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  • #21
  • Edited 9:12am Apr 9, 2014 7:08am | Edited 9:12am
  •  aBaxs
  • | Joined Jan 2011 | Status: http://www.socialtrading-aula.com/ | 72 Posts
Hey,

I found two interesting studies about social trading (eToro). They examined data from social trading platforms and give an evidence for social trading.

The first study is from the MIT Media Lap in Cambridge by Wei Pan, Yaniv Altshuler and Alex (Sandy) Pentland. In their study they discover that generally social trades outperform individual trades.

Quote
We discover that generally social trades outperform individual trades, but the social reputation of the top traders is not completely determined by their performance due to social feedback even when users are betting their own money. We also find that social influence plays a significant role in users’ trades, especially decisions during periods of uncertainty. We report evidences suggesting that the dynamics of social influence contribute to market overreaction.

Here is the Link to the paper: Decoding Social Influence and the Wisdom of the Crowd in Financial Trading Network


The second paper is from the university Bochum in Germany by Neumann, Paul and Doering. They showed that social trading is similar with investing in small money hedge funds.

Quote
Using a unique data set comprising transactions from four social trading platforms, we find that following traders on social trading platforms is similar to investing in a small money hedge fund. Returns on social trading platforms are characterized by negative skewness and leptokurtosis. In contrast to hedge funds, however, we find no evidence for the hypothesis that these characteristics can be attributed to the use of derivatives, but to the trading behavior of signal providers.

Here is the Link to the paper: A Primer on Social Trading – Remuneration Schemes, Trading Strategies and Return Characteristics
  • #22
  • Sep 12, 2014 11:33pm Sep 12, 2014 11:33pm
Hello All,

I never traded in my life and dint even know about buying and selling that could be done, i thought you can buy shares and hope they go up and then close but then someone introduced me to forex and i was WOW!!!.

But still i dint know what to do and how, so i joined Etoro and from day one i deposited real money and started copying people.

now its been 7 months and iv had my ups and many many downs on etoro, there are many things i don't like about etoro but reason im still with them -

1) Fixed fees on each trades
2) Very user friendly platform on Mobile (i do 100% of trading with mobile phone)
3) get to meet many good people on there like facebook

things i don't like about them -

1) Mobile app don't open/close trades, also cant move stop loss/take profit, you have to log out and then it wont let you log in for 10-30 min
2) they rig there price action, i.e if your stop loss it just near by, i will go that extra pips high or low just to take you out and then get back with the market

i dont want to list everything down as ill be here all day.

BUT!!! one thing i will say, one i lost huge and i mean huge amount on 4 trades which was not going in my favor, i kept topping up my stop loss for weeks only for app to stop working and i could not top up my stop loss, then it took me out and went in my favor only to get into my profit zone.

i sent them a email stating the issue and they reply by saying there server was fine and they could not do anything about it, but good thing was i sent a message on there openbook stating the issue when it happened so they know i could get online but not on there app.

they ended up giving all my money back with profit.

i know they have high spread and fees are high too but i think i too used to there app so i wont be moving away, but hope they do improve on there spreads and fees. Most of all, improve the app to work better

