Social / Mirror / Copy Trading: what are your experiences and views?

This is a discussion on Social / Mirror / Copy Trading: what are your experiences and views? within the General Trading Chat forums, part of the Reception category; Sites like eToro, ZuluTrade and ayondo have been around for a while now, yet they don't get discussed that much ...

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Old Dec 13, 2017, 2:01pm   #1
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Social / Mirror / Copy Trading: what are your experiences and views?

Sites like eToro, ZuluTrade and ayondo have been around for a while now, yet they don't get discussed that much here on T2W. Is this because they're all pants and the whole concept of social trading is fundamentally flawed? Or, is it because those that do well out of it are embarrassed by their success because it's the result of someone else's hard work and skill rather than their own?

Have you tried social / mirror / copy trading and, if you have, what's your experience?
Perhaps you're a 'top trader' on one of these sites and you make money from followers?
Have you considered doing it from either angle and decided against it for some reason?
Whatever your experiences are - please share them here!

The idea for this thread was prompted by this post by Tytus_Barnowl and by this UKSpreadBetting interview with Tim Young . . .

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Old Dec 13, 2017, 3:21pm   #2
 
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I have looked into this few years ago, because I am lazy and all for automated trading and I am always looking for new ideas to diversify, so this looks like great idea on paper, but I couldn't find anyone to trust my money to follow...

The problem to me is that I have to see long term evidence those people can trade in all markets cycles and I just couldn't find that history, also volumes were not available and I didn't see some sort of protection either, for example if my account is down let's say 5% for the day, close everything, move to cash and unfollow the offender, in the end, the guy might have been stoned and making a huge mistake...

Not to mention the security of the platform itself, to me to move money to a platform 5-6 digits account, I have to know it is government regulated and insured in my country, so if something happens and the money are gone, I have to have a way to get them back...


bottom line, good idea, but too much risk for me, e.g. I am risking only few percent of my portfolio and here the risk is 100%
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Old Dec 14, 2017, 12:52am   #3
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A point of view from a 7 month newcomer to trading:

I was briefly interested in a copying service, as all newbies likely are to some degree.
After a day or 2 looking into it I decided not to bother, mainly on the grounds of what happens if these people I copy I go away.. stop trading.. die, etc.. then I am left helpless. I don't like feeling helpless, so I would rather learn to do it myself.

As Quantt points out... the risk is very high also...
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Old Dec 14, 2017, 7:45am   #4
 
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Quote:
Originally Posted by timsk View Post
Sites like eToro, ZuluTrade and ayondo have been around for a while now, yet they don't get discussed that much here on T2W. Is this because they're all pants and the whole concept of social trading is fundamentally flawed? Or, is it because those that do well out of it are embarrassed by their success because it's the result of someone else's hard work and skill rather than their own?

Have you tried social / mirror / copy trading and, if you have, what's your experience?
Perhaps you're a 'top trader' on one of these sites and you make money from followers?
Have you considered doing it from either angle and decided against it for some reason?
Whatever your experiences are - please share them here!

The idea for this thread was prompted by this post by Tytus_Barnowl and by this UKSpreadBetting interview with Tim Young . . .

Tim Young ???!!! Who is this guy ? as always talking bla bla bla ... and no real account performance) the best way of copytrading is open PAMM account for Investors. why this Tim have no PAMM acc ? ask yourself

Last edited by FXPIPa; Dec 14, 2017 at 7:50am.
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Old Dec 14, 2017, 9:40am   #5
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Tim Young ???!!! Who is this guy ? as always talking bla bla bla ... and no real account performance) the best way of copytrading is open PAMM account for Investors. why this Tim have no PAMM acc ? ask yourself
Hi FXPIPa,
Having - or not having - a PAMM account is neither here nor there and not germane to the topic of this thread. As for Tim Young, I'd never heard of him before I stumbled across the series of interviews that UKSpreadBetting conducted with him. However, that neither you nor I know anything about him doesn't invalidate what he says in this video. Clearly, a lot of people will agree with much of what he says, evidenced by the growing numbers of who are gravitating towards social trading. This is complemented by an increasing number of brokers/platforms offering a copy trading facility; the three I mentioned are just the tip of the iceberg. Like it or not, social trading of the kind Mr. Young outlines is growing fast and the purpose of this thread is to highlight its merits and its faults.
Tim.
PS. Tim Young does have a live account on ayondo just as he states in the video.
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Old Dec 14, 2017, 3:08pm   #6
 
