I have posted some articles about eToro social trading platform before. And in one of them I talked about compound interest and how can you turn 2000$ into one million dollars in 10 years. I have accepted this challenge and I will make monthly reports about my progress.
I will make public reports on my investments in the eToro social trading platform every month. You can read why I chose the eToro platform in the previous article – My experience with eToro social trading platform.
You can also read how much did I earn with eToro in previous months:
eToro one Million challenge – 260$ profit on January 2021
eToro one Million challenge – 155$ profit on February 2021
So my investment strategy is as follows – start-up capital of $ 2,000 and then make monthly contribution of $ 200. At the beginning of January, I topped my account to have 2200$ available to invest. I will make each subsequent deposit on the first day of each month. The total amount of my own investments per year will be $ 4400 in the first year and 2400$ in the following years.
It’s hard to find good words for March when it comes to trading on the eToro platform. I only made three deals this month that brought me $ 21. Of course, I again missed the opportunity to make a profit, hoping that the price of certain assets will continue to go up, but after a while I realized that they had lost value again.
You may have noticed in the table above that I made a $ 700 deposit in March. I paid $ 200 because I had to make it at the beginning of each month, and I made another $ 500 in the middle of the month to buy Cardano (ADA) cryptocurrency. In total, I have invested $ 550 in this cryptocurrency and at one point it was even + 30%, but now it has deviated to + 10%.
I will not make any new deposits for the next two months so that I can return to my investment plan at some point. Hopefully by then this cryptocurrency will have doubled in value!
The real situation
For the third month in a row, I say in my reports that I have earned anyway, but the real situation is a little different – the shares have been sliding down for two months now, so at the moment I am at a loss of $ 460.
There is such an unwritten rule in the stock and cryptocurrency market – as long as you have not sold a stock at a loss, you have not lost anything. And I adhere very much to this principle, keep my shares open with minus signs, because sometime – even after a year, they will regain their previous value and I will be able to sell them at a profit.
My biggest expectations were for the OCGN stock, which is expected to rise sharply, but it continues to stagnate and even fall slightly. The saddest thing is that I have already been able to sell this stock twice with a profit of more than 100%, but I have not done it once and now its value is to me with a minus sign. In monetary terms, I missed out on a profit of about $ 800 without selling this stock and hoping it would climb even higher. Below you can see my investments in this stock.
My Investments in eToro Copy People
In March I copied 3 people. I stopped copying one person because of a system error and some of the money invested in this portfolio was returned to my account. This investment was in Can Zhao’s portfolio and I closed it with a profit of $ 14.02.
Harry Stephen Harrison (-1.48%)
Hugo Angelo Lucien Manenti (1.05%)
Jeppe Kirk Bonde (2.28%)
The results of previous months are not an accurate indicator of future results.
My investments in other people’s portfolios or Copy people in March were positive, but with very little profit. Again, I’m not very sad about that, because these portfolios were definitely much better than my personal portfolio, which was operating at a loss of 9.45% in March.
However, I am a little reassured by the fact that last year March was also the worst month in the stock markets, when the market collapsed and then recovered for the rest of the year. I hope that this year will be the same and at the end of the year I will be able to look at a nice return on my investment.
What happened in the stock market in March?
The stock market in March was very boring and most stocks continued their decline, which started in the second half of February. This is also evidenced by my activity on the eToro platform – I closed only three trades and opened only two in March – I bought Palantir (PLTR) shares and Cardano (ADA) cryptocurrency.
My stocks, which are predominantly in the green energy and medical sectors, have lost significant value. I would not like to believe that health and care for our planet have remained insignificant for two months.
Probably what is happening now can be called the collapse of the stock market, the same as it was in 2020, when in many countries the red button was pressed and the arcade was turned on.
What is a stock market crash?
The collapse of the stock market is a sudden and significant fall in the value of shares, which forces investors to sell their shares quickly. When stocks fall in value, so does their price – and the end result is that people can lose a lot of money.
It now looks like the global economic situation will start to pick up again if, of course, the third wave of COVID19 is not announced. In this regard, I still have high hopes for an increase in the price of my OCGN share. If the price of other similar stocks is $ 50-200, then the price of this stock is still only $ 6 and its potential is very high.
What resources do I use to find out the news about the hottest stocks?
One of my favorite resources to find out what’s going on in the stock market is the social network for investors called Stocktwits. The main advantage of this portal is that each ticker has its own news feed, in which all users of this network can share their thoughts on stocks, cryptocurrencies and other assets.
Another very cool thing this network offers is tracking specific stocks. You can track these stocks and see the pre and post market price action for these stocks – see if the value of these stocks increases or decreases after the market closes. It is interesting to see what will happen to your stock portfolio before the market opens.
Also on the eToro platform, each user has the opportunity to start a discussion at any stocks new feed. It is interesting to compare people’s opinions on both websites.
I’m also watching a Youtube videos to learn useful lessons about specific stocks, the stock market in general and investing strategies. I also use Google if I can’t find the answer in one of the resources above.
What would I suggest to you if you decide to try your hand at the eToro trading platform?
I can offer you a € 50 bonus if you open an account using the link below and make a deposit of at least $200. I will transfer this bonus to your Paypal, Skrill or Revolut account. The eToro platform does not offer any bonuses to new customers. On the eToro platform, I would recommend you to try the Copy People feature as well as buying stocks yourself. The minimum amount of money you can copy for a person is $ 200, the minimum value for which you can buy a stock is $ 50, and cryptocurrencies can be purchased starting at $ 25.
I would suggest you try trading on the eToro platform, even with a free DEMO account, where you can risk-test all the features of this platform and decide whether you want to invest $ 200, $ 500 or $ 1,000.