As someone who has traded stocks for a number of years and advocates the importance of investing in the stock market, I receive questions every day on my social media and Etoro page. Below are some of the most frequently asked questions that I have received:
IS NOW A GOOD TIME TO INVEST?
Nobody knows how the market will perform in the short term so it’s hard to suggest the best time to buy stocks or to copy me. If you can avoid investing in stocks when the market is at an all time high then that would obviously be better and it could be argued that a good time to invest would be during or shortly after a dip in the market but, if you are investing with long term goals as I do, then waiting for a 2-3% pull back or dip in the market really isn’t worth the risk of missing out completely. If you have the money to hand, I would personally invest in the market as soon as possible.
HOW DO I COPY YOUR INVESTMENTS?
Thanks to the most innovative investment app ever invented, all you need to do is join the platform, invest with as little as $50, search for “ConHoulihan” and click the copy now button.
HOW MUCH CAN I INVEST?
Because of my diversified investment portfolio, I may only allocate 1% of my portfolio to a particular stock. As eToro’s minimum copy trade is $1, you would have to invest at least $100 to be able to copy my trades. I do want to emphasise here however that you should only invest what you can afford to lose as trading does carry risk.
HOW MUCH SHOULD I COPY YOU WITH?
As mentioned above, I would only suggest investing what you can afford to leave untouched for at least a couple of years. Nobody can guarantee that the stock market will be higher in the short term and you want to avoid having to take out your money or selling your shares at a loss.
SHALL I COPY OPEN TRADES?
When copying an investor on eToro, you will be given the choice of either copying their existing (open) trades or begin copying new trades only (trades made by that investor from then on). If copying me, I suggest copying my open trades as I only make a couple of adjustments to my portfolio every quarter and I only leave positions open if I expect them to increase in value.
WHEN YOU CLOSE A TRADE WILL MINE CLOSE AUTOMATICALLY?
Yes, if copying me then your account will mimic mine and you do not need to close or open trades manually.
WHEN SHOULD I SELL MY STOCKS / UNCOPY YOU?
If you have not over invested and your goal is to grow your savings over a long period of time, there really would be no reason to uncopy me or to close your trades. My aim is to continue to grow my portfolio over decades as this has been proven to be the most successful way to make money on the stock market. However, if you have reached your investment goals then that would be the time to uncopy me or to close your trades.
HOW DO I WITHDRAW MY MONEY?
You can withdraw funds from your eToro account at any time. You do this by clicking on the “withdraw funds” button on the home page. It should take 3-5 working days to process.
WHAT ARE THE RISKS INVOLVED WITH TRADING, WILL I LOSE MY MONEY?
Investing in the stock market or copying me is not risk free and there is a possibility that you could lose your money. Despite this, the stock market has always provided long-term and diversified investors with fantastic growth if they trade correctly.
Again, I would emphasise only investing capital that you can afford to lose as past performance does not necessarily guarantee future results.
For all other questions about strategies and individual stocks, check out some of my blog posts, my profile on eToro or my Instagram account. For any other questions, feel free to contact me on eToro!
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