With a starting bankroll of only $250 we are going to dive straight into the deep end on the eToro trading platform and see what we can come up with.
We know this won't be a smooth ride but we expect to learn a lot as well as taking some pain along the way. Hopefully it will be a fun experience for all who follow.
Week One Trades
Bitcoin - $50 @ $55094.29 : What better for the first trade than to dip our ties into the crypto market. Making a final decision turned out to be a lot more tricky than first expected after a six month period of volatile price movements.
The question was will the price continue to fall after peaking at close to $65,000. Initially we thought it would but a rally over the last couple of weeks gave us confidence that we could once again see a run to at least close to record a price.
The chart above shows resistance at around $50,000, leaving us thinking of pulling out of the trade if we see a move below $45,000.
Another piece of news that had us wondering if a steep drop in value was Coinbase floating on the Nasdaq exchange. There was news that the expectation of the first day’s trading had built confidence and enthusiasm for cryptocurrency but with a high probability that there would be a counter reaction soon after.
Marstons PLC - $50 @ 98.5p : Trade two is Martsons: a British brewery, pub and hotel operator. After suffering a vicious drop in share price just over a year ago when the pandemic took hold a steady comeback has been underway ever since.
With the pubs now open in the UK, and indoor service about to begin on May 17 we think this is a great buy with little downside on the cards. If the pandemic does return to the UK, closing the retail and hospitality sector again, then we should have plenty of warning.
Juventus FC - $50 @ €0.7347 : Buying shares in one of the founding members of the European Super League looks to be a safe trade. When news hit the headlines last week of the breakaway competition share prices in the clubs involved jumped massively. And when the idea was put on idea the price just returned to what it was before.
With the President of Real Madrid claiming the idea is still likely to happen we think it’s worth hanging around on this trade to see if there is any more movement along those lines.
Apple - $50 @ $134.29 : This week we heard the news that Apple might have found a solution to the global chip shortage. It recently showcased a suite of new products that use the M1 chip, reducing its exposure to the supply chain issues during the pandemic.
This will not be a trade where we hang around if the price starts to drop, setting a trailing stop loss of $45 of the $50 invested.
Don't forget to check back next week to see if we invest in anything new, or if we had to pull out quickly from any of our trades posted today.