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Hi FXPIPa,
Having - or not having - a PAMM account is neither here nor there and not germane to the topic of this thread. As for Tim Young, I'd never heard of him before I stumbled across the series of interviews that UKSpreadBetting conducted with him. However, that neither you nor I know anything about him doesn't invalidate what he says in this video. Clearly, a lot of people will agree with much of what he says, evidenced by the growing numbers of who are gravitating towards social trading. This is complemented by an increasing number of brokers/platforms offering a copy trading facility; the three I mentioned are just the tip of the iceberg. Like it or not, social trading of the kind Mr. Young outlines is growing fast and the purpose of this thread is to highlight its merits and its faults.
Tim.
PS. Tim Young does have a live account on ayondo just as he states in the video.
you can find thousands sites like FXCOPY or FXSTAT - there only demomasters and scam broker accounts like FXCH ... WVC ... if there was 1 normal real account with 6 months stable trading everybody could copy it. After this FXPrice will kill that account - because many people same order...and as always price like to go that way - not profit way. Good forex system - is not popular system
And if you open EURUSD, GBPYSD 2008 and compare it with Today Chart you will be in Shock, CopyFX killed volatily of that pairs ... and all idiots making CriptoMainigs..that will falls down soon)
To Copy someone - you must know 100% his method and must sure that this trader is not stupid MartinGaile without SL... this is why Copy not so popular - go to MQL5.com signals. There lots of good and profit accounts - 30 USD per month cost to copy... but for some reason people do not want to copy it.
Once my Friend follow at demo 2 months 1 "Good" trader at some copyfx service site with 8 month profit portfolio, after that we opened Pamm and this trader blo this Pamm in 2 days)))

Chears

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Old Feb 5, 2018, 8:24am   #7
 
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Tim Young does have a live account on ayondo just as he states in the video.
His previous Ayondo account was called FTSETrading - this account got utterly wiped out in August 2015 - when China aggressively devalued the yen.

His "strategy" is to "go long regardless" - because once you get to a nice number of followers he's getting a slice of each of his followers trade commissions regardless if his original trade idea pays off!

His Timtrading Ayondo account had 528 followers on Thursday, and now it has 462 followers - which pretty much says it all for social trading. His account showed -8% first thing this morning;
https://wetrade.ayondo.com/follower/...ile/Timtrading

He never ever goes short and if you review his trade history you'll get confirmation of this, he actually confesses in one of those UK spreadbetting videos he is "unable" to go short.

Here is his old "wipeout" account which he doesn't like to show off about... when his account is having a big old drawdown he appears ashen-faced on TipTV, always cheered me up no end

Click the image to open in full size.

Click the image to open in full size.

If you follow his trades, or believe any of the vague bull**** he spouts on TipTV or CoreFinance you deserve to lose your shirt.
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Old Feb 5, 2018, 4:48pm   #8
 
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Originally Posted by f2calv View Post
His previous Ayondo account was called FTSETrading - this account got utterly wiped out in August 2015 - when China aggressively devalued the yen.

His "strategy" is to "go long regardless" - because once you get to a nice number of followers he's getting a slice of each of his followers trade commissions regardless if his original trade idea pays off!

His Timtrading Ayondo account had 528 followers on Thursday, and now it has 462 followers - which pretty much says it all for social trading. His account showed -8% first thing this morning;
https://wetrade.ayondo.com/follower/...ile/Timtrading

He never ever goes short and if you review his trade history you'll get confirmation of this, he actually confesses in one of those UK spreadbetting videos he is "unable" to go short.

Here is his old "wipeout" account which he doesn't like to show off about... when his account is having a big old drawdown he appears ashen-faced on TipTV, always cheered me up no end


If you follow his trades, or believe any of the vague bull**** he spouts on TipTV or CoreFinance you deserve to lose your shirt.

Very good summary and analysis. Thank you!
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Before you trade even single penny on the stock market, please spend the time and educate yourself by back testing different trading strategies and ideas - go to eBay and search for "historical stock market data", you can buy 20 years of data for less than $100 - that's all you need to start.
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Old Feb 5, 2018, 9:38pm   #9
 
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He's now down to 388 followers and just hit maximum drawdown of 17% ...more like antisocial trading eh?

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Old Mar 3, 2018, 8:36am   #10
 
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I used to try copying the deals and I must admit everything had been quite well untill one day I lost quite a lot. Then I decided to trade on my own.
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Old Mar 20, 2018, 5:38pm   #11
 
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Trading is not an easy job is a bitter truth. You have to work on your own behalf in order to gain success on the Forex market. You need to develop your own strategy and management plan for your success. Your money is important for yourself and only for yourself, nobody other cares about it. Be confident and be successful. Best of luck!
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