We get htis a lot on our site the answer to Does Day Trading Apply To Cryptocurrency….Questions that i speak with new investors what if you’re brand new to investing you just don’t wish to choose what you in fact want to invest and you want somebody to do it for you there’s only a couple of ways that that can occur the first off you can hire an investment portfolio supervisor they’ll normally charge a rather a high premium to do that perhaps one or two percent of your profits will go to them the other thing is naturally you can purchase mutual funds particular funds are created once again with an account supervisor in the background as i’m going to cover in this video they have a service though that’s called copy trading copy portfolios as well now if you’re brand new to an overall please bear in mind this platform is quite advanced you can do cfds which naturally cfds are methods of investing
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with not actually having the full amount of capital so with anything that you’re learning about please do study the platform do not simply assume due to the fact that i use it that you can utilize it right now do some due diligence have a little play around with it even invest with virtual money they give that choice as well so you in fact get used to the structure of the website and then when you’re ready to use your own money to invest you can do so now i will disclaim of course your capital is at risk this is investing we’re doing you’re buying genuine companies if you pick to in this specific video we’re talking about how to copy other people’s investments with your cash so obviously your capital is at risk and we have to bear that in mind do not just do something since that person has stated they’ve made revenue 14 months in a row purchase these options due to the fact that you believe is the right ones for you which being said let’s dive directly in [Music] The things we’re going to cover in this video is understanding what is copy trading what are copy portfolios it’s part of social trading which is one element that is most likely.
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popular for it’s the option to see what other traders are doing incredible we don’t normally get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading therefore that indicates with our cash we can in fact say i wish to do precisely what that trader is doing or match that specific portfolio of options and basically each time they make a trade they buy they sell whatever they do your cash will be simulated with it so that implies if for example 10 of their investment portfolio is in tesla guess what you’ll now be investing 10 of your cash in so we’re going to also cover is the fees included really critical you comprehend what are the expenses of this now with any platform there will be some expense to certainly these are genuine companies that are investing they’re doing the purchasing the selling for you there’s going to be charges involved and even some of the no charge sites then might not charge you for in fact buying and selling funds or etfs specific 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 charges with in particular in this video the next would be things to know before you in fact start purchasing copy trading or copy portfolios and finally some finest advice best practices if you are considering this as a tool whether you begin your journey or your more advanced financier so let’s kick off with fees really important to comprehend these now on there’s a number of fees there isn’t costs to do with actually buying and selling fine so commission costs are free nevertheless there are a number of other fees the first one is withdrawal charges so you can clearly put money in now if you’re in the uk we put our uk cash.
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and it’s immediately converted into us dollars and i’ll cover a little point about that later however when you want to withdraw your cash so you offer your shares you offer your products whatever you’re selling the minimum amount you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me of course knowing that i’m going to make certain that i’m only withdrawing when i definitely need to now you might say all right that’s quite expensive and i get that however it’s all to do with how they run their platform they have to charge costs someplace and withdrawal charges are just among those choices that they have a lot of platforms obviously are complimentary to do such things has this 5 dollar charge so in my eyes make your withdrawals largely it can be maybe even once a year when every 6 months you know depends completely how you’re investing however that is a charge to remember the second cost that i have actually discussed is that conversion charge now with you’re dealing in us dollars only there’s not an option to buy in euros or uk and that’s great that suits me.
