Etoro Update - 06/April/2024
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- čas přidán 10. 09. 2024
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THE TRADERS IN MY eToro PORTFOLIO: (Affiliate Links)
Melvyn Moncuit (Mixed Assets): etoro.tw/3ZlaQ6e
Celestino Brunetti (Mixed Assets) : etoro.tw/48ojOVj
Fund Manager Zech (Mixed Assets) : etoro.tw/3RKrH1t
SwissWay (Forex) : etoro.tw/3Q2zoNN
Kresimir / 'Autobus123' - etoro.tw/3RrjX2G
AmitKup (Energy Sector / Fossil Fuels) : etoro.tw/3TzaBUT
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The video:
A follow up to my last video where I talked about one of the traders in my portfolio on eToro and whether there was a problem with his profit stats after adding funds to his account last month.
I don't know any more about the situation, but that's what's a bit surprising as I had hoped he'd maybe address the situation or in some way shed some light on the confusion.
We'll see.
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Hey Tom, bad news I'm afraid. If you click on the stats page, hover your mouse over the i in the top right. It says that its calculated from the equity not the performance of the copier. So I suppose Celesh and etoro have their arses covered. Personally I use the chart to measure peoples performance. Quick tip, on the chart use the ruler to measure percentages. I measured Celesh to be down 5.31% for march.
I'll have to re-read that bit about the chart being calculated on equity - it says:
"The monthly stats calculate the user's change in equity from the beginning of the month until the end of the month and offsets any deposits/withdrawals."
From that I understand it's meant to show profits or losses (unless i've read that wrong...) and understands not to include deposits and withdrawals in the calculation... Isn't that what you understood from it too?
Nice one about the ruler! How had I never tried that before ?? :) Thanks
@@SocialTrading ,I was undecided with the wording but when you hover over the i, click where it says "Click Here" to see the formula they use. There's an example they use, which kind of makes sense of what Celesh might have done. I agree with you though it does make it easy to skew the figures.
Looking at it another way. This is my example. If you follow someone who has $100,000 in their account and their trades gain 2% in the month (pretty good) but they withdraw $10,000 to have a new kitchen fitted their stats would show -8% for the month. You would still be up 2% because you hadn't withdrawn anything. But who's going to copy someone with a -8% figure?
It's definitely not ideal.
It’s a real problem, cheating stats is a known thing for a long time now. I’m actually surprised that this is probably your first video that you’re not enthusiastic in.
I generally monitor PIs for at least 1-2 years now before I consider copying them. And went from 20 PI’s to only 4 because I’m so sick and tired of PIs lying or cheating about their stats, pretending on beating the SPY or just plain gambling.
I hope they say something about all this, and restore trust. They've said in the past how much they put into guarding the integrity of the stats, so I'm genuinely shocked at how obvious this seemed.
Surely this is an eToro issue and not an investor issue. It would be very easy to code their math so as not to count funds as equity until after the point they are first invested. Would completely remove this bug/feature. The guy is just trying to optimise his livelihood.. totally rational behaviour whether you think it's moral or not, and should be expected by anyone copying.
This observation will undermine the credibility of the platform and shake the confidence of investors. I hope the platform’s management will issue an announcement and take action to fix the reading of the performance of the copied ones. Most investors rely on it, as few know how to calculate performance from the graph. That is a nice comment, and I hope you receive a response soon. 👍🏻
You know felix fallax? He has some videos, where he explains the tricks of some fishy PI's. Unfortunately there are a lot.
Oh no - I'm not sure I want to know any more! :)
Pretty sure I left a comment on either this video or a previous one saying I would be worried about SwissWay's gambling rather than Celesh's stats being a little bit out of whack...seems that was prophetic! In fact I made a SwissWay video in 2022 when he hit Risk 8 due to gambling and chasing losses.
Nope, missed that one :) but yeah - I’ve been hearing reports of him blowing other accounts. I haven’t looked into them as he went off the rails so quickly there that without a good enough explanation that had to be the end of the copy anyhow. He hit the stop loss really quickly afterwards…
@@SocialTrading thank goodness for the stop loss then! I didn’t know about his other accounts on other platforms until I read this useful comments section.
For anyone who is interested I checked back to my video in June 2022 and Swissway’s portfolio was as follows:
Cadet PI with over 100 copiers
83% allocated to one currency pair
30x leverage used
Risk Score 8
Bio being changed on a daily basis as he exceeded his stated max allocation per position
Verdict = once a gambler, always a gambler! Shocked he lasted 2 years without something like this happening again.
@felixfallax I found it :) You said someone in the portfolio was a known gambler and reprobate but didn’t mention who… very mysterious! Cheers for the warning anyhow - are there any others ?
I think your portfolio is great and you are making money so that counts. If you manage to make money then there is a point of your videos etc.
Yeah, I mean there's that, but I don't see why we can't have both. They could just say what happened, and be honest about how strict they are in making sure that stats manipulation is not the norm and doesn't go unnoticed or addressed. I think it's just transparency which would help - even IF it was intentional, and I'm not sure of that - if they said "we're letting him off with a warning" - I think even that would be enough.
@@SocialTrading Yeah. Let's wait and see what happens.
Hey tom have you a video up on how you go about sorting out what you have to do regarding withdrawing money?im not planning on it yet but say i deposited 5k and in 6 months it's at 6k,if i want to withdraw 500 do i pay tax on that or do you only pay tax if you're withdrawing 5k plus your profits, thanks
Hey there Brendan - I could guess, but really that's one you want to be rock-solid sure about, and since taxes are genuinely different in different countries, the only way to be sure and stay safe is ask a tax pro in your tax jurisdiction. I know it's a hassle, but once you know for sure, you'll be able to move forward with that extremely valuable clarity...
can you please lift the ban on saudi arabia?
I dont think he even knows that happened... Ive been in the platform since 2017 and had no idea how adding funds affects the stats before watching your vide, so most likely he is completely unaware someone is annoyed becuase he added funds....
I don't think so, because he is a PI, and statistics are very important for him. He knows, that people pick PI's based on statistics.
I mean if that's the case, and he puts out a post explaining that, that'd be something! But then there are other PIs saying that their account manager specifically warned them not to add funds in such a way as to lessen their losses in the stats charts. So it seems a bit unlikely. Could be though...
@@SocialTrading My point is he might not post anything since he might be unaware the issue even exists.. Im a PI myself, been on the platform for almost 8 years, and I would have never noticed this happened, nor would I ever imagined if affects the stats. Still im not defending or accusing him either, just stating this might be something he might not even be aware of.
oh wow - so your account manager never warned you not to do this sort of thing? (Add money at the end of a month where you've got big losses...) Another PI said he was specifically warned about it. Maybe PIs are inducted differently these days... Could be.
@@SocialTrading Correct I was never warned of that, I think the PI that said that, might have specifically asked a question related to it, and he was correctly warned about it.
Give it some time I suggest and it should vlear the judgement I guess.
Hi Thomas, celesh had adding funds to get the green stuff. Shorting gold 🙈
Gold's been doing so so well...
Hi Social Trading Vlog, your channel is great. Are you interested in cooperating with exchanges?
personally i think etoro tweak all trades to profit from all of us, why would i say that i hear, well why is it that 100% of all trades loose money immediately, and that includes if you follow all the analysts, they make claims the price of X company shares will rise, then you buy and it drops then goes sideways for ages never going into profit,
I don't know about that - I mean we can check the prices of assets across other exchanges, so the overall price movements of an asset can't be controlled by eToro... I can't see how they'd do that without the entire industry raising the alarm, surely.
@@SocialTrading if you say so