Goosfraaba

I trade on Etoro. Seems good for beginners which I definitely am. Wish they had automatic trailing stops but apart from that it seems fine.

In terms of copying traders I have done so and am currently doing so. I'm honestly not sure about exactly what the trader gets and the site charges for the service. Will try and find out.

Positives

Traders generally do post comments fairly regularly and you can ask questions in a twitter style format.

You can Obviously check on their statistics and what they trade in what quantities, their risk/leveraging tendencies etc, and try and vary your 'portfolio' that way.

You can copy their trades on an account percentage basis meaning you can invest as little as $10 (if you don't mind making 1c and 2c profits). The spreads at these rates are also not more than 1c.

You can regain control of a specific trade at any time. If you want to close, extend stops etc etc, when you make a change, you regain complete control of the individual trade.

As a beginner, it does provide some insight into what other traders are doing in terms of entry and exit points etc.

Negatives

There have been some problems with the system. Some trades were copying upon opening but when the trader closed them they were staying open. Probably other bugs too. New systems will have them. Hopefully they're all sorted now.

The trader may get a % and the site may charge for the service in some way. As I said I will look into this.

The longest search history information on any trader is 1 year. Obviously anyone can have a good year. Would like a larger sample.

I agree with Tek that a lot (if not all) of these guys will blow up at some point. I'm simply not experienced enough to explain why but judging from what I've seen in terms of extending stops almost infinitely when a trade goes bad too maintain a higher 'winning %' it seems inevitable they will go busto.

Probably more negatives I can't think of right now.

I myself initially tried copying a couple of traders for small amounts just to see how it went. Pretty much all finished in profit however when the system started glitching I stopped copying. Have tried again recently, and problems seem to have been fixed. Currently copying 3 traders with varied styles and instruments. We'll see how it goes...

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zouze

so overall, how much is your monthly gain with etoro? initial account and leverage?...I mean how much can you make with a 10 bucks account? not closing trades is quite a problem - can bust your follower's account quite to the limit - and even if you stop/loss the trade and still goes on..unstable systems can bring you high profit it you can manage them correctly but it is risky overall.

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Goosfraaba

I finally got round to checking and there are no fees with Etoro for copying traders automatically other than the spreads. The traders being copied receive bonuses direct from Etoro based on the number of copiers they have.

In terms of monthly gain I am personally running at a loss so far inside my first year of trading. That's OK for me though and kind of what I expected as I learn.

In terms of the profit specifically from copying traders, I really couldn't say as I have only kept accurate records of my own trades and not the copied trades. What I can say is I'm confident I've definitely made profit from the copy trades.

Obviously if the amount you copy the trades for is small (like $10) you aren't making much, but in percentage terms all the profits have been quite good. e.g. currently copying one trader for $100 (initially $20) and in two weeks (approx 30-40 trades) now $110. The other two I am copying have made me $3 and $5 in the same time with the same amounts.

So far the system has been stable this time too so hopefully all bugs are fixed.

Thank

 

zouze

thank you for the detailed answer

So, if I got it correct you got about 110 usd for about 2 weeks for about 30-40 trades, correct? And this is only from following (or copying) not manual? seems quite low to me..is this results demo or live you are telling me...

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Goosfraaba

110 from 100 yes. so $10 profit over the time. I did start with $20, then $50 then $100 upping it every few days so it's not to say I was copying for $100 from the start. at only $20 the profit was obv smaller as it's done on a percentage basis.

Assuming I did have $100 from the start, over 2 weeks I don't think you could be unhappy with a %10 gain, and it would have been more had I actually started with that $100.

hope this makes sense.

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zouze

xexeexe i am trying to make sence

So if I put for example 1000 usd - how much I will get at the end of the month? 100 bucks? .....sorry to say but 10% roi can hardly cover even my transactions fees (you know withdrawals and all)...

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Goosfraaba

why wouldn't you just leave it for a few months? or copy multiple traders? I don't get how 10% is not good either. people invest in all sorts of things with less gain p.a.

also, this is only a two week sample so could be way off in either direction.

either way, that's my limited experience with it so far. real money account too.

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samuel23

Hi all, few week before i was myself on Etoro checking out the procedures and how it really work there. Well what actually interested me was the we can copy traders based on the level on profits they are doing and also you can see the stats of the players in term of ranking. I am following this thread and find some interesting comments. @ Zouze what do you think about this website, have you check it yet?

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zouze

i have checked it, even had an account with it...unfortunatelly all i managed to do is loose money and i was foolowing the top first ranked players.
i guess it's just not for me. ill stick to what i know best - zulutrade.

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Tekmnd

This is most likely "proprietary trading."
Basically, you put up some money, and the broker funds you the rest, and takes a percent of the cut if you make profit. However, your account can only lose up to the amount you put in (the broker will liquidate your positions once your share of the account is lost before the broker loses money). The advantage to this is that you can day trade stocks with about $5K, it usually comes with some training, and usually a good trading platform.

The downside is that there is usually an up front fee, and very few are successful at it.

Cheers
Tek

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