All about my adventures with Social Trading / Copy Trading and some other stuff...
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My Eth Address: socialtradingvlog.eth ( 0x3D3D783CaDad9bb764ce4AfEC5d7f9a3B4EA1fF9 )
I'm also doing a few videos about my adventures in cryptocurrencies - finding out how cryptos work and getting used to it all.
All information in my videos is an opinion and is for information purposes only. It is not intended to be investment advice. Seek a duly licensed professional for investment advice.
Thanks Tom, As a beginner I have no glue or idea whatsoever about buying stock or investing but with this video it has given me an insight about investing in stocks. Thanks alot once again ❤🙏
Hey there - thanks, hope it works out well. I’m not sure what to do at the moment - the world seems ‘a little’ unstable, so waiting to see what happens next really.
Stop using your own money! Especially the high leverage scams like Etoro - If you can't pass Prop Firm Evals and Trade Funded accounts you shouldn't be in the game to start with. Stop being suckers losing your own money to the likes of Etoro.
Hi - thanks for the video. I have a new portfolio on e Toro (complete beginner). What is the 'Short' column on my portfolio? I have bought 4 stocks (on the mobile app). On the mobile app the 'short' column doesn't exist on my portfolio, but it does show on the desktop. On one of my 4 stocks the info within the short column appears to be 'greyed out'. I'm assuming this is the value i purchased at? Thanks, David
I came here thinking scared there is something big you gonna tell me, like the eToro is rip off, or something. I can barely count to a 100, and yet I know that off of a 1000 USD I'd get maybe a 100 USD per year. Witch somes from small risk - small reward. I once invested 10K and got 35K over almost a weekend, but that could cost me some behind bars holiday, so either that for fast cash, or being a politician - those know to steal and stay safe. But thanks for the heads up! I know you had good intentions. On the other hand Im glad nothing worse came out from you.
Hi, Tom not sure if it's the same for you over in Malta but are you able to do a video covering the Etoro ISA which is powered by Moneyfarm. its something that's been shown to me here in the UK not sure if its the same for you through?
I started to carefully put together a copy trading portfolio at the start of this year and it's up 15% so far. Which I am really happy about but I really don't want to get my hopes up until I see that the people I copy can preform or minimize losses in a bear market or recession aswell. So secretly I'm kinda waiting for that to happen before I get my hopes up lol
Yeah I understand that completely. I have this worry that they're good as long as things are going up, but how fast can they adapt when things go the other way. It's always a worry of mine. Unfortunately, I'm not good at seeing the difference between a dip and a bear market :)
I got onto etoro after ubisoft shares tanked so hard and i thought, well, why not buy 1k worth of it and see what happens? But you're right. It's dumb. I am gambling on them getting back to 80usd per share Etc blablablah It would be just easier to save money 😂 I'd make more returns
Thomas if I where you I would add a crypto trader who does Crypto. Solana is gonna 10x the next year and you could document it and use it as content for your channel. But remember to not use the copy stop loss for crypto.
Hey Tom, I am a fellow trader on eToro since 2012 but I have never signed up as a trader to be copied. Last time I looked your risk score had to be below 6 in order to be payed for having copiers. Do you know if that is still the rules?
Great video! I was just wondering about e toro if you could actually withdraw your money? I am a very beginner but been on another app and it had a limit. You could only withdraw the max amount what you added. For example if you transferred 100 eur you could only withdraw 100 at once.
Hi there - I haven’t had any trouble withdrawing money so far, but then again I’ve just left it in there most of the time. I think the last time I withdrew any was a few years ago now, so not sure what the current system is..
@@SocialTrading I was wondering. What kind of risk ratio do you stay in? Is it risk scores of 1-2 max, or do you go on medium score of like 3-4 too? Also how many traders do you copy.
Hi Tom, very good advice, when I begin to panic I go back to your advice and this really helps calm me down when I see red in my portfolio 😃Thank you, hope you are doing well.
I hope it turns around! The markets seem to have been doing well recently,. and I missed it all - i took most of my money out and didn't put it back in before the big swings up recently. Still only really copying Amit properly.
I started on Etoro around four years ago, hoping to capitalize on the post-COVID-19 boom that didn't materialize. After many mistakes, I am up around 5.5%, which I could have made in a savings account.The best advice I can give is to bail out of a losing position ASAP!
