I invested £1000 (pounds) in December on EToro. So far I am pleased to have made a $30 (dollars) profit.
Despite this my Equity is down £6. Can anyone help me understand why?
This sounds like a question that is more appropriate for eToro support. You and eToro are the only ones with direct access to your account details.
If I understand correctly you are in green paips and your equity is less than when you started.
This used to happen to me regularly when I would scalp with a small lot size say .01Q and and scale in a lot of trades very quickly. Even with great spreads and green pips it is very easy to lose equity due to the brokerage fees. In order for this to work where I trade you need a 97% or better win-loss ratio. I can do low ninities but not high.
Just a thought.
My resolution was not to trade for less than 5 pips and moved from a 1M to a 5M chart and drop my win-loss to 85%-90%