The Cash Diaries

My experiments in passive income, trading and life

A guide to forex market hours – What time is best to make money

Knowing what time the forex market operates is an essential part of being a pro trader.  But it’s also not enough to just know when you can trade, you also need a solid understanding of the best times to trade.  This will help you avoid any pitfalls by opening trades during quiet times or just when there is going to be a burst of movement.

So let’s begin by finding out when the markets actually trade…

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How to track your net worth and why you should be doing it

For the past three years I’ve diligently kept a log of my net worth that gets updated every week.  I can remember one week before I had started this habit, logging in to check my transaction account, and finding it overdrawn.  I had let my expenses get out of hand and was effectively burying my head in the sand.

I decided things needed to change and begun a written log of my net worth.  A weekly snapshot of my finances.

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eToro launches partner copyfunds

Last year etoro launched a new investment product called copyfunds.  There were funds that were made up of popular stocks and groups of profitable traders.

Well now etoro is expanding and have launched something called Partner CopyFunds.  These funds are created by third parties.    These partners conduct thorough market analysis and build their funds to reflect their strategy.

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5 Finance Books every millennial should read

What’s the best way to get a financial education?  You’re certainly not going to get it at school.  I don’t think we were taught anything at all about personal finance during school.  I think the best way to give yourself an education in personal finance is to read.

There are so many books on personal finance and investing, and many of them have contradicting view points.  But that’s the great thing about reading – you can expose yourself to different ideas and then form your own opinions.

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5 Ways to Invest $1000 in 2017

It’s amazing how quickly the world of finance is changing.  If I had written this post 5 years ago, it would have been completely different.  Furthermore, it probably wouldn’t have been about investing $1000.  Why?  Because investing just $1000 5 years ago would have been more expensive and your returns probably wouldn’t have been worth the effort.  But now, thanks to new technologies, it’s easy to invest $1k.

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Making money with Copyfunds: February Update

Last year, eToro launched CopyFunds.  A way to invest in the top guru traders on the social trading platform eToro.

I thought this was a great idea, and would further progress all the amazing benefits of social trading.  So to really test it out, I started an experiment to see what a $5000 investment would return if invested in a copyfund.

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I saved over $1000 doing nothing using Acorns

This past year I saved over $1000 doing nothing out of the ordinary.  I spent as usual and didn’t setup and recurring savings plans.

All of this was done using the Acorns app.    Every time I made a purchase using my bank account (debit card), my purchases were rounded up to the nearest dollar and this roundup amount was automatically transferred to an investment account.

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Why you should be trading Stock CFDs

Contract for Difference or CFD allows you to speculate on the movement of an underlying asset.  What does that mean?  You can trade stocks without having to own the actual stock.  I wanted to explain some of the advantages and disadvantages of CFD trading and why I think it’s a great way to make money online.

Advantages:

Low  Fees

This all depends on the broker you use, but many won’t charge any commissions.  For example, on etoro if you open a buy position on a stock, with no leverage, the CFD is fee to hold.  Short and leveraged positions will incur a fee.

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Beginners guide to making money with forex in 2017

Is it possible to make money from forex?  It sure is.  I’ve put together this guide with what I believe to be the best strategies for making money using forex.

I’ve been using forex to make money for the past 8 years.  Mainly through copytrading, but also by opening trades on my own.

The concept of forex trading is simply to exchange one currency for another.  You do so expecting the price to change and in doing so, you’ll make a profit.  However actually making money doing this can be a little bit trickier.  The best place to start is understanding on the forex lingo that you’ll come across: Continue reading

4 things you should be doing on etoro in 2017

eToro copytrading tips2017 is here and there is excitement in the markets.  With so much going on in politics there is going to be a lot of movement in the markets.  And using etoro is a great way to profit from that movement.  Because no matter if the markets go up or down there is still an opportunity to profit.  This year will also be volatile – so if you’re not a strong trader, you should be leaving it to the experts and copytrading instead.

If you are using etoro in 2017 then here are four things you should be doing this year to make the most out of your trading. Continue reading

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