We get htis a lot on our site the answer to Thinkorswim Ssr Script….Questions that i speak with brand-new investors what if you’re brand new to investing you merely do not wish to choose what you really want to invest and you want somebody to do it for you there’s only a number of ways that that can occur the to start with you can work with a financial investment portfolio manager they’ll usually charge a rather a high premium to do that maybe one or two percent of your profits will go to them the other thing is obviously you can purchase mutual funds specific funds are developed once 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 keep in mind this platform is rather advanced you can do cfds which naturally cfds are methods of investing
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with not in fact having the full amount of capital so with anything that you’re finding out about please do study the platform do not just presume because i use it that you can use it immediately do some due diligence have a little play around with it even invest with virtual money they consider that alternative as well so you in fact get utilized to the structure of the website and after that when you’re ready to use your own cash to invest you can do so now i will disclaim of course your capital is at danger this is investing we’re doing you’re buying genuine business if you choose to in this particular video we’re discussing how to copy other individuals’s investments with your money so undoubtedly your capital is at danger and we have to bear that in mind do not simply do something since that person has said they have actually made profit 14 months in a row purchase these choices because you believe is the best ones for you and that being stated 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 probably.
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well-known for it’s the alternative to see what other traders are doing incredible we do not typically get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading therefore that means with our cash we can actually say i wish to do precisely what that trader is doing or match that exact portfolio of alternatives and essentially whenever they make a trade they buy they sell whatever they do your cash will be simulated with it so that means if for example 10 of their financial investment portfolio is in tesla guess what you’ll now be investing 10 of your money in so we’re going to likewise cover is the fees included really crucial you understand what are the expenses of this now with any platform there will be some cost to obviously these are real companies that are investing they’re doing the buying the selling for you there’s going to be charges involved and even some of the no fee sites then may not charge you for actually buying and selling etfs or funds individual products private stocks.
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there’ll be charges on other parts maybe it’s our fx rate when you’re changing from uk to u.s dollars there’s all sort 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 understand before you really begin purchasing copy trading or copy portfolios and lastly some best advice best practices if you are thinking about this as a tool whether you begin your journey or your more advanced financier so let’s kick off with fees really essential to comprehend these now on there’s a number of costs there isn’t costs to do with really buying and selling okay so commission costs are totally free however there are a couple of other costs the very first one is withdrawal charges so you can undoubtedly put money in now if you remain in the uk we put our uk money.
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and it’s automatically converted into us dollars and i’ll cover a little point about that later but when you want to withdraw your money so you sell your shares you sell your products whatever you’re offering the minimum quantity 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 ensure that i’m just withdrawing when i absolutely need to now you might say fine that’s quite expensive and i get that however it’s all to do with how they run their platform they have to charge fees someplace and withdrawal fees are simply among those options that they have a great deal of platforms obviously are free 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 six months you know depends entirely how you’re investing however that is a cost to bear in mind the second cost that i’ve touched upon is that conversion charge now with you’re dealing in us dollars only there’s not a choice to buy in euros or uk and that’s fine 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 great with that we have what’s called the fx currency conversion fee now when you use anybody so if you’re utilizing trading 2 and two free trade anyone at all this is standard they have i expect stuck with whatever cost 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 cost exists what are they actually giving 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 say provide me us dollars rather you need to pay their fees now the great feature of however when you’ve transformed your money you do not need to invest it immediately that dollar value can sit in your portfolio as money 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 takes place now with copy trading and copy portfolios there aren’t any extra costs so that’s really excellent using that part of their website won’t definitely restrict you in any way nevertheless we have to understand two other costs the very first being what’s called spread fees alright and i’m going to reveal you what i indicate on now a spread fee as i’m going to reveal you
on is essentially the distinction that is part of the financial investment platform between the buy rate and the price okay it’s their premium on doing both those two actions now tesla if you can see on this part of the website today tesla’s dollar value 599 per share in tesla that really indicates that when you want to offer or purchase as you can see it’s not the price you’re seeing up here let me reveal you that once again so the existing cost of tesla is the worth of a share what’s called spread fees is the difference then actually to purchase that share on the platform and you’ll find this everywhere this is another way that they make a small amount of profit from you every time you do a purchaser’s share so keep that in mind certainly it’s more costly to buy than it is to sell so they’re going to provide you less back with your sale and you say fine well why does that happen it simply does that is the nature of a lot of platforms out there there’s a distinction between if you’re buying it then you wish to sell it which is how they make a little bit of cash on those spread out charges it’s typically extremely little it could be a matter of pens matter of cents in there but that’s one location every investment company will once again make a little bit money now the last accomplishment is called an
