If you are reading for the 1st time it is a good idea to read my 1st post so you can better understand my goal. If you would like to follow along it is not too late, you can sign up and start copying traders at Etoro here, if you decide to sign up please keep me updated as it would be good to see how your journey plays out.
At the moment the best traders on the platform are trading crypto currencies and making fortunes with crypto currencies like Bitcoin. For me this strategy is better than buying Bitcoin outright as they will also “sell” Bitcoin if they believe the price will start to decline.
The idea of my blog is to follow along my journey using the Etoro platform to copy traders that have a good record of return.
You can see my portfolio as at the beginning of September below, this was following one good month with Jay Smith (Jaynemesis) where he had achieved close to my aim of 10% per month and also I had just invested in Mike Letard (MicmikLikemike). Both traders trade many markets however at the moment they are both focused on Bitcoin.
Fast forward to today and you will see Jay has made a whopping 50% and Mike 26% in just 4 and 3 months respectively making me a total of $810 interest/profit. This is a total of 42% increase on my money in 4 months which is exactly the 10% increase per month we initially started out to achieve.
Now I know i’ve not followed our plan completely (see the original table below) by adding monthly deposits however the the traders have been that successful that I am still very close to my target in by the end of November.
| Month | Month Deposits | Month Interest | Total Deposits | Total Interest | Balance |
|---|---|---|---|---|---|
| 1 | $130.00 | $1,300.00 | $130.00 | $1,430.00 | |
| 2 | $500.00 | $193.00 | $1,800.00 | $323.00 | $2,123.00 |
| 3 | $500.00 | $262.30 | $2,300.00 | $585.30 | $2,885.30 |
| 4 | $500.00 | $338.53 | $2,800.00 | $923.83 | $3,723.83 |
| 5 | $500.00 | $422.38 | $3,300.00 | $1,346.21 | $4,646.21 |
| 6 | $500.00 | $514.62 | $3,800.00 | $1,860.83 | $5,660.83 |
| 7 | $500.00 | $616.08 | $4,300.00 | $2,476.92 | $6,776.92 |
| 8 | $500.00 | $727.69 | $4,800.00 | $3,204.61 | $8,004.61 |
| 9 | $500.00 | $850.46 | $5,300.00 | $4,055.07 | $9,355.07 |
| 10 | $500.00 | $985.51 | $5,800.00 | $5,040.58 | $10,840.58 |
| 11 | $500.00 | $1,134.06 | $6,300.00 | $6,174.64 | $12,474.64 |
| 12 | $500.00 | $1,297.46 | $6,800.00 | $7,472.10 | $14,272.10 |
| 13 | $500.00 | $1,477.21 | $7,300.00 | $8,949.31 | $16,249.31 |
| 14 | $500.00 | $1,674.93 | $7,800.00 | $10,624.24 | $18,424.24 |
| 15 | $500.00 | $1,892.42 | $8,300.00 | $12,516.66 | $20,816.66 |
| 16 | $500.00 | $2,131.67 | $8,800.00 | $14,648.33 | $23,448.33 |
| 17 | $500.00 | $2,394.83 | $9,300.00 | $17,043.16 | $26,343.16 |
| 18 | $500.00 | $2,684.32 | $9,800.00 | $19,727.48 | $29,527.48 |
| 19 | $500.00 | $3,002.75 | $10,300.00 | $22,730.23 | $33,030.23 |
| 20 | $500.00 | $3,353.02 | $10,800.00 | $26,083.25 | $36,883.25 |
| 21 | $500.00 | $3,738.32 | $11,300.00 | $29,821.57 | $41,121.57 |
| 22 | $500.00 | $4,162.16 | $11,800.00 | $33,983.73 | $45,783.73 |
| 23 | $500.00 | $4,628.37 | $12,300.00 | $38,612.11 | $50,912.11 |
| 24 | $500.00 | $5,141.21 | $12,800.00 | $43,753.32 | $56,553.32 |
| 25 | $500.00 | $5,705.33 | $13,300.00 | $49,458.65 | $62,758.65 |
| 26 | $500.00 | $6,325.86 | $13,800.00 | $55,784.51 | $69,584.51 |
| 27 | $500.00 | $7,008.45 | $14,300.00 | $62,792.96 | $77,092.96 |
| 28 | $500.00 | $7,759.30 | $14,800.00 | $70,552.26 | $85,352.26 |
| 29 | $500.00 | $8,585.23 | $15,300.00 | $79,137.49 | $94,437.49 |
| 30 | $500.00 | $9,493.75 | $15,800.00 | $88,631.23 | $104,431.23 |
| 31 | $500.00 | $10,493.12 | $16,300.00 | $99,124.36 | $115,424.36 |
