eToro Trading Thread
Discussion
As the title says - a thread to discuss trading on eToro. It's been around for a while, but i'm pretty new to it. I always thought that copying a trader's trades is a bit like admitting failure and I am sceptical that a successful trader would bother doing such a thing. But instead of trading currencies/indices it's just trading people and trading does take screen time which those who have a profession can't commit. eToro have a dummy account option and I have selected a few traders to monitor and then evaluate whether I may want to chuck a few £ in that direction if I believe it to be worthwhile.
If some others do research and follow some other traders then in time we'll be able to compare performances / experiences and everyone can benefit from the additional information. Unlike most things in trading, this isn't a zero-sum thing.
From my brief looking around here are some things to look out for when considering copying a trader:
- Open positions - see if the Trader is sitting on losing open positions which have been running for a substantial time.
- Win rate - if you see a 100% win rate or something exceptionally high then you may want to check the open positions and what sort of profit they have been taking.
- Losses - Losses are good - it shows a trader is willing to save your account rather than try to maintain a 100% win rate figure. You just need to see the scale of losses and how they compare to the size of profits.
- Leverage - low leverage is better. It will depend on your risk profile but it's not optimal to take higher leverage and have someone lose you 50% of your account in a day. You can be on the other side of this of course and profit - it may make sense for small money initially but one wouldn't want to commit much to essentially a gamble.
- Frequency of trades - the larger the sample you work with, the more comfort you can take that they're not a one-hit wonder. There is a very real possibility that a trader may have done badly for their first 100 trades, then the market turned and what they now do seems to work. You just have to realise when it's no longer working and pause copying or get out to re-evaluate.
- Length of trade time - If you're looking for someone with low leverage, then it's no good if they trade once every 10 days. They might take sizeable profits but your ROI is going to be lower than someone churning the trades on a daily basis.
- Equity curve - A bit of a no-brainer but an upward equity curve is what you should be after. A gradual climb upwards with no extreme peaks or dips. Ensure they haven't been sitting on losing open positions and check their average trade length.
That's a few things off the top of my head. So I am on dummy account - I have been prudent and not committed any money to this yet (just putting this out there)
I have 'invested' in 3 traders so far: Maria421, ChrisLawlor, 4exPirate - Maria and the pirate are in the popular list I believe. I have allocated 10% of my account to each of them. I put a stop loss of about 50% on them, but in reality, depending on the trader I may allow a 30% drawdown before stopping and reconsidering. Maybe in time through people's experiences i'll see what's applicable.
Maria421 - 1 week followed +57% ROI - It's a good ROI, too high though. It's on the gambling territory and she's a serial trader. I currently have 17 open positions with her and i'm not sure what her strategy is - some trades she'll take for a few points, her position sizing is a bit random. She kept buying as the pair dropped. It turned around and I am in big profit today. If it kept going down? What's her plan? I'm not sure and that worries me. If following her, a stop loss is essential. The fact that she opens so many positions is scary and then if the market gaps you could end up losing more than your account easily. I did post some criticism on her page and she deleted in under a minute. Her wall is very edited, so be aware of all these sparkling reviews.
ChrisLawlor - I have followed him for about 3 days +1.7% currently - I have had about 3 trades from him so far. I like that he uses low leverage and he has 23% losing trades which is actually a good thing in my opinion. Time will tell if he's worth copying but I would feel safer having him look after a larger amount than Maria.
4exPirate - 1 week followed -1.4% - One trade taken, one loss. He seems to be followed by a lot of people and the loss is on the comfortable side. Need more data to see how he performs in time.
There's some overall strategy things I have been considering. Investing in a number of people to start with is just obvious. However, your sizing isn't. You may wish to start with uniform amounts and then reallocate money to the top performers. Alternatively, investing in a high leverage trader and then moving the gains to someone lower risk could be an option. I'll get to this in time but I realise this is a long post already.
Obviously any information in this thread is to be taken at one's own discretion and there is the possibility that losses can be incurred and in some cases greater than the initial investment so be careful/DYOR yada yada.
