Well it is the end of another week and time to report on what I did with our money and our community. Just to be clear, I do consider them both OURS and not MINE.
Well to start with, many things went wrong for us this week:
Firstly, the JPY strengthened due to a haven bid after Turkey shot down a Russian jet and a war of words began.
Secondly, our USDCAD buy order at 1.3285 just missed out by 4 pips. It currently sits at 1.3370, so unfortunately we missed out on 85 pips there.
Thirdly, due to the US holiday, we had a quiet finish to the week.
In spite of all of this I am happy to report that this week, we made a profit with overall account equity (withdrawable cash) increasing by 5%. This bring our total for the month to over 72%, which is more than 350% of our 20% monthly target and means that this week we have made several hundreds of thousands of dollars for our copiers. That in my opinion is a great achievement given the amount of investors who had had catastrophic losses this month.
So in short, the account is very healthy, and growing(in real terms and balance terms) and we continue to surpass our targets. I am delighted with our progress on the trading side.
With regards to our community, I could not be prouder. The foundation graduates continue to debate strategies amongst themselves and are improving. Evidence of this is apparent in the fact that many of them are opening their own trades with a high degree of success and profitability. I could not be prouder of them.
Also posting less on Etoro has been spiritually good for me, as I do not encounter spam or trolling as much and yet I am still able to interact with my copiers effectively. I feel this has improved my clarity of thought, so I will continue to communicate via the blog and forums instead of via my Etoro wall.
Also will maybe try to make this site a little prettier as well, since many people are using it regularly now.
Next week will bring many opportunities and we will enter new trades (will be posted on the forum on Sunday night as usual).
There are key economic events that we should be mindful of including (So all of you check your economic calendars). For example, just off the top of my head, I can recall:
Australian Interest Rate Decision
ECB meeting on Wednesday
Non-Farm Payrolls on Friday
Will be using a secondary platform in addition to Etoro to trade securities that Etoro does not feature. Will share details when the community and I finalize our choice. A draft of the post seems to have been sent to some people by accident, (the subscribers). Please do not sign up for it yet. The draft has been prepared along side my forum post to save me time in future (I am very busy these days) and while I made the withdrawal request and it was approved with no fees, it will take up to 4 days to arrive. Before I publish it properly, I want to make sure that all goes smoothly, otherwise if something goes wrong, I will feel responsible.
Finally, let me thank you all for taking the time to read my thoughts and wish you all an excellent weekend.