Disaster?

Hi guys, so im not sure if I made a mistake or not. In fact im not sure what's going on at all.

In my last update I was telling you how I invested my second $100 into a South Korean trader named Chaehoju. I also explained that he was a high risk trader, and I rattled on about no risk no reward and all that bollocks. Well it might have gone wrong.

Since I invested in him which was about 5 days ago, he has made countless amounts of trades, the majority of which are still open and in the red. I know I am by no means an expert in trading forex but I like to think im a fast learner and I've been picking a lot of stuff up. But I have no idea what he is doing.

Last week the USD was having an extremely bad week. A combination of poor economic news coming out of the US and a distinct lack of news coming out of Europe saw it freefall. Andre who I initially invested into was making the most of this selling the USD against the EUR. He might have been caught out at the end slightly when the USD started picking up but he was quick to stop trading in that direction once it did. Which left me in the green.

Chaehoju however, five days later is still selling the dollar when it is on its way up. Now I could understand why people keep hold of open trades in the hope of the market reversing, which it probably will eventually. But not making loads more in that direction. He currently has 33 trades open, the majority of which are betting against the dollar, and range from between 1% in the red to 216%. He has one trade in the green out of the lot.

Granted the situation has improved since yesterday. They were much worse trust me, and he has been closing some trades for profit. In fact he hasn't closed a trade for a loss yet. The USD is starting to head south gain, which for obvious reasons is good for me. But do we see it dropping off that much that I will recoup my losses? Im not sure. Lets wait and see.

The big decider is going to be how the USD fairs tomorrow as the big event on the economic calendar is the consumer price index. Lets hope for some bad news, fingers crossed. What a strange thing to say. I need to recoup this $50!

The Grand Plan

So I thought I had best let you guys no about a bit of an update. I have decided to invest again, with another $100. I am still with my initial copy on Etoro, Andre, and I am more than pleased with his trading. However it is all part of a bigger plan. I want to copy maybes up to ten traders over the next year, at the same time.

The theory behind my long term plan is that if I invest in ten different traders with $100 it will mean less profits for myself but less risk overall. Whereas if I invested the whole $1000 into Andre and he blew all his cash so would I. Not that he would,

I am just completely theoretically speaking here. In fact Andre is probably a really bad example of someone who would blow my cash as he is a really low risk trader.

I also want to have a bit of diversity about my portfolio. I am not just going to invest $100 into the top ten lowest risk traders on Etoro. That isn't the name of the game, many elements of trading come down to luck. I've read somewhere that it is 70% skill 30% luck, a fact many top traders will probably deny. At the end of the day the motto stays true. With risk comes reward.

So with my philosophical explanation done with, im going to tell you about my next investment. Hoju Chae is a South Korean very high risk trader, however if you look at his stats they speak for themselves. He is already up 264% this year alone and is yet to have a month in the red in 2015. I invested $100 in him the day before yesterday and boy has he been busy. Making somewhere around 30 trades so far. He mainly deals with the USD/JPY market but has been dabbling in the EUR/USD as well. I am yet to see massive results but as always with these things I must give it time. I will keep you all informed.

I want to add that I am only investing in high risk high leverage projects because I have the disposable income available to do so. If you want to have a crack I still suggest a demo account or looking up low risk traders to start with. I can always point you in the right direction. Also don't forget if you are going to sign up with Etoro you use this link, http://etoro.tw/1bQkoNK as it will get you some free cash to start your portfolio with. Only a fool would miss it.

Learning from beginners mistakes

Ok so yesterday I told you guys I had started copying the top investor on Etoro Andre Bauer @hyperbird. It was actually about 8 days ago that happened so I already have my first week under my belt. So we'll talk about how its been going.

I actually made a massive newbie mistake that I want to tell you guys about before we move on. When copying someone on Etoro make sure you check their open trades before pressing the copy button. If they have lots of open trades in the green, don't press copy. If the trades are in the green it probably means that the trader is just about to close his position. Which isn't good for you because you will buy them at the value he is about to sell at you will make a loss. If that makes sense, with the brokers fee and all.

Andre still has these trades open and is down on them by about 30% but because I bought them when they were in the green I am down almost 100%. Its not as bad as it seems though because Andre deals extremely low leverage only trading about 2% of your total equity at a time. Which means I've only lost about $2 so far. But it could have been a lot worse if id invested heavier.

So that's the bad news over with, if it wasn't for this mistake on my behalf I would have made a profit on what I invested in the space of a week. Andre is a very active trader, he's constantly jumping in and out of trades, making a small profit each time. My highest profit on a single trade is 19.22%, which I thought was amazing.

Andre mainly deals in EUR/USD which is what he seems to be good at, so if he's comfortable, im happy. He's also very social, which is what Etoro is about I suppose. If I have a question about anything he's doing he's always quite happy to reply with an easy to understand answer for me. Even though I must be asking the most stupid questions in the world sometimes.

