Short answer, do not leave the default copy open trades box checked. If he's in profit he'll most likely sell soon. If he's in loss, he may sell as a stop loss. Both scenerios mean you lose. Just uncheck so that future trades with most profit potential will be realized by you. Also if you're in crypto, set the copy loss at the minimum because wild swings can trigger the stop when you didn't want to exit.
so basically what you mean: in order to copy the whole portfolio of the trader, we should copy the open trade as well. But my question is, they entered the trade position at X dollar and say, when I copy the open position now, i might enter at a different price -> which means my profit will eventually be different from the trader I am copying??? Say, if we see that some of the stocks they bought (still in open trade status) are making a lot of money and the price is higher than average price right now (say Amzn stock) and we don't expect it to go up again but instead it may go down - it is better not to copy open trade right?
Thanks for explaining exactly what I didn't understand, and making it so clear. Just to say that I find it useful to click on the P/L(%) column to make the trades line up from most to least profitable, to get an idea where someone I might copy is in the cycle of profit and loss.
I was wondering how to see how much of your money invested was being used in trades. Thanks for this! Have been bingewatching your videos just to learn more. You are an awesome teacher!
Their copytrade feature can be made so much better. They should really provide an option to use some money to copy open trades and put in some money exclusively to copy future trades, not rebalance all trades based on future trades. This seems an obvious better system to me as it would allow real hands-off copytrading to people who don't wanna get much involved and want to auto-pilot their trading. I got into eToro because I thought copytrading was cool. Now after learning more about it and investing in general, I closed all my copy trades and reinvested the money for real crypto. In case of crypto, which is all that's available in eToro US, when you copytrade, you don't even actually own any crypto. All you can do is hope to close the copy at a profit someday. Makes no sense to use copytrade if you keep up with news at all and know what you are doing. I shouldn't need to sell all your crypto holdings to get any value out of it.
Is there any point hitting "copy open trades" if you can see they made most of their profits already from trades they opened a long time ago? As in, you already missed the boat and won't see as big profits from copying those trades too? Is it better to wait for him to open new trades so you can gain same % profits as him?
But what if you add money to the person you are allready copying. If The person you copy has 20 open trades in BTC for example and all are in the + and you add money with copy open trades it will retake those open positions to the date you add the extra funds and you loose all your profits you had over these 20 trades. Wouldn't it be advisable to don't use copy trades when you add extra money? When I added a 1000 dollars to one of the people I copy I lost a big chunk of my profits I had with that person. Plus my open positions got retaken so for the first few days my profits just went down, down, down.
Amazing content, been watching all your videos since the first one and will watch them all. You make it very easy to understand and point out very basic but very important questions that I believe all new traders think about. Here is one: if you copied a trader without copy open trades, and now you want to stop copying them, do you get you full money back if he/she didn’t use any of it?
Hi there - Thanks so much :) Yeah, if they didn't use the money, it should just be returned to your available balance when the copy closes. At least I think so! :) Try it on the virtual portfolio first... You'd have to copy them when all the markets are closed to make sure they didn't place any trades. And then uncopy before the markets open....
I did not select copy open trade but the person that I'm supposed to be copying is not Trading. How do I know when they're going to start trading because I clicked copy yesterday and they're not Trading
Firstly i really enjoy your videos. I am interested to know after 3 years of using etoro platform are you really happy with trading using it? How much percent you have created during these years? I really appreciate if you answer these questions.
I recommend you and thank you for your explanations and mentioning the price difference between the trader and the moment you copy his opend trades, to make it maybe simpler should not the person try to copy someone at the times the trader opens and closes trades if the trader mentions it, in doing so you can't do nothing wrong i presume. Once again gratitudes mate and have a rentable and more importantly happy new year.
Thanks for your feedback :) It really depends on how frequently the person you're copying trades - you can't know exactly when they will open a new trade, but, on their statistics page, at the bottom, you can see their trade frequency statistics which will give you an idea of how often they will use your money in trades.
hi just a question, some of the 'copy traders' will mention a specific minimum copy amount, do you need to follow that? or it's more of a suggested amount? Like what if you go below the minimum? will you not get allocated anymore. Thanks!
Hi.. Thanks for sharing these videos. Love it! I got a question for you. If I didn’t click the “ Open Trades” at the start and now I want to change it where can I change it? Cheers!
You could either stop the copy, and re-copy with open trades clicked (you'll have to pay spread fees again) OR, you could add new funds to your account (if you can afford it) and click 'copy open trades' for the new funds... you'd have to be aware of the $1 minimum copied trade size though if you wanted to get all of the open trades with the new money you added... th-cam.com/video/BSxCSZHx5kI/w-d-xo.html Also, even if you do get all of their open trades by adding new funds and copying open trades, the speed at which your initial deposit will be used up in new open trades depends on how frequently the person you're copying trades - you can see that stats on the bottom left of their stats page. The more frequently they trade, the quicker your money will be used up in active trades. There's a few things to consider there.
It depends on the trader's trading frequency and their overall trading style really. I mentioned some of the other reasons in the latest vid I did about copying open trades or not. I'm watching more for whether their overall portfolio composition is purposeful in terms of hedging...
As far as I can tell, if he were to take all of his money out and close his account, he'd be off the popular investors program, and we'd automatically stop copying him and our money (plus any profit, or minus any loss) would be returned to our available balance. I don't know the exact mechanism for how that would work though - I've not come across a situation where anyone is complaining that a trader they're copying left the site without warning... I've been copying people who decide publicly to stop being a popular investor and who decide to leave the eToro platform - there was no trouble there, on the day they said they'd leave they just closed all trades and from then on, there were no more new trades opened and a big pinned message on their profile saying they'd stopped trading on eToro. I actually kept copying them for an extra month to see if they came back :) But they didn't, so eventually I just stopped copying them and went and copied someone else. I've never seen a situation where a PI suddenly vanishes for whatever reason. I'd imagine eToro has a plan though, as it must happen...
first of all thanks for your video it helped me a lot to understand several things. Please correct me if I am wrong, it would be a good strategy if my goal is to wait 6 months before making the withdrawal of the investment looking for someone to copy taking into account their general statistics in time and with open trades without looking so much if there are reds or green. all of this is correct?
