I'm young and planning to start investing early. As I'm beginning, I thought about going for high risk investments, such as stock markets, and eToro seemed like a good idea - because I figured that this is the best time to lose money in any case.

For those who don't know, eToro is a "social stock network" where you can copy the actions of (a.k.a. follow) other investors -prefferably professionals.

Anyway, what I want to ask is: is it safe to get arround 3~4k dollars on eToro, and start blindingly following popular people with high return? Is there a risk that I might lose everything?

If you think that's a bad idea, then what would you suggest as an investment for someone who is just starting?

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For eToro, just like any other brokerage firm, you can lose your entire capital. I suggest that you invest in one or more exchange-traded funds that track major indexes. If not, just put your money in fixed deposit accounts; gain a bit of interest and establish an emergency fund first before investing money that you feel you are able to lose.

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  • Welcome to Personal Finance & Money! Please check out the Help Center for more information on how to write great answers. One improvement you could make to this answer would be to explain your recommendations and cite references to support your explanation. – dg99 Dec 12 '14 at 17:14

If it's money you can lose, and you're young, why not? Another would be motifinvesting where you can invest in ideas as opposed to picking companies.

However, blindly following other investors is not a good idea. Big investors strategies might not be similar to yours, they might be looking for something different than you. If you're going to do that, find someone with similar goals.

Having investments, and a strategy, that you believe in and understand is paramount to investing. It's that belief, strategy, and understanding that will give you direction. Otherwise you're just going to follow the herd and as they say, sheep get slaughtered.

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