Hello boys and girls,
I am also new here and i am still busy with forex school.
I was wondering around the forum and found this article.
I have an account on Etoro, i have that account since the beginning of this year.
And i notice a lot of talk about scams or lazy traders on this tread so i thought i reply also.
In January of this year i opened an account on Etoro and deposited a small amount, now i am not rich nor do i have a lot of money to spare so it took me several months to deposit 700 dollars in total.
And i started copying.
Its a bit tricky to figure out who to copy at the beginning.
But luckily they created a tab on every ones profile called Portfolio.
Here you can see in what the trader is interested:
78.8% Currencies
11.6% Commodities
9.5% Indices
How many winning trades, losing trades over a period of 1 week, 1 month, 3 months, 6 months or a year.
Does he copy him/her self or is it an manual trader.
And there is always one message present : [B]Please note: past performance is no guarantee of future results.[/B]
Will i choose to follow this trader yes or no, thats up to me…
In this case i chose Yes!!!
If you wish to prevent lag then its advised to allocate at least $100, less and it can be that not all new positions are opened.
In the last 3 months this woman has earned 154.39 dollar for me.
This money stays allocated to her but i can “withdraw” (re allocate) it at any moment of every day even in weekends.
Now why do i do this trough Etoro, am i lazy… No… before i started the school on babypips i read 3 books about forex and after (i am nearly done with babypips school) i will (hopefully) keep reading and learning.
And in time after enough demo-trading i will use my $700 + everything else that i have gained from copying and start manual trading.
For me Etoro is the means to an end to get more startup money.
In the last 8 months copying has earned me $564.51, now this may not be much compared to most here but since i am still studying it doesn’t have to go fast.
I have time and patience !
For the “good” traders here.
Etoro has a Guru program, from what i understand is that u can apply to this and for every 50 copiers that allocate $100 or more to you, you get $500 a month from Etoro as a thank you or something.
With a maximum of $10 000 a month.
In my experience, no trader that i have copied in the last 8 months has EVER told his trading strategy.
And if i am correct it says in Junior college that even if this Guru trader would do it, i cant use it… because its His/Her strategy… Not mine!