Can I Trade the MultiStage Trading System

When I describe my trading strategy to someone, and especially if I share past results with them, one of the first questions I get is something like: "How can I get a piece of the action?" While I am very careful to tell interested parties that there is no guarantee the future will look like the past, there is a way to participate in the MultiStage Trading System. The answer is called Covestor.com.

I have mentioned several times that all of my trading activity is being tracked by a service called Covestor.com. It's very cool and allows others to follow along with what I'm doing. Most important for all SnapTraders, is that it doesn't require any additional work on the trader's part, or on the followers part.

Covestor.com has the ability to link directly to my brokerage account. Whenever I make a trade it is reflected in their system. Likewise, all of my performance history is based on my real trading account, and I don't have to do anything other than just... well... trade. It just looks at my account and reports my trades. I suppose this also prevents anyone from "doctoring" the numbers, since they are based on actual trades and I can't "mis-report" them.

Up at the top of the right hand column of this blog (quick, look now!) is a live performance graph. It compares my portfolio performance with the overall market (in this case the SP500). If you click on it, you can see more details about my portfolio. It shows actual trades, current holdings, and other performance statistics.

And now for the really cool part, and how you can participate: Anyone interested can open an account with Covestor.com and "mirror" my account. In other words, whatever I do happens in your account as well. People are able to link their accounts to the Covestor model managers in this way and have matched performance without doing anything. I've seen services before where you could get a list of trades and then enter them yourself, but this takes it a step further. It's really an amazing service.

How much money do you need to open a Covestor account and mirror the MultiStage Trading System? Covestor has several different levels for models and each has it's own minimums. The minimum for mirroring this particular system is $5,000. It's pretty reasonable. There is not advantage or disadvantage to account size, since all commissions are on a per share basis. And position sizing is calculated based on account size, so any amount form $5k and up will work just fine.

Good Trading...