eToro is an amazing platform – you’re able to automatically copy every trade a guru trader makes. Yet people still run into problems and don’t end up making anything. Here are some of the common problems people face and my tips for getting the most out of eToro.
Start with Just two Copy Trades
Although I recommend spreading the risk of your investment in etoro as much as possible, I believe trying to find too many traders to copy right away doesn’t work. Therefore I recommend finding just two traders you have the right profile..
Look for Traders with 10-30% Growth
Traders who are experiencing growth of 100-300%+ are taking too many risks. Sure you might see some explosive growth this week, but you can very quickly lose all that. I’ve seen it time and time again. These traders build a massive following overnight and then crash and burn a couple of weeks later. And people are angry – well you’re a moron if you copy trade these guys.
Find traders who have growth between 10-30% – which is still an amazing amount, but without the crazy risk.
Look for Traders who have 70%+ Profitable Weeks
When searching for traders, order the results by profitable weeks NOT most copied. You want to find a trader who has shown regular progress over a long period of time…
Only Copy Traders with 6 Months+ of History
Don’t copy a trader who is new to the platform – no matter how awesome they are performing. You want your trader battle tested.
Spread Risk with Stocks
Stocks tend to be less volatile then forex. So it’s ok to invest in trader’s who also invest in stocks. In fact I’ve built a nice portfolio of stock traders who provide a good foundation for my earnings.