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  • Jay Smith

eToro Weekly Update - Week 17 2018


Stats given cover closed trades for the 23rd April - 29th April.

My total realized profit from the past week is -1.30%. Overall the portfolio is up 9.73%

Profitable trades closed: 15

Unprofitable trades closed: 11

Most traded instrument: $EOS (5 trades)

A very strong week for crypto, with prices up across the board. I focused mainly on closing my poorer-performance trades to take advantage of $EOS arriving on eToro and the return of some bullish sentiment in crypto as a whole.

Cryptos

$EOS - Unsurprisingly this is my most traded this week (although not all were great). Despite my excitement surrounding the potential of this project now is actually an extremely difficult period for trading it. Just 1 month away from the main-net launch and pushing to new ATH’s over the weekend, I’ll be buying more as it drops back down to around $17.

$XLM - Stellar despite substantial spreads has given reasonable opportunities for trading, I’m happy with our exposure here.

$BTC - More big red trades closed in exchange for some EOS positions. Many were criticising my heavily for this last week, if you go through some of my trading so far I have already make back the losses from the positions closed (although I’ve not closed most of the trades in EOS yet). This is what caused our -1.3% realized profit this week. I stand by my decision and our portfolio movement up by 9.73% this week is a testament to this strategy and my decisive actions.

$LTC - As I feared Litecoin has been losing ground on coinmarketcap to cryptos such as $EOS , $XLM , ADA, IOTA and TRX. I remain sceptical over the future of Litecoin, but will continue with a small exposure. I believe Litecoin could drop from the top 10 cryptos by the end of the year.

$BCH - I tried catching a short on BCH this week but yet again was let down by my own impatience. The trade was opened a little to early and closed just prior to the drop starting. Frustrating to miss this trade and close for a loss, but like my trades in XRP earlier this year it is an example that I am doing reasonably well spotting incoming drops, but my execution requires more discipline.

Stocks

Clearly there is a lot to talk about here this week given earnings, unfortunately my characters are limited on eToro so there may be a few things not covered well in this post, I’m writing up a seperate post to summarize the week’s earnings reports which should contain further detail.

$AMZN - Strong earnings saw prices return to the 1600 level. I had two positions open and was content to take half a percent profit and remove exposure to amazon until I analyse it further.

$AMD - Again, good earnings here lead by Ryzen demand. I still have some concerns about the ramping up of Epyc sales, as the trial periods end the orders should come this quarter. I remain unconvinced by the demand here and have reduced exposure accordingly.

$FB - Unfortunately my gamble on FB suffering from poor earnings did not come to fruition. Perhaps there was not enough time for the effects of the recent scandal to kick in. As a result my shorts were both closed at a reasonably large loss.

$SNAP - My remaining trades have been closed profitably, I will resume trading after their earnings are reported tomorrow evening.

$GOOG - On the surface their earnings were strong, but the huge losses from Nest among other areas are a cause for concern for many investors, as a result we lost some money betting on their earnings.

$FSLR - First Solar opened their earnings call by announcing a new factory to be built in the US. Following this was a very strong report with increasing demand. A few delays in some of the larger projects but strong overall, I’m keeping my positions open here.

$SPOT - Some nice trades, I’ll ramp up exposure ahead of earnings this week. $TWTR - Another strong earnings report and a good explanation by Jack about why Twitter is not vulnerable to scandals similar to what Facebook suffered. The key concern that stood out from earns was surrounding decreasing video ad revenue across the industry and the potential effects this could have on Twitter.

$MSFT - Microsoft also reported earnings with consistent growth continuing. Cloud still stands out as the biggest growth sector for Microsoft.

What’s the plan?

There has been too much action to easily squeeze into this update, I’ll make a post about this weeks earnings calls that were relevant to my trading later this week to dive in a little deeper. Apologies again for being so brief in this update.


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