If some others do research and follow some other traders then in time we'll be able to compare performances / experiences and everyone can benefit from the additional information. Unlike most things in trading, this isn't a zero-sum thing.
From my brief looking around here are some things to look out for when considering copying a trader:
- Open positions - see if the Trader is sitting on losing open positions which have been running for a substantial time.
- Win rate - if you see a 100% win rate or something exceptionally high then you may want to check the open positions and what sort of profit they have been taking.
- Losses - Losses are good - it shows a trader is willing to save your account rather than try to maintain a 100% win rate figure. You just need to see the scale of losses and how they compare to the size of profits.
- Leverage - low leverage is better. It will depend on your risk profile but it's not optimal to take higher leverage and have someone lose you 50% of your account in a day. You can be on the other side of this of course and profit - it may make sense for small money initially but one wouldn't want to commit much to essentially a gamble.
- Frequency of trades - the larger the sample you work with, the more comfort you can take that they're not a one-hit wonder. There is a very real possibility that a trader may have done badly for their first 100 trades, then the market turned and what they now do seems to work. You just have to realise when it's no longer working and pause copying or get out to re-evaluate.
- Length of trade time - If you're looking for someone with low leverage, then it's no good if they trade once every 10 days. They might take sizeable profits but your ROI is going to be lower than someone churning the trades on a daily basis.
- Equity curve - A bit of a no-brainer but an upward equity curve is what you should be after. A gradual climb upwards with no extreme peaks or dips. Ensure they haven't been sitting on losing open positions and check their average trade length.
That's a few things off the top of my head. So I am on dummy account - I have been prudent and not committed any money to this yet (just putting this out there)
I have 'invested' in 3 traders so far: Maria421, ChrisLawlor, 4exPirate - Maria and the pirate are in the popular list I believe. I have allocated 10% of my account to each of them. I put a stop loss of about 50% on them, but in reality, depending on the trader I may allow a 30% drawdown before stopping and reconsidering. Maybe in time through people's experiences i'll see what's applicable.
Maria421 - 1 week followed +57% ROI - It's a good ROI, too high though. It's on the gambling territory and she's a serial trader. I currently have 17 open positions with her and i'm not sure what her strategy is - some trades she'll take for a few points, her position sizing is a bit random. She kept buying as the pair dropped. It turned around and I am in big profit today. If it kept going down? What's her plan? I'm not sure and that worries me. If following her, a stop loss is essential. The fact that she opens so many positions is scary and then if the market gaps you could end up losing more than your account easily. I did post some criticism on her page and she deleted in under a minute. Her wall is very edited, so be aware of all these sparkling reviews.
ChrisLawlor - I have followed him for about 3 days +1.7% currently - I have had about 3 trades from him so far. I like that he uses low leverage and he has 23% losing trades which is actually a good thing in my opinion. Time will tell if he's worth copying but I would feel safer having him look after a larger amount than Maria.
4exPirate - 1 week followed -1.4% - One trade taken, one loss. He seems to be followed by a lot of people and the loss is on the comfortable side. Need more data to see how he performs in time.
There's some overall strategy things I have been considering. Investing in a number of people to start with is just obvious. However, your sizing isn't. You may wish to start with uniform amounts and then reallocate money to the top performers. Alternatively, investing in a high leverage trader and then moving the gains to someone lower risk could be an option. I'll get to this in time but I realise this is a long post already.
Obviously any information in this thread is to be taken at one's own discretion and there is the possibility that losses can be incurred and in some cases greater than the initial investment so be careful/DYOR yada yada.
Edited by g4ry13 on Friday 3rd October 23:12
Pesty said:
.When you say stop loss 50% what do you mean?
When you get the option to copy a trader you can set a stop loss. Either via % or a monetary sum. It will essentially limit your losses to that amount. Let's say you have $100 allocated to a trader and you allocate a 50% stop loss. The most this trader will lose you is $50 and then they won't be able to take any more trades for you. It's just a way of limiting your exposure. I believe it works this way when you copy a trader but haven't put it to the test yet!
It may be worth checking out the help section for some other questions you may have. Such as how to unfollow/pause copying a trader.
