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The first thing to say is that in every new eToro page, both in your profile page or anywhere else, you will always find two sections: the upper bar and the menu on the side.
In the upper bar there are 3 elements:
- the search bar to look for CFD (currencies, shares, indices, commodities) or eToro network people;
- the pencil, with which, instead, you open a pop-up to be able to write your posts, or create your own feeds. With eToro it works like with Facebook or Twitter, adding “@” before the names of the people you will mention that person in your post, and adding the tag “$” before the ticker of the CFD you will make sure that your post will end up in the feed aggregator of that particular underlying;
- On the far right, the button for the notifications view.
Now, regarding the menu on the left, instead of continuing in order of appearance, it is convenient to talk about the various elements in order of importance.
For this reason, the first thing to talk about the new eToro Platform is definitely the Portfolio.
The New eToro Platform
– Portfolio section
By far, the thing to be more careful about is the mode selection, which can be Real or Virtual Portfolio. You can select them by clicking the drop-down menu as shown.
Real Portfolio mode is basically the same as the old eToro OpenBook, which is the public front of your profile, visible to all the users of the community. This means that users will only see your moves (so your stats) made with real money.
With Virtual Portfolio mode, however, you have the ability to operate with the same functionality of a live account, using an initial capital of 50,000 usd. However, everything you do will not be publicly shown in any way.
What is new from the old to the new eToro platform is that now you can change directly and easily from one mode to another, directly from your platform.
The functionalities of control, connection, management of traders and the opening of new orders are completely the same in both Real and Virtual versions. This means you have to be very careful and always make sure about the mode you are operating in, or you could run the risk of opening some trades or connecting some traders on the Real account when you planned to do it on the Virtual one.
So, if on one hand, in the new eToro platform, the mode management has been simplified, on the other this has created a “risk” of security, considering that, being the modes completely identical, the user may not notice the modality which he’s on.
Therefore, PAY ALWAYS ATTENTION TO THE MODE YOU ARE ON.
Instead, by clicking on “Portfolio”, always from the menu, you can access to the proper section.
Below there are the details on the current composition of the assets, which show the capital available for trading, the total invested capital, and the related Profit/Loss.
Instead, the upper space is dedicated to the list of all open positions, with some details on the investment and the performances. Here you can find the trades opened by you or those replicated by other traders. Just by clicking on the name of the trader you can open a list with all the operations replicated by that specific investor and still in the market.
With this views we can see all the details about the opened trades as well as close them if we wanted to.
Besides, in the top row next to the photo of the trader we find the Copy Stop Loss entry, the value that we set when we connected that trader, and that shows the maximum amount of losses that we are willing to bear with that trader before letting eToro automatically disable it (we’ll see it better in the lesson on the eToro form for order entry and replication).
It’s important to know where to find that value since it’s a fundamental tool of management and protection of the portfolio. Obviously, the P/L (Profit/Loss) next to it will show whether or not we are getting close to that limit. This does not mean that, in the event of proximity, we must increase the value so as to allow greater losses. The situation is identical to that of a trader who moves the stop loss of an operation to prevent it from being executed and not account for the loss at that time, hoping for a lucky break. Let me tell you, luck does not exist in this field, and moves like this are just a perfect formula for failure.
In the Advanced eToro course we will explain precisely how to use these security tools. Once they are set, according to certain logic and certain calculations, they must remain so, otherwise they would not have sense. It’s better to account for a slight loss today than burning the whole account tomorrow.
On the same row, at the far right, you can find the symbol in the shape of a “wheel”, where you can precisely manage and modify this value, in addition to other possibilities. In general you can:
- Add funds
- Remove funds
- Pause replication: the new trade opened by the trader will not be replicated to your account, but those present on your account at that time will stay open; however, the trader will still be able to close them, either manually or via Stop Loss or Take Profit command.
- Change the Copy Stop Loss (as just seen)
- Stop replication: signals by traders will no longer be replicated and all the positions in the portfolio will be closed immediately
- Write a new post: or send a comment (a feed) directly to the trader
Going back to the overall portfolio, with the “funnel” symbol at the top right , you can filter the list and show only the categories of operations you want, in case they were many and there was confusion.
The most important symbol, however, is the one to the left, in the shape of a “Pie Chart” .
With this button you can enter the view of your portfolio as a graph. You can view your portfolio both as an “Allocation” and an “Exposure”.
The Portfolio Allocation Chart
The first Allocation Chart shows how and how much you have invested your money in three main categories:
- Markets: it represents the share of capital you have used to open positions on your own on any eToro CFDs (i.e. currencies, stocks, indexes, commodities);
- People: it’s the overall share of capital you have invested for replying signals of other traders and investors, in other terms the money you’re using for Copy Trading;
- Balance: the capital you haven’t used, which means it’s free and available.
We at InvestinGoal have always been in favor of maintaining a share of the portfolio as protection margin, so as not invested capital (the Assets value in the case of this chart). A chart like that can make you quickly see the size of this margin. You could realize that you’ve invested too much, and thus be at risk, or too little, which means you’re not using your money at your best.
By using the box on the right of the chart you can look at the detail of each main category. Just click on Markets or People to view the two charts which show the percentage of capital invested on your own in currency, stock, index or commodity markets, and for the other on individual traders.
From there, we can go even further and, always clicking on each element, look at the chart with the individual CFD products or, in the case of a trader, return to his screen, just seen before, where there are listed all the trades opened by him.
To summarize and clarify, with the Allocation chart you can make a distinction between investments personally made by you (Markets section) and those made by all the traders you are replicating (People Section).
