We get htis a lot on our site the answer to Creating A Python Crypto Trading Bot….Questions that i hear from brand-new financiers what if you’re brand new to investing you simply do not wish to choose what you in fact want to invest and you desire somebody to do it for you there’s just a couple of manner ins which that can take place the firstly you can work with an investment portfolio manager they’ll generally charge a rather a high premium to do that maybe one or two percent of your earnings will go to them the other thing is of course 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 too now if you’re brand new to a total please bear in mind this platform is quite sophisticated you can do cfds which of course cfds are methods of investing
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with not actually having the total of capital so with anything that you’re discovering please do study the platform do not just presume because i utilize it that you can use it immediately do some due diligence have a little experiment with it even invest with virtual cash they give that option also so you actually get utilized to the structure of the site and then when you’re ready to use your own money to invest you can do so now i will disclaim naturally your capital is at danger this is investing we’re doing you’re investing in real companies if you select to in this particular video we’re discussing how to copy other individuals’s investments with your money so certainly your capital is at danger and we need to bear that in mind do not just do something because that person has said they have actually made profit 14 months in a row invest in these options since you think is the right ones for you and that being stated let’s dive straight in [Music] The things we’re going to cover in this video is comprehending what is copy trading what are copy portfolios it’s part of social trading which is one aspect that is probably.
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well-known for it’s the option to see what other traders are doing unbelievable we do not usually get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading therefore that implies with our money we can in fact say i wish to do precisely what that trader is doing or match that exact portfolio of choices and generally each time they make a trade they purchase they sell whatever they do your money will be simulated with it so that implies if for example 10 of their 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 fees involved truly crucial you understand what are the costs of this now with any platform there will be some cost to certainly these are genuine business that are investing they’re doing the purchasing the selling for you there’s going to be charges involved and even some of the absolutely no fee websites then might not charge you for actually buying and selling funds or etfs individual commodities private stocks.
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there’ll be costs on other parts possibly it’s our fx rate when you’re changing from uk to u.s dollars there’s all kinds of fees associated so do your due diligence and i’m going to reveal you the charges with in particular in this video the next would be things to understand before you actually begin buying copy trading or copy portfolios and lastly some best suggestions finest practices if you are thinking about this as a tool whether you start your journey or your more advanced financier so let’s begin with costs truly essential to comprehend these now on there’s a couple of costs there isn’t costs to do with really buying and selling all right so commission costs are free however there are a number of other charges the first one is withdrawal fees so you can clearly put cash in now if you remain 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 cash so you sell your shares you sell your commodities whatever you’re offering the minimum amount you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me naturally understanding that i’m going to make sure that i’m just withdrawing when i absolutely need to now you might state alright that’s rather costly and i get that but it’s all to do with how they run their platform they have to charge fees someplace and withdrawal charges are simply one of those options that they have a great deal of platforms obviously are free 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 but that is a charge to remember the 2nd cost that i’ve touched upon is that conversion charge now with you’re dealing in us dollars only there’s not an option to buy in euros or uk which’s fine that matches me.
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a great deal 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 fee now when you utilize anyone so if you’re using trading 2 and two free trade anybody this is standard they have i suppose stuck to whatever fee they charge for that conversion rate you sort of have to accept you know if you want to use their platform go from uk to us then that conversion charge is there what are they really offering 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 provide me us dollars instead you need to pay their costs now the great aspect of however when you’ve transformed your money you do not need to invest it right away that dollar value can sit in your portfolio as cash dollars for as long as you like so that indicates the preliminary 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 great utilizing that part of their website won’t certainly restrict you in any way however we need to know two other costs the first being what’s called spread fees okay and i’m going to show you what i indicate on now a spread fee as i’m going to reveal you
on is essentially the difference that becomes part of the financial investment platform in between the buy rate and the sale price alright it’s their premium on doing both those 2 actions now tesla if you can see on this part of the website right now tesla’s dollar value 599 per share in tesla that really indicates that when you want to sell or buy as you can see it’s not the cost you’re seeing up here let me reveal you that once again so the existing rate of tesla is the value of a share what’s called spread charges is the difference then really to buy that share on the platform and you’ll discover this everywhere this is another way that they make a percentage of profit from you whenever you do a purchaser’s share so keep that in mind obviously it’s more expensive to purchase than it is to offer so they’re going to give you less back with your sale and you say all right well why does that occur it just does that is the nature of a lot of platforms out there there’s a difference in between if you’re buying it then you want to sell it which is how they make a bit of money on those spread out charges it’s generally incredibly small it could be a matter of pens matter of cents in there however that’s one location every investment firm will once again make a bit money now the last feat is called an
