Okay, so you're in your virtual portfolio, and you want to copy a new trader. So,
when you get into your virtual portfolio, first check that it's on 'Virtual'. Check
this thing is ticked, here. So, your portfolio, which is again - it's like a
sort of screen, which shows all of the active trades you have open at the
moment. Everything you're currently trading, will be in your portfolio - no
matter what it is. Now, whether it's a stock you're invested in, or a currency
or an ETF, or a person, all the people that you copy, they sort of, are classed as,
sort of, a fund... they're a copy, you know, and they're in your portfolio as separate
things - you can see how much they've made, how much they've lost. So, the first thing
you want to do... Your portfolio will be empty - is you go here - these are the main three
areas where you can buy stuff... You can either trade the markets directly, which
we're on now... you can go to 'Copy People', or you can 'Invest in CopyFunds'. So,
we're going to go to 'Copy People'. So, when you see the screen, first thing you see
is that there's a bunch of ways to - there's a lot of pictures... It's a lot like
social media - everyone's probably used to this by now, and there's a lot of areas
where you could, sort of, drill down in, and search for different people you like.
So, you can copy people from specific countries, or people who invest in
specific markets. Which is quite useful... Or, you know, you can specify how much you
want them to have gained - 10%, 20%, 30%, you know...
And, during how long? 10% in the last 12 months, or 60% in the last two years, or
whatever. You can, kind of - you can drill down, and there's an advanced search as
well, which lets you check how many copiers they've got, what's their
risk score, what's their daily drawdown - which is 'what's the maximum they've lost
in a day', or 'what's the maximum they've lost in a week' - very useful. And you can
look at average trade size... There's a few things you can look at here, in that. If
you just look at the standard 'copy people' page, though, there's also the
'Editors Choice'. So, the editors choice, at the top here, shows people who the
editors at Etoro think "yeah, we'll promote these guys - this looks like it's
a good guy to copy." So, you can look through them as well - 'Top Investors' here,
'Trending' - people who are obviously picking up more copiers recently...
The 'Most Copied' people on the site - they're here.
I'm not sure why Jay's not there... People with low risk scores, people with medium
risk scores, bla bla bla bla bla. It doesn't show people with high risk
scores for, kind of, obvious reasons. So, when you go on to someone who you want to
copy, there's another thing... You see how they
have these stars here? Stars - gold stars, blue stars, he's got a green one with a
tick - lovely green star. Those are, basically, a sort of little guide they
have. Everyone you copy - the people you copy... On Etoro, they're known as
'Popular Investors' okay. So, if you want to find out what those stars are, and how
they classify them, go here - to the 'Help' section, and go to the 'Popular Investor
Program' - do you see that one... 'Popular Investor'... And this is actually how people
sign up, or say "I want to be a popular investor - I'm doing well enough, I think
it would be good if people copy me..." If you scroll down this page, there's sort of
stuff about, you know - who accredits it and things, or who's mentioned it... But here, it
shows you what these stars are. So, the blue one is 'Cadet', 'Rising Star' is gold,
the red is 'Champion', and the green is the highest category - it's 'Elite'. And you
can see some of the requirements, you see... So, you have to have a minimum number of
copiers, to move up the ranks, or assets under management.
'AUM' means 'Assets Under Management' - what that means is - if someone says 20k AUM, it
means, if you get all the people who are copying this one person together, and all
the money they've copied that person with, it's at least $20,000 worth of
other people's money, that that popular investor is managing. So, assets under
management - 20,000. So, we'll leave that though, for now, and we'll go back to here...
to the copy people page. So, once you find someone you like, you can go into their
profile, and obviously, you see their statistics here - how well have they done
2016-2017.... Very useful - see how much, how well they've done each month. Go down,
there's their risk scores - it goes from one to ten.
I've only once seen someone with a risk score of ten - it's a solid black bar, kind of
terrifying. But that guy was trying to, obviously, learn
and change that. The amount of copiers they've got, the amount of copiers
they've added in the last seven days - so it's useful to see - do other people trust
this person? Not always the most useful, but it's useful...Their trading - how many
total trades they've done, what do they invest in... So, it just shows you the
proportion of different things this guy has 50% stocks, 31% commodities, 9% cryptos ...
blahdy blahdy blah. It's useful to see how they spread their risk.
