So to start the answer to Bitcoin Trading Tastytrade….Questions that i speak with brand-new financiers what if you’re brand new to investing you merely don’t wish to choose what you actually want to invest and you desire someone to do it for you there’s only a number of ways that that can occur the to start with you can hire a financial investment portfolio supervisor they’ll normally charge a rather a high premium to do that perhaps one or two percent of your earnings will go to them the other thing is naturally you can buy 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 remember this platform is quite advanced you can do cfds which naturally cfds are methods of investing
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with not in fact having the total of capital so with anything that you’re learning more about please do study the platform don’t just assume since i utilize 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 utilized to the structure of the site and then when you’re ready to use 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 investing in genuine companies if you pick to in this specific video we’re speaking about how to copy other individuals’s investments with your cash so certainly your capital is at danger and we need to bear that in mind do not simply do something since that individual has stated they have actually made earnings 14 months in a row invest in these choices due to the fact that you believe 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 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 amazing we do not generally 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 actually state i want 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 money will be mimicked 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 charges involved actually vital you understand what are the costs 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 a few of the zero charge websites then may not charge you for actually buying and selling etfs or funds specific products private stocks.
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there’ll be charges on other parts perhaps it’s our fx rate when you’re changing from uk to u.s dollars there’s all type 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 in fact start purchasing 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 kick off with costs really essential 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 nevertheless there are a number of other costs the first one is withdrawal fees so you can obviously put cash in now if you’re 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 in the future but when you wish to withdraw your money so you offer your shares you offer your products 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 of course knowing that i’m going to make certain that i’m just withdrawing when i absolutely need to now you might state fine that’s rather expensive and i get that but it’s all to do with how they run their platform they need to charge costs someplace and withdrawal costs are just among those alternatives that they have a lot of platforms obviously are free to do such things has this 5 dollar charge so in my eyes make your withdrawals mainly it can be maybe even once a year once every six months you understand depends entirely how you’re investing but that is a fee to remember the 2nd fee that i have actually touched upon is that conversion fee now with you’re dealing in us dollars just 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 good with that we have what’s called the fx currency conversion cost now when you utilize anyone so if you’re using trading two and 2 open market anybody this is standard they have i suppose stuck to whatever fee they charge for that conversion rate you sort of need 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 actually 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 offer me us dollars rather you need to pay their costs now the fantastic aspect of though when you have actually transformed your money you do not have to invest it right now that dollar worth can sit in your portfolio as money dollars for as long as you like so that suggests the initial day that you buy or transform your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any extra charges so that’s really good utilizing that part of their website will not definitely limit you in any way nevertheless we have to understand 2 other charges the first being what’s called spread costs all right and i’m going to reveal you what i imply on now a spread charge as i’m going to show you
on is basically the distinction that belongs to the financial investment platform in between the buy cost and the sale price fine it’s their premium on doing both those 2 actions now tesla if you can see on this part of the site today tesla’s dollar value 599 per share in tesla that actually suggests that when you want to offer or buy as you can see it’s not the cost you’re seeing up here let me reveal you that once again so the existing cost of tesla is the value of a share what’s called spread charges is the difference then in fact to purchase that share on the platform and you’ll find this all over this is another way that they make a small amount of benefit from you every time you do a buyer’s share so keep that in mind undoubtedly it’s more costly to purchase than it is to sell so they’re going to provide you less back with your sale and you say all right well why does that occur it just does that is the nature of a lot of platforms out there there’s a difference in between if you’re buying it then you want to sell it and that is how they make a bit of money on those spread out charges it’s usually extremely small it could be a matter of pens matter of cents in there but that’s one location every investment firm will again make a bit money now the last feat is called an
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overnight fee now this is truly essential if you’re really utilizing cfds yourself too an overnight charge is when you’re not doing that buy sell deal in the same day fine there’s then an over night cost charged or perhaps if you go from the friday to the monday before cruising a weekend cost now this just applies to cfds so if you’re actually buying out the etf the stock the commodity and using time one leverage which suggests you’re in fact buying the exact possession rather than using leverage anyhow you will not get hit with these charges but these fees are if you’re using utilize 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 assistance section this isn’t the over night charges details 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 which only applies as i said to cfds there are some additional charges naturally depending on what you are buying too this is on your own so keep that in mind however full fees are totally within their aid info all right and we talked about in addition to complimentary to deposit in however there’s a 5 dollar charge if you want to withdraw from anything whether it’s been cfds normal product stock shares everything there’s that 5 dollar withdrawal fee now another thing to call it as i have actually stated copy trading and copy portfolios are 2 various ways of actually utilizing these copy operates they do not have any extra costs on top of the regular charges that
are there now what you need to keep in mind though is these possibly managed by other people completely or often have actually developed portfolios you have actually got a real individual doing the management you need to ensure you choose the person that’s right for you similar to any line of work this is your financial assets so we definitely require to make sure 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 utilize this function we have actually got a couple of various options for us first off if you’re brand new to investing i wish to draw your attention to this within you have the alternative to invest genuine 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 require to put in your credit card details or anything you can basically have this virtual portfolio mimic as if you are using your own money but really purchase pretend buy copy people whatever you like if you’re not
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feeling comfortable with using your real money perhaps this is a terrific option for you once again to evaluate the theories fine you might wish to buy tesla or apple or this etf why not utilize the virtual choice as a way to kind of safe have fun with it undoubtedly you may have missed out on gains and losses during that time of course if you had actually invested your real money it allows you to construct self-confidence comprehend the platform so that’s one option for you then next week and i’m going to return to my real portfolio here now we’re going to deep dive actually how to copy individuals 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 sure you comprehend what your threat profile is now what do i mean by that certainly for me i’m investing long term and they tend to state the longer you’re leaving your investments the riskier you can be risk simply indicates am i alright with possibly losing a good amount of this investment or getting as
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well now remember everything is ups and downs you will earn money you’ll lose cash that’s why they make the statistic 75 individuals will lose cash however that equally indicates they’ll lose eventually in their journey certainly people do generate income also and i have actually got videos all about how you can ensure you’re one of individuals to in fact earn money but in this situation make sure you research your danger level would you be all right giving your cash to someone else which is efficiently what you’re doing and trusting them make sure you comprehend what they’re buying fully if you’re someone who isn’t wishing to be that risky do not select someone who’s completely into crypto or currency conversion think about it you ‘d most likely want a foundation of strong commodities
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like gold or perhaps oil plus more conventional 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 in fact use this too truly easily over here you can copy people now it will give you a lot of choices and you can utilize the system to in fact look for somebody that you elegant actually following so let’s see possibly we want someone from unified kingdom um who buys let’s see who does etfs they have actually gotten a minimum of 10 yeah that sounds fair that sounds a great amount and i can find everyone who has met that criteria and it does provide you a risk aspect 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 quite high returns
remember 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 way to ensure so do keep that in mind and as simple 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 on this person for example ruby mza as an example you can really deep dive into what is she in fact purchasing 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 kind of into those blue box and the tech industry she’s got some of mine actually that i invest in too which is excellent so actually for me knowing what i like to purchase my private stocks and shares she would resonate with me she’s got a good spread in tech business that seems to be what she prefers she’s also got a little bit more um of the sort of primary food business and you have actually got you understand pharmaceutical and production companies as that. Bitcoin Trading Tastytrade.
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