| 32 | $500.00 | $11,592.44 | $16,800.00 | $110,716.79 | $127,516.79 |
| 33 | $500.00 | $12,801.68 | $17,300.00 | $123,518.47 | $140,818.47 |
| 34 | $500.00 | $14,131.85 | $17,800.00 | $137,650.32 | $155,450.32 |
| 35 | $500.00 | $15,595.03 | $18,300.00 | $153,245.35 | $171,545.35 |
| 36 | $500.00 | $17,204.54 | $18,800.00 | $170,449.89 | $189,249.89 |
| 37 | $500.00 | $18,974.99 | $19,300.00 | $189,424.88 | $208,724.88 |
| 38 | $500.00 | $20,922.49 | $19,800.00 | $210,347.36 | $230,147.36 |
| 39 | $500.00 | $23,064.74 | $20,300.00 | $233,412.10 | $253,712.10 |
| 40 | $500.00 | $25,421.21 | $20,800.00 | $258,833.31 | $279,633.31 |
| 41 | $500.00 | $28,013.33 | $21,300.00 | $286,846.64 | $308,146.64 |
| 42 | $500.00 | $30,864.66 | $21,800.00 | $317,711.31 | $339,511.31 |
| 43 | $500.00 | $34,001.13 | $22,300.00 | $351,712.44 | $374,012.44 |
| 44 | $500.00 | $37,451.24 | $22,800.00 | $389,163.68 | $411,963.68 |
| 45 | $500.00 | $41,246.37 | $23,300.00 | $430,410.05 | $453,710.05 |
| 46 | $500.00 | $45,421.00 | $23,800.00 | $475,831.05 | $499,631.05 |
| 47 | $500.00 | $50,013.11 | $24,300.00 | $525,844.16 | $550,144.16 |
| 48 | $500.00 | $55,064.42 | $24,800.00 | $580,908.57 | $605,708.57 |
| 49 | $500.00 | $60,620.86 | $25,300.00 | $641,529.43 | $666,829.43 |
| 50 | $500.00 | $66,732.94 | $25,800.00 | $708,262.37 | $734,062.37 |
| 51 | $500.00 | $73,456.24 | $26,300.00 | $781,718.61 | $808,018.61 |
| 52 | $500.00 | $80,851.86 | $26,800.00 | $862,570.47 | $889,370.47 |
| 53 | $500.00 | $88,987.05 | $27,300.00 | $951,557.52 | $978,857.52 |
| 54 | $500.00 | $97,935.75 | $27,800.00 | $1,049,493.27 | $1,077,293.27 |
| 55 | $500.00 | $107,779.33 | $28,300.00 | $1,157,272.60 | $1,185,572.60 |
| 56 | $500.00 | $118,607.26 | $28,800.00 | $1,275,879.86 | $1,304,679.86 |
| 57 | $500.00 | $130,517.99 | $29,300.00 | $1,406,397.84 | $1,435,697.84 |
| 58 | $500.00 | $143,619.78 | $29,800.00 | $1,550,017.63 | $1,579,817.63 |
| 59 | $500.00 | $158,031.76 | $30,300.00 | $1,708,049.39 | $1,738,349.39 |
| 60 | $500.00 | $173,884.94 | $30,800.00 | $1,881,934.33 | $1,912,734.33 |
I’m going to add another £500 today ($669) however I’m going to follow another trader Stephen Bliss (stebliss), this is to reduce the potential impact of one trader having a bad month.
Okay so this is my portfolio going into December. Hopefully you can now see the power of “compound interest” and that is achievable to get to $1 million in 5 years. If I follow the planned table above completely adding correct deposit amount and receiving 10% interest on the balance each month then I would be at $2 million by year 5 so we can afford to loosely follow to reach $1 million.
Here is an update of our actual results:
| Month | Month Deposits | Month Interest | Total Deposits | Total Interest | Balance | Month Interest |
|---|---|---|---|---|---|---|
| 1 - Aug 2017 | $1300 | $120.16 | $1300 | $120.16 | $1420.34 | 8.46% |
| 2 - Sep 2017 | $603 | $121.26 | $1903 | $241.42 | $2144.42 | 5.99% |
| 3 - Oct 2017 | $0 | $202.17 | $1903 | $443.59 | $2346.59 | 9.43% |
| 4 - Nov 2017 | $0 | $375.1 | $1903 | $818.69 | $2721.69 | 15.98% |
| 5- Dec 2017 | $669.25 | - | $2572.25 | - | $3390.94 | |
| Average Interest | 9.97% |
We are $1001 ($3,723-$2721) short of where following the plan exactly would have left us at the end of November however I have also not added $1000 in deposits. This puts us slightly back, so I plan to up my contribution over the next few months.
If you have already started or you are interested in joining Etoro to start your journey you can instant message me on Skype: innovseo to discuss or sign up here.
I will try to add my next update at the end of January.
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