We get htis a lot on our site the answer to Backtest Cryptocurrency Trading Strategies….Concerns that i speak with brand-new financiers what if you’re brand new to investing you just don’t wish to decide what you actually wish to invest and you want someone to do it for you there’s just a couple of manner ins which that can occur the firstly you can work with an investment portfolio supervisor they’ll generally charge a rather a high premium to do that possibly a couple of percent of your profits will go to them the other thing is naturally you can buy mutual funds specific funds are produced again with an account manager in the background as i’m going to cover in this video they have a service though that’s called copy trading copy portfolios also now if you’re brand new to a total please remember this platform is rather sophisticated you can do cfds which obviously cfds are methods of investing
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with not really having the total of capital so with anything that you’re finding out about please do study the platform don’t just presume because i use it that you can use it right away do some due diligence have a little experiment with it even invest with virtual cash they give that choice too so you actually get used to the structure of the site and after that when you’re ready to utilize your own cash to invest you can do so now i will disclaim obviously your capital is at risk this is investing we’re doing you’re investing in real business if you pick to in this specific video we’re discussing how to copy other individuals’s financial investments with your money so clearly your capital is at threat and we have to bear that in mind do not just do something because that person has actually stated they have actually made revenue 14 months in a row buy these options since you believe is the right ones for you which being said let’s dive straight in [Music] so the things we’re going to cover in this video is comprehending what is copy trading what are copy portfolios it becomes part of social trading which is one aspect that is most likely.
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well-known for it’s the option to see what other traders are doing incredible we do not normally get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading therefore that means with our cash we can actually state i want to do precisely what that trader is doing or match that exact portfolio of options and essentially each time they make a trade they purchase they offer whatever they do your money will be imitated with it so that suggests if for example 10 of their financial investment portfolio remains in tesla guess what you’ll now be investing 10 of your money in so we’re going to likewise cover is the costs involved really important you comprehend what are the expenses of this now with any platform there will be some expense to clearly these are real business that are investing they’re doing the buying the selling for you there’s going to be charges involved and even some of the absolutely no cost sites then might not charge you for really buying and selling funds or etfs individual commodities specific stocks.
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there’ll be fees on other parts perhaps it’s our fx rate when you’re changing from uk to u.s dollars there’s all kinds of costs associated so do your due diligence and i’m going to show you the fees with in particular in this video the next would be things to know before you actually start buying copy trading or copy portfolios and finally some finest advice best practices if you are considering this as a tool whether you start your journey or your advanced financier so let’s start with fees actually essential to understand these now on there’s a number of charges there isn’t costs to do with really buying and selling alright so commission costs are totally free however there are a number of other costs the first one is withdrawal fees so you can obviously put money in now if you’re in the uk we put our uk money.
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and it’s instantly converted into us dollars and i’ll cover a little point about that in the future however when you want to withdraw your money so you offer your shares you sell your commodities whatever you’re selling the minimum quantity you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me obviously understanding that i’m going to make certain that i’m only withdrawing when i definitely need to now you might say alright that’s quite pricey and i get that however it’s all to do with how they run their platform they need to charge fees someplace and withdrawal costs are simply among those options that they have a lot of platforms certainly are complimentary to do such things has this five dollar charge so in my eyes make your withdrawals largely it can be perhaps even once a year as soon as every six months you understand depends totally how you’re investing however that is a fee to bear in mind the 2nd charge that i have actually discussed is that conversion fee now with you’re handling us dollars just there’s not an alternative to purchase in euros or uk which’s great that suits me.
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a lot of my stocks are us dollar stocks anyway or the etfs that i’m buying or even some crypto so i’m good with that we have what’s called the fx currency conversion charge now when you utilize anybody so if you’re utilizing trading 2 and two open market anyone at all this is basic they have i suppose stuck with whatever fee they charge for that conversion rate you type of have to accept you know if you wish to utilize their platform go from uk to us then that conversion fee is there what are they actually giving you in terms of your uk pounds to us dollars and all platforms are the same you can’t bargain with them you can’t go to the bank and say give me us dollars instead you need to pay their costs now the excellent aspect of though when you’ve converted your cash you do not have to invest it right away that dollar worth can sit in your portfolio as cash dollars for as long as you like so that indicates the initial day that you purchase or convert your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any additional fees so that’s really excellent using that part of their website will not certainly limit you in any way nevertheless we have to know two other charges the very first being what’s called spread costs alright and i’m going to reveal you what i suggest on now a spread fee as i’m going to reveal you
on is basically the difference that belongs to the investment platform in between the buy price and the price okay it’s their premium on doing both those 2 actions now tesla if you can see on this part of the site right now tesla’s dollar value 599 per share in tesla that actually indicates that when you want to buy or sell as you can see it’s not the cost you’re seeing up here let me reveal you that again so the current price of tesla is the value of a share what’s called spread fees is the distinction then actually to buy that share on the platform and you’ll find this all over this is another way that they make a small amount of profit from you whenever you do a purchaser’s share so keep that in mind obviously it’s more pricey to purchase than it is to sell so they’re going to offer you less back with your sale and you say fine well why does that happen it just does that is the nature of a great deal of platforms out there there’s a difference between if you’re buying it then you wish to sell it and that is how they make a bit of money on those spread fees it’s normally extremely little it could be a matter of pens matter of cents in there however that’s one location every investment firm will again make a little bit cash now the last accomplishment is called an