Thank you, very good explanations! Two questions: Do you know any trader I can copy that do not invest in criptocurrencies? I want to balance my portfolio, I am getting very dependant on cripto Could you do a video about how the overall profit (of your profile) is calculated? I dont get why Total allocated + available is not the same quantity I have deposited but a bit less (maybe fees) Greetings from Mexico
Hi there Emilio, thanks! Yeah, it's getting pretty hard to find good traders who aren't into trading cryptos, as the best traders don't limit themselves to any 1 type of asset, they go wherever the volatility and therefore profit is. What I'm looking for at the moment is people who only have cryptos as a small percentage of their portfolio, or who show broad diversification in the rest of their portfolio. There are a lot of U.S tech stocks + crypto portfolios out there at the moment, especially into Etoro's "Editor's Choice" recommendations so I'm constantly looking for others. I'll try to find some and maybe make a video about them. As for the calculations on profit, yeah they're not the simplest thing to understand, and I'll do a video on them too (to be honest there's still a few questions I have myself, so I'll make sure I'm giving you the facts before i make it :) ) Greetings back from Malta
I meant yeah.. I can use the copy people function, but I'm wondering why is it after I tried to copy trade the trader (with copy open trade) but nothing happen to my portfolio, it's still remain empty.
I used to think that too, but now I'm more watchful of the context too. How long has the trade been drawn-down for? Is this trader the kind of trader who doesn't know how to cut their losses, or are they holding onto this losing trade for good reason? Is there a pattern to how they hold trades which are drawing-down? Can I see enough of their trading history to assure me that they're not just holding-until-it-goes-green-no-matter-what? I'm not sure if I'm right with these questions either :) But they've been increasingly added to my thinking since I made this video...
@@SocialTrading thanks for enlightening us with your videos and thoughts. I'm more balanced into not copying open trades. I'm also testing with the virtual trading in both way.. let's see
How long does it take to lets say close a trade? I mean if I copy someone and he closes trade at 01:00 at what time will be my trade closed? If delay is big, I could lose much more money than him.
Hi there, I think that because it's CFDs it's pretty much instant. Even with cryptos, you now trade real cryptos on Etoro unless you've opened the trade via a copytrade - then it's still CFDs. I was watching Jay Nemesis' live stream a few weeks ago and he closed a trade live on twitch and there were a couple of hundred people watching - he asked people to comment when the trade closed on their account and at what price, to check what the difference was (people who were copying him) - they all started to comment quickly - some took a few more minutes than others, but they were all closing at the same price that his closed at - we think it's because they were all CFDs so they don't have to rely on "Market liquidity" - (the availability of buyers at that particular price) to fill the orders in the same way that the real assets would if that's what was being traded. Jay's were real cryptos, but all the people copying him were actually trading CFDs based on the real asset. I'm not 100% sure on this though, so ask Etoro, and if they say something different, please let me know! :) Also, leave Gandalf alone, he seems a nice man.
Just in case that all sounds like jargon... "Market liquidity" basically means the amount of buyers and sellers there are at any given price for an asset. So if you take Jay - he has around 9000 copiers, so if he bought Bitcoin, they all bought bitcoin. If he sells Bitcoin, then if it was the real asset all of his copiers were trading, there would instantly be 9000 real bitcoin sells happening and you'd need 9000 buyers at that exact same price to fill all the orders - that would be highly unlikely so you'd see the price going further and further away from Jay's selling price, and the number 9000 guy would most likely get a much worse deal which would be unfair. I think CFDs work differently as they don't rely on the availability of buyers at that price in the same way, so Jay relies on market liquidity (or rather Etoro does - Jay simply closes the trade and it closes instantly at whatever price he sold it for as listed on Etoro) and then 8999 people close CFD trades for the same asset at the same price. Stocks are all still CFDs so this would be true too, but they're moving toward trading the real assets on Etoro too. However, I think all copied trades will most likely remain CFDs (I know they do for now) to address issues like this. (At least that's what I think, but check)
New at Etoro and I want to affirm a question surrounding my mind, If someone I copy closes a trade It will close my trade as well without me doing anything? or I have to clse them manually when I realize he closed it (would be a hell if this last is true!) ... Great Vlog by the way, already suscribed ;)
Can i set stop losses in the trades that are opened by the person that I copy . How many open trades ( traders That we can copy ) can have open at the same time .
Nope - the people we copy set the stop losses on the individual trades they make - we're just mirroring exactly what they do. We can close copied trades manually, but not alter the parameters of the trade like leverage or stop loss or take profit. If they have enough money, and we're copying them with enough money to get past the minimum copied trades size rule, I don't think there is an upper limit on the number of trades we can copy via a trader. There could be, but I haven't seen that yet...
@@SocialTrading if I’m coping someone can I close one single trade that is opened or I have to unfollow whomever I am copying if I wanna incash some money ?
It depends who you're copying really - how frequently they open new trades etc and how patient you are... If in doubt, ask the trader who you want to copy whether you should copy open trades or not. I copied Harshsmith again this week, and wasn't sure, so I asked him, and he told me the best time to start the new copy with open trades... Useful!
