Hello Guys,
can you advise on this, am trying to start investing in etoro but the truth is i dont know what i am doing but want to start copying people there with low risk and decent ROI.
is this a good advise or just a waste of money
etoro and copying people
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Wolfie
- Totally Pro
- Karma: 61
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Re: etoro and copying people
Copying other people trades means you are just depending on luck. It is better to start studying, especially macro, because it plays an important role even in individual stocks or assets. A easy path if you are planning for the long run you can just invest in S&P500 or Bitcoin.
- jagas
- To become a Pro
- Karma: 11
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arbusers
- Administrator
- Contact:
- Karma: 626
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Re: etoro and copying people
I would avoid copying other's people transactions. I have a personal experience with that and I lost a lot of money back in the days.
The FX platforms are advertising heavily this feature, because they want to lure gamblers and losers. Imagine the following...someone is arbing using 2 accounts. There are thousands of people like this globally. He has a winning streak in platform A and a losing streak in platform B. The only think you notice, is the impeccable winning streak. When you start following him, destruction struck.
The FX platforms are advertising heavily this feature, because they want to lure gamblers and losers. Imagine the following...someone is arbing using 2 accounts. There are thousands of people like this globally. He has a winning streak in platform A and a losing streak in platform B. The only think you notice, is the impeccable winning streak. When you start following him, destruction struck.
- marco-vb
- Gaining experience
- Karma: 3
Post
Re: etoro and copying people
Etoro has positive and negative aspects.
For example negative are:
- main currency is USD so you have to consider the fact there is volatily between your currency and USD (if you want to start on etoro you should deposit several times to average the dollar change, but this is my suggestion). Of course if you have euro in your country and you deposit now with the 1,16 rate, if in 1 month it will be 1,1 it was better to deposit all the amount at the 1,16 rate, but if it will be 1,21 this will lower your "change losses".
- (little negative aspect) when you copy someone you copy his positions, at the % he has been allocated to a product so you will reply the same on your account (with a part of money you decide to use). But stats between you and him are different at first times and the syncro isn't quickly (not a big damage because if you copy someone you should let the copytrade open for months, otherwise is useless in my opinion).
Positive:
- popular investor (I'm one of them) try do their best, because only if they have good results they can reach monthly payment and followers. So you cant' compare copytrading or trader to gambler, because a gambler/bettor is playing with his money and noone knows what he is doing, a trader plays with his money and if he want to have success on the platform, has to do his best because everything is clear on a profile.
- you don't have to spend time on the platform, other will work for you so you don't have to control every hour/day, is a passive income and you have only to wait a certain periodo to value by yourself if results are enough for you or not.
So in conclusion we are on a arb forum, if someone talk with us about betting his vision is totally bad because he doesn't know the whole world of sportbetting, at the same time it's impossible to talk bad about copytrading. If you know how it's work you can say something about it, otherwise it's better not waste words.
Sorry for my english, but i'm at work and I've been stopped 10 times during this post
For example negative are:
- main currency is USD so you have to consider the fact there is volatily between your currency and USD (if you want to start on etoro you should deposit several times to average the dollar change, but this is my suggestion). Of course if you have euro in your country and you deposit now with the 1,16 rate, if in 1 month it will be 1,1 it was better to deposit all the amount at the 1,16 rate, but if it will be 1,21 this will lower your "change losses".
- (little negative aspect) when you copy someone you copy his positions, at the % he has been allocated to a product so you will reply the same on your account (with a part of money you decide to use). But stats between you and him are different at first times and the syncro isn't quickly (not a big damage because if you copy someone you should let the copytrade open for months, otherwise is useless in my opinion).
Positive:
- popular investor (I'm one of them) try do their best, because only if they have good results they can reach monthly payment and followers. So you cant' compare copytrading or trader to gambler, because a gambler/bettor is playing with his money and noone knows what he is doing, a trader plays with his money and if he want to have success on the platform, has to do his best because everything is clear on a profile.
- you don't have to spend time on the platform, other will work for you so you don't have to control every hour/day, is a passive income and you have only to wait a certain periodo to value by yourself if results are enough for you or not.
So in conclusion we are on a arb forum, if someone talk with us about betting his vision is totally bad because he doesn't know the whole world of sportbetting, at the same time it's impossible to talk bad about copytrading. If you know how it's work you can say something about it, otherwise it's better not waste words.
Sorry for my english, but i'm at work and I've been stopped 10 times during this post
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