eToro Trading Thread
Discussion
I haven't been impressed with any as yet. I'll do a quick daily round up but would probably be best to do these at end of week.
Maria - is up to her usual antics. Currently has about 20 open losing trades, she's stolen a few points on some trades today but it's insignificant. Strangely the P&L hasn't moved much since last night.
noasnoas - no trades yet, I don't expect much on a day-to-day basis as she trades less frequently.
Maxxizlt - closed a trade today for a profit. Has 2 open trades atm, not a for huge size in a reasonable loss. Account showing -0.5% for day which is nothing.
Gstillr - Still hanging on to those losses, 4 losing trades open. He's traded for a few points today but again it is nothing of substance. -13% on account.
FCInvestment - 1 trade, 1 small profit. Nothing exciting but a perfect start
BestTraders - seems to have put me in a lot of positions. Trades both directions which is a bit weird. I just noticed I have both long and short trades on the same pair! How utterly stupid. Account currently in small profit.
ChrisLawlor - Still hanging on to those trades, the loss is growing. Lost about 10% on this trade.
4exPirate - nothing interesting, still losing a little. Not sure why the guy has so many followers.
So as yet, I see no path to endless riches
Maria - is up to her usual antics. Currently has about 20 open losing trades, she's stolen a few points on some trades today but it's insignificant. Strangely the P&L hasn't moved much since last night.
noasnoas - no trades yet, I don't expect much on a day-to-day basis as she trades less frequently.
Maxxizlt - closed a trade today for a profit. Has 2 open trades atm, not a for huge size in a reasonable loss. Account showing -0.5% for day which is nothing.
Gstillr - Still hanging on to those losses, 4 losing trades open. He's traded for a few points today but again it is nothing of substance. -13% on account.
FCInvestment - 1 trade, 1 small profit. Nothing exciting but a perfect start
BestTraders - seems to have put me in a lot of positions. Trades both directions which is a bit weird. I just noticed I have both long and short trades on the same pair! How utterly stupid. Account currently in small profit.
ChrisLawlor - Still hanging on to those trades, the loss is growing. Lost about 10% on this trade.
4exPirate - nothing interesting, still losing a little. Not sure why the guy has so many followers.
So as yet, I see no path to endless riches
So had a quick look at the platform, whilst it's an interesting concept I'm not convinced your going to get serious traders joining up. Seems the site is geared up to beginners which then begs the question do you really want to be following these people?
Not arguing that you won't make some money following someone. But the platform sucks!
I'm pretty sure I didn't even see a single chart, seemed more like a betting site.
I don't know about the fx side how competitive the spreads are etc but on the stock side seems they only execute orders once a day
I know you guys aren't taking it too seriously but will be interesting to see if there are any significant gains in the longterm.
Not arguing that you won't make some money following someone. But the platform sucks!
I'm pretty sure I didn't even see a single chart, seemed more like a betting site.
I don't know about the fx side how competitive the spreads are etc but on the stock side seems they only execute orders once a day
I know you guys aren't taking it too seriously but will be interesting to see if there are any significant gains in the longterm.
twinturboz said:
So had a quick look at the platform, whilst it's an interesting concept I'm not convinced your going to get serious traders joining up. Seems the site is geared up to beginners which then begs the question do you really want to be following these people?
Not arguing that you won't make some money following someone. But the platform sucks!
I'm pretty sure I didn't even see a single chart, seemed more like a betting site.
I don't know about the fx side how competitive the spreads are etc but on the stock side seems they only execute orders once a day
I know you guys aren't taking it too seriously but will be interesting to see if there are any significant gains in the longterm.
I am inclined to agree that no decent traders are going to mess around with the relatively small change involved with getting followers. However, out of all the numerous people on there, there must be an anomaly who is able to be profitable for a space of time. Be it months, a year. The skill would be in knowing when to walk away from them. Not arguing that you won't make some money following someone. But the platform sucks!
I'm pretty sure I didn't even see a single chart, seemed more like a betting site.
I don't know about the fx side how competitive the spreads are etc but on the stock side seems they only execute orders once a day
I know you guys aren't taking it too seriously but will be interesting to see if there are any significant gains in the longterm.
The platform isn't exactly very nice and the FX spreads are not competitive. Eur/Usd is about 3 pts and it should be around 1 or less on some platforms. You can get charts (although it wasn't seeming to work in Chrome but I opened them in IE) - charts are located in the top half of screen to the left of the instrument is a chart sign and if you click on it a pop-up will open the chart. But for the exercise of copying someone I don't need to do anything and for all we know the trader may use a different platform for charting and just execute via eToro.
I don't expect anything amazing long term and I find the % gain listed on their site very misleading and confusing. Hence me being unwilling to commit a penny at this point in time to 'invest' in any of the people on the site which I have come across so far.
Is there a scam in that you can get followers by fooling them into admiring your profit chart but hiding your losses by not cashing them in thus you end up making money from followers who follow with live money but lose overall. Have a lot of fool-lowers and you make money even if you're actually losing?
Oh that's definitely the case. You see some people who have 100% winning trades and an equity curve which goes up nicely.
Then you look at the open trades and see they're sitting on massive losses from over a year ago. But anyone who takes a minute will see the open trades. A fool and his money.....
Even worse though, you can see the number of people copying - but I believe the people on dummy account are also part of this number. So you don't know how many people are copying with real money and with dummy. If you have the time (& I know some of these people do) you can just create multiple accounts, copy yourself and inflate your copy figures. Thus drawing in real copiers who will make you a bit of money.
