Description
Transcript
Hi again.
In previous videos, we learned just how valuable and practical CopyTrading can be.
Now’s the time to go a little deeper and figure out how to use it.
[How much money should I CopyTrade with?]
The minimum amount required to copy a single trader or investor is $200.
Anything over that is up to you and your investment strategy.
[How do I choose which investor to copy?]
Let me answer your question with another question:
How hungry are you?
Yeah, I could go for a pizza too.
But what I mean is – what’s your risk appetite?
Some of the top investors are more daring with their money, while others are more cautious.
Here’s another question:
What type of assets are you looking to invest in?
Some investors like stocks and ETFs, others specialise in commodities, currencies, crypto…
You can probably guess where this is going:
You should choose investors to copy according to your investment needs.
That’s why we at eToro made investors’ portfolios open and available to all users.
Go ahead and check out the investment strategy in their bios, their stats and asset allocation, read their entire investment breakdown, even years back.
Dive into their online posts and see who and what’s right for you.
And remember, building a portfolio is a long-term commitment; profit builds over months and years.
[How many different investors should I copy?]
Technically speaking, you can copy up to 100 investors at a time.
But don’t spread yourself too thin.
Focus on a few investors that you relate to in terms of geographical location, professional background, sectors, interests, risk appetite, etc.
The important thing is to diversify, or, to paraphrase Dorothy Parker: “Don’t put all your eggs in one [censored”.
Say you’re fascinated by Australia.
Copy a local investor who has a better understanding of how things work there.
But you’re also interested in natural gas and corn.
Why not copy traders who specialise in commodities?
Or perhaps you’re looking for a long-term investment, but also want to get more creative with some of your investments?
Simply copy one investor to suit your long-term needs and another who knows their stuff in short-term investments.
To sum up, it’s a mix and match.
Like a salad, or a buffet.
Oof, maybe I am hungry.
Anyway, in the next video we’ll go over how to execute the copy strategy you decided on.
Until then, thanks for watching, and see you on eToro.