Here's a section on the copy stop loss if you scroll down.
Edited by g4ry13 on Saturday 4th October 11:16
OtherBusiness said:
New to etoro too but been copying this person for a week for EURUSD trades
https://openbook.etoro.com/m/gstillr/overview/
I checked him out. I looked at open trades and saw he had one open from a month ago, but then saw it's hugely in profit. He has some losses (a good thing in my book) , small average trade size, doesn't seem to hold trades for too long, nice looking graph (although I wouldn't base a decision on a graph alone) , he's taken reasonable sized profits and from the losses I can see they're not massive. https://openbook.etoro.com/m/gstillr/overview/
So i'm actually rather impressed and going to follow him on my dummy account. I've followed him with $1,000, 50% stop loss. I'll evaluate stop loss sizes in time. I think i'll monitor my current people for the next week and then if there's something there i'll put a few £ in their direction.
What were your results / experience of him for the week?
Hoofy said:
I would follow someone for at least 100 trades to make sure they're not on a lucky streak.
100 trades is nothing. There's nothing special about an arbitrary figure. This Maria person has probably put me in about 50 trades over the last week. She'll hit 100 trades by the end of next week I should imagine and I may very well be no better off for knowing whether she's good or lucky. Whereas a position trader who may trade on a weekly or even monthly basis may make <30 trades in a year. So you have to follow them for over 3 years to get to 100 trades.
OtherBusiness said:
The main issue for me is finding anyone decent to follow. As I expect you know, lots leave losing positions open so they are not included in their stats, and therefore look better than they are. Also, must remember to tick the box to not open new positions on open trades for anyone that you start to follow.
That is why it is important you check their open positions prior to following them. Right....I noticed something about one of the guys I was copying - ChrisLawlor, I was singing his praises about how he seemed to be good. I noticed he's just copying some other guy's trades, that is all he's doing. Nothing very impressive there. I'm not sure how his sizing compares but I may as well follow the other guy if I were so inclined.
I referred to Leverage in the original post, but there's a caveat. Small leverage is only half the story. There are some who put low leverage trades on, but then enter into a stupid number of trades so you actually end up with a rather large position. You may not see this from their records which is why I recommend following them on a dummy account before committing money so you can keep an eye on the sorts of things they get up to.
Last night Maria the nutcase gambler woman had a very decent profit on the trade but she was opting to run it. I personally would have taken the money off the table but for the purposes of this I can't interfere with it in order to assess how she would manage things. The market seems to have moved about 40 points back about wiping about 14% of my account value out. That's far too much for a long term trading thing. Looking at a picture of the woman does not inspire confidence (but I don't think analysing pictures is an objective measure for this experiment).
Maria - 18 open positions, she has opened and closed 2 today nicking a few points. I had a big profit on the trades but now it looks neutral. Account $1362 = 36% ROI - still impressive but she's a punter.
ChrisLawlor - 2 open trades, he's copying some guy. Both in sizeable losses. Lost 2.5% of account on the trade. Account now $991 so currently -0.9% ROI which isn't awful I suppose. Was previously about +1.7%
Gstillr - I think OtherBusiness recommended him. I had a lot of hope for this guy as he looked good. I can't work out what he's been doing - something with the stop losses. Either way, he has me in 2 trades atm. Both losing, Account is -4.3%. It's his first trade for me and I suppose being short Eur/Usd is never bad in theory. But we will see...
4exPirate - nothing very exciting. Not sure yet why people follow this guy. 1 small trade currently, 1 small loss. Account ROI: -0.3%
So bottom line: early days but Maria is a gambler, you can have a good run with her or lose 20%+ of an account in a day with her. I wouldn't put much into her. Early days with the others, but I wouldn't follow ChrisLawlor out of principle as he's just replicating the other person's trades. I will look into following some more people over the next few days before deciding if this has any legs.
Maria has lost even more money. She has a $300 minimum requirement to copy her. I wouldn't trust her with £10! Also she seems to clean up her wall really fast. I posted a critical comment and it was gone in under a minute. She's really sneaky about what is being displayed, it all looks like sparkling praise and gratitude but it's highly filtered.
