You’re never too young to start taking an interest in online trading. Just ask Omar (@OmarESTA) from Spain who became an eToro Popular Investor at the age of 23, after spending several years honing his trading skills. His 80/20 mix of technical and fundamental analysis helps him when making trading decisions and he agreed to share more about himself and his trading strategy with us:
75% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
- Tell us a little about yourself, what do you do for a living? For fun? Family?
Hello everyone, my name is Omar, I’m a 23-year-old student and I am dedicated to trading as a way of supporting myself financially. In my free time, I like to play sports and read in order to extend my knowledge. I also love to travel and learn about new cultures because I think that makes us improve as people. Since I was little, I liked maths and financial markets. Numbers intrigued me so I started to train on my own. After some years during which I lost money, I decided to retire from the markets, but I continued to train, since trading seemed an excellent source of income, as it did not require much effort, and gave me a lot of free time. After several years out of the market, I decided to return with some money, and that was when I joined eToro. With my new strategy, I managed to make some small profits, which motivated me to continue, and every time I had some available money, I invested it. Little by little, I managed to generate gains that, although are not going to make me a millionaire, allowed me to have an average standard of living, with a lot of free time to enjoy the things that I like.
- Where do you do your research on the instruments in which you invest?
I would say that my investment strategy is 80% technical analysis and 20% fundamental. Currently I trade currencies, raw materials and indices. When analysing graphs, I focus on looking for support and resistance levels, large movements, and looking at overbought and oversold levels. I do not use indicators, because with so many graphs, it would be crazy to read them all, so I trust what I have learned and observed for many years in the markets. With respect to the fundamentals, I do not have a new source that I trust 100%, so I read several, trying to compare the information, so I won’t make mistakes.
- Did you have previous experience with financial investments before joining eToro?
As I mentioned at the beginning, I was on other sites before being on eToro, including binary options, with which some of you are probably familiar, but I did not do well, and I lost all of my investment.
- Do you have any specific profit goals for this year? How do you plan to achieve them?
My goal for this year was to reach 30% profit. However, at this point, I think I can reach much higher than that. The plan is to continue investing as I have been doing, with a cool head, not letting feelings affect my investments since that causes us to make mistakes, which is not ideal when money is at stake .
- How has eToro changed the way you trade?
From my point of view, eToro has facilitated the way of trading for many people who were interested in obtaining a passive income through investments, but did not have the knowledge for it. With the options of copying people or portfolios, eToro makes that possible for anyone.
- What are the benefits of being a Popular Investor?
At first, I did not understand what being a Popular Investor meant. People started to copy me, but I didn’t understand the benefits. After reading about the program in eToro’s help section, I saw the requirements and the benefits of becoming a Popular Investor, and I found it very interesting. Not only do you get paid to trade, but you get to help others profit as well! That seemed fantastic to me, since the money wasn’t coming from the people copying me, but from eToro. In addition, I like the fact that there are tiers in the Popular Investor Program, so you can set yourself a small goal to progress through each tier.
- Why do you think eToro clients should copy you?
I think the most important thing when choosing who to copy is to see the history of closed transactions. That gives us an idea of how the trader performs, since the main statistics page shows closed and open transactions, and we are interested in knowing with what profit/loss they have closed positions in the past. That being said, so far this year, every month the average gain from each position I closed was 3%. But I would not encourage anyone to focus on just one copier, since we can all have a bad month. Therefore, it is best to diversify into several of the best traders.
75% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.