We get htis a lot on our site the answer to Ken Baggett Trading Strategy Forex….Questions that i speak with new financiers 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 just a number of manner ins which that can occur the to start with you can hire an investment portfolio supervisor they’ll usually charge a rather a high premium to do that possibly one or two percent of your earnings will go to them the other thing is of course you can buy 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 remember this platform is quite 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 do not just presume due to the fact that i utilize it that you can use it immediately do some due diligence have a little experiment with it even invest with virtual money they give that choice also so you actually get used to the structure of the site and then when you’re ready to utilize your own cash to invest you can do so now i will disclaim naturally your capital is at threat this is investing we’re doing you’re buying real companies if you pick to in this specific video we’re talking about how to copy other people’s investments with your money so certainly your capital is at risk and we need to bear that in mind do not simply do something because that individual has said they’ve made profit 14 months in a row buy these options due to the fact that you think is the ideal ones for you and that 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 probably.
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famous for it’s the choice to see what other traders are doing extraordinary we do not usually get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that suggests with our cash we can really state i want to do precisely what that trader is doing or match that specific portfolio of choices and generally whenever they make a trade they buy they offer whatever they do your money will be mimicked 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 costs included actually vital you understand what are the expenses of this now with any platform there will be some cost to clearly these are real companies that are investing they’re doing the purchasing the selling for you there’s going to be charges included and even some of the absolutely no fee websites then may not charge you for in fact buying and selling funds or etfs individual products specific stocks.
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there’ll be fees on other parts possibly it’s our fx rate when you’re altering from uk to u.s dollars there’s all sort of charges associated so do your due diligence and i’m going to reveal you the fees with in particular in this video the next would be things to understand prior to you really begin buying copy trading or copy portfolios and finally some best recommendations best practices if you are thinking about this as a tool whether you begin your journey or your advanced investor so let’s begin with fees really crucial to understand these now on there’s a couple of fees there isn’t costs to do with in fact buying and selling alright so commission fees are free however there are a number of other charges the first one is withdrawal charges so you can clearly put money in now if you remain in the uk we put our uk cash.
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and it’s automatically converted into us dollars and i’ll cover a little point about that later however when you wish to withdraw your money so you sell your shares you sell your products 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 obviously knowing that i’m going to make certain that i’m just withdrawing when i absolutely need to now you may state okay that’s quite expensive and i get that but it’s all to do with how they run their platform they need to charge fees somewhere and withdrawal fees are simply one of those alternatives that they have a great deal of platforms undoubtedly 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 know depends totally how you’re investing however that is a charge to remember the 2nd cost that i’ve touched upon is that conversion fee now with you’re handling us dollars only there’s not an option to buy in euros or uk and that’s great that matches 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 anyone so if you’re utilizing trading 2 and 2 open market anybody this is standard they have actually i expect stuck to whatever cost they charge for that conversion rate you sort of have to accept you understand if you wish to use their platform go from uk to us then that conversion cost is there what are they really giving you in regards to 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 state provide me us dollars rather you have to pay their fees now the great thing about though when you have actually transformed your money you do not need to invest it right now that dollar value can sit in your portfolio as money dollars for as long as you like so that suggests the initial 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 additional fees so that’s really excellent utilizing that part of their site won’t definitely limit you in any way nevertheless we have to understand two other costs the very first being what’s called spread fees all right and i’m going to reveal you what i suggest on now a spread fee as i’m going to show you
on is basically the difference that becomes part of the investment platform in between the buy cost and the list price fine 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 worth 599 per share in tesla that really means that when you wish to sell or buy as you can see it’s not the rate you’re seeing up here let me show you that again so the existing price 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 manner in which they make a percentage of make money from you each time you do a purchaser’s share so keep that in mind clearly it’s more expensive to buy than it is to sell so they’re going to provide you less back with your sale and you say okay well why does that occur it simply does that is the nature of a great deal of platforms out there there’s a distinction between if you’re buying it then you wish to offer it and that is how they make a bit of money on those spread out fees it’s usually incredibly little it could be a matter of pens matter of cents in there however that’s one place every investment firm will again make a little bit money now the last feat is called an
