eToro - anyone using it?

[ian]

Signed up with the minimum, AdamH, you should have $100 extra in your account.

Without being cheeky, given that I started this thread specifically about eToro, if someone else decides to sign up, can they use my referral and once I have a single sign up, I'll remove the link so Adam benefits again:

http://etoro.tw/1xg0IeG

 

[MikeJDS]

These are the five I am copying:

CatSoir
AlexMKong
Gstillr
kovandap
onlybyme

Not sure if you noticed?
But it appears CatSoir is a 100% copy of the account of Gstillr

Which is fine if you were looking to double your share of investment I suppose

 

[ian]

Question (probably for AdamH), Gstillr has a significant number of SELL positions on EURUSD, most of which have the same profit take point. Why would you have multiple positions, is it because he continues to feel the product will drop, so adding more money in, or because it is a fancy trick to get more 'copy members' into the product so he makes more commission?

 

[scooter]

Doh!!! Thanks for this. I did not do me homework very well then

But I think i will leave as is for a few days.

 

[scooter]

Anyone else up and running and "copying"?

I have changed mine:
Gstillr $100
CatSoir $100
kovandap $100
onlybyme $100
Venomt09 $50
RedSkoul $50

Only 2 trading (so far).
onlybyme
Gstillr
(CatSoir) is a clone of Gstillr. (Thank you for letting me know MikeJDS)

Good fun to watch. It goes up and down by a few dollars like a yoyo.
Currently sitting at +$6.18 but neither trader has "sold" so no official profit.

I also see some traders will buy and hold for quite a few days before selling.


.

 

[MikeJDS]

Looks like you had some action this morning.
Your doubling up strategy has paid off so far.
They had a sell off.

I'm copying one of the accounts, but obviously the currency market is very high risk and fast changing.
So won't be spending more than I can afford to go up in flames.

Good luck all.

 

[ian]

I've been copying Gstillr on a small amount, but he's a high risk investor who puts multiple trades on a single currency and leaves them running for a long time to boost his success percentage, so as you say, profit it only there when he sells. I've taken a slightly different approach and sold out most of his positions at 200%, though only on a small amount so I'm about $20 up in actual profit. I've limited my exposure to Gstillr though as he strategy is very risky...I hope he has a good feel for when sentiment changes.

Enjoying it so far.

 

[murph]

I've got a few quid on a copy... Always wanted to get into forex trading!

 

[scooter]

$31.05 profit :-D


High risk:
I hope they know what they are doing too!

I agree though, only invest what you can afford to lose.

 

[MikeJDS]

Nice one Scooter

I'm at $43.31 profit overall since yesterday.
Expecting a lot of drops and losses along the way, but it's alot of fun.
It seems like a great trading platform. But will take me a little while to get fully to grips with.

Question that AdamH might know the answer to..

I noticed on Gstillr's wall that a few people are posting that they are losing money while copying him even though he is making trades at a profit.

Could this simply be the entry point (time) at which they started copying?
Or are there other reasons to look out for. Like settings on eToro when you copy someone?
I also noticed he mentions a $100 min copy. Would this affect this also?

Cheers
Mike

 

[ian]

Mike, yes, it is entry point. So for example if gstillr has an open trade at 200% profit, but after someone copies him and his open trade, the position drops by 50%, gstillr still has 150% but the new copier has -50%.

Haven't quite got to grips with the proportion copied based on amount. I think for $100, you get the same proportionate amount as they invest, so if they invest $100 of a $1000 pot on a single position, then you will invest $10 of your $100 allocated to the, if that makes sense...may be wrong though!

I'm enjoying it, but find the control panel incredibly slow and unreliable, with trade data showing late and often wrong.

I'm up $20 but only put a tiny amount in.

 

[MikeJDS]

Mike, yes, it is entry point. So for example if gstillr has an open trade at 200% profit, but after someone copies him and his open trade, the position drops by 50%, gstillr still has 150% but the new copier has -50%.

Yep thanks - I also noticed he's holding on to his longer positions.
I suppose anyone coming in now wouldn't benefit from the sale of those?
Or would they?

Haven't quite got to grips with the proportion copied based on amount. I think for $100, you get the same proportionate amount as they invest, so if they invest $100 of a $1000 pot on a single position, then you will invest $10 of your $100 allocated to the, if that makes sense...may be wrong though!

Seems to work something like that.
Haven't got to grips with it either yet

I'm enjoying it, but find the control panel incredibly slow and unreliable, with trade data showing late and often wrong.

I'm up $20 but only put a tiny amount in.

I haven't noticed any issues with speed.
Where are you comparing the trade data with?

 

[ian]

Yep thanks - I also noticed he's holding on to his longer positions.
I suppose anyone coming in now wouldn't benefit from the sale of those?
Or would they?

No, they will only gain (or lose) from the position when they enter the game, otherwise you'd have everyone putting thousands of pounds in to instantly gain profits of 200%, or in some instances, 2000%!!!!

I haven't noticed any issues with speed.
Where are you comparing the trade data with?

Probably just mine then, slow Internet! The data doesn't always seem to match the sales, or is delayed, so hard to follow at times, but probably just needs experience.

 

[scooter]

When you go to copy someone, there is a little box preticked that states "copy open trades" (or something like that.) Untick before continuing and you will start with new trades only.

Money,
Yes, it is whatever percentage of their funds they trade, the same percentage you trade.

 

[MikeJDS]

Aha I thought I must have missed something. Thanks.

I'm going to have to go slow on this.. Alot to learn and take in.
Good tho.

 

[ian]

It seems that Gstillr is high risk, but on very small amounts (usually 1-2% of his trading fund), where as kovandap is medium/low risk, taking small percentages, but on a larger amount of his fund, usually around 15%. That is what I'm seeing anyway.

Anyone else going to sign up, wouldn't mind the additional $100 for referring, as I did for AdamH, http://etoro.tw/1xg0IeG

 

[scooter]

Huge learning curve if you are going to start trading yourself. I'm just not interested in that.

This is why I like this so much. It has to be easier (hopefully) to make a little money by copying consistently successful traders than taking a punt yourself.

Time will tell though. I too, am liking it.


I haven't a feckin clue what they are really doing but it looks great on me monitor when you open the "trading" screen and the Mrs walks by. :lol:

Makes me feel all City Slicker like :lol:

 

[MikeJDS]

Haha
That pretty much sums it up for me also.

I don't really understand the Forex market.
Also want to avoid too many US tech. stocks. Not a huge fan of those.
Looking out for someone who's trading the UK market to add to my portfolio.

 

[accelerator]

For anyone interested in trading, the Keiser Report on Russia Today (Freeview) is worth a watch. As is Bloomberg TV.

Rgds

 

[scooter]

Anyone interested can take a look at my account here:
https://openbook.etoro.com/scooter499/overview/

If you hover over "portfolio" you can select to see current live trades or closed ones.

The only thing it does not show you is monetary value. My earned profit is $32.32

However, at time of writing this my live trades stand at -$27.49
So I hope all these red lives will turn green soon.