Can you part copy ? Is it possible to select only the trades you want to copy on an account, or is it literally COPY ALL ONLY with the only two options being to "copy open trades" ticked or unticked
Yeah, you have to copy them all - there's no selective copy feature. Might be useful actually - especially for people who only want to copy crypto positions etc, but for now, nope. Not as far as I know anyhow :)
Hi thank you for informative video more power to your channel and I have question Philippines is acceptable in etoro? Because I can't copy any people trades even I complete my profile
hi there - if you go to the eToro help section www.etoro.com/learn-more and type "is etoro blocked in my country" it comes to a page which shows all the countries where you can't use eToro, and the Philippines wasn't on the list, so from that, I'd imagine it's fine to use eToro there - but I'd ask eToro directly if I were you, just to make sure...
These videos are great - thank you. I have a question.I followed Jay on open trades, back in September. Now its highly volatile I'd prefer to do new trades when I add funds to Jay. It doesn't have this option when I am adding a second round of money. Will a second round of deposits go to new or open trades?
Hi Katherine. It will get used up in new trades as you can't edit trades which are already open. A lot of people seem to be wanting to do the opposite and add money straight into their open trades, but when they find out they can't they then ask whether they should close the copy and re-open the copy with the 'copy open trades' option selected. Scary idea when there's so many all-time-highs and so much volatility. You can check the bottom of the trader's stats page to get an idea of how often per week they'll be opening new trades and therefor using up some of that new money you add. Hope it all goes well.
What is the implication of this scenario? I copied someone for the first time with 1000 $ (open trades?), I then added funds 100 $, but this time I didn't copy open trades, is this a good strategy or not?
Hi, I would like to ask you why I am not able to copy a trader? I just added my first funds on my account but it says based on the information provided in your profile, copy trading is currently disabled in your account. Thx
Do you know, I've never heard that one before ... I have no idea! You'll have to ask them directly, as I just don't know what would cause that one. Hope it works out O.K, and if you can be bothered, let me know what they say. That's a new one.
I resolved :) at the begining thy ask you what are your goals how much do you atend to earn or to risk. I have provide information that I want to risk small amounts and ofcourse expecting small reward and thats why the system doesen't allow me to copy middle or high risk traders lets say "4" or "5". I have changed that and now everything is ok.
I have a question, i try to deposit money on etoro but it wont let me beacuse my acount is not verified but to verify my account i need to deposit money so i dont understand that, can you explain please.
Hi there - to verify your account you don't need to deposit money, you need to upload a copy of your ID or passport, as well as a recent utility bill or bank statement which shows the address you registered with on it. When i first got asked to do this i was also worried - "Why do you need that?" i thought, but i did a little checking around the internet and it's standard for all exchanges to ask this - it has to do with their regulators who require it (i think for anti money-laundering laws - although there are probably way more reasons they want to know who we all are).
Not as far as I know, nope. When you open a new copy on a trader, there's a 'copy stop loss' which you have to set. This is there to automatically close the entire copy if you ever lose a certain amount of the money you have invested with that trader. The maximum you set it to is 95% of the money you have invested with them.
through my experience of the demo I would say it's better to wait for new trades because you don't want to be caught buy a trader that has trades that are taking a downturn
There's a lot of things to consider with this one... I don't copy open trades anymore, unless I see that the trades I'm about to copy are going in the right direction via my own analysis. It depends really, but usually I don't anymore either.
Thanks for the great video! If you copy a trader and that person trades with X2, X4 or more, does that mean that I also copy the overnight fees of the trades?
Hi Kay, thanks! :) Yes, I believe so - you might want to ask Etoro directly to be sure, but my understanding is that all copied trades have the same characteristics as if you traded yourself - the trade is merely executed by someone else for you, but it's your trade opened in your account with all of the regular fees and characteristics of a trade. If they say otherwise, please let me know!
Really up to to you ... It depends what you can risk, and the style of the trader you're copying. If they hold trades open for a year, then I'd wonder if it's worth waiting for a year to copy another trade (if i don't copy open trades)
Hey there - it keeps changing, so I'm not entirely sure right now. Here's what i found in their help section : Depending on your region and country regulations, the minimum first-time deposit varies from $200 to $10,000. To view your required minimum deposit, simply click “Deposit Funds,” and the minimum required amount will appear in the “Select Amount” box.
The current price :) Otherwise it would be like having an amazing time-machine money-making machine so we could buy at the old price and sell straight away at massive profit :) that would be pretty good...
@@SocialTrading Makes sense. Would it be an idea to copy someone's open trades who has a good risk rating/ overall history who has lots of trades already in Red then ? If you then buying them at a better price
As far as I can see right now, it depends on what's currently happening with the assets they have open and what the PI sees as the future for them - my current strategy is to have a look and apply some basic technical analysis to the open trades, but then I also ask the Pi directly, as they'll hopefully have more insight into the fundamentals of the assets and why they've still got those trades open.
Love your videos , good quality work, I have a question : If I have invested In copy trade USD 500 and selected copy open trade and later I want to invest the same amount do you recommend to also select copy open trade 😊
Thanks :) It really depends what you're after, and whether you want to wait until the trader uses up your newly added funds if you don't copy open trades. It depends how frequently the trader will make new trades and start using your money (you can see their average trade frequency at the bottom of their stats page). It also depends if you want to be exposed to the current market moves, or let the trader slowly use up the money over more time - again though, it depends how frequently they usually trade...
I'm still learning. I think it's really really easy to lose a lot of your money to be honest. That's why I'm going for lower risk traders to copy now, even if that means lower potential returns...
It's really insane, we pay fees even on our Deposit. If you deposit 2000 euro and you want to withdraw it right a way, you have 1950 euro (exchange fee) to withdraw minus 25$ withdrawal fee.
