eToro - anyone using it?

[scooter]

So far so good. "Gstillr" seems to be on fire.

Never thought it would be like this. I thought you would be making/losing a fiver or so daily. Seems not

Early days though and I know it could go the opposite way just as quickly.

 

[Adam HAdam H is verified member.]

Glad your enjoying it, i wasnt going to use etoro again so wasted my 2 bonus deposits but didnt have loads on today so got some decent trades in today.

 

[scooter]

It's quite addictive.

The most "Gstillr" has traded out of my $100 at any one time is $15 but he seems to come back with incredible percentages.

I started with $100 on him at lunchtime Wed. It now stands at $139

I wonder if the top performers end up getting head hunted for the city? Maybe they are city traders already and this is their hobby?

Who knows but I think etoro is a fantastic idea. The better they do, the more people copy them and the more they and the copiers earn.

Sharing the love.



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[murph]

Up $100!

 

[Retired_member41]

How do you get an invite? Can you place your own trades or is it just copying others?

Do the people you follow use your money to trade?

 

[scooter]

>How do you get an invite?
You can just sign up. However, I think if you go through an invite you get some free money.

ian-d started the thread. He stated as soon as 1 person signs up he will remove the invite so AdamH can get any others.

Here is his invite:
http://etoro.tw/1xg0IeG


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>Can you place your own trades or is it just copying others?
You can place your own trades. oil, shares, currency, etc.

I did a search for Tesco just to see if it was there and it was.


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Do the people you follow use your money to trade?
No. Only if you "copy" them. You can follow whoever you want to keep track of how successful they are and what they are trading on.

The minimum to "copy" is $50 ( I think)
The more successful are $100

You can only invest a max of 20% of your money on 1 person. This is why I started with $500 as I copied 5 people @ $100 each

Copying:
If a trader sticks 10% of their money on a trade, you mirror it. $10 of your $100 will be on that trade.

 

[scooter]

Sign up and have a look.
You do not need to spend any money. You can trade in "virtual" money on real traders doing real copies.

 

[MikeJDS]

I'm up $70

Next week I'm going to try a few things out in practice mode.
Want to get to grips with all the settings and experiment with permutations of trading some Forex (for fun)

I've been following my copied trades for most of the day and
trying to pick spots in the live charts, which become mesmerising.

Interested to see how it plays out with Gstiller.
Intrigued to see if he will spot/react to the inevitable upswing whenever it may come.
Then we will see how good he is

 

[scooter]

>experiment with permutations of trading some Forex (for fun)
:shock: You are a brave man!

>Interested to see how it plays out with Gstiller.
Intrigued to see if he will spot/react to the inevitable upswing whenever it may come.

This is the beauty of this system. If he starts to fail, others will outperform and it is time to copy them. Profits may not be as high but they can still (hopefully) be as consistent.

There are lots of consistent traders out there at the moment that are not trading currencies but currency seems to be the quickest profit earner.



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[MikeJDS]

>experiment with permutations of trading some Forex (for fun)
:shock: You are a brave man!
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You missed out the "practice mode" bit - I'm not that brass

This is the beauty of this system. If he starts to fail, others will outperform and it is time to copy them. Profits may not be as high but they can still (hopefully) be as consistent.

There are lots of consistent traders out there at the moment that are not trading currencies but currency seems to be the quickest profit earner.

Yeah I agree it opens up a lot more options which is why I like it too.
I'm trying to find good traders which cover different markets to get a good spread.
I'll then try and keep that spread but swap them if I find better performers.

I suppose though it's a lot slower in the other markets and patience plays more of a part.

BTW: There was a good program on last night about trading which briefly mentioned eToro.
Anyone else see it?

 

[scooter]

I'm seriously considering copying "shadshukoor"
They only copy Gstillr and CatSoir, so it is a way to quadruple any profits Gstillr delivers.

It will mean putting 60% of my eggs in the one basket but Gstillr (and carbon copy CatSoir) have brought in almost $80 of the $95 the last 2 days.

 

[MikeJDS]

Remember if you quadruple your chance of profits, you quadruple your chances of losses also.
It depends on how much risk you want to take.

But as you said earlier he only seems to take a small amount of the outlay anyway. ?????????????

 

[MurrayMurray is verified member.]

This all seems very interesting, I feel like I should try and learn about it but I don't like learning new things I'm quite lazy really

 

[scooter]

haha, that's me all over.

The only thing you have to do is spend the next 5 minutes reading the whole of this thread and you will see I am you

This is the beauty of etoro. You do not ever need any insight in to trading. You just need to look at who consistently delivers profit and copy their trades.

Murray, I know 5mins is a long time for a lazy person, but trust me, it is 5mins worth spending

 

[scooter]

Remember if you quadruple your chance of profits, you quadruple your chances of losses also.
It depends on how much risk you want to take.

But as you said earlier he only seems to take a small amount of the outlay anyway. ?????????????

I know but he seems to have a pretty impressive record over the last 2 yrs. Time will tell. I am on me 5th beer and its all over. shadshukoor has been copied

This is the one bit I do not understand yet....
Copy stop loss
How does this work???

If I set it to 50% does this mean the most I can lose is $50 out of my $100 copying this person, even though the original trade was only $15 ???



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[Retired_member41]

I've just spent 10 minutes buying shares. I guess the commodity ones that say waiting only come online when the markets open?

 

[MikeJDS]

This is the beauty of etoro. You do not ever need any insight in to trading. You just need to look at who consistently delivers profit and copy their trades.

Whilst it does appear to take some of the edge off I wouldn't say it's easy.
You are going to face some 'tough' decisions.

1. When Gstllr starts to lose it may not be easy to let him go?

How many days will you give him.. 1 bad day, 2 days? etc.
He will/does have bad days!

 

[MikeJDS]

This is the one bit I do not understand yet....
Copy stop loss
How does this work???

If I set it to 50% does this mean the most I can lose is $50 out of my $100 copying this person, even though the original trade was only $15 ???

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I think it just stops you copying any future trades.
The 50% is the trigger.

You can also pause copy anytime.

 

[MurrayMurray is verified member.]

Murray, I know 5mins is a long time for a lazy person, but trust me, it is 5mins worth spending

Just read the thread a couple of times and watched the video on the site so have a jist of what it's all about

At the moment I'm feeling like it all seems a gamble and if im going to gamble I might as well play online poker

 

[MikeJDS]

Interested to know what happens if you pause a copy and the person trades out.

That could leave you in control of the trade without knowing.
Which could be quite dangerous especially with an open Forex trade. !!

But will have to test that one out.

So much to learn