Here I give some important guidlines on how and who to copy on Etoro to be on the save side and make consistently money and NOT to LOOSE money just following some greedy hypes!
I longtime thought about, what to give as first tip:
If you trade forex and CFD's you must take it seriously as investement or business. If you take it as a loose like a game, like in casino, you'll shurly loose your money. If it's wath you want, have some casino like pleasure, it's ok. If not, don't trade, unless you take it serious, willing to learn, all wath is needed.
On etoro you must learn to skills:
1. How to make your own trades. -> learn as much as you can. See links for free videos and webinars ond "forex scool". If once you breath forex and daydream it, you may begin to have more winning trades than loosing. It must jump into your eyes, where strong buyers are and where strong sellers. Alongside this levels you can make good trades.
2. Who to copy. You must learn to copy only traders with save MM (money management). more about below.
How and who to copy on etoro?
Rule 1: If a Trader makes more than 100% per month profit, this is a sign of very high risk trader. If you don't want to loose your money, don't follow traders with shortterm exellent profit. To be greedy is the guarantee to loose your money over short or long.Exeption: There is a strategy, if you gained good profit, to trade with this profit on high risk, trying to multiply the profit. Stopp losses are set to break even, so only the former made profit can be lost. In this case it is possible to make even several 100% profits in a month without risking the initial investment. If you copy such a trading series not from beginning, you can loose most of your allocation, while the trader just looses his former profit. So carefully look how big the first trades of a Traders are. They should be in the beginning within the limits of rule 2. This strategy needs a good exit point to come back to rule 2 to save overproportional profits.
If you once made hughe profits several 100% in short time, take away a big part of the allocation to save the profits.
Rule 2: Copy only traders who invest not more than 5% of bankroll per trade and not more than 50% in total simultaniously in different not correlated trades.
Rule 3: Copy only traders with a consistent profitable 12 month chart. It is the blue line, which really shows, wether a Trader is good or not. The Blue line is the real value of current bankroll including value of all open trades. If the blue line is steadily growing and near the green line, thats a good chart, meaning, there are not many open trades in big red (loss). The chart should grow consistently without to big fall downs. Such charts, where the green and the blue line are near and steadily growing over 6-12 month, there is normally a good low risk strategy behind (respecting rule 2!). See the videos below, where I explain the stats chart.
Rule 4: Do not blindly trust into a Trader and copy him because others do. Make your own analyse of his past 12 month performance (rule 3) and copy a trader only, because you indentfied him as a low or medium risk trader with consistent chart!
Rule 5: Do not copy traders with very similar trades. You must control wich trades the traders make. If they are oftentime the same, you accumulate the risk of loosing much at once.
Who can I recommend (with caution):
To these rules may apply following traders, as far, no guarantee:
@4exPirate (best chart I'v seen on etoro! good strategy!@niseko,
probably too: @gerdollarman, with caution....
small amount on: @BogaNai (he is 80 years old, made of 70$ with one trade 10000, now waiting since month of no trading for next occasion)
No longer to recommend: Emirtrade, Anassleiman
This list can be completed or changed, so ask me on etoro: ljamin.
more rules may follow.
Rule 6: Copying some medium to high risk traders: with a smaller part of your bankroll, you can play poker and risk more by copying several different high risk trader with exellent performance, who have a very intensiv trade management. Once you doubled a allocation of a trader, you take out half of it. Then if he further makes profit, this is without further risk of initial allocation.
If you made several 100% or even 1000% profit in very short time, you must take out at least half of it to save the profit. You can i.e. put it in some stocks, but not all at once, better every week or month some stocks.
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