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a lot of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing or perhaps some crypto so i’m excellent with that we have what’s called the fx currency conversion cost now when you use anybody so if you’re using trading 2 and two free trade anybody this is standard they have actually i suppose stuck with whatever fee they charge for that conversion rate you type of need to accept you know if you want to utilize their platform go from uk to us then that conversion cost exists what are they actually providing you in terms of your uk pounds to us dollars and all platforms are the same you can’t haggle with them you can’t go to the bank and state provide me us dollars instead you have to pay their costs now the terrific aspect of however when you have actually transformed your money you do not have to invest it right now that dollar value can sit in your portfolio as money dollars for as long as you like so that means the preliminary day that you buy or convert your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any extra fees so that’s really excellent utilizing that part of their site won’t certainly limit you in any way nevertheless we have to understand two other charges the very first being what’s called spread costs all right and i’m going to reveal you what i suggest on now a spread charge as i’m going to show you
on is essentially the distinction that belongs to the financial investment platform in between the buy cost and the price alright it’s their premium on doing both those two actions now tesla if you can see on this part of the site today tesla’s dollar worth 599 per share in tesla that actually implies that when you wish to offer or purchase as you can see it’s not the price you’re seeing up here let me reveal you that again so the current rate of tesla is the worth of a share what’s called spread costs is the distinction then in fact to buy that share on the platform and you’ll find this all over this is another way that they make a percentage of make money from you whenever you do a purchaser’s share so keep that in mind clearly it’s more pricey to purchase than it is to sell so they’re going to give you less back with your sale and you state fine well why does that happen it simply does that is the nature of a great deal of platforms out there there’s a difference in between if you’re buying it then you wish to sell it which is how they make a bit of cash on those spread fees it’s usually exceptionally little 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 little bit cash now the last feat is called an
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over night fee now this is actually important if you’re really using cfds yourself too an over night charge is when you’re refraining from doing that buy offer transaction in the same day fine there’s then an overnight fee charged or even if you go from the friday to the monday before sailing a weekend charge now this just applies to cfds so if you’re in fact buying out the etf the stock the commodity and using time one take advantage of which implies you’re in fact buying the specific possession rather than using take advantage of anyhow you will not get hit with these charges but these costs are if you’re using take advantage of and cfds and then 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 assistance section this isn’t the overnight charges information you can see exactly the breakdown and it’ll tell 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 applies as i said to cfds there are some service charges of course depending on what you are buying as well this is on your own so keep that in mind however complete costs are totally within their help information alright and we spoke about along with free to deposit in but there’s a five dollar charge if you want to withdraw from anything whether it’s been cfds typical commodity stock shares whatever there’s that 5 dollar withdrawal cost now another thing to call it as i have actually stated copy trading and copy portfolios are 2 different methods of really using these copy operates they don’t have any additional charges on top of the normal costs that
exist now what you require to keep in mind though is these potentially managed by other individuals totally or sometimes have created portfolios you’ve got a genuine individual doing the management you have to ensure you pick the person that’s right for you similar to any line of work this is your monetary possessions so we definitely need to make sure it’s the right person for us before we copy them so the first things i would call it if you do wish to use this function we’ve got a couple of different alternatives for us first off if you’re brand new to investing i wish to draw your attention to this within you have the option to invest real money or a virtual platform virtual methods i think you get yep a hundred thousand dollars to have fun with and it’s not real cash that you’re investing you will not need to put in your charge card details or anything you can basically have this virtual portfolio imitate as if you are using your own money however really buy pretend buy copy individuals whatever you like if you’re not
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feeling comfy with utilizing your genuine cash perhaps this is a terrific alternative for you once again to test the theories okay you may wish to buy tesla or apple or this etf why not utilize the virtual alternative as a way to kind of safe have fun with it clearly you may have lost out on gains and losses during that time of course if you had invested your genuine cash it enables you to construct confidence comprehend the platform so that’s one choice for you then next week and i’m going to return to my real portfolio here now we’re going to deep dive in fact how to copy individuals and copy portfolios now here’s something to keep in mind prior to you choose somebody that you’re going to copy or a portfolio you’re going to copy ensure you understand what your danger profile is now what do i suggest 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 risk simply means am i all right with possibly losing a great quantity 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 cash that’s why they make the fact 75 people will lose cash however that equally implies they’ll lose eventually in their journey undoubtedly individuals do make money also and i’ve got videos everything about how you can ensure you are among individuals to actually generate income but in this situation make certain you research your risk level would you be alright providing your money to another person which is successfully what you’re doing and trusting them ensure you comprehend what they’re buying completely if you’re someone who isn’t wishing to be that dangerous don’t choose somebody who’s entirely into crypto or currency conversion think of it you ‘d probably want a foundation of strong products
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like gold or even oil plus more conventional 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 actually utilize this too truly easily over here you can copy individuals now it will give you a lot of choices and you can use the system to in fact look for someone that you fancy in fact following so let’s see perhaps we desire somebody from unified kingdom um who buys let’s see who does etfs they have actually acquired a minimum of 10 yeah that sounds reasonable that sounds a great quantity and i can find everybody who has actually satisfied that requirements and it does offer you a danger element 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 number of individuals that have rather high returns
keep in mind it resembles anything to do with the news or predictions of the future this does not suggest somebody will make 56 for you for the next 12 months they could make 4 or minus 50 there’s no other way to guarantee so do keep that in mind and as basic as clicking the copy button and off you go and then you understand ask you to verify are you alright with this and off you go now another way to actually deep dive if we click this person for instance ruby mza as an example you can actually deep dive into what is she really buying so let’s enter into portfolio and you can see she’s rather heavy into microsoft mastercard amazon she likes her tech a little bit so that’s excellent to understand ibm paypal yep she’s certainly like kind of into those blue box and the tech industry she’s got some of mine really that i buy too which is good so really for me understanding what i like to invest in my private stocks and shares she would resonate with me she’s got a great spread in tech companies that appears to be what she prefers she’s also got a bit more um of the kind of primary food companies and you have actually got you know pharmaceutical and production business as that. Does Day Trading Apply To Cryptocurrency.
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