If you’re not an experienced trader, trying to make trades on your own is both risky and difficult. So what if you could automatically copy the trades made by more experienced traders? Well now you can. In this post i’m going to show you how to copy trade as well as suggest 3 traders that might be of interest to you in 2019.
Remember that past performance is not a reliable indicator of future performance. So do your own research and invest wisely.
How to Copy Trade
eToro is a copy trading platform. You can browse through the profiles of traders, see the previous trades they’ve made and how profitable they’ve been. But most importantly you can automatically copy every trade they make.
Here’s how to copy trade on eToro:
- Sign up with a free account here (66% of retail CFD accounts lose money)
- Make a deposit. You can try copy trading using virtual money, but if you want to invest, you’ll need to deposit at least $200.
- Find traders to copy and allocate funds. Now whenever their trading account makes a trade, your account will too.
3 Traders to Copy in 2019
This trader has been trading on eToro since 2016. And he’s made a positive return each year. As you can see last year he made a 10% return – which in the super bearish market of 2018 was very impressive. He has a lower risk approach to trading with a risk score of just 3. He trade currencies and commodities (gold).
This trader has been on eToro since 2015. And has seen a positive return each year of trading. Last year he had a massive return of over 20%. He trades a mix of assets including indices and ETFs. So if you’re looking for an ETF trader to copy, this could be someone to look at. What I really like about his trading style is he doesn’t keep losing trades open. He’s disciplined and knows how to cut losses and ride out winning trades.
I’ve written about FabianMarco before. He seems to be a solid trader who trades a big mix of markets including indices, stocks, currencies and ETFs. Last year he delivered a return of over 38%. He has a low risk score of just 3. So he’s using small amounts of capital to open each trade. Expect each trade to be open for over a month.
Test these traders out with a practice account
When you signup to eToro (which is free), you get a $100k virtual trading account. You can use this account to manually trade or copy trade. So you can copy all of these traders using virtual money and see how they would perform. It’s a great way to understand how copy trading works without having to risk any real money.