Then you look at the open trades and see they're sitting on massive losses from over a year ago. But anyone who takes a minute will see the open trades. A fool and his money.....
Even worse though, you can see the number of people copying - but I believe the people on dummy account are also part of this number. So you don't know how many people are copying with real money and with dummy. If you have the time (& I know some of these people do) you can just create multiple accounts, copy yourself and inflate your copy figures. Thus drawing in real copiers who will make you a bit of money.
I like the idea of a competition just because anything which gets more interest and data in here is a good thing. But if one wants to win, then doing nothing or following an infrequent trader may be the best strategy as a win may result by default of having the lowest losses!
So I would like to stipulate (were a competition to happen) that people have to follow a minimum amount of people. Just because in the real world one is told not to put their eggs in one basket and copying one trader may not be the wisest strategy.
I was considering doing real money after this week, but I just don't have anything much to go by.
Quick short update. I actually have some profit from people! Maria is a liability - I wouldn't trust her, that's just a bit of fun.
MaxxizLT - +3% ROI
FCInvestment - +2.5% ROI
BestTraders - got up to +2.2% ROI and now about +0.6% ROI with some open positions
4ExPirate - finally showing a very small profit.
noasnoas - my longer term trader has finally put a trade on, sell eur/usd. Small loss and it looks like she's trying to take 35 points so this isn't exactly a long term position.
The rest I am following Chris & Gstillr are still in losses and not impressing me.
So I would like to stipulate (were a competition to happen) that people have to follow a minimum amount of people. Just because in the real world one is told not to put their eggs in one basket and copying one trader may not be the wisest strategy.
I was considering doing real money after this week, but I just don't have anything much to go by.
Quick short update. I actually have some profit from people! Maria is a liability - I wouldn't trust her, that's just a bit of fun.
MaxxizLT - +3% ROI
FCInvestment - +2.5% ROI
BestTraders - got up to +2.2% ROI and now about +0.6% ROI with some open positions
4ExPirate - finally showing a very small profit.
noasnoas - my longer term trader has finally put a trade on, sell eur/usd. Small loss and it looks like she's trying to take 35 points so this isn't exactly a long term position.
The rest I am following Chris & Gstillr are still in losses and not impressing me.
Remember coming across something called motif investement a while back sounded like a better idea but can't remember if it was open to Uk residents.
Shame Etoro's stock set up is more or less non existent I'd have had a go just for a laugh see if you really can earn the supposedly $10000 a month from followers.
Shame Etoro's stock set up is more or less non existent I'd have had a go just for a laugh see if you really can earn the supposedly $10000 a month from followers.
dom9 said:
But that's the fun! Play to win! Long term or short term! Pick 1 person, make 10,000% and get out after a day!
I think half the interest would be watching each of our strategies!
Hah will it get to a point where everyone just copies the leader, can just see it now one person has a bad day and the lot of us lose. I think half the interest would be watching each of our strategies!
twinturboz said:
Hah will it get to a point where everyone just copies the leader, can just see it now one person has a bad day and the lot of us lose.
But a week before the end, everyone will break rank as who wants to come equal first? This is the interesting bit... Anyone who is playing to win won't do that and you can't win if you do as you'll be equal to everyone else!
I'm up for it!
twinturboz said:
Remember coming across something called motif investement a while back sounded like a better idea but can't remember if it was open to Uk residents.
Shame Etoro's stock set up is more or less non existent I'd have had a go just for a laugh see if you really can earn the supposedly $10000 a month from followers.
I've seen these sites: Zulutrade & Currensee as alternatives. But I recall one had a very high minimum investment and there's no guarantee whether they are actually any good. Shame Etoro's stock set up is more or less non existent I'd have had a go just for a laugh see if you really can earn the supposedly $10000 a month from followers.
It may be worth having a go just for a laugh. But one misleading thing is the # of copiers only tells half the story. Dummy copiers (such as myself) are included in the figure and may make the trader appear more popular than they are. If I was trying to do it, i'd probably set up some fake accounts and inflate my figures just to get more copiers.
sjn2004 said:
When you trade on etoro is the trade external or internal? If they are internal (market maker) I doubt you'd ever make a profit.
I looked on etoro and some had >300% returns, why not follow them or are they leaving their loses open?
Those % figures are generally wrong. Firstly they are calculated a different method - it's not actual ROI of account. Secondly, they are probably hiding gaping losses in open positions. If you post some examples, then we can take a look. I looked on etoro and some had >300% returns, why not follow them or are they leaving their loses open?
It seems Maria & Gstillr got severely burnt with the US news. If you're trading for real money i'd seriously stay away from these 2. They're fking liabilites!
If I was playing to win, i'd probably just do nothing! Then i'd take a look towards the end and see what is required. But for the intents and purposes of this thread, i'm not trying to beat people. Just seeing if there's anyone decent to follow to make me money while I sit at work.
And we have our first victim! I realised I am no longer copying ChrisLawlor, I had a look through my account history and it looks like he ran into my 50% copy stop loss.
The guy is totally clueless and the trades aren't even his. Says it all really, i'm not sure why someone would copy him vs the person he's pulling the trades from.
Gstillr is next in the drop zone, currently about $130 from getting cut.
The guy is totally clueless and the trades aren't even his. Says it all really, i'm not sure why someone would copy him vs the person he's pulling the trades from.
Gstillr is next in the drop zone, currently about $130 from getting cut.
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