Curious to learn about your participation on any of the social trading platforms. If you are involved, how is it working out for you?
Are you making money? Or have you instead had a negative experience?
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I thought I’d used most and know about nearly all US stock brokers and I’d never heard of any of these.
Ah, these are places where you follow some other investors trades, often in Forex or futures. Never used any of them, wouldn’t not have high hopes either but of course some gurus will be lucky and have high returns for a while.
Along these lines, I used to watch a few people on Covestor, before they got acquired by IBKR. You do have to know a fair bit about investing to tell which ones are possibly good, and you need to be able to see some of the details of the trading, strategies, etc. never paid to follow anyone, but a few of the better ones flamed out and a few others became RIAs.
The question to ask yourself is: if you were consistently good at trading a liquid market like futures or forex, why wouldn’t you be running a CTA or hedge fund instead of growing some hokey social retail following for a lot lower comp? Probably because you’re either new and unproven or no good. Sure, you might find a few good people early, but there are a whole bunch of bad investors out there.
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How do you find all of these companies (not just these, but I know you found other companies like Magic Wrighter, tiny credit unions with good offers, etc.)?
Uh, not through any great creativity on my part, that is for certain. This stuff, and a great deal more, is out there on the net and can be located through assiduous digging, drilling, and probing. Sometimes a discovery ends up profitable, most of the time you hit dead ends.
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