I’m a newbie in the world of forex, I have lot to learn in here thanks to this website :).
What do you think about social trading etoro?
Teach a man to fish…
I follow this fórum but I don’t participate that much because I’m new in the forex and I don’t think my experience could help a lot of people. I learn for me, I’m not yet in the point of teach something to someone. I’m replying to this post because is related to something that I “experienced” just a few days ago.
When I discovered about trading one of the first google searches lead me to etoro and the social trading. At first seemed a great idea, copying someone with a lot more experience than me and make some profits from them. I created a demo account and started to copy some of the supposed best traders on etoro.
During last week, I watched a team of traders blowing 5 accounts and along with their accounts a thousands of accounts from copiers.
Never deposited my money on etoro, and never copied someone with real money, only on demo. Since day one to today, I have studied, I have read a lot of books, and I have praticed with demo accounts. Today I trade by myself and I’m not rich but I’m profitable until now.
Be carefull when you trust your money to others, they will say they are allways profitable, they do trade for years without closing red trades and they will allways have a explanation for what they are doing and if we don’t know what they are talking about we will trust.
There are no easy ways to make money, not in trading nor anywhere, take your time, study, learn more and more and then make a informed decision.
eToro is actually very bad broker to go with. They make them “famous” for this social trading app, but they lack quality traders in there so you only lose there. Idea of copying trades is not that bad, but you have to find perfect traders with long history and some sustainable profit. All those 100%+ in few weeks are scams mostly using martingale. Try different brokers with MT4 as this also have this copy traders feature and shows their stats… you can test and try, but better try with just small amount of money. Past results are not guarantee of future profits.
What do you mean ??