I've added this video to my 'Taking Profits From Copytrading' Playlist which has more info if you're interested :) (Please forgive the clinking bracelet... I know....) ruclips.net/video/UZ9F2F42vvI/видео.html&ab_channel=SocialTradingVlog hope you're all really well! :)
Hey Tom, very informative video as always. Just a quick note, if you really want your money without seeing the pending close because one trade might be waiting for the Hong Kong market to open, simply pause the copy and close all the trades manually. This way you get all your money from trades where the markets are open and the rest a few days later. Then close the copy.
great set of videos - when you choose a trader to copy - do you always select "copy open trades". dont you think this might be a negative? they may have bought a stock for a much lower price months back, but now its a lot higher and your going in at a higher price? - if i was to copy any traders, i would only want to copy future trades - thoughts on this?
Hey there - you can't do it anymore. They got rid of the 'copy open trades' option, and now it automatically copies all open trades every time we copy a new trader. And if we add or remove money from an existing copy, it does an automatic re-alignment to make sure our copy is mirroring their portfolio as closely as possible. It changed fairly recently...
Good morning Social Trading I have a question loosely related to this video that I can't test myself because I am still in virtual mode. It relates to long term copy trading. If I copy a successful trader how can I increase the stop loss if the capitol has increased and if I subsequently add extra money to the same trader does this new stop loss apply to all the funds in that copy? DFH
Hi Tom your videos are amazing! Please can you do one on how UK investors can withdraw money without getting screwed on forex fees which seem super high?! This would be so helpful and I can’t find an answer online. There is an option to use your debit card instead of a bank transfer - do you happen to know if I can have it sent to my Monzo card and receive the full amount for free (as with Monzo there is no cost to use debit cards abroad)?
Hey there - firstly thanks. Secondly, I just don't know, I'm really sorry. I haven't taken money out in ages so haven't had to come up with work-arounds for that yet :) Are the exchange rates really bad compared to other providers these days? I remember in the past they were roughly in line with everyone else. Not sure about a Monzo card - I'm not familiar with that at all... I wish I knew what to tell you there!
how do you mean? When your stop loss gets triggered, your money (minus losses/fees or plus profits) should be returned to your available balance so you can open future trades with it or withdraw it... That's if you're manually trading. If you're copying and use the 'pause copy' feature, you can 'resume copy' whenever you want to. I'm not sure exactly what you're meaning here, but it's been ages since you asked this, so I reckon you've probably worked it all out by now :)
can you see a traders open orders on etoro as well? if someone I am copying places an order, does that order get copied on my account? Or does my account only place an order once the traders order is filled?
I'm not sure actually... That's a good question. I generally have used copy trading as a copy-and-forget type of system, so I've never wanted to screen their orders or anything, and I've never checked.
Hi Tom, if I found a good copy trader and want to invest Rm1000, in the platform if I don't tick on "Copy Open Trades", is it mean that I won't open all the trades at the point of time, and will only open new trade when the Copy Trader has new open trade?
Hi there - yeah, if you don't tick the 'copy open trades' button, then you'll start copying all the trades after the point at which you copied them. So if you copy them, and 5 minutes later they open a trade, that's the first one you'll copy and see in your portfolio. Clicking 'copy open trades' means you'll copy all the ones that trader had open before you started copying them.
Hi there - no, it stays within that copy - so it basically becomes like you're copying them with a higher amount. To move some of that money which you're copying them with to your available cash, you need to remove it from the copy first. It's designed to be a passive system where you can just copy someone and they'll automatically re-use any profits they make you in their future trades...
@@SocialTrading Thank you. I left my etoro for 1 year and I was suprise that I have a cash available. I can't remember how it got there. Still negative for 2 years, what will you advise? I'm copying 4 traders.
@@edwardwong1642 Hey there - up to you :) Depends if you want to leave it in there and see how the traders do... It could have come from a dividend payment maybe. It could be that one of the traders you're copying was holding a stock which received dividends, so they've paid that to you in your available cash directly... I can't remember if dividends from copied positions go back into the copy or get paid directly to our available balance, but I think it could be direct to our available balance which might explain where it's come from.
@@SocialTrading I clarified from etoro and they said that the profits does not proceed with the available cash. It seems like the dividends are also invested back. I don't know how long can I keep it though it's just 2 years I guess. I just hope that in 3 years time I will see a green 😬
Yeah, it can mean that their new trades won’t be copied in your account if you take out all of the available funds… it depends how much you leave them available to trade and how big their normal position sizes are… You may be able to add money back later on before trades stop getting copied but that’s certainly the risk.
@@SocialTrading I thought if I add money, I just increase the copy amount? Like e.g. the trader invest 700 of 1000. I copy with current positions for 100 (so 70 invested, 30 cash). Now I add 100 with copy current positions => so I have 140 invested, 60 cash on the trader. Let's assume I took 60 cash away. If I invest 60 without copy current positions, what happens? The missing cash will be filled first? If I invest 60 WITH copy current positions, what happens with the missing cash? I didn't understand complete the calculations and actions in this cases 🤔 can you explain maybe?
I've added this video to my 'Taking Profits From Copytrading' Playlist which has more info if you're interested :)
(Please forgive the clinking bracelet... I know....) ruclips.net/video/UZ9F2F42vvI/видео.html&ab_channel=SocialTradingVlog
hope you're all really well! :)
Hey Tom, very informative video as always. Just a quick note, if you really want your money without seeing the pending close because one trade might be waiting for the Hong Kong market to open, simply pause the copy and close all the trades manually. This way you get all your money from trades where the markets are open and the rest a few days later. Then close the copy.