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overnight charge now this is actually important if you’re in fact utilizing cfds yourself also an overnight charge is when you’re refraining from doing that buy sell deal in the exact same day all right there’s then an over night charge charged or perhaps if you go from the friday to the monday prior to cruising a weekend fee now this just applies to cfds so if you’re really buying out the etf the stock the commodity and using time one utilize which means you’re actually purchasing the precise property instead of utilizing utilize anyway you will not get hit with these charges however these costs are if you’re utilizing take advantage of and cfds and after that you’re going to have these charges if you’re not buy selling in the exact same day so let’s say if you go into the aid area this isn’t the over night charges details you can see precisely the breakdown and it’ll tell you what are the charges what are the charges then for when you’re doing over night or you’re doing over weekends and that only applies as i stated to cfds there are some surcharges of course depending on what you are buying too this is on your own so keep that in mind but complete costs are totally within their help details all right and we discussed as well as complimentary to deposit in however there’s a five dollar charge if you wish to withdraw from anything whether it’s been cfds normal commodity stock shares everything there’s that five dollar withdrawal fee now another thing to call it as i have actually said copy trading and copy portfolios are 2 different methods of really utilizing these copy functions they don’t have any additional costs on top of the normal costs that
are there now what you require to keep in mind though is these potentially handled by other individuals entirely or in some cases have developed portfolios you have actually got a real person doing the management you have to make sure you pick the individual that’s right for you much like any line of work this is your monetary assets so we absolutely require to make certain it’s the best person for us prior to 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 choices for us firstly if you’re brand new to investing i want to draw your attention to this within you have the option to invest real cash or a virtual platform virtual methods i believe you get yep a hundred thousand dollars to have fun with and it’s not real money that you’re investing you will not need to put in your charge card information or anything you can generally have this virtual portfolio imitate as if you are using your own cash but actually purchase pretend buy copy individuals whatever you like if you’re not
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feeling comfy with utilizing your genuine money maybe this is a great choice for you again to test the theories alright you might want to purchase tesla or apple or this etf why not use the virtual option as a way to kind of safe play with it undoubtedly you might have missed out on gains and losses during that time of course if you had actually invested your genuine cash it allows you to construct self-confidence understand the platform so that’s one alternative for you then next week and i’m going to return to my real portfolio here now we’re going to deep dive really how to copy people and copy portfolios now here’s something to keep in mind prior to you pick someone that you’re going to copy or a portfolio you’re going to copy make certain you understand what your threat profile is now what do i indicate by that certainly for me i’m investing long term and they tend to say the longer you’re leaving your investments the riskier you can be run the risk of just suggests am i fine with possibly losing a good amount of this investment or gaining as
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well now remember everything is downs and ups you will generate income you’ll lose money that’s why they make the fact 75 individuals will lose money but that similarly indicates they’ll lose eventually in their journey undoubtedly individuals do make money as well and i’ve got videos all about how you can make certain you’re one of the people to in fact earn money however in this situation make sure you research study your threat level would you be all right giving your cash to another person which is effectively what you’re doing and trusting them make sure you understand what they’re investing in completely if you’re somebody who isn’t wishing to be that dangerous don’t choose someone who’s entirely into crypto or currency conversion think of it you ‘d probably want a backbone of strong products
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like gold and even oil plus more traditional etfs and index funds you might not desire some up-and-coming single stocks in your portfolio do the very same with who you’re following now as i state you can really use this too really quickly over here you can copy individuals now it will give you a great deal of options and you can utilize the system to actually search for someone that you elegant in fact following so let’s see perhaps we desire someone from joined 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 good amount and i can find everybody who has fulfilled that criteria and it does offer you a threat aspect as well so it tends to be the greater the number the more riskier they are with their stock investing now undoubtedly there are a number of people that have quite high returns
bear in mind it’s like anything to do with the news or predictions of the future this does not mean someone will make 56 for you for the next 12 months they might 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 after that you know ask you to verify are you okay with this and off you go now another method to actually deep dive if we click this person for example ruby mza as an example you can really deep dive into what is she actually investing in so let’s go 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 understand ibm paypal yep she’s certainly like type of into those blue box and the tech industry she’s got some of mine in fact that i purchase 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 good spread in tech companies that seems to be what she prefers she’s also got a little bit more um of the sort of main food business and you have actually got you know pharmaceutical and production companies as that. Ken Baggett Trading Strategy Forex.
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