Social investment trading is based on the idea that there is knowledge, value and profit in the wisdom of the crowds of other traders – and particularly of the crowds of other successful traders. This is the social part.
eToro Openbook is an exceptional, well-known and respected example, particularly among forex traders and investors who like to challenge global currency markets. In complex domains like monetary exchanges, it’s particularly beneficial to understand what others do and why they make their choices.
The key element of eToro is the ability of participants to develop and routinely modify and enhance people-based portfolios. Active investors can readily copy the straightforward patterns and actions of others – including recognized forex gurus – or they can develop and test their own selection of variables to see what work.
As an example, please review the screenshot below. It provides a picture of the achievements of five top traders over a six month period. Clicking on the chart provides you with a closer look at the specifics, but it is immediately clear that their copying practices pay off. With gains from 5.85% to over 170%, it’s hard to argue that the lessons of leaders aren’t worth copying.
Image may be NSFW.
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As mentioned above, eToro has a well-refined and easy to use search and command function. You can see a broad range of variables that leaders consider in making their choices and adapt those characteristics with your judgmentment of their importance.
The results shown in the screenshot above came from looking at search rankings that used these five criteria:
- Traders had to achieve a gain greater than 5%;
- Selected traders needed to assign 50% of their balances toward copying other traders;
- There needed to be more than 10 monthly trades executed in this fashion;
- No more than 10% of the daily balance could be drawn down;
- The traders had to be active for at least 50% of the time during which their transactions were monitored.
The purpose of these expectations was, of course, to ensure that there was a commitment to copying other traders, and to demonstrate that such convictions could actually pay off! And the results couldn’t be clearer.
What is just as exciting, though, is the fact that eToro has the ability to turn ordinary traders into copiable gurus – traders, like those showcased, who soon become teachers of a sort and who make money by being copied. This is the heart of the idea of the wisdom of the crowd that underlies executing notable and noticed forex investments.
Those interested in more information can click for statistics hereImage may be NSFW.
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. The same resource pages also provide access to the variety of other selection criteria.
At this point, everyone is still learning how to be the perfect trade investor. eToro has shown that when it comes to mirroring the best, everyone in the crowd has something worth mirroring for success!
Image may be NSFW.
Clik here to view.
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