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etoro social trading - anyone using it?

  • 13-07-2013 1:49pm
    Registered Users Posts: 159 ✭✭ magooly

    Hi guys

    Is anyone is using etoro? - a web based social trading portal based in israel.

    The concept looks like a great entry into trading ie copy trader etc but I have my doubts - It seems too good to be true... Would be great to hear from people who are/have used it and their thoughts.



  • Registered Users Posts: 59 ✭✭✭ Pennystockwhiz

    These traders are segmented by their percentages of gains and winning ratio, which is how many of all positions opened or closed with profits. Once you see the numbers from the top trader you will want to join on the bandwagon of their successes. If we see someone we want to “Copy” we click on his or her profile and instantly see the club level starting date, chats and then click on stats we can see the entire trading behavior, performance stretch, success ratio and risk appetite. So now we have decided that this is the top trader we want to “Copy”. All we need to do is click Copy Trader” and decide the amount you want to dedicate to following him or her out of the entire equity in your account and no more than 20% per Copy Trader. All execution is done proportionally meaning that if you don’t dedicate $1000 copy a trader who has an account of $10,000 then if he will open a $1000 position you will do the same with a $100 position. This enables you not only to copy the direction but also the applied investment strategy.

  • Registered Users Posts: 1,793 ✭✭✭ Gandalph

    I have just signed up to this mobile app, looks interesting. I don't really want to copy anyone as that's not how I would like to trade but can someone offer some insight into how this app actually works? I mean it seems pretty shifty that all you have to do is sign up through your FB account and can start trading straight away, no forms to be filled etc. If you do make a profit can you just cash out? Who do they trade through?

  • Registered Users Posts: 1,272 ✭✭✭ theballz

    Looks interesting, I too would like to find out more about this.

  • Registered Users Posts: 1,032 ✭✭✭ manonboard

    Just to highlight a point that turned me away from it. The percentage gains are based on the traders portfolio but that portfolio is also given bonus money for the number of people copying them. This massively inflates the percentage values as the it can be used to manipulate easily. Esp for a small portfolio.

  • Registered Users Posts: 238 ✭✭ Fantomas9mm

    Not sure if I should bump this thread or start a new one .

    Anybody have any success with this ?

    Are there any good guides to follow that are objective that describes how to use it ?

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  • Registered Users Posts: 8,012 ✭✭✭ ironclaw

    From my research on the topic, but I'm not a member, its most beneficial as an addition to your tool box i.e. You've done the analysis and you're looking to validate it. If you don't understand the underlying technicalities, or the reason for a buy / sell, then its merely herd mentality and I'd view that as gambling.

  • Registered Users Posts: 218 ✭✭ super_sweeney

    looking to invest but cant find the stock i am looking for