So to start the answer to Best Book On Cryptocurrency Trading….Questions that i hear from new investors what if you’re brand new to investing you just don’t wish to choose what you in fact wish to invest and you want someone to do it for you there’s only a number of ways that that can take place the first off you can employ an investment portfolio manager they’ll typically charge a quite 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 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 as well now if you’re brand new to a total please remember this platform is rather sophisticated you can do cfds which naturally cfds are ways 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 don’t just presume since 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 cash they consider that option too so you really get used to the structure of the website 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 danger this is investing we’re doing you’re purchasing real business if you select to in this particular video we’re speaking about how to copy other people’s investments with your cash so undoubtedly your capital is at threat and we have to bear that in mind do not just do something because that person has actually said they’ve made earnings 14 months in a row buy these choices due to the fact that you believe is the best ones for you which being stated let’s dive straight 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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famous for it’s the option to see what other traders are doing amazing we don’t generally get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that indicates with our money we can in fact state i want to do exactly what that trader is doing or match that exact portfolio of choices and generally every time they make a trade they purchase they offer whatever they do your cash will be imitated with it so that implies 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 also cover is the fees included really crucial you understand what are the expenses of this now with any platform there will be some expense to undoubtedly 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 zero fee websites then might not charge you for really buying and selling funds or etfs specific products specific 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 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 prior to you actually begin buying copy trading or copy portfolios and lastly some best recommendations best practices if you are thinking about this as a tool whether you start your journey or your advanced financier so let’s begin with charges actually crucial to understand these now on there’s a couple of charges there isn’t charges to do with actually buying and selling all right so commission costs are free nevertheless there are a number of other charges the very first one is withdrawal charges so you can obviously put cash in now if you’re in the uk we put our uk money.
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and it’s immediately converted into us dollars and i’ll cover a little point about that later on but when you want to withdraw your cash so you offer 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 understanding that i’m going to make sure that i’m just withdrawing when i definitely require to now you may say all right that’s rather pricey and i get that but it’s all to do with how they run their platform they need to charge costs someplace and withdrawal charges are simply one of those choices that they have a great deal of platforms obviously are complimentary to do such things has this five 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 fee that i’ve touched upon is that conversion charge now with you’re handling us dollars just there’s not a choice 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 purchasing and even some crypto so i’m excellent with that we have what’s called the fx currency conversion charge now when you utilize anyone so if you’re using trading 2 and 2 free trade anyone at all this is basic they have actually i expect stuck with whatever fee they charge for that conversion rate you type of have to accept you know if you want to use their platform go from uk to us then that conversion cost is there what are they in fact 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 say offer me us dollars rather you have to pay their costs now the excellent feature of however when you have actually converted your money you do not need to invest it right away 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 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 really excellent utilizing that part of their site won’t definitely limit you in any way however we have to understand two other fees the first being what’s called spread costs okay and i’m going to reveal you what i mean on now a spread fee as i’m going to show you
on is essentially the distinction that belongs to the financial investment platform between the buy price and the sale price all right 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 actually means 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 again so the existing cost of tesla is the worth of a share what’s called spread costs is the difference then really to buy that share on the platform and you’ll discover this everywhere this is another manner in which they make a small amount of benefit from you every time you do a purchaser’s share so keep that in mind undoubtedly it’s more costly to purchase than it is to sell so they’re going to give you less back with your sale and you say all right well why does that occur 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 and that is how they make a little bit of money on those spread out costs it’s generally incredibly small it could be a matter of pens matter of cents in there however that’s one place every investment firm will once again make a little bit cash now the last accomplishment is called an
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overnight fee now this is really crucial if you’re actually using cfds yourself too an over night fee is when you’re not doing that buy offer transaction in the same day okay there’s then an overnight charge charged and even if you go from the friday to the monday before cruising 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 leverage which suggests you’re in fact buying the exact property instead of utilizing leverage anyhow you won’t get hit with these charges however these costs are if you’re using leverage and cfds and after that you’re going to have these charges if you’re not buy selling in the very same day so let’s say if you enter into the assistance section this isn’t the overnight fees info you can see precisely the breakdown and it’ll inform 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 stated to cfds there are some service charges naturally depending on what you are buying also this is on your own so keep that in mind but full charges are entirely within their help details alright and we talked about along with totally free to deposit in however there’s a five dollar charge if you wish to withdraw from anything whether it’s been cfds typical product stock shares everything there’s that 5 dollar withdrawal cost now another thing to call it as i have actually stated copy trading and copy portfolios are two different ways of really utilizing these copy works they do not have any additional costs on top of the typical charges that
are there now what you need to keep in mind though is these possibly managed by other individuals completely or often have actually created portfolios you have actually got a genuine person doing the management you have to make certain you choose the individual that’s right for you similar to any line of work this is your monetary assets so we definitely require to make certain it’s the ideal individual 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 number of different alternatives for us to start with if you’re brand new to investing i wish 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 have fun with and it’s not real money that you’re investing you will not require to put in your charge card information or anything you can essentially 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 real money perhaps this is a great alternative for you again to evaluate the theories alright you may want to buy tesla or apple or this etf why not utilize the virtual option as a way to type of safe play with it obviously you may have lost out on gains and losses during that time naturally if you had invested your real money it enables you to develop confidence comprehend the platform so that’s one alternative for you then next week and i’m going to go back to my real portfolio here now we’re going to deep dive really how to copy individuals and copy portfolios now here’s something to keep in mind before you select someone that you’re going to copy or a portfolio you’re going to copy make certain you understand what your danger profile is now what do i imply by that obviously for me i’m investing long term and they tend to say the longer you’re leaving your financial investments the riskier you can be risk simply suggests am i all right with possibly losing a great amount of this investment or getting as
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well now remember everything is downs and ups you will earn money you’ll lose cash that’s why they make the fact 75 people will lose cash however that similarly means they’ll lose eventually in their journey clearly people do earn money too and i’ve got videos everything about how you can make certain you’re one of individuals to in fact make money but in this situation make sure you research your threat level would you be okay offering your money to someone else which is successfully what you’re doing and trusting them make sure you comprehend what they’re buying fully if you’re someone who isn’t wanting to be that dangerous don’t choose someone who’s completely into crypto or currency conversion think of it you ‘d most likely desire a backbone of strong products
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like gold or even oil plus more traditional etfs and index funds you might not desire 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 use this too truly easily over here you can copy people now it will offer you a great deal of options and you can utilize the system to actually 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 gotten a minimum of 10 yeah that sounds fair that sounds an excellent quantity and i can discover everybody who has actually fulfilled that criteria and it does give you a risk factor too so it tends to be the higher the number the more riskier they are with their stock investing now undoubtedly there are a variety of people that have quite 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 chance 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 confirm 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 in fact 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 great to know ibm paypal yep she’s definitely like kind of into those blue box and the tech market she’s got a few of mine in fact that i buy too which is excellent so really for me knowing what i like to purchase my individual stocks and shares she would resonate with me she’s got a good spread in tech companies that appears to be what she chooses she’s likewise got a little bit more um of the kind of main food companies and you have actually got you know pharmaceutical and production business as that. Best Book On Cryptocurrency Trading.
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