The Covid-19 fueled recession is hitting most of us hard. People are losing their jobs left, right and center, and things feel a bit apocalyptic right now. Still, there are ways to maintain a regular income. We’ll be taking a look at how you can make enough to pay your bills with copy trading – it’s easier than you think.
Copy trading on eToro can help you stay afloat
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Copy trading is, in essence, when you copy the positions of other, often more experienced, traders. You put in the capital, set your stop loss/profit margins, and your portfolio automatically copies the trades of someone else.
Copy trading can be a really effective way for new traders to earn profits right from the get go, while still learning about trading. Even for those who are more experienced, copy trading is great if you don’t have a lot of time to spend on trading platforms every day.
eToro is one such trading platform that offers copy trading. With more than 10 million users taking advantage of the social trading and copy trading features, eToro is one of the most established trading platforms out there.
What’s fantastic about eToro, is that you can copy trade stocks, commodities, ETFs, currencies, cryptocurrencies and more. There really is almost no limit to what you can trade – and there’s a huge number of traders who you can copy trade.
How does the global contraction in this recession compare to that of the Great Depression? And what will happen to debt levels over time? @GitaGopinath answers during the release of the April World Economic Outlook #WEO https://t.co/93xXDRsg3B pic.twitter.com/WyNTcLYtMb— IMF (@IMFNews) April 14, 2020
96% of new traders give up trading after making a loss – why let that be your story?
The reality is that 96% of new traders make a loss, and end up giving up trading before they even get started. Copy trading can help you make a profit, while you learn the ropes.
Let’s take a look at what some copy traders are earning on eToro:
- User @geofflee2006 has seen a return of 35.98% over the last 12 months. He currently has 2945 copy traders, with $2 million to $5 million worth of copy assets under management.
- User @jaynemesis has seen a return of 49.41% over the last year. He has 9945 copy traders, with more than $5 million worth of copy assets under management.
- User @SparkLiang has had a return of 37.97% over the last 12 months. He has 3741 copiers, and between $2 million and $5 million worth of copy assets under management.
So, yes – you can make enough to pay your bills with copy trading. With more than 10 million users on eToro, you’re sure to find a trader whose style resonates with yours.
Copy trading is an effective way to earn a profit and pay your bills
Times are tough, and they’re probably only going to get tougher. However, you can still make enough to pay your bills with copy trading on eToro. The reality is that we are going into a recession, so why not invest in your future now and get your portfolio going. Even newbie traders can make a profit using copy trading – dive right in!
Disclaimer: 75% of retail investor accounts lose money when trading CFDs with this provider. Virtual currencies are highly volatile. Your capital is at risk.
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