best of luck to you all and im still on etoro if you would like to follow or chat to me on there - prits187
  • #23
  • Sep 13, 2014 4:59am Sep 13, 2014 4:59am
you know you are doomed when you learn forex through babypips then you start copy trading using etoro . lol
  • #24
  • Sep 13, 2014 7:44am Sep 13, 2014 7:44am
Quoting ericnyamu
you know you are doomed when you learn forex through babypips then you start copy trading using etoro . lol
Don't speculate trade with surety.
  • #25
  • Oct 5, 2014 5:12pm Oct 5, 2014 5:12pm
Thanks for the heads up guys. I was starting to get a little excited about etoro, but even though I've only just recently registered, I've already noticed how sluggish the platform really is. Coupled with the reports of malfunctioning, I can't say that I have much faith in etoro in delivering a quality service. To me, Zulutrade looks to be a much more feasible option.
  • #26
  • Nov 22, 2014 3:00am Nov 22, 2014 3:00am
  •  aBaxs
  • | Joined Jan 2011 | Status: http://www.socialtrading-aula.com/ | 72 Posts
Quoting TrendyTrade
Thanks for the heads up guys. I was starting to get a little excited about etoro, but even though I've only just recently registered, I've already noticed how sluggish the platform really is. Coupled with the reports of malfunctioning, I can't say that I have much faith in etoro in delivering a quality service. To me, Zulutrade looks to be a much more feasible option.
Could you recommend any good trader at ZuluTrade at the moment? By now I think eToro has more trader I would like to follow.
  • #27
  • Nov 29, 2014 8:36pm Nov 29, 2014 8:36pm
Quoting aBaxs
{quote} Could you recommend any good trader at ZuluTrade at the moment? By now I think eToro has more trader I would like to follow.
There's a few factors to consider, such as Maximum Drawdown (low relative to others..below 10%), Best Trade, Worst Trade (best larger than worst), Necessary Minimum Equity (low if you start with a small account size), a nice steady upward profit equity curve, number of followers, number of profitable pips, and $ amount following.

Sometimes the most popular trader to follow may not meet your criteria based on your account size and risk allowance.

To answer your question, because my starting balance was only $200.00 I am currently following PooTumVV and RichFXwithMe.

You should also bear in mind that your role will be to MONITOR the performance of those you are following, and be willing to replace them if they breach your risk tolerance. For this, you should also familiarise yourself with Zuluguard, under Settings.
  • #28
  • Nov 29, 2014 9:22pm Nov 29, 2014 9:22pm
Quoting TrendyTrade
{quote} There's a few factors to consider, such as Maximum Drawdown (low relative to others..below 10%), Best Trade, Worst Trade (best larger than worst), Necessary Minimum Equity (low if you start with a small account size), a nice steady upward profit equity curve, number of followers, number of profitable pips, and $ amount following. Sometimes the most popular trader to follow may not meet your criteria based on your account size and risk allowance. To answer your question, because my starting balance was only $200.00 I am currently following...
why not learn instead of copy when you copy you don't learn
people leave, but this thread will go on for ever
  • #29
  • Nov 29, 2014 9:39pm Nov 29, 2014 9:39pm
Quoting entheos
http://youtu.be/9lOx50239MM
etoro? you kidding me? been filing tow different cases against them and won one already using paypal dispute money
Let me fill my acount wallet then will take Ur advice
  • #30
  • Nov 29, 2014 10:07pm Nov 29, 2014 10:07pm
Quoting feather
Hi Everyone, I have started this thread because i have not been able to find any decent reviews on etoro, well any up to date reviews. There are some here and there but not much information. I have been trading with them for over 1 year and have not had any problems. The only thing that bothers me is their charting platform in which i don't use, and their large spreads which to their credit are fixed, and their are no swaps. So I can justify their large spreads due to those reasons. I really enjoy the interactive side and the copy trader as it gives...
sorry for my add but i consider etoro as big scammers
  • #31
  • Dec 2, 2014 6:30pm Dec 2, 2014 6:30pm
whatsup etoro any new posts in website? any luck trapping more traders and getting referrals and kick them off?
Let me fill my acount wallet then will take Ur advice
  • #32
  • Apr 4, 2015 6:08am Apr 4, 2015 6:08am
Goodday folks,

