We get htis a lot on our site the answer to How I Learned Day Trading With Etoro….Questions that i hear from new financiers what if you’re brand new to investing you merely do not want to decide what you in fact want to invest and you want someone to do it for you there’s only a number of ways that that can take place the firstly you can hire a financial investment portfolio manager they’ll usually charge a quite a high premium to do that perhaps one or two percent of your revenues will go to them the other thing is naturally you can purchase mutual funds particular funds are developed 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 too now if you’re brand new to a total please remember this platform is rather innovative 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 learning about please do study the platform don’t simply assume since i utilize it that you can use it right away do some due diligence have a little play around with it even invest with virtual money they give that alternative also so you in fact get utilized to the structure of the site and then when you’re ready to utilize your own money to invest you can do so now i will disclaim obviously your capital is at risk this is investing we’re doing you’re purchasing real business if you choose to in this particular video we’re discussing how to copy other people’s financial investments with your money so obviously your capital is at threat and we have to bear that in mind do not simply do something because that person has actually said they’ve made earnings 14 months in a row buy these options because you believe is the best ones for you and that 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 choice to see what other traders are doing incredible we don’t generally get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading therefore that suggests with our cash we can in fact say i wish to do precisely what that trader is doing or match that exact portfolio of alternatives and generally each time they make a trade they purchase they offer whatever they do your cash will be imitated with it so that means if for instance 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 also cover is the fees included truly crucial you understand what are the costs of this now with any platform there will be some expense to clearly these are genuine business that are investing they’re doing the purchasing the selling for you there’s going to be charges included and even a few of the absolutely no charge websites then may not charge you for actually buying and selling funds or etfs specific products individual stocks.
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there’ll be fees on other parts perhaps it’s our fx rate when you’re altering from uk to u.s dollars there’s all kinds of charges associated so do your due diligence and i’m going to reveal you the costs with in particular in this video the next would be things to understand before you in fact begin purchasing copy trading or copy portfolios and lastly some best advice finest practices if you are thinking of this as a tool whether you begin your journey or your more advanced financier so let’s begin with charges truly essential to comprehend these now on there’s a couple of charges there isn’t fees to do with in fact buying and selling fine so commission fees are totally free however there are a number of other charges the very first one is withdrawal fees so you can undoubtedly put cash 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 later but when you wish to withdraw your cash so you sell your shares you offer 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 naturally knowing that i’m going to make sure that i’m only withdrawing when i definitely require to now you may say alright that’s rather expensive and i get that however it’s all to do with how they run their platform they need to charge costs someplace and withdrawal charges are simply among those options 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 mostly it can be maybe even once a year once every six months you know depends totally how you’re investing but that is a cost 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 alternative to purchase in euros or uk which’s great that fits me.
