Top traders on etoro
The CopyFund launch created huge interest in early Or in the event of financial issues with the firm. The consumer protection is far greater than at the majority of binary options brokers, and means UK investors can use the firm with absolute confidence.
The eToro website is available 24 hours a day, but particular assets will only be available to trade when the market is open for that asset. Traders need to select the price they are happy to trade at, and orders will be filled once the market is open and the price set is available.
Finding traders to copy is simple, but does require some time and research in order to find the right trader for you.
From the Copy Trader screen, users are presented with a number of filters in order to narrow their search. It is important not to be drawn in immediately by a huge short term profit figure. One profitable trade may have masked 2 or 3 years of losses. Risk score is explained in detail in a separate FAQ below. Once a few candidates have been shortlisted, each can be clicked on to get a view of their past performance. Profits are broken down per month — this gives a great overview of consistency.
Regular monthly profit is, of course, desirable — but the odd negative month is not a show stopper. Users need to determine what they are looking for in a trader.
So there is no right or wrong answer in who to copy, it will be down to the individual — but the more time invested in the decision of who to copy, the more likely that a user will find the right trader. The eToro trading platform is fairly simple and intuitive, but it is worth running through how to open a trade. Firstly, find the asset to be traded. This can be done via a personal watchlist, or a brand new search.
This will open a list of popular assets. Use the filters to find the asset of interest. Once found there are a number of way to open a position. The additional data includes the price chart, and also the feed — so traders can see what others have to say on that asset. With the trader ticket open, traders need to enter the amount they wish to invest, and then set the stop loss, leverage and take profit levels.
The eToro risk score is a measure of market exposure that eToro give to each trader. The number is between 1 and 10, where 1 is very low risk, and 10 is very high risk. The firm calculate this number via a number of measures. For example, they will consider whether the portfolio is diversified, whether the instruments and assets being traded are particularly volatile or not and most importantly, the levels of leverage and equity being used.
So for example, if a trader has their entire portfolio invested in three trades, all forex pairs including the US dollar, and all in the same direction, with the highest possible leverage — eToro will give them a high risk score. The overnight fees will also vary. Overnight fees are not applied unless leverage has been used. So calculating an accurate fee per trade might be quite difficult, particularly if the length of time the position will be open is unknown.
Generally the spread and costs will amount to 0. They also apply a fee on dormant accounts. An account is deemed dormant where it is not used for 12 months. Open positions will not be closed in order to pay this fee. Copying traders is a key feature at eToro. It enables traders without the time or knowledge to copy the trades of successful eToro users.
Here we explain how to copy traders on eToro. Firstly, find the Copy People option on the user menu on the left of the screen. This opens up the copy area. Along the top of this screen are a number of filters. Each can be set to help users identify the traders they want to copy. Further down the page, eToro will list certain traders based on current short term performance, those getting copied the most, or those with a particular risk profile.
Figures are broken down by month, and go back for as long as the trader has been making trades. Long term, consistent profit is a good sign. Users can also see the current portfolio. This shows if the trader is active and what current positions are open and could therefore be copied straight away.
Users will then need to confirm they understand that eToro will open and close trades on their behalf once they confirm the intention to copy a trade. There is then one final step — but the most important. The final copy screen confirms the size of the investment the user wants to invest with this trader.
The screen will confirm the average size of investment, based on the amount set by the user. Those copying need to know exactly how large their investments might be. But their prices were high and I was getting a little more serious about it. I love the platform, the whole experience, and the interface is fantastic. I really like the concept of being able to watch and copy other traders, and I value the community-driven aspect of eToro, which is the main distinguishing feature for me.
I say to a lot of people: That helps me a lot. When I started I would usually take a longer position of around three to six months. Nowadays I have a very split approach. I use Bitcoin for day-trading and with tech stocks I look mid to long term. I probably spend on average two or three hours a day on eToro now. I started it as a bit of a hobby, just using some inheritance money and placing small trades.
But now I see it as a good additional income on top of my main job, helping me accumulate wealth at an early age. The Popular Investor programme helps me earn extra money for being good at what I love doing — online trading. The more people copy me the better. And the beauty of eToro is that you can progress — you can start with little or no knowledge and learn from others as you go. But I always write down the reasons why I make a particular trade and the rationale for my strategy.
It helps you check your original thinking. You have to stay true to your beliefs and recall why you made a decision in the first place. I think it would be: Know your markets and trust in your own opinion. This article's tone or style may not reflect the encyclopedic tone used on Wikipedia. See Wikipedia's guide to writing better articles for suggestions. Retrieved 13 May Is It That Easy? Archived from the original on 23 March Retrieved 10 May Retrieved 27 March Retrieved 6 June