Etoro Beginners - Copytrading VS Trading

[@richardstrudwick4422]

What an intuitive and helpful person to help everyone

[@SocialTrading]

Many thanks

[@SocialTrading]

You can see the full Tutorials playlist here: kzbin.info/www/bejne/oWWbin93l6qWj5I&ab_channel=SocialTradingVlog Wow, youtube, can you really not make a shorter URL? Lordy...

[@malharjajoo7393]

Very well explained, thank you !

[@SocialTrading]

Much appreciated :)

[@LifeStrugglesUK]

I sound like a broken record but yes an excellent video as always Tom. At the end of the day it depends on the individuals knowledge and confidence of trading if they choose to copytrade or trade alone. I have done both in the past, At present im doing my own trades but as a test and its very long term. For beginners i think copytrading is the way to go , while learning the markets. Also depends on the individuals finances and how much they are willing to lose , and yes i said lose. Your looking well Tom stay safe and healthy and keep the videos coming xxx

[@SocialTrading]

Thanks again :) Much appreciated.

[@michaeljohnmercader9117]

Thank you sir i fully understand how copy trading works. Very well said 🙏💪🔥💯

[@SocialTrading]

Thank you :)

[@denijane89]

Just a warning for people who copy a copy - it's a really bad idea. I wanted desperately to copy a high-risk investor who wasn't a PI so I copied a person who was copying them. I set a proper low SL, I put more money when they were needed. And one day I saw that the copy within the copy was closed. Because you don't control how the person you copy distributes the money within the copy. So even if you think you're safe, you're not. In short, I lost $150 in one day. It was very painful. So be careful and avoid indirect copies. If you want to copy someone, either copy them directly, or not at all.

[@SocialTrading]

Yeah, that's always very risky, as you never know what the person you're copying may decide to do... Thanks for the feedback!

[@madmage4207]

As a beginner to Etoro I'm curious as to the profits you make on your copy portfolio, if you leave them don't they get re-invested by the trader? (money makes more money thought) or do people cream off the profits? If they do then won't the overall amount you're investing never actual increase?

[@SocialTrading]

Yep, you can’t take the profits AND have your same stake in the assets :) my goal was to leave the profits in the copies so they can be reinvested and be used in bigger and hopefully more profitable trades… but yeah, people do cream off their profits too. It’s a strange thing to really conceptualise - how profits in trading work.

[@jonybe5854]

That is very nice tutorial

[@itsyou.]

Excellent information - thank you. Can Etoro be used for day trading purpose, based in the UK?

[@SocialTrading]

They frown on very short term trades, but I think people do use it for day trading. Depends how short the timeframes are on your trades - I'd ask them directly for more clarification as I've seen people getting in trouble for 'scalping'.

[@itsyou.]

Thank you so much. Regards.

[@v-arts11]

Great video. Very informative 👍 Quite Unrelated to the topic but may I ask, do PDT rules apply to Etoro users?

[@SocialTrading]

I think it depends where you are - it seems that if you're a U.S customer of eToro, then yes, they will enforce PDT rules. I found the info here, and I'm not sure if it's the most up to date, but it's the best I could find: www.etoro.com/en-us/customer-service/help/1679375392/what-is-pattern-day-trading/#:~:text=Known%20as%20pattern%20day%20trading,only%20applies%20to%20securities%20transactions.

[@tobimadara6245]

When copying trades from an experienced trader, does their buying strategy apply to selling as well? Or should I personally manage the selling process to secure profits? I'm an amateur trader, so please enlighten me on the appropriate approach. Thank you.

[@SocialTrading]

Hey there, it's up to you - I copy people for their overall strategy which includes the entire life-cycle of each trade. So they decide what to buy, how much of it to buy and when to buy it, as well as whether to use leverage, and where to set 'take profit' and 'stop loss' levels, as well as when to close it manually. I leave it all to them personally, as that's my goal - to have a completely passive approach.

[@tobimadara6245]

@@SocialTrading Thanks

[@heganshrestha1262]

Love you work ❤❤

[@SocialTrading]

Thank you so much :)

[@Ashley-s3b]

Hi I'm from South Africa can I work with etoro in my currency

[@faithfullyg4509]

I want to start investing in etoro but I don't understand it. I have just started watching your video.

[@SocialTrading]

Hope it starts to make more sense :)

[@Brainrot12js]

If you copy can you choose to pull and keep the profite at any time or are we just depending on them to close and then the any profit goes into account? I find so weird even avagerage Joe blow never actually answers the questions I have on these, it's why I never invested. Can never get a straight answer to anything

[@SocialTrading]

Yeah, when you're copying someone, you can choose to stop any copied position individually, or stop the whole copy whenever you want. All the trades will then close as soon as it's possible to close them - when the exchanges they're traded on next open.

[@ConnAndTheThings]

How does etoro make money off this?

[@SocialTrading]

I’m not sure of all the ways they make money but for sure off the ‘spread fees’ we all pay them every time we open a trade and the ‘overnight fees’ we pay when we hold certain types of assets or use leverage. There may be many other sneakier ways which I don’t know about though…