There are a lot of benefits to copying other traders on the eToro platform, since your money is in the hands of people who know what they’re doing. We’ve gathered five interesting choices for you to consider looking at.
If you’re an online trader, you might already be familiar with eToro’s Copy Trading feature. In short, Copy Trading enables you to use other investors’ experience to manage your investment portfolio.
By using copy trading you gain insight into the trading world, while raising your chances of turning a profit.
What is Copy Trading
You must know by now that being good at online trading is not about luck, it’s about knowing to read statistics, following trends and understanding the market.
If you make the analogy to poker, it’s like Matt Damon’s character Mike McDermott said in the movie Rounders: “Why do you think the same five guys make it to the final table of the World Series of Poker every years? What, are they the luckiest guys in Las Vegas?” No, they’re simply people who know what they’re doing.
With Copy Trading, you can use an online trading platform to allocate some (or all) of your funds to automatically follow the investments made by seasoned investors, copying every transaction they make.
You can choose a trader whose investment style you like, judging by their track record, portfolio, and risk management. You can even choose several traders and copy all of them, spreading your funds across several accounts.
The great thing about using eToro is, you can experiment with Copy Trading with virtual money at first, to see if you get good returns, before deciding to use real money.
If you already have an eToro account and you wish to use the Copy Trading feature, here are a few traders you might want to copy:
1 - Ricardo Couchinho: Playing It Safe
Meet @rixardpt, or Ricardo from Portugal. Ricardo says that he is not in it for making a quick profit, but rather, his proclaimed goal is making a 50% profit every year.
So far, Ricardo is on the right track, registering a profit of 41.94% over the last three months.
He usually deals in currencies, but has also invested in indices and commodities. With a risk score of 3, which is relatively low, Ricardo is a pretty good option to consider.
2 - Ioannis Dontas: The Moderate Doctor
A general surgeon by trade, @GiannisDontas has had an impressive track record, showing nothing but profit month-over-month in 2016.
While not turning a huge profit percentage-wise, Ioannis seems to know what he’s doing, investing in currencies and commodities.
Sometimes he chooses high-risk transactions (which is why his risk score is 6), but with more than three years’ experience on eToro, and a proven track record, he might be a good option for Copy Trading.
3 - Audrey Chantal Maury: The French Connection
Outspoken and not afraid say her mind, Audrey Chantal AKA @FranceRealEstate seems to know a thing or two about day trading.
She has her ups and down, but overall has had a successful year so far, investing in currencies, indices and commodities and registering an overall profit of 34.4%.
With close to 300 copiers, and a low risk-score of 3, this French lady could be an interesting addition to your eToro portfolio.
4 - Sameerah Sultana: The Forex Guru
With almost three and a half years on eToro and more than 1000 followers, @sameerah786 is a force to be reckoned with. Hailing from India and a dentist by trade, Sameerah deals exclusively in currency exchange.
Her forex track record has shown that she can produce nice returns year-over-year - and stays on course, even when she has a couple of bad months.
Despite showing only moderate returns this year (standing at 11.3% at the moment), both of Sameerah’s last two years on eToro proved to be profitable, and you could consider copying her for long-term low-risk returns.
5 - Kenneth Mowat: The British Rock Star
In just over a year on eToro, Kenneth AKA @Simple-Stock-Mkt has established quite the following, with nearly 2500 copiers.
Kenneth’s investment style is low-risk and very diverse, investing in currencies, indices, commodities and stocks. Kenneth says that his aim is low-risk, long-term equity growth, which matches his trading style and output, making a profit of 7.93% thus far this year.
However, he finished last year with a 33.24% profit, composed of four low-yield months, one losing month and one huge month, meaning he does take risks - but his track record shows that he usually makes good decisions.
* All trading involves risk. Only risk capital you're prepared to lose.
* Past performance does not guarantee future results. Trading history presented is less than 5 years and may not suffice as basis for investment decision
*This post is not investment advice.
All figures shown are as of 5.9.16. The latest data can be seen on the trader's profile page.