Although that might not represent what they're trading in at the moment - that
might be over time... So, it might be that in the beginning, they did mostly stocks, and
then they did a bit of currencies, and now they're mostly - do you know what I mean - so you've got
to watch. You can go into their portfolio, and see the sort of things they're
trading right now. But ... things they frequently trade,
how many trades they make per week - which is useful when you copy a new trader, and
you don't copy open positions... I made a video about that called 'Copy open
Positions' or something - you should watch that... But if you don't copy open positions, this
gives you a rough estimate of how many times, a week, will they start using some
of that money you've copied them with... You know, because they have to open new
trades, if you don't copy open positions. Watch the video, it'll make some more sense.
So, here we are - you can see their statistics - here's their portfolio, it
shows you everything they're currently trading, at the moment. Here are all the
active trades that they have. Here, on the word 'Portfolio', you can actually click that
button, and you can go to 'History', and it will show you some of their history. So,
these are trades that they've closed in the past, and here you can select '30 days',
or 'One Year', and you can just go and see - what have they been trading over
the last year, you know - 'Show More' - what have they been trading? And 'how have they
been doing?' So, there's quite a lot of information you can, actually, get here.
I'm going to go back to his portfolio, and we can see what he's trading at the
moment. On his chart - someone told me this, and I never normally look at it, but it's
quite - actually a very useful way of seeing 'Are they growing, kind of, in a
steady line...?' 'Or are there, kind of, sudden huge dips...?' Because if you see sudden, huge
dips, it means - maybe they need to learn a bit more about risk management... 'Risk
Management' - it's basically when you - when things are profitable, and they're going
up in value, it's good to just let them go up... 'Risk Management' is
the, sort of, process by which - when things start to go down in value - you
start to lose money, you start to, sort of, cut that off so you can cut your losses...
Let your profits run, but your losses - control them, you know - get out, and set
good stop losses and things. So, on this graph, it's quite useful to see... There's
always going to be this movement - this kind of up and down movement, is the
fluctuation of the markets. Here you can see, he's steadily going up - it sort of goes
sideways there, then up, but what you want to look out for is, like, huge drops down,
down, down... Might not be the best indicator... Like mine - if you look at mine,
because I'm a noob, I'm still learning - these huge drops, because I'm still
learning about risk management - and how to stop that - how to make yourself a
bit safer, even when things turn against you. It can be done. So there we are, you've
got his feed over here, which shows, you know, what people are saying about him -
conversations he's in. And over here, you've got that, sort of, little intro, you
know - his little introduction about what he says about himself, shows his risk
score and things - quite useful. When you come to copy him, you just press the 'Copy'
button. So, I'll go back there - top right, big blue button - 'Copy'. Click that, and here
you can set any amount you want - the minimum you can copy someone with is
$100. Now, obviously - if you're in your virtual portfolio, you can copy
them with, like, you know - 100,000 - woohooo, although it doesn't matter, you
know - you're just... But, the minimum you can copy anyone with is $100.
The rest, it's up to you how much you want to put on any one person... So, I'll
put $100, or no - I'll put 500. So... I'll put 500,
and here - there's something called a 'Copy Stop Loss'... So, a normal Stop Loss - again, I
made a video about it, where I explain it much more... well, just a much better, really
explanation... But, a normal stop-loss is on an individual trade that you're making
manually. It's a way of saying you're not always going to be at your computer, and
the value may go down suddenly, and you don't want to have to be at your computer
all the time going 'Oh my God, oh my God, oh my God..." You might want to go out, and
do something - go for a walk, see some friends, go to a cafe, go the cinema - do
what you do.... You don't want to be stuck on the computer all the time. So, a stop loss
is a way of saying to the system "If it ever drops by this amount in value,
just stop the trade straightaway..." That's a normal stop-loss. "If it ever
gets to this level, cut it off..." Okay... You predefine that. A copy
stop-loss does a similar thing, but it doesn't do it with an individual trade...
