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How to choose who to copy traders on eToro?

By copying other investors on the platform, traders can save time and effort by monitoring their trading positions, thanks to CopyTrading, the most well-liked and unique feature of eToro. Each investor differs from the others in terms of asset selection, approach, and outcomes. It can be not easy to decide who to copy, but there are some general considerations you might want to keep in mind. Trading studies tell that etoro considered as a low-risk platform.

One thing to remember is that the decision of who to copy is ultimately personal. It depends on your risk tolerance, desire to concentrate on a particular market or group of assets, choice of particular trading tactics or methods, and other factors.

The following advice is a broad consideration of some variables you might take into account while choosing CopyTraders, but ultimately the decision is entirely up to you.

Investor Profile

A trader’s profile provides a basic overview of their trading style, background and investing experience, trade analysis type, trading objectives, and desired results. You should be able to determine from the profile of the trader’s investing horizon, style, and trading philosophy align with your objectives.

Instead, some traders could favor day trading with a somewhat high level of risk to gain quick profits. The decision, therefore, comes down to whether you want to invest for the long term with slow growth in profits or take on higher risk with the potential for a quick return. Remember that riskier positions include higher risks of both making a profit and a loss. According to etoro copy trading review it is authorized by the CS and Exchange Commission.

The trader below, for instance, quickly explained their approach in a sentence while outlining their objective, investing horizon, and style of analysis.

Another source of data on copy traders’ trading behavior is a feed where they post updates or other critical information for copy traders to monitor their performance or stay updated on any significant changes to the trading strategy. Additionally, you may view the remarks and responses of other traders to particular decisions.

Amount of copiers

As a social trading platform, the community frequently assists one another by expressing their views on investors. Mainly if it is a long-lasting relationship, the quantity of copiers a CopyTrader has is highly suggestive of how much people trust them. Do keep in mind, however, that a trader is not automatically an excellent trader just because they have a lot of copiers. 

How so? The traders who didn’t set a stop-loss for that CopyTrader might still be following them even if they lose most of their trades (say, being at a 90 percent loss overall). You can also narrow down your options based on AUM (amount of money invested in a trader), which may be a more accurate measure of a trader’s popularity because it reveals how much money investors are willing to put their trust in a particular CopyTrader. This also addresses the issue of copying traders without a stop-loss. Failing Copy Traders are more likely to have a lower AUM rank and less money allocated to copy them. copy trading etoro is that copy trading can result in high profits if the trader finds a successful trader to copy. 

How do I decide which eToro users to copy?

By copying other investors on the platform, traders can save time and effort by monitoring their trading positions, thanks to CopyTrading, the most well-liked and unique feature of eToro. Each investor differs from the others in terms of asset selection, approach, and outcomes. It can be not easy to decide who to copy, but there are some general considerations you might want to keep in mind.

selecting CopyTrader on Etoro

One thing to remember is that the decision of who to copy is ultimately personal. It depends on your risk tolerance, desire to concentrate on a particular market or group of assets, choice of particular trading tactics or methods, and other factors.

Ethan More
Hello , I am college Student and part time blogger . I think blogging and social media is good away to take Knowledge