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Simon Mugo

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  1. Hi Elvis, The biggest benefit associated with social trading is that it allows you to benefit from the expertise of other traders in the markets and book profits without having to be an expert trader yourself, which could take years of learning. Your biggest responsibility when it comes to social trading is to find a trader whose risk profile mirrors yours, you should generally avoid traders with extraordinary results and major drawdowns, simply because there's a high chance their losses could wipe out your account. What you should be looking for is a trader with great returns and minimum drawdowns, such traders usually also have a steadily rising equity curve, which increases the likelihood that copying their trades will grow your trading business. Be thorough when choosing the expert to copy as this will determine the success of your trading business. apart from chart, check your account regularly to see how its doing and whether you need to make some changes.
  2. Hi Elvis, The first consideration when choosing a social trading broker is their regulation status, are they regulated by a reputable authority such as the UK's FCA, Australia's ASIC, or the CySEC. As a rule, you should never trade with an unregulated broker. Secondly, you should consider the platforms offered by the social trading broker as some brokers do not offer popular platforms such as the MetaTrader 4 & 5 platforms, but have their own custom platforms, which are quite good. Some social trading platforms allow you to choose your preferred broker as is the case with Myfxbook and several others, which allow you to choose a broker from their list of supported brokers. We have reviewed some of the bets social trading brokers and eToro stands out within the industry given its market leadership position. eToro has the most advanced social trading platform with numerous options to fit almost every type of trader. The broker's community is one of the most advanced given that they even pay dividends on some types of trades, which very few brokers do.
  3. Hi Donna, you make a very valid point. The problems with Facebook stem from the company's founder who seems to have no idea about respecting people's personal data and privacy. However, Facebook is not the only major company with this problem, Google has similar practices when its comes to tracking it users. Unfortunately, these companies are such an integral part of our everyday lives that its almost impossible to completely avoid them. One of the best options with Facebook is to just delete one's account (however, this is not practical for most people). Trying to avoid Google is a whole other nightmare. You can try on an individual level, while we wait for regulators to do address the issue effectively. Facebook paid a $5 billion fine, which is not huge for the company and it seemed to pacify the regulators.
  4. I noticed a bit of a rebound in AMC stock, I'm wondering if I should buy it?
  5. Hi, I would love to trade gold but its price is quite high, can I trade silver instead of gold?
  6. Hi, is there a way I can profit from the many stock market limit downs witnessed recently?
  7. Will the stock market rally after yesterday's $2 trillion stimulus package deal last?
  8. I thought cryptos were uncorrelated assets, why are they selling off at the same time as stocks?
  9. Is this a good time to buy Amazon stock, given the recent dip in its stock price?
  10. Simon Mugo

    Crypto Visa Card

    I am a fan of cryptos and event own a small portfolio, should I get a Visa card to spend my cryptos?
  11. Should I sell my stock portfolio and buy gold given the current market environment?
  12. How did Shopify perform in Q4 2019, and should I buy its stock?
  13. How is the coronavirus affecting Apple's iPhone supply chain and sales?
  14. Simon Mugo

    Oil Rally

    Why did oil prices rally to new highs today?
  15. I want to invest in altcoins given that Bitcoin is very expensive, how can I avoid the many scam projects?
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