On the dummy account I have now done the following.
- $1,000 to copy BestTraders (Ehsan Alborzi) - He's standing by some crappy looking convertible so he must be successful
He has a lot of followers (not that it means much) , a nice looking equity curve, has taken about 20% losses, smallish average trade size, trades on a regular basis and doesn't have any open positions from a long time ago. I have allocated a 50% copy stop loss to him.
- $1,000 to copy MaxxizLT (Regis Pierre Massicard) - He's wearing glasses and doesn't look totally gormless
- He has about 24% losses over the last year. A high frequency of trades. Small average trade size, although he does seem to hold on average for 6 days. Some of his losses from the last 3 months are a bit alarming, but I will trial him and see how it goes. Again a 50% stop loss.
- $1,000 to copy FCInvestment - i'm going to do something different here, he's actually a high leverage trader. Seems rather popular and some of my low leverage aren't exactly producing anything notable to look at as yet. He has about 20% losing trades, no open positions atm. 50% stop loss.
- $1,000 to copy Noa Strijbos - she's a bit of a longer term trader. Her history shows some decent sized profits on her positions. She doesn't trade so often and there's not a lot to base it on but the equity curve looks nice and as her win % is far greater than her loss and the losses aren't massive in size. Not quite about her position sizing but i'll find out on the dummy. 50% stop loss.
That leaves me with $2,000 to invest in some people. I'll see how the above and my current ones go and then look into if there's any success stories or any type of trader which especially has some degree of success.
- $1,000 to copy BestTraders (Ehsan Alborzi) - He's standing by some crappy looking convertible so he must be successful
He has a lot of followers (not that it means much) , a nice looking equity curve, has taken about 20% losses, smallish average trade size, trades on a regular basis and doesn't have any open positions from a long time ago. I have allocated a 50% copy stop loss to him. - $1,000 to copy MaxxizLT (Regis Pierre Massicard) - He's wearing glasses and doesn't look totally gormless
- He has about 24% losses over the last year. A high frequency of trades. Small average trade size, although he does seem to hold on average for 6 days. Some of his losses from the last 3 months are a bit alarming, but I will trial him and see how it goes. Again a 50% stop loss. - $1,000 to copy FCInvestment - i'm going to do something different here, he's actually a high leverage trader. Seems rather popular and some of my low leverage aren't exactly producing anything notable to look at as yet. He has about 20% losing trades, no open positions atm. 50% stop loss.
- $1,000 to copy Noa Strijbos - she's a bit of a longer term trader. Her history shows some decent sized profits on her positions. She doesn't trade so often and there's not a lot to base it on but the equity curve looks nice and as her win % is far greater than her loss and the losses aren't massive in size. Not quite about her position sizing but i'll find out on the dummy. 50% stop loss.
That leaves me with $2,000 to invest in some people. I'll see how the above and my current ones go and then look into if there's any success stories or any type of trader which especially has some degree of success.
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
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.
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.
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 f
king 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.
I think it was Pesty who mentioned Maria, 4exPirate and some Jorge guy - but these people are on the most copied lists. I didn't like what I saw about Jorge so left him off.
Here's Maria - she is no looker at all. She looks rather dim-witted tbh: https://openbook.etoro.com/maria421/overview/
But then I started setting some of my own criteria. I went for some low leverage traders - but then realised some low leverage people end up with about 10 open positions making it high leverage.
I chose some from the frequent traders list - I had a quick scan through the list. I first looked for some equity curves which looked reasonable and then looked for any funny business in open positions. I took a look at win:loss % and the size of wins vs size of losses. Then thought I would follow to see how it really works out.
I chose from manual list too. I am just trying to find something which may actually work.
You can have a look at the people using this link.
Here's Maria - she is no looker at all. She looks rather dim-witted tbh: https://openbook.etoro.com/maria421/overview/
But then I started setting some of my own criteria. I went for some low leverage traders - but then realised some low leverage people end up with about 10 open positions making it high leverage.
