The aim of this new blog is to keep me motivated and on track to become a good trader. And having read from different sources, it is highly recommended that i keep a trading diary with pictures of my trades.
This blog is meant for exactly that – to talk about my trading strategy and to post pictures with explanations of my live trades. I am going to be trading over at Etoro Social Trading Platform, which in my opinion is the best broker for new traders. I know that their spread is bigger than some other brokers, but having tried a few, I find etoro to be the most noob friendly. The main thing being that I can start with little money and manage my risk well enough.
Check the video for the platform introduction if you don’t know what it is already:
One cool feature that they have is the ability to copy other traders, that are successful. How do you know that they are successful? You can see their track record. I’ve found a few traders who seem to make a consistent return. I follow their trades and try to understand what their logic behind making these trades was.
You are also able to copy other people with your own money. Eg. if you find 2-3 people that have made a decent amount in the markets, you may put your money to copy their trades. Given that you have chosen wisely, you should have a diversified portfolio earning you a decent return.
Now having much more interest in the markets, I don’t only stick to copying, I also want to learn trading myself to be able to make money myself and maybe become someone that others want to copy one day.
For those reasons I am keeping this diary to help me stay disciplined, as I have to write here every trade I make with a photo and reasoning. I will also add the end result and what I should learn from it.
Stay tuned 🙂