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a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m buying or perhaps some crypto so i’m great 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 free trade anyone at all this is basic they have i expect stuck with whatever cost they charge for that conversion rate you kind of have to accept you know if you wish to use their platform go from uk to us then that conversion cost exists what are they in fact providing you in regards to 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 give me us dollars rather you need to pay their charges now the fantastic aspect of however when you have actually converted your cash you do not need to invest it right now that dollar value 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 happens now with copy trading and copy portfolios there aren’t any extra costs so that’s actually excellent utilizing that part of their website will not definitely restrict you in any way however we need to be aware of 2 other charges the first being what’s called spread charges okay and i’m going to show you what i mean on now a spread fee as i’m going to reveal you
on is generally the difference that becomes part of the investment platform in between the buy rate and the list price all right it’s their premium on doing both those two 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 indicates that when you wish to purchase or offer 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 distinction then really to buy that share on the platform and you’ll discover this all over this is another manner in which they make a percentage of profit from you each time you do a buyer’s share so keep that in mind undoubtedly 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 state all right 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 want to sell it and that is how they make a bit of cash on those spread out costs it’s usually incredibly little it could be a matter of pens matter of cents in there however that’s one place every investment company will once again make a bit money now the last accomplishment is called an
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overnight fee now this is really crucial if you’re really utilizing cfds yourself too an over night charge is when you’re not doing that buy sell transaction in the exact same day okay there’s then an overnight charge charged and even if you go from the friday to the monday before sailing a weekend fee now this just applies to cfds so if you’re actually buying out the etf the stock the product and using time one take advantage of which suggests you’re actually buying the specific possession rather than utilizing leverage anyway you will not get hit with these charges however these charges are if you’re utilizing leverage and cfds and after that you’re going to have these costs if you’re not buy selling in the very same day so let’s state if you enter into the aid 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 and that just applies as i said to cfds there are some surcharges naturally depending upon what you are purchasing as well this is on your own so keep that in mind however complete fees are entirely within their aid info fine and we spoke about along with free to deposit in however there’s a five dollar charge if you want to withdraw from anything whether it’s been cfds regular product stock shares everything there’s that 5 dollar withdrawal cost now another thing to call it as i have actually said copy trading and copy portfolios are two various ways of in fact utilizing these copy operates they do not have any extra fees on top of the normal fees that
exist now what you require to remember though is these possibly managed by other people entirely or sometimes have produced portfolios you’ve got a genuine person doing the management you have to make sure you select the individual that’s right for you similar to any line of work this is your monetary properties so we definitely need to make certain it’s the right 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 have actually got a couple of various alternatives for us firstly if you’re brand new to investing i want to draw your attention to this within you have the choice to invest real money or a virtual platform virtual ways i think you get yep a hundred thousand dollars to play with and it’s not real money that you’re investing you won’t require to put in your credit card information or anything you can basically have this virtual portfolio imitate as if you are using your own cash but in fact purchase pretend buy copy individuals whatever you like if you’re not
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feeling comfortable with using your genuine money maybe this is a great choice for you once again to test the theories fine you may want to buy 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 might have lost out on gains and losses throughout that time obviously if you had invested your real money it allows you to develop confidence comprehend the platform so that’s one alternative 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 people and copy portfolios now here’s something to keep in mind before you select somebody that you’re going to copy or a portfolio you’re going to copy make certain you comprehend what your danger profile is now what do i suggest by that clearly 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 simply indicates am i okay with potentially losing an excellent quantity of this investment or gaining as
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well now keep in mind whatever is ups and downs you will make money you’ll lose money that’s why they make the statistic 75 people will lose money but that similarly means they’ll lose at some point in their journey certainly people do generate income too and i’ve got videos all about how you can make certain you’re one of individuals to really generate income but in this situation make certain you research your danger level would you be fine providing your cash to another person which is efficiently what you’re doing and trusting them make certain you understand what they’re purchasing completely if you’re somebody who isn’t wanting to be that dangerous don’t pick someone who’s totally into crypto or currency conversion think of it you ‘d most likely want a foundation of strong products
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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 really quickly over here you can copy individuals now it will give you a great deal of options and you can use the system to in fact look for someone that you fancy really following so let’s see perhaps we want someone from unified kingdom um who invests in let’s see who does etfs they’ve acquired at least 10 yeah that sounds reasonable that sounds a great quantity and i can find everyone who has actually met that requirements 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 undoubtedly there are a number of individuals that have quite high returns
keep in mind it resembles anything to do with the news or predictions of the future this does not imply someone will make 56 for you for the next 12 months they might make 4 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 understand ask you to validate are you alright with this and off you go now another method to in fact deep dive if we click this person for example ruby mza as an example you can really deep dive into what is she in fact 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 great to understand ibm paypal yep she’s absolutely like type of into those blue box and the tech market she’s got some of mine actually that i invest in too which is excellent so really for me understanding what i like to buy my individual 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 main food business and you’ve got you know pharmaceutical and production companies as that. How I Learned Day Trading With Etoro.
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