Overall my first week copying on Etoro has been quite a pleasurable one, at no point have I feared for my entire equity which is what was worrying me, and even the disaster that was my innocence didn't do too much damage. Id definitely recommend giving it a go.

Remember if you are interested you should probably get a practice account first so you don't make any stupid mistakes like me. Plus make sure you sign up with this link for some bonus dollars when you do register, surely no one would turn down free cash. http://etoro.tw/1bQkoNK

Taking the plunge

So I stumbled across Etoro a few weeks ago. It struck me as an awesome idea at first but I wasn't sure how confident I was trusting other people with my own money. I've dabbled a bit in forex trading with demo accounts in the past, usually with limited success. I would read all the beginners guides, watch all the free webinars and came to the conclusion that it was all a bit of a dark art.

I decided I was going to take the plunge, with the minimum deposit of course, which is $100. I didn't want to invest hellish amounts of money for it to all go tits up. But first I realised I would have to do my research. Etoro actually have the option of a demo account but you can tell they haven't really put much thought into that one, you cant actually copy any traders in the demo version which was the whole aim of me joining Etoro so I just gave it a miss. Plus it would feel a bit like Deja Vu as I've played with countless demo accounts in the past.

I watched the site for a couple of weeks, checking peoples stats and following people that looked interesting. This made all their transactions and interactions appear on my homepage so that I could keep an eye on them. I was ruthless, if they made one fuck up they would be off my list.

The search people feature that Etoro provide was quite useful, it did the majority of the hard work for me. All I had to do was strike people off that list. After a fortnight I had two people who I was interested in. Andre Bauer @hyperbird and Tom Willacy @tomwillacy.

Both these guys had impressive win ratios and most importantly, they traded very low leverage, which is what I was looking for. The main factor in my choice though was that Andre traded mainly in currency whereas Tom traded in stocks. Now stocks is something I am interested in but my main plan was to trade currency to begin with, so Andre it was.

I hit that copy button and invested $100 in Andre. Now whatever Andre does I do, when he buys I buy, when he sells I sell. He has traded solely in Euro/Usd so far and I've been making some small profits. Which will be big, then huge. The more I invest.

If you want to check me out on Etoro then im @Hudson850, I even have some followers already. Heaven forbid I actually get some Copiers. Plus if you are also thinking of taking the plunge and have stumbled across my blog, use this link  http://etoro.tw/1bQkoNK. It gets you some extra dollars on your first deposit, which really is a no brainer.

Bye guys!

http://etoro.tw/1bQkoNK

What is Etoro??

Etoro are calling themselves the first social trading network. Kind of a Facebook of the financial world. The theory is that it gets all the expert traders from around the world together in one place, with all their experience, into one big trading superpower. Which is good news for people like me, who essentially have no fucking idea what's going on in the trading world the majority of the time, despite my efforts.

Surely with all these other peoples collective efforts, they can make me into a trading superstar?

As the worlds largest online trading community, their selling point is simply the social aspect of the whole deal. In fairness they have developed a hatful of useful tools to help you upon your way. By doing so they are unlocking the unlimited possibilities of trading as a community.

Their biggest calling card has to be the copy trader feature, which makes it a hell of a lot easier to monetize someone else's trading knowledge.

So how does it all work?

Etoro is basically a trading Facebook, so your homepage will bring you all the updates from the people that you follow. Most importantly, what they trade and when they trade. So if you have chosen right, you are in for some invaluable advice, and some awesome strategies.

You can follow these individuals you have identified as trading superstars with one click of your mouse. Don't worry, it doesn't take a genius to figure out who these guys are as the place is packed with stats and colours to keep you pointing in the right direction. If you are still in the dark about what is going on there is certain features to help.

Investor finder is a feature that you can use where just by setting a few parameters, such as monthly gains and trades per day, it will narrow the field to a few lucky individuals for you to network with. You can also get loads more information on each individual such as what their current portfolio and history.

By far the most important feature of Etoro is the copy trader feature, this is the most direct way to benefit from social trading. If you spot a particularly amazing investor during your searches or by keeping an eye on the investor rankings, you can allot a certain percentage of your funds into copying exactly what trades these people make. So you buy when they buy and sell when they sell, most importantly making the same profit they do, proportionately of course. You can even invest your entire equity into other people. Which is what Etoro are calling a people based portfolio.

The best part about the whole thing, is that at the end of the day, you keep control over your whole funds. So if you aren't happy with the decisions your trader is making, just click the stop copying button. You can even set a specific stop loss.

I'm trying it out right now, so follow this blog for daily updates on how I am getting on. Or even go and check me out on Etoro.

Why not go and register yourself, it is free!

 plus use this link for some extra cash http://etoro.tw/1bQkoNK