I chose some from the frequent traders list - I had a quick scan through the list. I first looked for some equity curves which looked reasonable and then looked for any funny business in open positions. I took a look at win:loss % and the size of wins vs size of losses. Then thought I would follow to see how it really works out.
I chose from manual list too. I am just trying to find something which may actually work.
You can have a look at the people using this link.
sjn2004 said:
g4ry13 said:
I think it was Pesty who mentioned Maria, 4exPirate and some Jorge guy - but these people are on the most copied lists. I didn't like what I saw about Jorge so left him off.
Here's Maria - she is no looker at all. She looks rather dim-witted tbh: https://openbook.etoro.com/maria421/overview/
But then I started setting some of my own criteria. I went for some low leverage traders - but then realised some low leverage people end up with about 10 open positions making it high leverage.
I chose some from the frequent traders list - I had a quick scan through the list. I first looked for some equity curves which looked reasonable and then looked for any funny business in open positions. I took a look at win:loss % and the size of wins vs size of losses. Then thought I would follow to see how it really works out.
I chose from manual list too. I am just trying to find something which may actually work.
You can have a look at the people using this link.
According to that link she's had a ROI of 362% in 90 days??? Looked in her open trades and all were red around 50%.Here's Maria - she is no looker at all. She looks rather dim-witted tbh: https://openbook.etoro.com/maria421/overview/
But then I started setting some of my own criteria. I went for some low leverage traders - but then realised some low leverage people end up with about 10 open positions making it high leverage.
I chose some from the frequent traders list - I had a quick scan through the list. I first looked for some equity curves which looked reasonable and then looked for any funny business in open positions. I took a look at win:loss % and the size of wins vs size of losses. Then thought I would follow to see how it really works out.
I chose from manual list too. I am just trying to find something which may actually work.
You can have a look at the people using this link.
Those percentages you see in her open trades are meaningless, she's not losing 50% of an account in numerous trades. But I think it was last friday I ended the week about +56% ROI with her. But she was greedy and held over weekend and bought more as her profit slipped away over sunday night/monday morning. Although my concern last week was the swings are too large for sustainable trading, a gain of that % really shouldn't be happening unless an outlier event occurs.
So here's the weekly round up of week 2:
- I hit my copy stop loss with Gstillr. I had some high hopes for him, but he blew through 50% of my account and I no longer copy him. The same goes for ChrisLawlor.
- Maria - started the week +55% on account. She stupidly held the profits which turned negative and went from +55% to about -30% on account. She's an utter liability and scary. The account has recovered a little and looking at about -1.5%. She's left a load of positions on for the weekend.
- noasnoas - one of my new traders which I copied this week. She didn't do too much but lost me 0.2% on the account so far.
- MaxxizLT - Another new addition this week to my bunch. So far he's a success story and i'm +4% with him. It was a bit of a slow start with him but today has been good for him. We'll see how he fares over time.
- 4ExPirate - Nothing very exciting to report +0.3%
- FCInvestment - Another new addition this week. He was up a few % earlier in the week, now currently about -3% overall.
- BestTraders - Also a new addition. Was up about 1% this week, now losing 10% overall.
Nothing especially exciting as yet, but these markets have been challenging (I won't make excuses for these people because some traders must have been making a killing out of it and there's no reason they shouldn't have).
I started the account with $10,000. I have invested in 8 (8x$1,000) of which I got stopped out from 2 of them. So down to 6. Equity at time of writing is $9100 give or take a few $. So that's a -9% ROI. Or to be fair, -11.25% as I only really 'invested' $8000.
- I hit my copy stop loss with Gstillr. I had some high hopes for him, but he blew through 50% of my account and I no longer copy him. The same goes for ChrisLawlor.
- Maria - started the week +55% on account. She stupidly held the profits which turned negative and went from +55% to about -30% on account. She's an utter liability and scary. The account has recovered a little and looking at about -1.5%. She's left a load of positions on for the weekend.
- noasnoas - one of my new traders which I copied this week. She didn't do too much but lost me 0.2% on the account so far.
