Thank you Jay Smith (JayNemesis)
I was first introduced to etoro by my friend and former colleague jaynemesis⚡. I kept hearing him talk about etoro, trading, bitcoin, blockchain.
He stood in front of the whiteboard and explained how he got into it, his fascination with bitcoin and his projections for the future.
He had a few of us sold, I love etoro, because of it’s true commitment to social trading. Imagine having a chance to show your portfolio (or not) to a bunch of people, to have people COPY your trading style and if you get accepted into the popular investor programme, you could make a secondary income.
This isn’t a MLM scam, don’t worry, I thought it was something like that too. But Jay is the single most copied trader on etoro, in fact even GOOGLE agrees! When your name is made into a GOOGLE ANSWER, you know you’re the top dog.
It only took me a few more years to actually join and trade real money. I had picked up a few books on blockchain, crypto, a few business magazines and audible books too. The concept seemed very easy, I won’t bore you with my explanation, but if you want to learn more about crypto, here are some helpful links.
As you can see, my first money I was really rocking it. It wasn’t my first time trading, I had another broker account before, I had bought stock when FB first hit the market. But my method was “set it and forget it” , buy at a low price and never look back.
When I first got on Etoro, I was all about the crypto and the blockchain. And for my first month, I showed the “trading bros” there was a new kid on the block. As a newbie myself to crypto in 2018, I was flattered that people were asking me for advice. Of course I was honest, to let them know where I was in my journey and I wasn’t a financial advisor.
But getting 30 copiers in my first few months, I felt like I was on top of the world. And the bubble burst, and suddenly I started to lose copiers. I saw Jay feeling the pinch too, but I admired his conviction in his trades and learning from his mistakes.
I decided to go back to basics, buy low and keep it locked. There were debates that “long term” investing wouldn’t work on etoro, I was ready to prove everyone wrong. I knew I wasn’t cut out for day trading and trading on the margin. I will leave that to the professionals.
What I did understand was long term strategy, how blockchain can be used for the greater good and companies I really liked, you can almost dub me as a “fan” girl.
So let’s recap, my strategy is
- lock in a price I’m comfortable with, aim to be an early investor
- never invest more than what I can afford, it’s very easy to get greedy but keep your cool. Don’t aim to be “rich” but aim to “comfortable”
- invest in companies you like, I do a lot of reading and research in the morning. My mom or partner can tell you I’m always on my computer or phone in the mornings. It really doesn’t seem like research because I’m investing in companies I like. Whether it’s disruptive technology, gaming, crypto, or any other business.
- If a stock isn’t/is going down, don’t panic, but reinvest or just let it slide. As a long term investor, I have a stomach of steel. You can see I had some pretty crazy months
- If you are investing long term, just check your portfolio a couple of times a day. I normally do it before, during and after the US market closes. About three or four times. I try to update my followers and copiers about once or twice a week. But they are aware, because my portfolio is long term, I don’t have much to update unless I’m considering putting more into something, investing into something else, or just a general update/change of strategy
- Do it for yourself, not for copiers. Don’t have your portfolio be dictated by someone who copies you. Especially if it’s your first copier on etoro. They are copying you because they trust your knowledge. It’s definitely an extra responsibility but trust in your own judgment.
- Ladies on Etoro: You will get talked down to, harassed and sometimes even get a few oddball comments. But don’t let that stop you, ignore the “trading bros” especially those behind “private profiles” at least you have the guts to show which stocks are in the green and which are in the red. They don’t have the guts to show the pathetic portfolio, but feel they have the authority to rip into yours. You know what? I’m over them. But I’m not over sharing what has helped me on etoro.
Happy Trading.