The Portfolio Exposure Chart
Instead, with the Exposure Chart it’s different. There are no distinctions between your actions and those of the replicated traders, but it’s an overall picture of your portfolio and how it is exposed to various financial products, regardless of whom created the trade.
Since this is a unique portfolio, managed both by you and by the traders and the investors you have decided to replicate, it’s essential to look at the disposition of money regardless of who is moving them around, to see if there are imbalances.
As before, you can click on each category to go into detail.
You could be a trader who prefers the EUR/USD pair for your activities, and realize that even traders you follow operate on the same exchange. With this chart, in the currencies section, you would see a part entirely dedicated to the EUR/USD pair and the overexposure to this currency exchange would be clear.
In addition to these two important views on the portfolio (by activities list and by chart), by clicking on the word “Portfolio” on the top left you can access to two other important sections.
Portfolio: Orders section
Within this section you can find the lists of any trading orders already included in the platform and pending to be executed, both yours and those of all the traders that you are replicating with the Copy Trading.
It’s interesting to observe in advance what are the future moves of the investors you are following, and perhaps ask questions about the motivations of the various choices.
Portfolio: History section
The last of the pages in the Portfolio section is History. We have already said how important it is to observe the moves made in the past to try to understand what to expect from the future.
This is certainly true when you analyze a trader to see if you should follow him or not, but it’s equally important even for yourself.
Periodically, it is essential to look at your history to understand what has been done, the operations that have been opened, by whom, how they were closed, if there were problems, etc.
The old eToro was absolutely no good in this. Whether you wanted to look at the trade of other investors, or you wanted to view those in your demo account, eToro limited the history just to the last 100 operations, but no later than 3 months.
Instead, today, with the new eToro, they provide the last three months, the last six months, and finally a full year of History. This is definitely an improvement and an opportunity not to be missed for all the investors.
What type of trader are you?
66% of retail CFD accounts lose money
The eToro New Platform
– Watchlist Section
Instead, the eToro Watchlist Section is a great tool to track everything you are interested in, and not only traders you are replicating.
From every page of all the underlying CFD and all the eToro traders, by clicking on the “+” button you can add them to your Watchlist, which are nothing more than lists of interest to which you can access directly from your platform.
Obviously, you can create several lists and add or remove items at your pleasure.
By creating a Watchlist, you can view the main data of the elements (price, variations, sentiment) and also have the trading buttons (or connecting buttons in the case of people) at hand, without necessarily having to go to the related sections.
The reasons to create lists of favorites are many. Here are some types of lists you could create:
- list of your favorite traders connected in your portfolio
- list of your favorite traders not yet connected, pending verification
- list of traders specialized in a particular field (currencies or indexes or commodities or shares)
- list of traders to be connected only at precise periods of market
- list of shares, indices, currencies or commodities to which you are particularly interested
- list of shares, indices, currencies or commodities on which you usually invest
- list of underlyings which usually have a positive or negative correlation between them
a combination of various elements
These are just some ideas to give you a hint on how to use this useful tool of eToro. You can be creative as you please, even because you can create hybrid lists, containing both people and financial instruments.
News Feed Wall in your new eToro platform
The new eToro News Feed is the section that most of all looks like the well-known Social Network Facebook. In this part of your platform it really seems like using a social network rather than a trading tool, and indeed it is.
Here we find all the feeds generated by the eToro community and that could be in our interest.
They are divided into two modes, which can be accessed from the drop-down menu in the upper right corner:
- News Feed: with this mode you will only see feeds generated by traders in your lists of Favorites, or even by other traders but containing $ tags related to financial instruments included in your lists. You could see feeds of people you do not know, but you see them because they deal with a CFD, such as $EURUSD or $APPL, that you’ve added to your lists of favorites.
- Popular Investor: with this mode, instead, eToro shows the feeds of the different Popular Investors, not necessarily those you are following but also others you do not know, if eToro thinks that their feeds are popular and may interest you. It’s a way for eToro to introduce other Popular Investors to you and create a window of presentation.
In the right section, instead, we can find two other interesting elements.
The first at the top is the amount of your assets, which corresponds to the Account Balance (the capital not invested) plus the Invested Amount plus the Net Profit.
Above it, it’s shown the gain both in monetary and in percentage terms from the beginning of the month.
Below, very important, it’s indicated if you are in Real or Virtual mode.
The other element, instead, is a sort of quick window on the Portfolio, on your Watchlist and on the People and Markets searching tool.
By clicking on the pie chart on the left you can see the Top Gainer or Losers, i.e. the traders or single positions that are winning or losing the most.
With the middle one, instead, you can view the WatchList, although you can view only 5 items.
With the star symbol, instead, you can quickly make some fast searches, viewing in particular the first 5:
- Trend Investors
- Trend Markets
- The More Copied
- The More Invested
Other section of the New eToro menu
Basically, the most important parts of your platform which can be accessed from the menu on the left are those described above. We have already dealt with the People section for the eToro traders search and the eToro Markets section in their respective lessons.
In the Other section there are the other non-core but still important functions. In particular:
- Help: by clicking it you will start a tutorial for the basic functioning of the platform
- Invite Friends: eToro is famous for affiliate programs and for the awards given to the users who bring new customers; here, you can access a program for inviting new users
- Old WebTrader: for the most loyal, eToro still provides access to the WebTrader old platform
- Withdraw Funds: one of the buttons that you are hoping to press as soon as possible, the one to order the withdrawal of your funds, of course, to be able to withdraw winnings
- Settings: to select the language, what page you want to see first at the login to the platform, and if you want a pop-up to appear to share your new trades
Very last note. If you really did not understand something or you missed some details, on the bottom right you have the ability to chat directly and quickly with the eToro customer service.