I'm not sure how much higher than are than other exchanges though. I mean i know all of the exchanges have some sort of withdrawal fees, so i'd have to see what they're like in order to compare. I will be soon as I'm getting into crypto exchanges now, but until then i can't truly say. Yeah it is a bit cheeky really asking for $25 just to give you your money back, but i do think they all do that. The point about the big exchange rate when they change your money back upon withdrawal - that one seems more dodgy, so I'll ask about that one and see what they say.
So i just asked them (on their help chat) I asked what their exchange fees were and they led me to their fees page - the furthest right tab does show all of their exchange rate fees, which says 250 pips if it's from Eur / USD , and 50 pips if it's U.K to USD - the other major currencies are also listed. I asked if this was high compared to say getting your bank to do the exchange itself and then transferring dollars directly to them. They said they didn't know and you'd have to ask your own bank to check this. I asked if they had compared their exchange rates to any form of "industry standard" and they said there wasn't an "industry standard" so i asked if maybe they had compared their exchange rate to the exchange rates of the top 5 European banks, and they said no, they hadn't. Which I think is a bit weak of them. So what they suggested was to actually ask your bank how much that same exchange would cost with them and see the comparison from there. Someone did tell me that they found the Etoro exchange rates really competitive, and they were a well informed person, but I'm not sure now. I might actually check with my own bank next time I'm in there :)
Thanks for asking Thomas. 250 Pips, so bad for us from Europ. and it's an unwanted trade too because USD get weaker every day and EUR stronger, and if trump does something stupid we have nothing in our pocket other than some useless USD :D
Apart from crypto, If you cannot dedicate a huge protion of your week to analysing the markets / graphs you will not make money trading. just dipping in and out of the market with a small account will get you no were. to make money in stocks as a working person you are much better off working hard at your own job and transfering funds over into copy trading . its not exciting but thats a good thing. your money will grow.
I'd agree. Then you just have to find the right people to copy... I think that was a big part of why i wanted to understand trading more - so i could maybe stand a better chance of picking good traders.
So i just deposited 20k into my account, copied someone like you said to in the last video and lost 11%...... haha only joking, thanks for the vids, very clear and informative!
Even after 3 years, this video offers great insights for folks like me who are looking to try copy trading.
thank you so much :)
Short answer, do not leave the default copy open trades box checked. If he's in profit he'll most likely sell soon. If he's in loss, he may sell as a stop loss. Both scenerios mean you lose. Just uncheck so that future trades with most profit potential will be realized by you.
Also if you're in crypto, set the copy loss at the minimum because wild swings can trigger the stop when you didn't want to exit.
Thank you for this explanation ! After one year of randomly copying people I have understood so much more.
really glad it helped :)
so basically what you mean:
in order to copy the whole portfolio of the trader, we should copy the open trade as well. But my question is, they entered the trade position at X dollar and say, when I copy the open position now, i might enter at a different price -> which means my profit will eventually be different from the trader I am copying???
Say, if we see that some of the stocks they bought (still in open trade status) are making a lot of money and the price is higher than average price right now (say Amzn stock) and we don't expect it to go up again but instead it may go down - it is better not to copy open trade right?
did you find the answer to your question at the end in the 2nd paragraph?
Thanks for explaining exactly what I didn't understand, and making it so clear. Just to say that I find it useful to click on the P/L(%) column to make the trades line up from most to least profitable, to get an idea where someone I might copy is in the cycle of profit and loss.
Yeah, I've done that before too - it's good to be able to see things at a glance! Thanks :)
today is april 3, 2021. im thinking about starting copy trading and i find this old video still useful.
First time watching, Still a very useful video 4 years later today, 23 Aug 2021. Big thanks BTV!
That's really nice to hear :) Thank you!
Very useful! I just started copy trading and was wondering about this!
Thank you - glad it helped :)
That depends on your risk appetite and also whether the copytrader is long or short term trader
I was wondering how to see how much of your money invested was being used in trades. Thanks for this! Have been bingewatching your videos just to learn more. You are an awesome teacher!
That's really kind of you to say, thanks :)
First time here. Finally someone explains something. Thank yhank thank you!!!
:) Much appreciated!
Excellent content on your channel my dude. You are helping a lot. Greetings from Portugal
Thank you :)
Hi thanks for your videos...I love them...have you considered covering the copyportfolios
Their copytrade feature can be made so much better. They should really provide an option to use some money to copy open trades and put in some money exclusively to copy future trades, not rebalance all trades based on future trades. This seems an obvious better system to me as it would allow real hands-off copytrading to people who don't wanna get much involved and want to auto-pilot their trading. I got into eToro because I thought copytrading was cool. Now after learning more about it and investing in general, I closed all my copy trades and reinvested the money for real crypto. In case of crypto, which is all that's available in eToro US, when you copytrade, you don't even actually own any crypto. All you can do is hope to close the copy at a profit someday. Makes no sense to use copytrade if you keep up with news at all and know what you are doing. I shouldn't need to sell all your crypto holdings to get any value out of it.
Is there any point hitting "copy open trades" if you can see they made most of their profits already from trades they opened a long time ago? As in, you already missed the boat and won't see as big profits from copying those trades too? Is it better to wait for him to open new trades so you can gain same % profits as him?
We miss you! Come back.
Heya - I'm not very well and can't make vids right now. Thanks for the support though! Much appreciated
@@SocialTrading sorry to hear that. Get well soon. You have great content so hope you can get back to doing this soon.
@@SocialTrading Get well soon! Just started trading and i find your videos super helpful, far better that many others!
@@SocialTrading you are the man
But what if you add money to the person you are allready copying. If The person you copy has 20 open trades in BTC for example and all are in the + and you add money with copy open trades it will retake those open positions to the date you add the extra funds and you loose all your profits you had over these 20 trades. Wouldn't it be advisable to don't use copy trades when you add extra money? When I added a 1000 dollars to one of the people I copy I lost a big chunk of my profits I had with that person. Plus my open positions got retaken so for the first few days my profits just went down, down, down.
