, and the BoE on the other. Add to that the non-stop developments in the Euro-Zone and the uncertainty about the Japanese Central Bank's policy, and you get 'dancing and jumping' volatile markets. Take a look at the chart movements of some of the major currency pairs and you will get the idea…

Why am I writing this? I think that currently it is a slightly dangerous, sensitive period to trade currencies, but on the other hand, this period can lead to some outstanding profits. Our Forex signals system for example, did so well that the first week of June was one of the best, most profitable months since we launched it a few years ago, with more than 30 profitable signals, 75% winning percentage, and hundreds of pips profits!

And to another thought:

Throughout the last few weeks, more and more of our members have been sending us questions about eToro's OpenBook Copy-Trade. More than 70% of the emails ask for tips, recommendations and confirmations about whom to copy. For those of you who are not familiar with this service, OpenBook is the largest social investment network in the world. It allows any trader to follow and automatically copy to their trading account the most profitable traders in the world with just one click.

So let me help you guys with it: first thing you need to do in order to make big bucks is to learn how to use OpenBook's ranking tools. It is quite simple! They do all the dirty work for you. You can filter the thousands of potential investors to copy by profits, winning percentage, number of copiers, winning rates, level of risk taking and a few more interesting criteria. I suggest focusing on 2 main points:

• Period: review the trader's activity in 1 month to 6 month time-frames. These are good periods to view any trader's activity, since you want to see that the trader you wish to copy has long-term success. You don't want to find out that all of their profits were made during the past few days.

• Profit: look for traders with a profit percentage higher than 100%

For more information on how to best trade with OpenBook go to FX Market Leaders Social Trading page. I advise you to download the free guide on the right of this page, since it is full of priceless information.