A genius observation sir! Thanks, I’ll pass this on :)
It's always nice to hear from you Tom. Thanks for taking the time to make these videos!
Thanks so much, that's really kind of you :)
good to see new vid always fun watching you talking about things
Cheers Peter :) Much appreciated
great set of videos - when you choose a trader to copy - do you always select "copy open trades". dont you think this might be a negative? they may have bought a stock for a much lower price months back, but now its a lot higher and your going in at a higher price? - if i was to copy any traders, i would only want to copy future trades - thoughts on this?
Hey there - you can't do it anymore. They got rid of the 'copy open trades' option, and now it automatically copies all open trades every time we copy a new trader. And if we add or remove money from an existing copy, it does an automatic re-alignment to make sure our copy is mirroring their portfolio as closely as possible. It changed fairly recently...
Good morning Social Trading
I have a question loosely related to this video that I can't test myself because I am still in virtual mode. It relates to long term copy trading. If I copy a successful trader how can I increase the stop loss if the capitol has increased and if I subsequently add extra money to the same trader does this new stop loss apply to all the funds in that copy? DFH
Refuse to go to bed after my 16 hour night shift until ive watched your video x
:)
Hi Tom your videos are amazing! Please can you do one on how UK investors can withdraw money without getting screwed on forex fees which seem super high?! This would be so helpful and I can’t find an answer online. There is an option to use your debit card instead of a bank transfer - do you happen to know if I can have it sent to my Monzo card and receive the full amount for free (as with Monzo there is no cost to use debit cards abroad)?
Hey there - firstly thanks. Secondly, I just don't know, I'm really sorry. I haven't taken money out in ages so haven't had to come up with work-arounds for that yet :) Are the exchange rates really bad compared to other providers these days? I remember in the past they were roughly in line with everyone else. Not sure about a Monzo card - I'm not familiar with that at all... I wish I knew what to tell you there!
I noticed that when I "stop copy" I'm given the option to keep the copied positions open. Could you explain this to me please?
Check out my last vid to see the explanation!
Pretty informative. Good job !
Thanks Andrei :)
After stoping loss , how can you resume trade when things are good.
how do you mean? When your stop loss gets triggered, your money (minus losses/fees or plus profits) should be returned to your available balance so you can open future trades with it or withdraw it... That's if you're manually trading. If you're copying and use the 'pause copy' feature, you can 'resume copy' whenever you want to. I'm not sure exactly what you're meaning here, but it's been ages since you asked this, so I reckon you've probably worked it all out by now :)
can you see a traders open orders on etoro as well? if someone I am copying places an order, does that order get copied on my account? Or does my account only place an order once the traders order is filled?
I'm not sure actually... That's a good question. I generally have used copy trading as a copy-and-forget type of system, so I've never wanted to screen their orders or anything, and I've never checked.
Yes I have trade on etoro.... it's profit is amazing no doubt 🤗
Glad it's been going well!
Sure it's working perfectly
Hi Tom, if I found a good copy trader and want to invest Rm1000, in the platform if I don't tick on "Copy Open Trades", is it mean that I won't open all the trades at the point of time, and will only open new trade when the Copy Trader has new open trade?
Hi there - yeah, if you don't tick the 'copy open trades' button, then you'll start copying all the trades after the point at which you copied them. So if you copy them, and 5 minutes later they open a trade, that's the first one you'll copy and see in your portfolio. Clicking 'copy open trades' means you'll copy all the ones that trader had open before you started copying them.
@@SocialTrading Thanks a lot for clarification!
Hello I am new on this but i do not know how to operate the system
Hi there - I've tried to explain what I've found in my videos, but I know there's loads I've missed...
When the trader that you copied took profit on a trade, does it automatically go to your cash available?
Hi there - no, it stays within that copy - so it basically becomes like you're copying them with a higher amount. To move some of that money which you're copying them with to your available cash, you need to remove it from the copy first. It's designed to be a passive system where you can just copy someone and they'll automatically re-use any profits they make you in their future trades...
@@SocialTrading Thank you. I left my etoro for 1 year and I was suprise that I have a cash available. I can't remember how it got there. Still negative for 2 years, what will you advise? I'm copying 4 traders.
@@edwardwong1642 Hey there - up to you :) Depends if you want to leave it in there and see how the traders do... It could have come from a dividend payment maybe. It could be that one of the traders you're copying was holding a stock which received dividends, so they've paid that to you in your available cash directly... I can't remember if dividends from copied positions go back into the copy or get paid directly to our available balance, but I think it could be direct to our available balance which might explain where it's come from.
@@SocialTrading I clarified from etoro and they said that the profits does not proceed with the available cash. It seems like the dividends are also invested back. I don't know how long can I keep it though it's just 2 years I guess. I just hope that in 3 years time I will see a green 😬
Etoro is working perfectly good I left my etoro....since a friend reffer me to a trading platform am also earning massively every 24 hours
What are consequences of 'remove cash'? New trades will not be opened?
Yeah, it can mean that their new trades won’t be copied in your account if you take out all of the available funds… it depends how much you leave them available to trade and how big their normal position sizes are… You may be able to add money back later on before trades stop getting copied but that’s certainly the risk.
@@SocialTrading I thought if I add money, I just increase the copy amount?
Like e.g. the trader invest 700 of 1000.
I copy with current positions for 100 (so 70 invested, 30 cash).
Now I add 100 with copy current positions => so I have 140 invested, 60 cash on the trader.
Let's assume I took 60 cash away.
If I invest 60 without copy current positions, what happens? The missing cash will be filled first?
If I invest 60 WITH copy current positions, what happens with the missing cash?
I didn't understand complete the calculations and actions in this cases 🤔 can you explain maybe?