Love Love Love your videos. Thank you for taking the time to make them!
But in open trades you also copy he's futer trades?
Amazing content, been watching all your videos since the first one and will watch them all. You make it very easy to understand and point out very basic but very important questions that I believe all new traders think about. Here is one: if you copied a trader without copy open trades, and now you want to stop copying them, do you get you full money back if he/she didn’t use any of it?
Hi there - Thanks so much :) Yeah, if they didn't use the money, it should just be returned to your available balance when the copy closes. At least I think so! :) Try it on the virtual portfolio first... You'd have to copy them when all the markets are closed to make sure they didn't place any trades. And then uncopy before the markets open....
I did not select copy open trade but the person that I'm supposed to be copying is not Trading. How do I know when they're going to start trading because I clicked copy yesterday and they're not Trading
You'd have to ask them really - maybe leave a comment on their feed, or see if other people have already asked them the same thing there...
Well thanks ... You just answered my question, I'm one that started not to copy old trades and only on new trades and it's worked for me ... Profit !
I'm also leaning towards this. How did it turn out for you?
So my how do taxes work in this anyone any input? How do they calculate your returns when someone else is making you money
Thanks for these videos! How to know which leverage the people you are coping are using?
Firstly i really enjoy your videos. I am interested to know after 3 years of using etoro platform are you really happy with trading using it? How much percent you have created during these years? I really appreciate if you answer these questions.
Hello, if the trader I'm copying (T2) is also copying another trader (T1), would my portfolio reflect the trades made by T1?
Great video. Simplifies many open questions ! Thank you very much.
Cheers Dharmik - much appreciated :)
I recommend you and thank you for your explanations and mentioning the price difference between the trader and the moment you copy his opend trades, to make it maybe simpler should not the person try to copy someone at the times the trader opens and closes trades if the trader mentions it, in doing so you can't do nothing wrong i presume. Once again gratitudes mate and have a rentable and more importantly happy new year.
Thanks for your feedback :) It really depends on how frequently the person you're copying trades - you can't know exactly when they will open a new trade, but, on their statistics page, at the bottom, you can see their trade frequency statistics which will give you an idea of how often they will use your money in trades.
hi just a question, some of the 'copy traders' will mention a specific minimum copy amount, do you need to follow that? or it's more of a suggested amount? Like what if you go below the minimum? will you not get allocated anymore. Thanks!
hello Im watching your vlogs,, what is your ETORO account? I will try to study your moves ,,,,
Hi.. Thanks for sharing these videos. Love it! I got a question for you. If I didn’t click the “ Open Trades” at the start and now I want to change it where can I change it? Cheers!
You could either stop the copy, and re-copy with open trades clicked (you'll have to pay spread fees again) OR, you could add new funds to your account (if you can afford it) and click 'copy open trades' for the new funds... you'd have to be aware of the $1 minimum copied trade size though if you wanted to get all of the open trades with the new money you added...
th-cam.com/video/BSxCSZHx5kI/w-d-xo.html
Also, even if you do get all of their open trades by adding new funds and copying open trades, the speed at which your initial deposit will be used up in new open trades depends on how frequently the person you're copying trades - you can see that stats on the bottom left of their stats page. The more frequently they trade, the quicker your money will be used up in active trades. There's a few things to consider there.
what happens when you copy a selling trade?
feb to march all in red and negative on this ETORO :(
Tom, do you personally copy open trades or not? Thank you.
It depends on the trader's trading frequency and their overall trading style really. I mentioned some of the other reasons in the latest vid I did about copying open trades or not. I'm watching more for whether their overall portfolio composition is purposeful in terms of hedging...
can you make a video of how to do short selling? thank you
I'll put it on the list, thanks for the idea !
+447979613810
Hi, you are really good at teaching how to trade on the stock market. Thanks for this video
Tom, what happens to your investment funds if the trader you are copying decides to stop trading or closes all accounts and takes his money out?
As far as I can tell, if he were to take all of his money out and close his account, he'd be off the popular investors program, and we'd automatically stop copying him and our money (plus any profit, or minus any loss) would be returned to our available balance.
I don't know the exact mechanism for how that would work though - I've not come across a situation where anyone is complaining that a trader they're copying left the site without warning...
I've been copying people who decide publicly to stop being a popular investor and who decide to leave the eToro platform - there was no trouble there, on the day they said they'd leave they just closed all trades and from then on, there were no more new trades opened and a big pinned message on their profile saying they'd stopped trading on eToro. I actually kept copying them for an extra month to see if they came back :) But they didn't, so eventually I just stopped copying them and went and copied someone else.
I've never seen a situation where a PI suddenly vanishes for whatever reason. I'd imagine eToro has a plan though, as it must happen...
Hey hope you keeping well. Im back to etoro trading and i saw you still making new videos which is cool
first of all thanks for your video it helped me a lot to understand several things. Please correct me if I am wrong, it would be a good strategy if my goal is to wait 6 months before making the withdrawal of the investment looking for someone to copy taking into account their general statistics in time and with open trades without looking so much if there are reds or green. all of this is correct?
