eToro - anyone using it?

[MikeJDS]

My plan at start of next week...

At this stage - I'm looking for people who seem to perform well in each of the markets.
My "strategy" at the moment is to try and get a good spread, so still looking for someone else doing well in Stocks.

catsoir (clone of Gstllr) - 100% Currencies

ChrisElding - 100% Stocks (UK / US shares)

Santosh Tiwari - Currencies / Commodities

Johannes Burri - Indices


My Account name is: wapsuup
Give me a follow & I'll follow back.

I've got room for one more copy to add..
So thought it would be good & fun to pick the "Top Performing Acorner".
That way someone earns a COPY. (I think they earn a bonus for that too on eToro?)

Would be good if others would post up their accounts too, like Scooter did also.
That way we could all collaborate together easier and learn a bit from each other.
Help each other spot people to copy etc.

Good luck everyone.

 

[ian]

kovandap and Gstillr for me. If Gstillr continues to perform well, I'll add clone account catsoir to double up, or try to copy the trades myself with larger amounts.

Would like another couple though from other markets, so will take a look at those you mentioned.

 

[MikeJDS]

Seems like a plan

I can see where you & Scooter are coming from on doubling up on Gstllr.
I may try that later, but want to try and build a bit more equity first.

Was following Kovandap but he didn't start trading.

 

[ian]

No, Kovandap is very careful with his trades, thinks more about them first and never gets greedy, always selling at 1.5%-5% profit, which on currency, can be within seconds (but equally can go the other way).

 

[scooter]

That way someone earns a COPY. (I think they earn a bonus for that too on eToro?)

In the help file it states you need a min of 10 consistent $100 copiers to start earning. It does not tell you what you earn though.

http://www.etoro.com/en/help/
2nd answer under "OpenBook Community" on the left hand side.

...........................


I'm going to be wreckless. I'm going to quadruple on Gstllr

I thought I had arlready copied "shadshukoor". Seems not. I have to wait until the markets open.

Markets open 21.30 Sunday night
http://www.etoro.com/en/customer-service/market-hours/


My line up on Sunday night will be all currency. (playing with fire, I know)

Gstllr
CatSoir (copying Gstllr)
shadshukoor (copying Gstllr + CatSoir)
kovandap
onlybyme
xanthones ($50)


MikeJDS...
I think you are doing it the right way and spreading your bets. I'm off to look at your peoples form.



Good luck everyone!
Our first full week of trading/copying




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[MikeJDS]

Yeah that's for the "Popular Investor Program".

Just managed to dig it up again, finding the site navigation a bit awkward at times..

EDIT* Thanks for pointing out the market hours. I would have missed that and assumed Monday morning.

 

[ian]

I'd suggest copying me, but I'll end up doing something stupid and losing it all, plus there is no chance I'll be funding it more, just hoping to work with what I have already.

 

[MikeJDS]

I won't be funding mine anymore either.
This will be a one-time flutter.

The bonus was just something I spotted that I thought some may be interested in.

I'm guessing a few in this thread may take it a bit more seriously than I or some others do.
We are all going to play it differently and that's what makes it interesting.
A good mix of styles and attitudes would be great.

If anyone has any knowledge of stocks I'd be interested in hearing any tips mentioned also.

 

[scooter]

Don't copy me! I'm on a suicide mission. I could get wiped out in a day.

I too will not be funding again.

 

[ian]

Does anyone understand placing orders on currency? I cannot work out why a 'risk level' of high x400 only requires me to assign $10, yet a low risk at x10 requires me to assign $400? The help section is pants, doesn't make any sense what so ever. Glad at the moment I'm only copying others, but wanted to have a flutter with the spare funds by copying manually!

 

[scooter]

I do not have a clue. You might be better asking one of the traders you are copying. They all seem pretty helpful.

 

[Adam H]

Does anyone understand placing orders on currency? I cannot work out why a 'risk level' of high x400 only requires me to assign $10, yet a low risk at x10 requires me to assign $400? The help section is pants, doesn't make any sense what so ever. Glad at the moment I'm only copying others, but wanted to have a flutter with the spare funds by copying manually!

Risk levels give you the ranges of which your Tack profit and stop loss are set.

For example if you look at the Ger30 indices, its currently sitting at Buy 9539 , now with indices because they are more unpredictable your risk level highest is x100.

The ger30 can move considerably in though out the day gaining or lossing more than 100 points a number of times, now if you have your risk level set at x100 and you take the lowest amount buy in which is $90 then your stop loss will only be set at 9468, this means if the Ger30 drops below that point you've lost you money.

