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
eToro one Million challenge – 21$ profit on March 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.
At the moment, I’m a little off schedule because I’ve made $ 3400 in deposits, even though the plan was to deposit only $ 3,000 by this time. I made these contributions because I noticed good opportunities to invest, but there were no spare funds available in the eToro account.
I have now invested much of my money in cryptocurrencies, as they are not reaching new heights and do not look like they are about to stop. In total, I have invested a little over $ 1,400 in cryptocurrencies.
April eToro trading was very good compared to March. The profits tells the story – if in March it was $ 21, then in April it was 10x higher -210 $. In April, I experimented a lot with cryptocurrency trading, which went good because I closed all my positions with a profit. The stocks climbed a bit on the positive side! It should be mentioned that I had a loss of $ 900 in one point on March, but I ended it with a profit of $ 500 (looking at open positions).
The real situation
Finally! Finally I see something green in my account! And the green thing is the return on my total investment!
In the picture above, my current situation and in the bottom, last month’s situation. At one point, losses from open positions amounted to as much as $ 900. I am not very worried about that, because I knew that my positions would soon improve. After a long time, I was already looking at a $ 500 profit, which in one day turned into a $ 50 loss again and has now returned to the profit side, at $ 50.
This probably indicates the weak diversification of my investment portfolio, because such huge increases and decreases in the value of the portfolio are not a good thing. But at the moment, I’m pretty sure the assets I’m holding will soon reach unprecedented heights.
Since January, I have been holding and following the COVID vaccine manufacturer Ocugen, which is soon planning to enter the American market with its vaccine.
I have invested more than a quarter of my funds in OCGN. I am aware that I risk losing all this money, but the potential benefits here are many times greater.
When you look at the value of shares in another company that makes COVID vaccines, you can see miraculous things! A great example is the Novavax (NVAX) stock, the value of which increased almost 70 times in 4 months – from $ 4 to 300 + $ !!! Take a look at the picture below and think about if you had invested $ 1,000 in the NVAX stock in February last year – now you would have $ 45,000, but at the high point even $ 79,000 (which is not shown in this chart, but is shown in the 6-month chart)
So my risk is $ 1150, but the potential profit is about 10-30 times! Given that, on average, if I bought $ 8 per share, if the OCGN price rose to $ 100, my 142 shares would already cost $ 14,200, which would be a 1250% return on investment. So I have high hopes for this stock and I am ready to lose all my investment.
My investments in Copy People
Right now, I’ve stopped copying all the people on the eToro platform because I’m investing that money in cryptocurrency markets. While cryptocurrencies are hot, I decided to take the risk and invest in them. To do that, I had to stop copying people where I had invested more than $ 1,000. At the moment, I think it’s pretty safe to bet that the value of cryptocurrencies will grow. The return on this investment is also many times higher, because my Copy People have been returning 2-5% profit per month so far, but you can expect up to 20% profit per day from the crypt (of course, also 20% loss).
More profit = more risk. But with my relatively small portfolio, I have to take more risks to see significant returns
In the image below, you can see my eToro account statistics for this year. 23.68% plus in March!
What happened in the stock market in April?
The stock market in April began a slow recovery from the collapse that took place in February-March. The value of stocks is slowly starting to go up again, which means it is a good time to invest money in stocks.
Certainly, this is slower than in 2020, because a very large part of the money available to people is invested in crypto market.
The cryptocurrency market has already reached $ 2,297,841,489,883, or nearly $ 2.3 trillion.
It’s a shame that a cryptocurrency like Dogecoin is in 4th place after market capitalization. Dogecoin is a cryptocurrency created after a joke and has no use in real life. Its value grows only because people invest money in it in this joke. Instead of investing money in real companies with real products, people choose to invest in a “dog coin”.
In general, 95% of all cryptocurrencies have no real-life use, so I’m sad to look at the crypt market. Plus, an incalculable amount of energy is consumed in maintaining and exchanging these useless currencies.
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.