About a year ago a i saw a friend betting on soccer on a site called Betfair so of course i asked what he was doing, and the answer changed my life. He told me he was not betting, he was trading and then he explained how he did it. And of course, the following months he and I started working on a betfair bot.
A couple of weeks before the premier league season ended we started to test our bot with real money with mixed results. So days with a healthy profit and some day with a loss. After that i got a daughter and the work on the bot slowed down. He continued to work for a bit but eventually we gave it up, but i couldn’t let it go, I was constantly thinking of how to improve the bot. So after two months without working I had a lot of ideas. But every time I got the same result, pretty much even. Since it was summer there wasn’t much soccer action so i ended up looking at horse racing instead where i tried to predict price changes with a bot running a neural network with a lot of inputs. I would say i was successful in 60% of the cases, and with commission i ended up breaking even again.
So after this i took a break again, and read a lot of books on technical analysis, candlestick charting and other trading books and tried to apply it to horse racing, but it was the same problem every time, low liquidity and too much noise. The only time i was able to trade was the last five minutes before each race. And since i was looking for specific pattern i ended up doing a maximum of one trade a day, on a good day. Sometimes it was weeks between trades. And combined with low liquidity i couldn’t go in with too much money. So i realized it would never work.
Since I had read a lot of technical analysis i had come a cross websites speaking of forex trading, and in my mind it was the same as stock trading. I thought i needed a lot of money and that it would go slow, so nothing for me. But since the soccer or horse bot didn’t pan out i was looking for something new. So i gave it a shot and started reading, and it sounded easy.
After a while i found MetaTrader and downloaded it and opened an account somewhere and started trading with a demo account. The first weeks i won every single trade, just going on gut feeling. I couldn’t explain why i put an buy or sell order, but it worked every single time. I was feeling confident and that i should out some money in it. I just didn’t know where.
After some an evening with Google i found something called social investing on eToro. A website where you can copy another trader. So just find one trader and copy every trade he/she does. Sounded a bit easy. But my plan was to copy a trader with 50% of my money and trade myself with 50%.
I started following one person called “noasnoas” and and also put my first order in (A sell order on EURUSD). The first day I made something like 10 cent on my copied trades and $10 on my own trades. All my trades where still green. The same week I made a couple of more successful trades and now i started to explain why the price should go up or down. The only thing was that my result started to take a turn for the worse. After 5-6 losses i stopped trading with real money and moved all my money to copy trades instead.
As of right now i copy five traders with 99.5% of my balance, but i still trading on a demo account as well and trying to learn.
The copying has increased my portfolio with 13% in less than two months which is great, but I want to do it myself, not only copy.
So this blog will follow my quest to be a profitable trader and of course follow my result from eToro.
I you want to give eToro a try, use this link to get started. The best way to get started is to find someone to follow ot just follow me (EvilDazze), that way you will be copying all trades i´ve copied.