- MaxxizLT - Another new addition this week to my bunch. So far he's a success story and i'm +4% with him. It was a bit of a slow start with him but today has been good for him. We'll see how he fares over time.
- 4ExPirate - Nothing very exciting to report +0.3%
- FCInvestment - Another new addition this week. He was up a few % earlier in the week, now currently about -3% overall.
- BestTraders - Also a new addition. Was up about 1% this week, now losing 10% overall.
Nothing especially exciting as yet, but these markets have been challenging (I won't make excuses for these people because some traders must have been making a killing out of it and there's no reason they shouldn't have).
I started the account with $10,000. I have invested in 8 (8x$1,000) of which I got stopped out from 2 of them. So down to 6. Equity at time of writing is $9100 give or take a few $. So that's a -9% ROI. Or to be fair, -11.25% as I only really 'invested' $8000.
It would seem Gstillr went on a big losing rampage, lost his copiers a lot of money and has written an explanation and apologised to people.
4 out of 6 of my traders have small profits overall. The largest being about 3% ROI on account. I'll go through it at end of the week. Maria seems to have closed a lot of her positions and there's some negative comments on her wall which wouldn't have stayed up in the past. She has one position open and overall about -27% ROI on account. She is clueless.
4 out of 6 of my traders have small profits overall. The largest being about 3% ROI on account. I'll go through it at end of the week. Maria seems to have closed a lot of her positions and there's some negative comments on her wall which wouldn't have stayed up in the past. She has one position open and overall about -27% ROI on account. She is clueless.
Time for a weekly roundup. The end of week 3. I'm starting to think this is a bit of a silly task but these are also tough market conditions and i'll just check it a bit less often. There's still a little bit of trading left but here's a run-down.
Noasnoas - Hard to lose money if you don't trade. She hasn't done much but overall it's +1% ROi.
MaxxizLT - He was one of the better ones, +3% earlier in the week. Now -5% overall, so an 8% equity swing in a day. That just isn't really right or what should be happening, the magnitude is too big. He has some sizeable losing positions open with no apparent strategy. I'm looking at some of those trades he made and they were just awful taking into consideration a few things.
Maria - She's awful, she ended up closing all her losing positions. I think she blamed her internet or something like that. She became very unpopular and whilst she was away the negative comments came out. But she tidied up her wall after. -30% overall. She's scaled back to one position and it's a sizeable loss too. Slowly losing her copiers.
FCInvestment - Was up a few % on the week, currently breaking even.
BestTraders - Same story as FCInvestment, currently -0.5% overall.
4exPirate - He's one of the rather popular people on the site. I'm not sure why, i'm yet to see anything impressive. Not especially active lately but +0.3% on account.
So nothing exciting this week. I don't know if it's a testament to break even in this market and I should be impressed. Having low equity swings and at least breaking even is probably something admirable. I may go on the hunt for some new people soon. Not sure if anyone else has any prospects or still considering this any more.
Noasnoas - Hard to lose money if you don't trade. She hasn't done much but overall it's +1% ROi.
MaxxizLT - He was one of the better ones, +3% earlier in the week. Now -5% overall, so an 8% equity swing in a day. That just isn't really right or what should be happening, the magnitude is too big. He has some sizeable losing positions open with no apparent strategy. I'm looking at some of those trades he made and they were just awful taking into consideration a few things.
Maria - She's awful, she ended up closing all her losing positions. I think she blamed her internet or something like that. She became very unpopular and whilst she was away the negative comments came out. But she tidied up her wall after. -30% overall. She's scaled back to one position and it's a sizeable loss too. Slowly losing her copiers.
FCInvestment - Was up a few % on the week, currently breaking even.
BestTraders - Same story as FCInvestment, currently -0.5% overall.
4exPirate - He's one of the rather popular people on the site. I'm not sure why, i'm yet to see anything impressive. Not especially active lately but +0.3% on account.
So nothing exciting this week. I don't know if it's a testament to break even in this market and I should be impressed. Having low equity swings and at least breaking even is probably something admirable. I may go on the hunt for some new people soon. Not sure if anyone else has any prospects or still considering this any more.
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