Social Trading Progress - Week 2 Of March 2015

After my previous posts last week I went down with a very bad cold.  I was actually anxious thinking that I won't be able to do this post. I've since recovered and ready to explore the markets this week, as well as pay close attention to my popular investors over at Etoro.

So far social trading is proving to be a nice additional and passive income stream.  As from the 1st of March to date, I'm happily reporting a 7.26% increase on capital (trades are still open though). 

Social Trading Progress

My gut tells me that March will outperform February, especially now that yours truly has stopped meddling with the trades.

I posted a "how to get started on social trading" article last week so that you can stop wondering how to get started and simply do it.  It is a YouTube video that details clearly how to get started, how to select traders to copy etc.  It will do you good if you can heard over there after this post.

Till next week!
Wishing you success

How does social trading work?

I've been almost exclusively using this blog to update my progress on copy trading, however I have decided to put more information as well as how to get started on copy trading.

The video below was put together quite a while ago by the Etoro team, however it is still relevant.  I just need to point out that you can now allocate up to 40% of your equity to copy one trader, a opposed to the 20% being mentioned on the video.

Most traders started feeling that 20% was too little and Etoro being a people's platform, they listened and adjusted accordingly.

The video takes no more than 10 minutes..sit and enjoy!

To get started,visit the site here.

Social Trading Progress - Week 1 Of March 2015 (month to date)

I mentioned on my previous social trading progress post that the stats reporting on Etoro has changed a bit.  Instead of reporting on a weekly basis, Etoro now show one's progress on a month to date basis.

It's not a train smash at all and will save us from having to add the weekly revenues to get an overall monthly picture.

As you can see, the first week of March was very promising.  I like it when a month opens on a positive note.  It is a well known fact in investment circles that past performances do not guarantee future results, however they do help gauge the type of trader you are following as well as his trading style.

5.3% is quite a huge return and I'm taking it!

The whole point of this exercise is to illustrate that social trading does work if you select the right traders to follow (I must admit though that the broker has done a great of work to ensure that the bad apples are out of this bag).

Overall, I am still happy with my Investor A..and today I have added Investor B in the mix.  She is someone I've been demo testing and following for a while now, less of  a risk taker than Investor A.  This diversification is key when social trading the forex markets (or any other markets for that matter).

Looking forward to the rest of the week!!!

PS: If you want to start demo testing the master traders, you can start today for free.  Open your free account here.

Copy trading forex - February progress

My first month of copy trading forex live has been quite a ride, between trying to second guess my copied traders and some changes in Etoro I can only say that I have learned a lot.

The first thing to take note of is that the way stats is reported has changed.  I will no longer be able to show graphics of weekly stats as it is now  reported as month to date.  As you can see below, my January month was in the red by 10.9% (prior to copy trading), and after starting to copy trade I managed to bank a profit of 11.22% during the month of February.

There was a huge drawdown on the account all thanks to the uncertainty with Greece.  Me, being me I started to manually close some trades and those who left them alone have banked double the % on interest.  Well, that is just a lesson for me to LET THE COPIED TRADER DO HIS WORK while I focus on my other forex account.

So, here we are for my first month of copy trading....11.2% profit/interest.  This is much better than what a bank would give me so, I'LL TAKE IT!!

Till the next update!