An interview with Popular Investor Wesley Warren Nolte (Wesl3y)
“I’m able to absorb information and make decisions based on many sources of information very quickly,” says Wesley Warren Nolte about his trading abilities. “The [eToro] platform is open, so you have a place where people can share information.” This kind of collaboration, unique to our social trading community, is one of the many reasons why Wesley prefers eToro.
After being an investor for over 15 years, what made you choose eToro as your platform for trading?
At first, I was curious about how a social network built around trading might work. Then I was hooked by the amazing UI, the amount of information I could get from others on eToro, and the CopyTrader mechanism.
What are the advantages of social trading?
The eToro community is great, and I engage with my copiers quite a lot. When I post a piece of information about something I’ve found useful, there is almost always an interesting conversation that follows. Quite often, I’ll learn a bit more about that topic. Learning is a never-ending process, and I feel that being part of an intelligent community accelerates that process.
What were some mistakes that you made as a new trader on eToro?
I got burnt badly by not doing my research on those that I copied, I used leverage too heavily, and I was impatient.
What advice would you give to new eToro users?
Be patient; the markets go down as well as up, so expect to be in the red sometimes. Find great traders, and try to learn from them by copying their trades.
What is your take on cryptocurrencies?
They will change the world in so many ways. These are global currencies no longer “owned” by any country, which could have huge implications for politics and the way our world works. Eventually, some crypto-based marketplaces will allow people to trade anything for anything else, with almost no cost to either party. Imagine selling your old iPhone for 2.5 months’ worth of electricity, or your old furniture for a partial investment in a new building development… It’s mind-bending, but very cool.
How do you think the long-term future for cryptos will pan out?
I believe we’re approaching something like the dotcom crash, and from that will emerge a few winners who will dominate the market. A crash needs to happen for the market to stay healthy. After that, we’ll see the steady rise of cryptos as part of every day society.
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The views expressed in this post represent the interviewee’s personal views and not those of eToro. Past performance is not an indication of future results. Cryptocurrencies can fluctuate widely in prices and are, therefore, not appropriate for all investors. Trading cryptocurrencies is not supervised by any EU regulatory framework. CFD trading. Your capital is at risk.