@@SocialTrading Don't really worry about stop losses what I mean is for example I had positions in Tesla and Fiverr which were constantly in the red so I sold them at a loss and reinvested in AI which did well!
@socialtrading, I have never traded nor copy traded. Your videos popped up on my search how to earn profits copytrading. How do I start 😁. I am serious. Need to earn 👍🏻🙏🏻. Are you Tom west on any social media please 🙏🏻 need to connect 😊
Great video and good points. In my 5th year of trading and finally being consistent in my trading I made some big mistakes just like you mentioned, I did leverage, I didn't sell when I should, I thought it would be easy, I had confirmation bias and only looked short term. The two biggest things I have learnt to become finally reliable trader is to remove emotion from the trades. Don't pick things because it's got a good-sounding name or someone on a video made you feel good about a stock etc. Just use maths and set stops, take profit and assess risk. Patience is key, nothing goes the way you want immediately it may take weeks months or years to play out as you expected, so don't expect that quick win always plan for the long term and if it hits profit quicker then take that as a win rather than expectation. Overall it was a tough learning experience over the first 3 years and 4th year I turned it around but even now I think am I really reliably trading or is it confirmation bias, will know in the 6th,7th or 8th year I guess.
Hi, you are right etoro makes it a little easier with copy trading. You have copied swissway he is starting to gamble and blowed alot of peoples money. He should watch this video 😂
Somebody showed me his stats the other day and I couldn't believe it - what a terrible month he had. Hopefully he can right the ship again and get better perspective.
Thanks for being honest and very true to what you said. People jump in all without taking risk and that's a biggest mistake i would say. What saved me was the habit I had to write down my expenses and keep a track of all my expenditures monthly and then yearly.I did the same with my trades, I am very new but climbed my way up slowly and still learning from people like you, the Gen X fails to understand that, they want everything fast and without any efforts and big gains as well. Patience is the key, thanks for your content.
I find this statement "Passive income" funny because in reality we need to be on the PC at 2:30 pm when the market open (US) and decide what to do: buy, sell, hold, set limits, buy more, and much more...and this 'passive income' is only in the name.
I would suggest you're doing passive income wrong or misunderstand the concept. Everything is a level of activity or passivity. Either prior to purchase or in planning a sale. It is possible to be Active/passive in stocks so plenty of work selecting a stock to buy then just passively receive income from the dividends.
@@dels-life I understand your point about the varying levels of activity in passive income strategies. However, I still believe that the term 'passive income' can be misleading in the context of stock trading. While it's true that you can set up a dividend-paying portfolio and receive income without actively trading, the initial selection and ongoing monitoring of those stocks require a significant amount of time and effort. To maximize returns, many investors find it necessary to actively manage their portfolios, making adjustments based on market conditions and individual financial goals. This often involves frequent trading, which contradicts the idea of passive income
It is good to have a reality check and also to set realistic goals. Most people will ever invest in a passive index tracking fund. Set it and forget it. A realistic goal would be to actively manage it. Either by having 2-3 Indexes or ETFs and actively adjust. Or if more advanced, be aiming to be selling high and buying low. The next step could be swing trading, by learning to recognize more rare and solid opportunities and be able to take advantage of those. Proactive swing trading and day trading, is likely the latest stage and requires the most experience and skill. There is no shortcuts to it... it requires you put in the time, learning and the practice.
@@bahadirozer gambling means less than 50% of winning... Day traders still make informed decisions and manage risk/reward ratios, so in the long run they are in the green. It can be as simple or as complicated as one wants to make it...
I find it's good to do a reality check once in a while. What I do is I run a custom account statement for several years back to analyze to see if I made much money or not over the years.
@@SocialTrading Well to avoid the pitfalls I found it was good to listen to the popular investors like Wesley, Ruby and Jay Nemesis. Your videos also helped me. In 2022 I had a large draw down. Crypto was the worst. I kept buying the dip, but the dip kept dipping. I sold everything but added to positions as if I was starting over. I did open a large enough short position on the Nasdaq and spx500 which I made a little back. I am back in profit now by a small amount.