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over night fee now this is actually important if you’re in fact utilizing cfds yourself too an overnight fee is when you’re not doing that buy offer deal in the exact same day fine there’s then an over night fee charged or perhaps if you go from the friday to the monday before sailing a weekend charge now this only applies to cfds so if you’re really buying out the etf the stock the product and utilizing time one take advantage of which implies you’re actually buying the exact asset instead of utilizing leverage anyway you won’t get hit with these charges but these charges are if you’re utilizing utilize and cfds and after that you’re going to have these charges if you’re not buy offering in the very same day so let’s say if you go into the help section this isn’t the overnight charges info you can see precisely the breakdown and it’ll tell you what are the charges what are the fees then for when you’re doing overnight or you’re doing over weekends and that just uses as i stated to cfds there are some surcharges of course depending on what you are investing in also this is on your own so keep that in mind however full costs are entirely within their help info fine and we spoke about as well as complimentary to deposit in however there’s a 5 dollar charge if you want to withdraw from anything whether it’s been cfds regular product stock shares everything there’s that five dollar withdrawal fee now another thing to call it as i have actually stated copy trading and copy portfolios are 2 various ways of in fact utilizing these copy operates they don’t have any extra fees on top of the normal charges that
are there now what you require to bear in mind though is these potentially managed by other people totally or often have produced portfolios you have actually got a genuine individual doing the management you need to ensure you select the person that’s right for you similar to any profession this is your monetary assets so we absolutely need to ensure it’s the best 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’ve got a couple of various choices for us first off if you’re brand new to investing i want to draw your attention to this within you have the choice to invest genuine cash or a virtual platform virtual ways i believe you get yep a hundred thousand dollars to have fun with and it’s not real cash that you’re investing you will not require to put in your credit card information or anything you can basically have this virtual portfolio imitate as if you are utilizing your own cash however in fact buy pretend buy copy people whatever you like if you’re not
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feeling comfortable with utilizing your genuine money maybe this is a great option for you once again to test the theories okay you may wish to purchase tesla or apple or this etf why not utilize the virtual alternative as a method to kind of safe have fun with it certainly you may have missed out on gains and losses throughout that time of course if you had invested your genuine money it allows you to develop self-confidence comprehend the platform so that’s one alternative for you then next week and i’m going to go back to my genuine portfolio here now we’re going to deep dive really how to copy individuals and copy portfolios now here’s something to remember prior to you choose someone 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 indicate by that certainly for me i’m investing long term and they tend to state the longer you’re leaving your financial investments the riskier you can be run the risk of simply means am i fine with possibly losing an excellent quantity of this investment or getting as
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well now keep in mind whatever is ups and downs you will make money you’ll lose cash that’s why they make the figure 75 individuals will lose money but that equally implies they’ll lose at some time in their journey undoubtedly people do generate income also and i’ve got videos everything about how you can make certain you are among the people to really generate income but in this scenario ensure you research your threat level would you be alright giving your cash to somebody else which is efficiently what you’re doing and trusting them make sure you comprehend what they’re purchasing totally if you’re somebody who isn’t wanting to be that risky don’t pick someone who’s entirely into crypto or currency conversion consider it you ‘d most likely want a foundation of strong commodities
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like gold and even oil plus more standard 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 say you can actually utilize this too actually easily over here you can copy people now it will offer you a great deal of choices and you can utilize the system to actually look for somebody that you fancy in fact following so let’s see possibly we desire somebody from unified kingdom um who buys let’s see who does etfs they have actually acquired at least 10 yeah that sounds reasonable that sounds a good amount and i can find everybody who has actually met that requirements and it does give you a danger factor as well so it tends to be the higher the number the more riskier they are with their stock investing now certainly there are a variety of individuals 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 indicate someone will make 56 for you for the next 12 months they might make four or minus 50 there’s no way to ensure so do keep that in mind and as easy as clicking the copy button and off you go and after that you know ask you to validate are you fine with this and off you go now another method to actually deep dive if we click this person for instance ruby mza as an example you can really deep dive into what is she in fact buying so let’s enter into portfolio and you can see she’s quite heavy into microsoft mastercard amazon she likes her tech a little bit so that’s excellent to know ibm paypal yep she’s certainly 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 excellent so in fact for me understanding what i like to invest in my individual stocks and shares she would resonate with me she’s got a good spread in tech business that appears to be what she prefers she’s likewise got a little bit more um of the sort of main food companies and you have actually got you know pharmaceutical and production business as that. Creating A Python Crypto Trading Bot.
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