eToro - anyone using it?

[ian]

Anyone using eToro for 'social' investing in shares/currency etc? Would welcome some thoughts on how you've done. Also, if anyone would like to 'recommend' me so we both get a signing bonus, drop me a PM.

 

[timter51]

Oh that looks interesting... when Ian's sorted, if anyone can invite me as well please shoot me a PM

 

[tifosi]

Same here, was mentioned in the other thread - http://www.acorndomains.co.uk/general-board/128930-forex-program-last-night.html. Had a look last night. Looks interesting

If it's done right one person can be the inviter and get an 'inviters' pot we can all play with and we get the $50s

AdamH mentioned it, so if he's the inviter and get's 10 of us reprobates to sign up...

S

 

[Adam H]

Yeah i can invite anyone , if anyone wants to give it a go PM me your email address and ill invite you all

 

[chrisduggan]

Signed up ages ago but have never really looked into it properly.

 

[scooter]

I signed up yesterday. Copied 5 traders on "virtual" money. They all did ok so today I whapped $500 in and have placed $100 on the 5 traders. Looking forward to see what happens long term.

I really like the idea of this. I have no knowledge on trading but the great thing is you don't need any. The "art" is doing your homework on the traders.

Time will tell. Will keep you posted




.

 

[Adam H]

I signed up yesterday. Copied 5 traders on "virtual" money. They all did ok so today I whapped $500 in and have placed $100 on the 5 traders. Looking forward to see what happens long term.

I really like the idea of this. I have no knowledge on trading but the great thing is you don't need any. The "art" is doing your homework on the traders.

Time will tell. Will keep you posted

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Ill post up the names of the most reliable traders to copy later ( i dont copy myself, prefer to execute trades manually but because it being social you can use the social aspect of paying attention to what the good traders do and then make informed decisions of your own. )

Any one starting to trade should also bookmark the economic calender and make it their bible, the calender announcements can cause volatility and give insights of when to be careful. Although the calender and the charts cant tell you about World events thats when the human aspect of trading comes in ( paying attention to the news channels etc and working out if that news can cause issues with your strategy )

http://uk.investing.com/economic-calendar/

 

[Adam H]

Anyone wanting to sign up instead of me inviting you , you can click here which does the same thing and links you as myfriend

http://etoro.tw/1DzVpZ9

 

[ian]

Have you had any success from it AdamH, I hear conflicting information that suggests the most successful traders (who many follow or copy) have skewed figures. Also that copy trades aren't always processed at the same time, so you might not end up with the same result (maybe better, most likely worse).

 

[Adam H]

Have you had any success from it AdamH, I hear conflicting information that suggests the most successful traders (who many follow or copy) have skewed figures. Also that copy trades aren't always processed at the same time, so you might not end up with the same result (maybe better, most likely worse).

I first deposited with $250 , got up to 5k and then took a big risk which failed and lost it all but only took 3 weeks to build up. Since then i swapped platforms so i could use the MT4 software rather than relying on Etoro's graphs .

I personally wouldnt copy anyone ( only follow if i like their trades so i can manually copy ), but only because i want to develop my own strategy and learn the ropes properly etc. You do have to be careful if you copy, alot of the top "statistical" traders on etoro end up blowing their accounts because they scalp constantly and then when something major happens they blow their account. most of the time because they keep extending their SL on losing trades instead of cutting out for a small loss and retaining their capital.

As with anything , just be careful and dont get carried away. If needed use the practice panels until you understand it.

I normally use 100 - 400 leverage but if your starting out start with low leverage so it gives you alot better scope to get out with small loss.

Many of the "top traders" trade with small amounts of money so although their stats are good they earn next to nothing, but then on the other hand there are some which earn a fortune.

 

[Adam H]

Some of you might find this article interesting , it focuses on Money management which is key to surviving :

http://www.trade-forex-harmonic-patterns.com/forex-money-management.html

 

[ian]

Interesting stuff, might dip my toe in the water, though after losing a considerable amount on oil shares, I will only put a small amount in and see how it goes. kovandap seems to have good returns with steady low percentage profits, not sure if you can take a look Adam and see what you think?

Also, for anyone interested, it states if you are copying others, you can only commit 20% of your money to them...however, if your account balance is less than $250, it can be 100% on a single copy if you want.

 

[Adam H]

Interesting stuff, might dip my toe in the water, though after losing a considerable amount on oil shares, I will only put a small amount in and see how it goes. kovandap seems to have good returns with steady low percentage profits, not sure if you can take a look Adam and see what you think?

Also, for anyone interested, it states if you are copying others, you can only commit 20% of your money to them...however, if your account balance is less than $250, it can be 100% on a single copy if you want.

Yeah Oil isnt something i get involved with although i speak to a guy that puts alot in oil and he's not had a good month lol.

Kovandap seems like he plays it safe and takes profit pretty much as soon as it hits the green instead of getting greedy.

A couple of guys who i follows are jodylloyd77 , FCInvestment and DavidHarrison, their stats on Etoro dont look great but those 3 guys actually know what they are talking about so its good to use what they do as an insight but obviously weight up what they do against your own opinion.

 

[tifosi]

The AcornDomains Investment Club!

 

[ian]

Is it correct that trades are not instant on eToro? So basically any trades you do in the 'practise' mode which are instant wouldn't actually be the same in the real mode, i.e. you'd have to wait for the position to be closed in the evening after submitting the request?

 

[Adam H]

Forex trades should be pretty instant, same as in practice mod, stocks however are executed at certain times a day :

http://www.etoro.com/blog/etoro-voice/26042013/trading-stocks-in-etoro/

http://www.etoro.com/en/customer-service/cfd-trading/

But all forex trades i.e currency, indices and commodities are all instant.

 

[scooter]

These are the five I am copying:

CatSoir
AlexMKong
Gstillr
kovandap
onlybyme

 

[Adam H]

These are the five I am copying:

CatSoir
AlexMKong
Gstillr
kovandap
onlybyme

I follow Onlybyme, leads to some good insight for DAX occasionally

 

[ian]

These are the five I am copying:

CatSoir
AlexMKong
Gstillr
kovandap
onlybyme

You will have to let us know how they go.

 

[scooter]

Will do.

Funny thing is i am not normally a gambling man. Never in a bookies, never play slots in the amusements or anything like that but this I do like the look of.

Will not pump any more money in. $500 is me limit. I also have zero interest in learning to take a punt myself. I am far too lazy for that



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