Thank you, very good explanations! Two questions:
Do you know any trader I can copy that do not invest in criptocurrencies? I want to balance my portfolio, I am getting very dependant on cripto
Could you do a video about how the overall profit (of your profile) is calculated? I dont get why Total allocated + available is not the same quantity I have deposited but a bit less (maybe fees)
Greetings from Mexico
Hi there Emilio, thanks! Yeah, it's getting pretty hard to find good traders who aren't into trading cryptos, as the best traders don't limit themselves to any 1 type of asset, they go wherever the volatility and therefore profit is. What I'm looking for at the moment is people who only have cryptos as a small percentage of their portfolio, or who show broad diversification in the rest of their portfolio. There are a lot of U.S tech stocks + crypto portfolios out there at the moment, especially into Etoro's "Editor's Choice" recommendations so I'm constantly looking for others. I'll try to find some and maybe make a video about them. As for the calculations on profit, yeah they're not the simplest thing to understand, and I'll do a video on them too (to be honest there's still a few questions I have myself, so I'll make sure I'm giving you the facts before i make it :) )
Greetings back from Malta
Social Trading Vlog thanks a lot man. I have suscribed to your channel.. keep it going!
Thanks man :)
Hi Thomas, would like to know.. are we not being allowed to use copy trades in virtual portfolio?
Yeah, as far as I know it's still there... cant you copy people in the virtual portfolio?
I meant yeah.. I can use the copy people function, but I'm wondering why is it after I tried to copy trade the trader (with copy open trade) but nothing happen to my portfolio, it's still remain empty.
I really think that eToro should hire you.. Prefer your videos about eToro way more than theirs.
Thanks :)
you explained things very well that a 5 year old kid would understand! very nice!
Thanks! Explanation was very clear and exactly what i am looking for
Thanks :)
Thanks mister. I just started using eToro. Copy other people is great concept for beginners trying to make money in trading. :)
Yeah, I think so too. It's just finding the good ones which takes some practice :)
there should be another option to tick "copy only drawdown open trades"
I used to think that too, but now I'm more watchful of the context too. How long has the trade been drawn-down for? Is this trader the kind of trader who doesn't know how to cut their losses, or are they holding onto this losing trade for good reason? Is there a pattern to how they hold trades which are drawing-down? Can I see enough of their trading history to assure me that they're not just holding-until-it-goes-green-no-matter-what? I'm not sure if I'm right with these questions either :) But they've been increasingly added to my thinking since I made this video...
@@SocialTrading thanks for enlightening us with your videos and thoughts. I'm more balanced into not copying open trades. I'm also testing with the virtual trading in both way.. let's see
How long does it take to lets say close a trade? I mean if I copy someone and he closes trade at 01:00 at what time will be my trade closed? If delay is big, I could lose much more money than him.
Hi there, I think that because it's CFDs it's pretty much instant. Even with cryptos, you now trade real cryptos on Etoro unless you've opened the trade via a copytrade - then it's still CFDs. I was watching Jay Nemesis' live stream a few weeks ago and he closed a trade live on twitch and there were a couple of hundred people watching - he asked people to comment when the trade closed on their account and at what price, to check what the difference was (people who were copying him) - they all started to comment quickly - some took a few more minutes than others, but they were all closing at the same price that his closed at - we think it's because they were all CFDs so they don't have to rely on "Market liquidity" - (the availability of buyers at that particular price) to fill the orders in the same way that the real assets would if that's what was being traded. Jay's were real cryptos, but all the people copying him were actually trading CFDs based on the real asset.
I'm not 100% sure on this though, so ask Etoro, and if they say something different, please let me know! :)
Also, leave Gandalf alone, he seems a nice man.
Just in case that all sounds like jargon...
"Market liquidity" basically means the amount of buyers and sellers there are at any given price for an asset. So if you take Jay - he has around 9000 copiers, so if he bought Bitcoin, they all bought bitcoin. If he sells Bitcoin, then if it was the real asset all of his copiers were trading, there would instantly be 9000 real bitcoin sells happening and you'd need 9000 buyers at that exact same price to fill all the orders - that would be highly unlikely so you'd see the price going further and further away from Jay's selling price, and the number 9000 guy would most likely get a much worse deal which would be unfair. I think CFDs work differently as they don't rely on the availability of buyers at that price in the same way, so Jay relies on market liquidity (or rather Etoro does - Jay simply closes the trade and it closes instantly at whatever price he sold it for as listed on Etoro) and then 8999 people close CFD trades for the same asset at the same price.
Stocks are all still CFDs so this would be true too, but they're moving toward trading the real assets on Etoro too. However, I think all copied trades will most likely remain CFDs (I know they do for now) to address issues like this.
(At least that's what I think, but check)
New at Etoro and I want to affirm a question surrounding my mind, If someone I copy closes a trade It will close my trade as well without me doing anything? or I have to clse them manually when I realize he closed it (would be a hell if this last is true!) ... Great Vlog by the way, already suscribed ;)
Good explanation mate
Thank you :)
honestly your channel has the most genuine commentary on etoro I have watched. Thank your for posting yours videos, keep it up!
Suhye Kim thank you so much :) I really appreciate it.
You seems to be a very nice person sir! Thanks for all your insights! 😊
Confirms what I thought but well explained Tom - cheers
Cheers Dean :)
Can i set stop losses in the trades that are opened by the person that I copy .
How many open trades ( traders That we can copy ) can have open at the same time .
Nope - the people we copy set the stop losses on the individual trades they make - we're just mirroring exactly what they do. We can close copied trades manually, but not alter the parameters of the trade like leverage or stop loss or take profit.
If they have enough money, and we're copying them with enough money to get past the minimum copied trades size rule, I don't think there is an upper limit on the number of trades we can copy via a trader. There could be, but I haven't seen that yet...
@@SocialTrading if I’m coping someone can I close one single trade that is opened or I have to unfollow whomever I am copying if I wanna incash some money ?
Hi there, thank you kindly for this. I'm a newbie, should I start by using the "Copy open trades" functionality then?