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overnight charge now this is truly crucial if you’re in fact using cfds yourself also an overnight fee is when you’re not doing that buy offer deal in the exact same day okay there’s then an over night charge charged or even if you go from the friday to the monday prior to cruising a weekend charge now this only applies to cfds so if you’re really buying out the etf the stock the commodity and using time one take advantage of which indicates you’re actually purchasing the precise possession instead of utilizing leverage anyhow you will not get hit with these charges however these charges are if you’re utilizing utilize and cfds and then you’re going to have these costs if you’re not buy offering in the same day so let’s state if you go into the help section this isn’t the overnight charges info you can see precisely the breakdown and it’ll inform you what are the charges what are the fees then for when you’re doing over night or you’re doing over weekends and that only uses as i said to cfds there are some service charges obviously depending on what you are investing in also this is on your own so keep that in mind however complete fees are entirely within their assistance info all right and we discussed along with totally free to deposit in but there’s a five dollar charge if you wish to withdraw from anything whether it’s been cfds regular commodity stock shares everything there’s that five dollar withdrawal charge now another thing to call it as i’ve said copy trading and copy portfolios are 2 different methods of actually using these copy operates they do not have any extra fees on top of the regular costs that
exist now what you need to bear in mind though is these potentially managed by other people totally or in some cases have created portfolios you have actually got a real individual doing the management you need to ensure you choose the individual that’s right for you similar to any kind of work this is your financial properties so we definitely need to ensure it’s the ideal individual for us prior to we copy them so the first things i would call it if you do want to use this function we have actually got a number of various options for us firstly if you’re brand new to investing i want to draw your attention to this within you have the alternative to invest real cash or a virtual platform virtual means i believe you get yep a hundred thousand dollars to play with and it’s not real cash that you’re investing you won’t require to put in your charge card details or anything you can basically have this virtual portfolio mimic as if you are utilizing your own money but in fact purchase pretend buy copy individuals whatever you like if you’re not
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feeling comfortable with using your real money possibly this is a fantastic option for you again to evaluate the theories okay you may want to buy tesla or apple or this etf why not utilize the virtual option as a method to kind of safe play with it obviously you might have missed out on gains and losses during that time of course if you had invested your real money it allows you to build self-confidence comprehend the platform so that’s one option for you then next week and i’m going to go back to my real portfolio here now we’re going to deep dive really how to copy individuals and copy portfolios now here’s something to bear in mind before you choose somebody that you’re going to copy or a portfolio you’re going to copy make certain you comprehend what your threat profile is now what do i suggest by that certainly for me i’m investing long term and they tend to say the longer you’re leaving your financial investments the riskier you can be risk just suggests am i all right with potentially losing a great amount of this financial investment or acquiring as
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well now keep in mind whatever is downs and ups you will make money you’ll lose money that’s why they make the figure 75 individuals will lose money however that similarly means they’ll lose at some time in their journey undoubtedly people do generate income also and i’ve got videos all about how you can ensure you are among individuals to really earn money but in this situation make certain you research study your threat level would you be fine providing your money to another person which is successfully what you’re doing and trusting them make sure you comprehend what they’re investing in completely if you’re somebody who isn’t wishing to be that risky do not select someone who’s completely into crypto or currency conversion think about it you ‘d probably desire a backbone of strong commodities
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like gold or perhaps oil plus more traditional etfs and index funds you may not want some up-and-coming single stocks in your portfolio do the exact same with who you’re following now as i state you can in fact use this too actually easily over here you can copy people now it will give you a great deal of options and you can utilize the system to actually search for someone that you fancy actually following so let’s see perhaps we want someone from unified kingdom um who purchases let’s see who does etfs they have actually acquired at least 10 yeah that sounds reasonable that sounds a great quantity and i can discover everybody who has actually fulfilled that criteria and it does give you a threat aspect too so it tends to be the greater the number the more riskier they are with their stock investing now clearly there are a variety of people that have rather high returns
keep in mind it’s like anything to do with the news or predictions of the future this does not suggest someone will make 56 for you for the next 12 months they might make four or minus 50 there’s no chance to guarantee so do keep that in mind and as basic as clicking the copy button and off you go and then you know ask you to confirm are you fine with this and off you go now another way to actually deep dive if we click on this person for instance ruby mza as an example you can in fact deep dive into what is she actually purchasing so let’s go into portfolio and you can see she’s quite heavy into microsoft mastercard amazon she likes her tech a bit so that’s great to know ibm paypal yep she’s absolutely like type of into those blue box and the tech industry she’s got a few of mine really that i invest in too which is great so in fact for me knowing what i like to invest in my specific stocks and shares she would resonate with me she’s got a great spread in tech business that appears to be what she chooses she’s likewise got a bit more um of the sort of primary food business and you’ve got you know pharmaceutical and production companies as that. Backtest Cryptocurrency Trading Strategies.
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