eToro - anyone using it?

[scooter]

Like Murph, i'm taking a poundiing at the moment.

Had $560
Currently sitting at $410 with -$140 in live trades at the moment. :shock:




.

 

[MikeJDS]

All went belly up for me.

Found it fun anyway.

 

[scooter]

I was too greedy, put all my eggs in one basket (UER/USD) and took a kicking for it over the last 2 days.

 

[murph]

Decided to try my own trading luck today as I saw the EUR usd plunging! Made myself $154 in a few hours! Starting to think forget copying, just listen to events that will impact, wait for the start of the movement and buy in! Good fun.

 

[PoshTiger]

How's everyone got on with this?

I was going to stick $1k in tonight and copy a few traders..

 

[ian]

I got bored of it, realised you still have to spend quite a bit of time on it and ultimately gambled it all away because I just didn't have the time. If you are going to sign up, make sure you use a referral link in this thread to get $50, but not mine!

 

[Adam H]

Id go very carefully at the moment, i said a couple of weeks ago people should be careful because the markets are volatile at the moment, that volatility has only got worse since then so putting your money in other peoples hands ( copying ) isnt something id do at the moment.

 

[murph]

Yep as Adam said, be cautious especially copying! I've lost fair bit through reckless trades by some of the top copied traders. My latest tactic is to set an order up for the extremes of the movement and watch for the big events. Be prepared to pull the plug if it goes against you. I tend to set my SLs quite shallow.

 

[scooter]

+1 for AdamH and murph's comments

I'm down to $210
First week was easy money. The last 2 have been a complete roller coaster. All traders with "good" rep are getting severely burnt and with them are the copiers.

Truth is, no-one seems to know what way EURUSD is going from day to day. (or the other main currency markets)

I don't know about the other markets. stocks, oil etc.

 

[martin-s]

Anyone who actively manages their own SIPP will be feeling the pain over the past few weeks.

I can't help but think that investing on a short term basis is just gambling.

 

[murph]

I watched a forex video the other day and the guy makes just one trade every day at 7gmt. The eur usd usually goes one way or the other and he sets 50pips as his TP and SL. Wins 4/5 every week and makes a decent living if it!!

 

[accelerator]

Truth is, no-one seems to know what way EURUSD is going from day to day. (or the other main currency markets)

I don't know about the other markets. stocks, oil etc.

If I was an investment beginner (which I'm not) there is absolutely no way I would start off in Forex trading. As you say, it is very difficult to predict where any exchange rate is going, and that's why you need to put in a lot of work and have a lot of ability, particularly in chart analysis, and good knowledge of how macro economic events can affect currency charts, in order to have any chance of making any money.

If you're a beginner I would be looking at careful investments in blue chip stocks with high dividend yields and a stable future, rather than attempting to dive into Forex, but each to their own. Be very careful.

Rgds

 

[ian]

Forex is essentially a gamble until you have another data to analyse. In basic terms, just like putting all your money on red or black! Fortunately I withdrew what I deposited after a successful first week then gambled away what was left; quickly went from hero to zero in literally seconds! Just glad I lost nothing.

 

[bonusmedia]

There's a reason the forex business is very profitable for operators and affiliates, and why forex operators attend the same conferences gambling operators do...

For those interested in high risk, long-term investments:
https://www.seedrs.com/join?promo_code=QKID2LDR *

It's good fun and has given me a lot of insight into startups that's useful elsewhere.

Between Seedrs, Crowdcube and private deals I have a small piece of 47 startups now. 3 have failed so far, but I expect at least half to fail sooner or later.

A few are doing very nicely indeed, and with tech startups you only need one or two... With a well diversified portfolio, theoretically it's a better return than just about anything else.

If anyone wants more info let me know

*That's a referral link that will earn me a cut of your investment in year 1

 

[accelerator]

For those interested in high risk, long-term investments:
https://www.seedrs.com/join?promo_code=QKID2LDR *

It's good fun and has given me a lot of insight into startups that's useful elsewhere.

Between Seedrs, Crowdcube and private deals I have a small piece of 47 startups now. 3 have failed so far, but I expect at least half to fail sooner or later.

A few are doing very nicely indeed, and with tech startups you only need one or two... With a well diversified portfolio, theoretically it's a better return than just about anything else.

Thanks for the info.