It depends who you're copying really - how frequently they open new trades etc and how patient you are... If in doubt, ask the trader who you want to copy whether you should copy open trades or not. I copied Harshsmith again this week, and wasn't sure, so I asked him, and he told me the best time to start the new copy with open trades... Useful!
Can you part copy ? Is it possible to select only the trades you want to copy on an account, or is it literally COPY ALL ONLY with the only two options being to "copy open trades" ticked or unticked
Yeah, you have to copy them all - there's no selective copy feature. Might be useful actually - especially for people who only want to copy crypto positions etc, but for now, nope. Not as far as I know anyhow :)
The best explanation thank bro.. how about forex trading do they have on etoro?
Yep, there's forex on Etoro :) Thanks!
Hi thank you for informative video more power to your channel and I have question Philippines is acceptable in etoro? Because I can't copy any people trades even I complete my profile
hi there - if you go to the eToro help section
www.etoro.com/learn-more
and type "is etoro blocked in my country" it comes to a page which shows all the countries where you can't use eToro, and the Philippines wasn't on the list, so from that, I'd imagine it's fine to use eToro there - but I'd ask eToro directly if I were you, just to make sure...
Very good explanation. Subscribed.
These videos are great - thank you. I have a question.I followed Jay on open trades, back in September. Now its highly volatile I'd prefer to do new trades when I add funds to Jay. It doesn't have this option when I am adding a second round of money. Will a second round of deposits go to new or open trades?
Hi Katherine. It will get used up in new trades as you can't edit trades which are already open. A lot of people seem to be wanting to do the opposite and add money straight into their open trades, but when they find out they can't they then ask whether they should close the copy and re-open the copy with the 'copy open trades' option selected. Scary idea when there's so many all-time-highs and so much volatility. You can check the bottom of the trader's stats page to get an idea of how often per week they'll be opening new trades and therefor using up some of that new money you add. Hope it all goes well.
Wonderful, thank you. Keep up the good work.
Cheers Katherine :)
What is the implication of this scenario? I copied someone for the first time with 1000 $ (open trades?), I then added funds 100 $, but this time I didn't copy open trades, is this a good strategy or not?
can you selectively copy just the trades in red?
I would say just copy all trades, and directly cancel all (sub)trades witch are in green; would that work..?
Hi, I would like to ask you why I am not able to copy a trader? I just added my first funds on my account but it says based on the information provided in your profile, copy trading is currently disabled in your account. Thx
Do you know, I've never heard that one before ... I have no idea! You'll have to ask them directly, as I just don't know what would cause that one. Hope it works out O.K, and if you can be bothered, let me know what they say. That's a new one.
I resolved :) at the begining thy ask you what are your goals how much do you atend to earn or to risk. I have provide information that I want to risk small amounts and ofcourse expecting small reward and thats why the system doesen't allow me to copy middle or high risk traders lets say "4" or "5". I have changed that and now everything is ok.
Excellent. Well spotted! :)
I have a question, i try to deposit money on etoro but it wont let me beacuse my acount is not verified but to verify my account i need to deposit money so i dont understand that, can you explain please.
Hi there - to verify your account you don't need to deposit money, you need to upload a copy of your ID or passport, as well as a recent utility bill or bank statement which shows the address you registered with on it. When i first got asked to do this i was also worried - "Why do you need that?" i thought, but i did a little checking around the internet and it's standard for all exchanges to ask this - it has to do with their regulators who require it (i think for anti money-laundering laws - although there are probably way more reasons they want to know who we all are).
Great content. Can you tell... Can you lose more than the amount you invest with copy trading?
That's what we all want to know the answer to :) 2 months and no reply, What a shame. :(
Not as far as I know, nope. When you open a new copy on a trader, there's a 'copy stop loss' which you have to set. This is there to automatically close the entire copy if you ever lose a certain amount of the money you have invested with that trader. The maximum you set it to is 95% of the money you have invested with them.
been gone a while...
Social Trading Vlog thanks for that☺
Great! Thank you for making this video.
through my experience of the demo I would say it's better to wait for new trades because you don't want to be caught buy a trader that has trades that are taking a downturn
There's a lot of things to consider with this one... I don't copy open trades anymore, unless I see that the trades I'm about to copy are going in the right direction via my own analysis. It depends really, but usually I don't anymore either.
videos are so clean that corona cant infect!
:)
Thanks for the great video! If you copy a trader and that person trades with X2, X4 or more, does that mean that I also copy the overnight fees of the trades?
Hi Kay, thanks! :) Yes, I believe so - you might want to ask Etoro directly to be sure, but my understanding is that all copied trades have the same characteristics as if you traded yourself - the trade is merely executed by someone else for you, but it's your trade opened in your account with all of the regular fees and characteristics of a trade. If they say otherwise, please let me know!
If I'm copying someone who's investing in crypto, do you suggest me to copy open trades?
Really up to to you ... It depends what you can risk, and the style of the trader you're copying. If they hold trades open for a year, then I'd wonder if it's worth waiting for a year to copy another trade (if i don't copy open trades)
hello, how much money we need to invest at first please ?
Hey there - it keeps changing, so I'm not entirely sure right now. Here's what i found in their help section :
Depending on your region and country regulations, the minimum first-time deposit varies from $200 to $10,000.
To view your required minimum deposit, simply click “Deposit Funds,” and the minimum required amount will appear in the “Select Amount” box.
Love your content
cheers Chris:)
How can one trade Forex with $100?
It seem you are a good and productive trader in forex
You can only trade when you have good broker
I am from Canada 🇨🇦, I need some advice please. In trading forex and Bitcoin, which one is best right now?
@@vininchandran7326 Both of them are profitable, you have to go for your choice.
@@vininchandran7326 Note: you don't invest in bitcoin, you speculate
If you copy trade someone with open trades does it purchase at the current price or the price in the past the trade was made ?
