TheSnapper $1 317,10 $198,00
Etoro $500,00
MrQ's Tips $82,51
Reserves $1 501,40
Total Funds $3 401,01 $198,00
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I have been busy lately checking out EToro. It's a Forex trading site with some really cool features. Etoro allows you to copy the trades of other traders. It allows you to use a portion of your bank which will mimick the trades of others. What's cool is that you can allocate a small amount of your bank, say $25 or $50 to start with, which is only used to follow that trader. In effect, it allows you to set up a virtual trading office by "hiring" other traders, and "firing" them if they don't produce results for you. (George Soros would love it!)
Of course, you can make your own Forex trades, and you are entered into daily, weekly and monthly competitions for big cash prizes. Other traders may copy you and you can become a famous trading guru and get prizes for that. A lot of fun.
You can also set up a practice account to check it out for free. I set up a practice account and I use it as a "minor team" to check out potential traders I want to "hire" for my real account.
It's unique in the Forex world because you can actually just handicap other traders, without making any trades yourself.
Your account can also be active around the clock. Those traders you "hired" will be working while you are sleeping.
Another great feature that I have noticed is that the "account" for each copied trader within your account accumulated profits and compounds them. So, if a trader makes a profit, his next trade will include that. In effect, you have a compounding effect. You can also have Darwinian evolutionary effect --- your crappy traders get starved of funds, and your shining stars get more and more funds to invest. Super.
Anyway, I'll update the progress on that. It's great for me because I have no time to sit and trade Forex. It allows you top get involved for a very small bank, so there's not much risk involved.
YOu can also get some sign-up bonuses, over 25% of your deposit and there is a referal program -- use a referal code from me ands you get $50 and I get $100 (contact me by personal message if you want to receive this referral bonus).
Just a couple of tips: 1. Check out the traders you are hiring. Check out their history and style. Make sure it suits your risk tolerance. 2. Don't give much to each trader, copy a few for 10% of your bank each. Spread the risk around. 3.Always look around for new "talent" for your team. Don't copy a trader just because he has been hot for a week. Find long-term winners to add to your team.
Anyway, let me know if you are interested. Here is a picture of my practice account and the traders I have copied, some of them are in action. This is all for virtual money.
