Can you beat the market ?
Probably not and that’s alright. We can’t all be like Warren Buffet Or George Soros. I’ve been trading for quiet a while and it takes a lot of research and patience to do it profitably.
If you don’t like to study annual reports and go over finances and price movements thats no problem at all. What would you say if you could simply copy a good investor’s strategy ? Lets say you would copy their portfolio 1:1 and buy and sell alongside them. That’d increase your chances of success greatly wouldn’t it ? What if someone else already did all the investment research in studying annual reports etc and you could simply copy their portfolio with one click.
Social Trading Platforms allow you to skip all this and simply copy the investments of already successful traders. Of course you need to do your research of the traders you like to copy.
The good thing is that social trading platforms like etoro allow you to do just that easily. You can simply sign up for an account ( you can browse the platform without depositing any money) and go through some of the top trader’s accounts.
Etoro has thousands of successful Traders on their platform and they also let you search by risk & return so you can easily find the ones you’re looking for.
Some are big into Currencies & Commodities and some prefer to trade stocks. Furthermore some prefer a higher risk ( and usually higher returns ) and some Traders are more conservative and are looking for a steady and safe return. You need to decide whats comfortable for you. Also keep in mind that your money is at risk when you are investing but it certainly helps to have a professional with a steady track record manage it.
Think about it like this. If you pick a good trader and invest your money alongside him it’s like having Conor Mcgregor fight for you in the UFC.
Before you get all excited. Social Trading Platforms such as Etoro won’t make you rich! Yes thats correct it’s not like those other make 10000x return in a week kind of products. This is not how the world works.
But here is whats possible: Imagine your money growing at 6 % a month. It doesn’t sound like much but it’s safe and it adds up nicely over time. After 1 year 100 usd would’ve turned into $201.22. Thats right you would’ve doubled your money by simply copying another trader. I would strongly suggest to let it run longer because of the power of compound interests but you see whats possible.
Etoro has a ton of professional investors that archive these kind of returns.
So how can you get started with social trading ?
Simply go to Etoro’s ( they’re the platform I am using myself) website and create your free account. You don’t have to deposit anything if you want to check it out first. Then feel free to browse some of the Investors that have the kind of risk / return that you find interesting. I am personally a more conservative person but you might want to go with one of the more speculative types that can offer you much bigger returns. They would usually invest in things like Forex or CryptoCurrencies like bitcoin and can give you higher returns much faster than the stock market. Keep the risk in mind though.
What returns can I expect?
That depends on your risk / reward settings. With a conservative approach you could be earning around 20% a year with a more aggressive approach you can make upwards 100% per year. Make sure you check the profile’s including the last month’s returns. One of my favorite trader’s wesl3y made 8% in May alone.
How much do I have to deposit ?
You can try Etoro without depositing any real money by using the virtual portfolio after you signed up with your email. If you like the returns you are getting with your virtual money you can deposit $200 to get started investing with real money.
How often can I withdraw my money?
After each day. You can simply click withdraw and take out as much as you like from your Portfolio. Your deposits are secured by trusted Banks. Furthermore Etoro is fully regulated by European regulators.
Please let me know if you have any further questions in the comment section. To me Social Trading is a godsend because it allows you to access the knowledge of thousands of already successful people.