Can i ask some questions about etoro

1. The maximum earnings a signal provider can earn is only up to $10,000 right?
2. Are their spreads normally fixed?

Cheers folks
  • #33
  • Jul 7, 2015 5:39am Jul 7, 2015 5:39am
I was one of their first members and have seen them as they grew. first they increased the cost of spread, then the price of trades, then minimum deposit. then they increased the minimum trade to $25 , this now makes it a dangerous site for newbies or small traders to trade. I was fuming, I met yoni(the ceo ) and his brother in london and they openly admitted, we do not want small traders,only rich ones, even when i reminded them, it was us small traders that got him where he is now, that built up etoro, that lots of affiliates are now losing sign ups, cause its too expensive.. He then lied to me and said he may drop the minimum trade to $10 , but , of course has not.. The man is greedy, arrogant and a liar .. Now he thinks his above all , because ooh we are sponsors of a football team,, we do not need small traders now.. never trust a company that only has itself in mind, and who has a liar for a ceo and stabs all small traders and new traders who helped built up his company, in the back.
Now they are just pure greed, no loyalty to the small traders , push them out and only want the rich ones...
  • #34
  • Jul 7, 2015 6:48am Jul 7, 2015 6:48am
Quoting funkymover
I was one of their first members and have seen them as they grew. first they increased the cost of spread, then the price of trades, then minimum deposit. then they increased the minimum trade to $25 , this now makes it a dangerous site for newbies or small traders to trade. I was fuming, I met yoni(the ceo ) and his brother in london and they openly admitted, we do not want small traders,only rich ones, even when i reminded them, it was us small traders that got him where he is now, that built up etoro, that lots of affiliates are now losing sign...
every broker wants to get rich and not very successful traders, but the company mustn't forget about simple traders. They have to provide the same service to all clients. If company do so, then they are really honest and reliable company. I know what do you feel, and if you have more words to say, I will be glad to see you here ^)
  • #35
  • Jul 11, 2015 4:57pm Jul 11, 2015 4:57pm
E-Toro is ok. Their platform can put a smile on your face.
  • #36
  • Jun 19, 2016 1:00pm Jun 19, 2016 1:00pm
e-Toro has some good things going for them, but also some questionable things that might cause you to look the other way:

Good:
- social / copy trading: some people love this, and this is one of the better platforms to do this kind of trading with
- simple easy to use interface. Some people think the simplicity means you are not capable of good analysis. However, inside the charting feature you can add a wide variety of studies, ie indicators. I think it is plenty powerful, it is just that people are used to crappy outdated interfaces like MT4.

Bad:
- copy trading: it is actually much harder to do well copy trading in the long run as what most people think
- eToro has been fined by CySEC, their regulator, for not properly following the forex laws in Cyprus. Some say the laws in Cyprus are already pretty lax, so to get fined is no small feat.
- The spreads are much wider than the spreads you can find with other brokers these days. Definitely not for frequent traders or traders who hold their positions for short time frames.

A couple of recent reviews: first, second
  • #37
  • Jun 20, 2016 10:37am Jun 20, 2016 10:37am
I have followed etoro for a long time.

For what I have seen most trader there fail.

No long term profitable trader are know on the social trading platform.

ironically eToro provided a public proof that most traders do actually loose money...


Even if on the short term a lot of traders looks profitable on the long term the survival rate is actually zero.
Buy at the Low, Sell at the High You make money by waiting not by trading.
  • #38
  • Jul 6, 2016 2:51pm Jul 6, 2016 2:51pm
I tend to agree with you that most traders fail. They are quick to post the results of traders, however:

  1. The performance filters only go up to 2 years, and have many screening levels for shorter time periods. A copy trader should not be interested in how somebody performed last month, but how somebody performed over many years.
  2. Selecting the default screening filters for the 2 year time period returned 160 results. That means out of the > 100,000 traders (without filters), less than 0.2% made any real money over a two year period without taking massive risk or getting lucky with a handful of trades.


Zulutrade used to publish the performance of traders who were copying others, but the results were so poor that even the best traders didn't get very good results and the overwhelming majority lost money -- even when copying so-called successful traders.

Best to stay away from copy trading.

  • #39
  • Jul 9, 2016 2:52pm Jul 9, 2016 2:52pm
Quoting feather
Hi Everyone, I have started this thread because i have not been able to find any decent reviews on etoro, well any up to date reviews. There are some here and there but not much information. I have been trading with them for over 1 year and have not had any problems. The only thing that bothers me is their charting platform in which i don't use, and their large spreads which to their credit are fixed, and their are no swaps. So I can justify their large spreads due to those reasons. I really enjoy the interactive side and the copy trader as it gives...
@feather eToro is probably the most expensive broker I had ever seen.
militarymonk
  • #40
  • Jul 22, 2016 12:38am Jul 22, 2016 12:38am
was looking through the thread, this was a popular broker, was wondering what happened!!
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