To set a stop loss while using eToro's demo account, go to your Virtual Portfolio, choose an asset, set the stop loss and then execute the trade. This is basically the same step for setting a stop loss in live trading mode.
Setting a stop loss in eToro even in demo mode is a good way to manage the risks while practicing your trading strategies. This feature automatically closes a trade if the asset price moves against you (to minimize potential losses). Here’s a detailed guide on how you can set it up:
Before setting a stop loss, make sure that you're using the Virtual Portfolio (this is how eToro labels their demo account). To do this:
Search for the asset you want to trade (e.g., stocks, crypto, forex) and click Trade to open the order window.
Once the trade window is open, look for the Stop Loss section and enter the price level at which you want the trade to close automatically.
Alternatively, you can adjust the amount in dollars (or percentage) to define the maximum loss you're willing to accept.
Once you've finished setting the stop loss and other investment parameters, hit the Open Trade button to execute this position.
Take note:
- You can modify a stop loss even after the trade is active.
- eToro has minimum stop loss distances based on market conditions and volatility. If you receive an error while setting a stop loss, try adjusting the value slightly.
In my opinion, practicing stop loss strategies is a simple way to develop better trading habits before you go for real-money trades. While demo trading is risk-free, it helps you build that much-needed discipline and confidence before transitioning to live trading.
I suggest that you experiment with different stop loss strategies to see what works best for your trading style. The demo comes with $100,000 virtual funds anyway so that's a lot of credits that you can use.
eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.
Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 51% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.
This communication is intended for information and educational purposes only and should not be considered investment advice or investment recommendation. Past performance is not an indication of future results.
Copy Trading does not amount to investment advice. The value of your investments may go up or down. Your capital is at risk.
Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more.
Cryptoasset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which hasbeen prepared by our partner utilizing publicly available non-entity specific information about eToro.
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