If you don't have the love you are doing right by copying traders - I treat it like a challenge and it facinates me - keep making videos - everything you do I haven't so I learn thats good
I could and would, never spend as much time on trading and learning to trade as some people on eToro. I caught myself thinking how arrogant I would be in thinking I could do better than some of the people who live and breathe trading like JeppeKirkbond or Zach etc. So why not just copy them :)
There’s the occasional one way bet which I’ve been lucky to have with Nvidia and Petrobras, but beyond those infrequent Black Swans these days I’m following traders and some of the smart portfolios on EToro…..Currently that’s working, but let’s see.
DividendGrowth has been very good, out performing the S&P and providing dividend payments too. CongressBuys and OilWorldWide less so but I’m prepared to be patient.
DividendGrowth works well. It’s beating the S&P and provides some dividend income too. Others like CongressBuy and WorldWideOil, not so much, but I’m happy to play the long game
There was a time where I tried to only copy fx traders as I thought they’d be able to react faster - not being biased to trading in any given direction. It’s incredible how they all fell like dominoes.
I have lost around 50% copying someone so I closed it. Copiers are asking on his feed if he is doing it on purpose at this point. I don't know if it's safe to mention on here. I also have copied a lot of people in the virtual portfolio since 2021/22. They were terrible or average. Smart Portfolios seemed better.
Wow, sorry to hear that. Someone pointed out that one of the traders I stopped copying has drawn down 30-something percent this month. When they suffer losses, I think sometimes they just double down and chase them - it’s really amazing how quickly they can rack up those losses. Not sure what to make of it
Hillarious !! Some of the most copied traders are actual professional or highly qualified semi pro's. It's the obvious place for us noobs to start and learn. It's the most risky thing you can do with your money so you would be mad not to. Thanks for your excellent videos !
Statistically it does seem a good plan. I do see the guys I’m copying consistently beating that though. I can’t tell what’ll happen in future and I can see that an individual trader may be way riskier. Maybe I’ll put a portion of my funds in an index tracking etf… I’ll think about it.
@@SocialTrading I mean the copy portfolios, because you have nothing to do. But, I am not sure, that this is the best method, maybe manually picking the stocks would be more cost efficient, because the quarterly adjustment is not that important, and it has some cost.
I do my own trading but don't do much research though I do copy two guys one of them being Amit. I use people like Questor in the Telegraph or Prof G markets(Scott Galloway) for ideas.If however one of the guys I copy starts a position I will copy it in my own account if it looks promising!
It is pretty insane for people to criticise retail investors on Etoro for "copy trading". It's a bit like, I dunno, knocking someone for hiring an accountant instead of doing the books him- or herself... (-EDITED-)
Do I want to be a trader? No. Did I want to be a chartity worker/activity facilitator by day and shelf filler by night? Also know but I've been in thar equilibrium for approaching 3 years now, but I also know it's not sustainable. The lines from a mid-naughties song occur to me "Something's gotta giiiive. Something's gotta giiiive. And I don't know-oe-oe..."
I hope it all works out. There's always the practicalities of life to consider - I just know that over the long run, it's much easier if what I'm doing's also something I really can enjoy at least in some way.
@@SocialTrading i guess the real point is that copy trading is something that can be set up and monitored, and requires much less mental bandwidth when compared to rewiring your brain, which is effectively what you'd need to do to become a "proper trader"
Yep, what is it that I'm not able to do due to all the time and consciousness trading is taking up. Is the non-trading thing that I'm doing my actual passion, or making me enough money that it makes no sense to devote my attention to something else. If so, copy trading is quite an amazing idea. If you're doing a job you hate, then switching to trading might seem really attractive even if you're not interested simply because it has the potential for more money, but would that be sustainable...
Yeah, it's a huge factor in everything. I guess the trick is to find something we actually like doing, can do at least to some degree naturally, and which pays well.
I do long term investing on solid stocks. Been doing this for about 20 years. Not many trades but you have to stay informed and diciplined. I even started a company recently. Based in Switzerland. Reach out to me if you want to know more 👌🏼👍🏼
Jeremy I'm doing exactly the same. I own a company and I believe we follow the same strategy. Wanna exchange some stocks and see whether we missed something? I'm sure you invested in Alibaba or some other chinese company. I swear I'm starting to sound like a bot. lol
Copy trading is what got me into eToro when i first got interested in trading a long tiem ago. I havent used copy trading for years though and am trying to learn to trade and manage my risk myself instead of relying on someone else.
