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 Post subject: eToro Trading System
 Post Posted: Wed Jun 06, 2012 8:14 pm 
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Joined: Mon Apr 16, 2012 10:39 pm
Posts: 22
Hi All,

Has anybody had a go at 'eToro'? I stumbled accross it today after reading Shares magazine. You follow people based on their trading success, then you can set it to trade the same things they do.

I have set up a demo account tonight and will report how I get on. The URL is - http://www.etoro.com

There is a YouTube video on the site, or here - http://youtu.be/ANbvxww-vjo

Dave.


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 Post subject: Re: eToro Trading System
 Post Posted: Fri Jun 08, 2012 8:28 am 
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Joined: Wed Nov 03, 2010 9:10 pm
Posts: 147
Moonie,

I didn't know that was what eToro was about. I've seen them advertised in the past but never really looked into them. I have heard of this type of trading before and often considered copying someone else that is a successful trader. The only problem with it is what happens when they start to lose? You could quite easily wipe out your entire account and the person or system you are following wouldn't care.

I would be interested to see how you get on with your demo account though so please do keep us updated.

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May the markets be with you!

Harry,
The Spread betting beginner


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 Post subject: Re: eToro Trading System
 Post Posted: Sun Jun 17, 2012 7:13 pm 
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Posts: 22
Evening all,

Quick update of eToro: My demo account started off with 10k and is now down to 6k following several losses. I haven't been watching it closely, just checking their android app every now and then. I have come to the conclusion that there is no way I will be trusting my cash on this service now.

I have had some success in a different trading strategy using my live spread bet account. I have been looking at FX chart patterns and notice many of them have a rough cycle going up then down. I pick one that is at a high or low point and watch to see if its struggling to go higher/lower or starting to reverse. I then buy/sell appropriately and place an opposite order to buy/sell just above the last high/low where I want it to go to. I also place a stop order a long way off where I don't want it to go, to avoid the dreaded spikes (£320 off in my case).

Of course, if there was a HUGE move in the market against you, then you could potentially lose the big stop amount. However, this is unlikely if you trade when there are no economic announcements. I have been leaving the trades over night as my nerves can't stand watching the P/L go up and down. I just wait for the email to say the trade has been made. This has made me nearly £100 on the first two trades and has cost around £3 for the overnight charges.

Good luck.

Dave.


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 Post subject: Re: eToro Trading System
 Post Posted: Mon Jun 18, 2012 12:04 pm 
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Dave,

You're forex strategy sounds like an interesting one. please do keep us updated with how it progresses for you. I for one will be interested to see how it works out.

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May the markets be with you!

Harry,
The Spread betting beginner


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 Post subject: Re: eToro Trading System
 Post Posted: Tue Jun 19, 2012 2:23 pm 
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Posts: 22
Hi Harry,

My strategy continues to give success although its easier to predict downturns in this bearish market.

I secured a £25 profit yesterday and a £29 profit today. I'm keeping the limits quite tight as I don't want to be greedy. You can bet if I doubled my stake and widened the limits, my luck would quickly run out.

So far, so good.

Dave.


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 Post subject: Re: eToro Trading System
 Post Posted: Tue Jun 19, 2012 4:08 pm 
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Sounds like you're doing the right thing Dave. I hope your success continues.

Your making a profit which is more than can be said for most, including me.

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May the markets be with you!

Harry,
The Spread betting beginner


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 Post subject: Re: eToro Trading System
 Post Posted: Wed Jun 20, 2012 3:54 pm 
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Joined: Mon Apr 16, 2012 10:39 pm
Posts: 22
Thanks Harry, unfortunately my luck ran out today. Yesterday, feeling supremely confident, I placed two trades on; a £2 sell for the CHF/JPY and a £2 buy for the USD/CAD. As there were two trades, the automatic stops put in place were half their normal value and I was blown out by the CHF/JPY, losing £145, owch. The USD/CAD is still on and £25 in profit and my finger is on the sell button just in case the Fed vote against the extension to operation twist.

Another lesson learnt, double the trades, make sure the stops are still wide. I'm going to stick to one trade now until my balance grows.

Will continue to post my experiences.

Good luck with your trading.

Dave.


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 Post subject: Re: eToro Trading System
 Post Posted: Tue Jun 26, 2012 4:59 pm 
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Yipee, £72 profit today on the S&P 500. 6th profit in a row.

Could it be time to upscale?

Mmm


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 Post subject: Re: eToro Trading System
 Post Posted: Wed Jun 27, 2012 8:35 am 
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Well done Dave I hope your luck continues.

Personally I am taking a little break from trading while I re-asses my situation, plus I'm busy with other things at the moment.

Anyway well done on your progress so far. Keep us updated with how things progress for you.

_________________
May the markets be with you!

Harry,
The Spread betting beginner


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 Post subject: Re: eToro Trading System
 Post Posted: Wed Jun 27, 2012 3:52 pm 
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Joined: Mon Apr 16, 2012 10:39 pm
Posts: 22
Thanks Harry,

Another £100 profit on the s&p 500 today. Going to give it a rest while the G20 summit is on but there should be some good movement on the back of any announcements.

I'll report weekly in future, don't want to overdo the postings.

Good luck with your future trading Harry.

Dave


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