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overnight charge now this is truly essential if you’re in fact utilizing cfds yourself as well an overnight fee is when you’re refraining from doing that buy offer deal in the exact same day all right there’s then an overnight charge charged and even if you go from the friday to the monday prior to cruising a weekend cost now this only applies to cfds so if you’re really buying out the etf the stock the product and utilizing time one utilize which suggests you’re actually buying the exact asset instead of using leverage anyway you won’t get hit with these fees but 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 offering in the same day so let’s say if you go into the help area this isn’t the over night costs 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 overnight or you’re doing over weekends which only applies as i stated to cfds there are some surcharges of course depending upon what you are purchasing as well this is on your own so keep that in mind but complete charges are entirely within their aid details fine and we talked about as well as free to deposit in however there’s a 5 dollar charge if you want to withdraw from anything whether it’s been cfds normal 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 various ways of really using these copy operates they do not have any extra costs on top of the regular costs that
are there now what you require to keep in mind though is these potentially managed by other individuals completely or often have developed portfolios you’ve got a real individual doing the management you have to make sure you pick the person that’s right for you much like any type of work this is your monetary possessions so we absolutely require to ensure it’s the best individual for us before 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 different options for us firstly 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 means i believe you get yep a hundred thousand dollars to have fun with and it’s not real cash that you’re investing you won’t need to put in your charge card details or anything you can generally have this virtual portfolio mimic as if you are using your own money however really purchase pretend buy copy people whatever you like if you’re not
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feeling comfortable with utilizing your genuine money perhaps this is an excellent alternative for you once again to evaluate the theories all right you may want 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 undoubtedly you might have lost out on gains and losses during that time naturally if you had invested your genuine money it permits you to develop confidence understand the platform so that’s one option for you then next week and i’m going to return to my genuine portfolio here now we’re going to deep dive in fact how to copy individuals and copy portfolios now here’s something to remember before you select somebody that you’re going to copy or a portfolio you’re going to copy make sure you understand what your threat profile is now what do i mean by that undoubtedly for me i’m investing long term and they tend to state the longer you’re leaving your investments the riskier you can be run the risk of just means am i all right with potentially losing a good quantity of this investment or gaining as
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well now remember whatever is ups and downs you will earn money you’ll lose money that’s why they make the statistic 75 people will lose cash however that equally suggests they’ll lose at some point in their journey clearly people do earn money too and i have actually got videos everything about how you can make certain you are among individuals to in fact earn money however in this situation make certain you research study your danger level would you be fine giving your cash 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 someone who isn’t wanting to be that risky do not select someone who’s totally into crypto or currency conversion consider it you ‘d most likely desire a backbone of strong commodities
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like gold and even oil plus more standard etfs and index funds you may not desire some up-and-coming single stocks in your portfolio do the very same with who you’re following now as i say you can in fact utilize this too truly easily over here you can copy individuals now it will offer you a great deal of choices and you can utilize the system to really search for someone that you fancy in fact following so let’s see perhaps we desire somebody from joined kingdom um who invests in let’s see who does etfs they’ve acquired a minimum of 10 yeah that sounds reasonable that sounds a great amount and i can discover everyone who has actually fulfilled that criteria and it does offer you a threat aspect too so it tends to be the greater the number the more riskier they are with their stock investing now obviously there are a number of individuals that have quite high returns
keep in mind it’s like anything to do with the news or forecasts of the future this does not suggest someone will make 56 for you for the next 12 months they could make 4 or minus 50 there’s no way to guarantee so do keep that in mind and as easy as clicking the copy button and off you go and then you understand ask you to verify are you fine with this and off you go now another way 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 purchasing so let’s enter into portfolio and you can see she’s rather heavy into microsoft mastercard amazon she likes her tech a bit so that’s good to know ibm paypal yep she’s absolutely like kind of into those blue box and the tech market she’s got some of mine really that i buy too which is great so in fact for me understanding what i like to purchase my specific stocks and shares she would resonate with me she’s got a good spread in tech business that appears to be what she chooses she’s likewise got a little bit more um of the type of primary food business and you’ve got you know pharmaceutical and production companies as that. Thinkorswim Ssr Script.
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