The current price :) Otherwise it would be like having an amazing time-machine money-making machine so we could buy at the old price and sell straight away at massive profit :) that would be pretty good...
@@SocialTrading Makes sense. Would it be an idea to copy someone's open trades who has a good risk rating/ overall history who has lots of trades already in Red then ? If you then buying them at a better price
As far as I can see right now, it depends on what's currently happening with the assets they have open and what the PI sees as the future for them - my current strategy is to have a look and apply some basic technical analysis to the open trades, but then I also ask the Pi directly, as they'll hopefully have more insight into the fundamentals of the assets and why they've still got those trades open.
Thank sir, for these explanations and I waiting for another video, I wish to you the best.
Much obliged sir! :) Same to you.
Thanks Ali!
Love your videos , good quality work, I have a question : If I have invested In copy trade USD 500 and selected copy open trade and later I want to invest the same amount do you recommend to also select copy open trade 😊
Thanks :) It really depends what you're after, and whether you want to wait until the trader uses up your newly added funds if you don't copy open trades. It depends how frequently the trader will make new trades and start using your money (you can see their average trade frequency at the bottom of their stats page). It also depends if you want to be exposed to the current market moves, or let the trader slowly use up the money over more time - again though, it depends how frequently they usually trade...
I'm not used to this..but it looks easy,or am i wrong?
I'm still learning. I think it's really really easy to lose a lot of your money to be honest. That's why I'm going for lower risk traders to copy now, even if that means lower potential returns...
Great explanation mate, you do a good job.
Thanks :)
Hi Simon! :D .. like this vids anyway cheers!
Thank you. Good info. 😎
thanks Kim. :)
Thanks for the video, very informative. Keep it up mate 😎
Cheers James :) Much obliged
How to hold trade in etoro?
Hi there, I'm not sure what you mean exactly.
I start to think that etoro doesn't worth it, with all the fees.
It's really insane, we pay fees even on our Deposit. If you deposit 2000 euro and you want to withdraw it right a way, you have 1950 euro (exchange fee) to withdraw minus 25$ withdrawal fee.
I'm not sure how much higher than are than other exchanges though. I mean i know all of the exchanges have some sort of withdrawal fees, so i'd have to see what they're like in order to compare. I will be soon as I'm getting into crypto exchanges now, but until then i can't truly say. Yeah it is a bit cheeky really asking for $25 just to give you your money back, but i do think they all do that. The point about the big exchange rate when they change your money back upon withdrawal - that one seems more dodgy, so I'll ask about that one and see what they say.
So i just asked them (on their help chat) I asked what their exchange fees were and they led me to their fees page - the furthest right tab does show all of their exchange rate fees, which says 250 pips if it's from Eur / USD , and 50 pips if it's U.K to USD - the other major currencies are also listed. I asked if this was high compared to say getting your bank to do the exchange itself and then transferring dollars directly to them. They said they didn't know and you'd have to ask your own bank to check this. I asked if they had compared their exchange rates to any form of "industry standard" and they said there wasn't an "industry standard" so i asked if maybe they had compared their exchange rate to the exchange rates of the top 5 European banks, and they said no, they hadn't. Which I think is a bit weak of them. So what they suggested was to actually ask your bank how much that same exchange would cost with them and see the comparison from there. Someone did tell me that they found the Etoro exchange rates really competitive, and they were a well informed person, but I'm not sure now. I might actually check with my own bank next time I'm in there :)
you're doing great , but i really think you should consider other platforms, like what am doing right now.
Thanks for asking Thomas. 250 Pips, so bad for us from Europ. and it's an unwanted trade too because USD get weaker every day and EUR stronger, and if trump does something stupid we have nothing in our pocket other than some useless USD :D
Is ETORO for long term investors?
Hi there. There are long term investors on Etoro - taking advantage of dividend payments etc...
I'm not sure how the system stacks up against others for long term investments though - I'm really here because of the copy trading facility.
Thanks for your videos👍
Liked and subscribed
Thank you!
Cheers Billy!
Apart from crypto, If you cannot dedicate a huge protion of your week to analysing the markets / graphs you will not make money trading. just dipping in and out of the market with a small account will get you no were. to make money in stocks as a working person you are much better off working hard at your own job and transfering funds over into copy trading . its not exciting but thats a good thing. your money will grow.
I'd agree. Then you just have to find the right people to copy... I think that was a big part of why i wanted to understand trading more - so i could maybe stand a better chance of picking good traders.
Patients is key no fomo, thats exactly what he just described.
Enter with Patients and a plan
Patience*
Thanks for your great videos, even old vids, just opened up new Etoro here and this explanations helps in copying trades topic. God bless,
Cheers Florisa - God Bless you too :)
I love you videos! Very well explained and structured, keep the good work man!
Thanks so much :)
Thank you so much for your explanation. very easy to follow
Thank you :)
From Philippines, I your new Subscriber really appreciate your videos learn a lot im just newbie in etoro
keep it up! more power..
So clear and helpful which resolves issues l’ve been concerned about!!!Thank a lot!
Glad it helped a bit :) Excellent.
You sound like the poshest road man ever bro! Lol, but seriously, thanks for the vid, very informative and clear!
Thank you!
Thank you for sharing! Your sharings are great for newbies like me!
There's one excellent trader I copy who actually advises NOT to copy open trades
Thank you for your videos
They are helping me a lot
Cheers Jorge, I appreciate it - hope it's all going well!
Already hear the lambo
I wish I could! :)
thanks for all the tips and for being so good looking :)
Thanks, Lovely Video!
So i just deposited 20k into my account, copied someone like you said to in the last video and lost 11%...... haha only joking, thanks for the vids, very clear and informative!
Hope it all goes well! And thanks :)