If however you set your risk lower to say x25 instead of x100 then you can afford Ger30 to go down to 9255 before you lose your investment, that bigger margin allows the index to go up and down with lower risk of losing.

But playing at lower risk obviously comes at a price, you also dont earn as much as quickly, so at a higher risk if the index goes up by 20 points, you will earn more in those 20 points than you would at a lower risk.

I would HIGHLY recommend you play low or mid risk until you understand how much an index moves, every index is different and has different spreads.

 

[scooter]

Copy Stop Loss:
I still don't fully understand this.

Lets say I copy for $100 and I set copy stop loss at 50%
If the trader trades a total of $10 (be it a single or multiple trades) and it goes bad.....

-100 %
I lose just the $10?

-150% The $10 has gone and it also eats in to the other $90?

- 500% copy stop loss kicks in. I lose $50 and that is it?


Or am I completely off the mark here?
Getting a bit paranoid with my kamikaze current love for Gstllr



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[Adam H]

Ive never copied anyone so im not entirely sure if it works in the same way, but if you set a stop loss of 50% , i would assume that you have set it so that you would only ever lose 50% of the position.

If you dont set a stop loss, and the trader loses his whole position then you would lose your copied trade too.

I "think" but not sure that if you ever feel a bit edgy about someone your copying and you think maybe they are holding a green for too long and are getting greedy then you can always close the position with a Green percentage you are happy with. Same goes for if they are losing ( red ), if you feel its getting into deep then you can close it at a small loss rather than waiting it out and potentially losing more.

 

[ian]

Thanks Adam, I kind of get what you are saying about the risk levels, but what I don't understand is why you have to pay more initially on the low risk, versus high. I sense it is something to do with the broker lending more than you put in, so assume the risk comes from you potentially losing it quicker! Still seems strange, would have thought the investment amount is the same, just the amount of ticks up or down that influences it!

scooter - my understanding on a stop loss for a copy is x% of the traded amount at that time. I've set mine to 75%, so any trade which fails, and reaches that level of loss, it will sell. Obviously if each trade is a tiny amount, you might be comfortable with 100% loss, but I'm playing it safe.

 

[scooter]

Thanks. I have had all traders set at 50% since Thursday. I just want to make sure I am doing right.

As the (hopefully) profit rises, I will adjust the stop loss to a higher percentage.

My trades don't feel quite so suicidal now.

 

[Adam H]

Thanks Adam, I kind of get what you are saying about the risk levels, but what I don't understand is why you have to pay more initially on the low risk, versus high.

Yeah basically because for such low risk factor / leverage if you was to put down a small amount, the returns simply wouldnt be enough when spread over such as vast point ratio.

This should explain a bit more : http://www.etoro.com/en/trading-academy/leverage-margin/

 

[MikeJDS]

Regarding the "Copy Stop Loss".

I think that say you set a copy stop loss at 50%.
If the total open trades of that person lose 50% of their value it's activated.

All I think it means is .. At that moment all that happens is you stop copying that person - I don't think it closes any of the open trades.
So you could still keep losing on those.

This is where I think we may have to be careful when copying.
Because anytime you detach yourself from that person by pausing etc.
The trades could be missed or are left open and in YOUR control.

That's my understanding of it anyway.
I could be wrong!!!
Haven't seen it in action yet.

 

[scooter]

All I think it means is .. At that moment all that happens is you stop copying that person - I don't think it closes any of the open trades.
So you could still keep losing on those.

Thanks. This also makes sense. You are still exposed to the live ones until the trader closes.

I see quite a few traders that have trades still live that are a year old. It would be a bummer getting locked in to a few of those if it was a sizeable chunk of our money.




Because anytime you detach yourself from that person by pausing etc.
The trades could be missed or are left open and in YOUR control.

ah, now I see what you were trying to tell me when I was pissed

I don't think anything is left in our control. Ever.
I paused on "RedSkoul" and all the trades already live still finished.

I think the only difference between pausing and cancelling is cancelling deletes the trader completely from your portfolio. (but all live trades still conclude)
Pausing leaves the trader there to resume as and when you want.



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[scooter]

I just read this on Gstllr's wall

If u want to close all manually to take profit, stop copying him. You can always enable copy again after that. That's the only way u can take profit out into your account

Looks like cancelling also makes you instantly trade out on their copies???


Also this:
No, you don't need to stop copying Gary. You can close the position(s) manually in the Webtrader.
So we have the power to close any copies ourselves at anytime.



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