The beauty of copying a trader on Etoro is that they can invest in
whatever they want - "I don't care, just as long as you're making money, I'm happy..."
"but you choose - you invest in this, or that, or this ... you open the trade when you
want to, you close the trade when you want to - that's all your problem. I'm
leaving that to you - to set stop losses on individual trades, and take profit on
individual trades. I'm leaving that to you. All I care about is that, overall, you're
making me money..." So, a 'Copy Stop Loss' says "If this trader ever loses me $100..." or any
amount of money you want to specify, "stop the copy..." You don't stop an individual
trade within that copy, because he might be trading 20 different things, you know,
and you're copying them all because... You don't stop individual trades, you stop
the whole copy - so him in general. Booom, "Close it, stop copying him if it gets
to a certain level..." It's quite useful. Here, there's the 'Copy Open Trades'
button - I made a video about whether you should tick the copy open trades button
or not, when you copy someone. So go and watch that, because it's quite a long
explanation, and it's a little bit - there's a few things, which are important
to understand about it. Right now, I'm going to leave it open - copy open trades...
And you just... so I'm copying this guy, MrThor7734
with $500. The copy stop-loss - let's say, let's put it at 400.
So, if the value drops below 400, which is 80% - stop copying him. I'm willing
to risk 100 on this guy. I'm going to copy his open trades - boom. Copy. Done.
So now - remember his name, MrThor773. If I go to my portfolio, there he is - MrThor773.
The reason I've lost money, is because of spread fees. 'Spread Fees' are a
little charge that Etoro charges on every trade you make, and because I
copied his open trades, I've just opened all of these positions... These
are all the positions that Thor had - MrThor had in his portfolio.
So, I've automatically just opened all of those as well - you
know, in the same proportion that he opened them with. So, if he had $1000,
and he made a trade with 10%, then I put in $500
I've made a trade with ten percent as well - $50. So, it copies
it - it just copies the proportion, but because of the spread fees, on all of
them - look, there's little spread fees on all of them, and so, that's eToro taking it's
little bit of money. All exchanges do it. All exchanges take spread fees.
Go and watch the video on spread fees, because I explain it better...
But, you can find him, in your portfolio - there he is. These are
all people I copied much earlier on, in my virtual portfolio. He's there now, and
from here you can add funds, remove funds, pause the copy, set a copy stop-loss -
you can edit that copy stop-loss at any time, whilst it's open - you can click on
it, and you'll go into it, and you can see what he's trading. If you want, you can close
individual trades, like - here 'Sell NASDAQ' - I'm going to close that one. Boom, so I've
closed that one. I wouldn't though - I wouldn't do that... I did initially, and the
thing is - if you're going to copy someone, the whole goal is to trust them to do it...
The whole goal is to trust them. If you go in, and micro-manage individual trades
you've copied in their name, you know... Unless it's an extreme circumstance,
that can get difficult, you know - because what you want to look at, is you
want to look at someone, where you can trust them with your money, and just
leave them alone. That's the beauty of it - just leave them alone, and they make you
money. Wonderful. So, there we are. If you're
in 'virtual', or if you're in your real account, that is the same process
for copying a new trader. So, practice it in virtual - get used to how
these things work, get used to looking at all these things. So, if I want to add
funds, I just go here, and I can add another $100 to him. It will
automatically change my stop-loss. Here, look - 'Amount updated to 597.05
My copy stop-loss has also been updated. So, the system does it
automatically, and I can remove those same funds, with the same ease. When you
add funds, or remove funds from a copy, there's no charge, you know. When you
bring money in to Etoro, there's charges. When you take money out
of Etoro, there's charges. But within the system,
there's no charge for copying someone, for adding funds to that copy, for
removing funds from that copy. It's free, and there's no management fee to
MrThor - we don't have to pay MrThor for copying him. Etoro pays him, so it's
all good. It's a great system, and it's very simple to do. So, whether you're
doing the virtual portfolio - get used to it in the virtual portfolio, because
when you move into the real portfolio, it's the same process - this is exactly
the same. So, that is how you copy a new trader in Etoro, in your virtual
portfolio.