So to start the answer to Can You Day Trade Cryptocurrency On Robinhood….Questions that i hear from brand-new financiers what if you’re brand new to investing you merely do not wish to decide what you really wish 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 employ a financial investment portfolio supervisor they’ll generally charge a quite a high premium to do that perhaps a couple of percent of your earnings will go to them the other thing is of course 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 also now if you’re brand new to an overall please bear 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 don’t just assume 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 give that option also so you in fact get used to the structure of the website and then when you’re ready to use your own money to invest you can do so now i will disclaim naturally your capital is at risk this is investing we’re doing you’re investing in genuine companies if you select to in this particular video we’re discussing how to copy other individuals’s financial investments with your cash so obviously your capital is at threat and we have to bear that in mind do not simply do something since that person has stated they’ve made profit 14 months in a row buy these choices since you think is the best ones for you and that being said let’s dive directly in [Music] so the important 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 alternative to see what other traders are doing incredible we don’t normally get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading and so that implies with our money we can actually state i want to do exactly what that trader is doing or match that precise portfolio of choices and basically every time they make a trade they purchase they offer whatever they do your money will be simulated with it so that indicates if for instance 10 of their financial investment portfolio is in tesla guess what you’ll now be investing 10 of your cash in so we’re going to also cover is the charges included really critical you comprehend what are the expenses of this now with any platform there will be some cost to obviously these are real business that are investing they’re doing the purchasing the selling for you there’s going to be charges involved and even a few of the absolutely no cost sites then might not charge you for actually buying and selling funds or etfs specific products specific stocks.
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there’ll be costs on other parts perhaps it’s our fx rate when you’re changing from uk to u.s dollars there’s all type of costs associated so do your due diligence and i’m going to show you the costs with in particular in this video the next would be things to know prior to you actually begin buying copy trading or copy portfolios and lastly some best suggestions 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 fees really important to comprehend these now on there’s a number of costs there isn’t fees to do with in fact buying and selling alright so commission charges are totally free nevertheless there are a number of other fees the first one is withdrawal charges so you can certainly put money in now if you remain 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 in the future but when you want to withdraw your money so you offer your shares you sell your commodities whatever you’re offering the minimum amount you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me obviously knowing that i’m going to ensure that i’m only withdrawing when i absolutely need to now you might state fine that’s quite expensive and i get that but it’s all to do with how they run their platform they have to charge fees somewhere and withdrawal fees are simply one of those alternatives that they have a lot of platforms clearly are complimentary 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 when every six months you know depends completely how you’re investing however that is a cost to remember the 2nd charge that i’ve touched upon is that conversion cost now with you’re dealing in us dollars just there’s not an alternative to purchase in euros or uk which’s fine that matches me.
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a lot of my stocks are us dollar stocks anyhow or the etfs that i’m buying or even some crypto so i’m excellent with that we have what’s called the fx currency conversion fee now when you use anyone so if you’re utilizing trading two and two open market anyone at all this is standard they have actually i expect stuck with whatever charge they charge for that conversion rate you sort of have to accept you know if you wish to utilize their platform go from uk to us then that conversion fee exists what are they really offering 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 give me us dollars instead you have to pay their costs now the terrific aspect of however when you have actually transformed your cash you do not need to invest it right now that dollar worth can being in your portfolio as money dollars for as long as you like so that indicates 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 charges so that’s actually great using that part of their site won’t certainly limit you in any way nevertheless we have to be aware of 2 other charges the very first being what’s called spread fees 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 basically the difference that becomes part of the financial investment platform in between the buy price and the 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 right now tesla’s dollar worth 599 per share in tesla that in fact indicates that when you want to offer or purchase as you can see it’s not the rate you’re seeing up here let me reveal you that again so the current rate of tesla is the value of a share what’s called spread costs is the difference then in fact to purchase that share on the platform and you’ll find this everywhere this is another way that they make a percentage of make money from you each time you do a buyer’s share so keep that in mind certainly it’s more expensive to purchase than it is to sell so they’re going to offer you less back with your sale and you state okay well why does that happen it simply does that is the nature of a lot of platforms out there there’s a difference between if you’re buying it then you wish to sell it which is how they make a bit of money on those spread out charges it’s generally extremely small it could be a matter of pens matter of cents in there but that’s one location every investment firm will once again make a bit money now the last feat is called an
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overnight cost now this is truly crucial if you’re really utilizing cfds yourself also an over night cost is when you’re refraining from doing that buy offer transaction in the very same day alright there’s then an over night cost charged or even if you go from the friday to the monday prior to sailing a weekend cost now this only applies to cfds so if you’re actually buying out the etf the stock the product and using time one take advantage of which implies you’re in fact buying the precise asset rather than using take advantage of anyhow you will not get hit with these costs however these fees are if you’re utilizing take advantage of and cfds and then you’re going to have these costs if you’re not buy offering in the very same day so let’s say if you enter into the assistance section this isn’t the over night fees information you can see precisely 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 just uses as i stated to cfds there are some added fees naturally depending upon what you are investing in also this is on your own so keep that in mind however complete fees are entirely within their assistance information alright and we spoke about in addition to free to deposit in however there’s a five dollar charge if you wish to withdraw from anything whether it’s been cfds regular product stock shares everything there’s that 5 dollar withdrawal fee now another thing to call it as i’ve said copy trading and copy portfolios are two different ways of actually using these copy works they don’t have any additional charges on top of the typical fees that
are there now what you require to bear in mind though is these potentially handled by other individuals completely or in some cases have developed portfolios you have actually got a genuine individual doing the management you need to make certain you select the individual that’s right for you much like any kind of work this is your monetary possessions so we definitely need to make certain it’s the best individual for us before we copy them so the first things i would call it if you do wish to use this function we have actually got a number of various choices for us first off if you’re brand new to investing i wish to draw your attention to this within you have the choice to invest real cash 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 charge card details or anything you can basically have this virtual portfolio simulate as if you are utilizing your own cash but really buy pretend buy copy people whatever you like if you’re not
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feeling comfy with utilizing your real money maybe this is an excellent option for you once again to test the theories fine you might want to purchase tesla or apple or this etf why not use the virtual option as a method to sort of safe have fun with it certainly you may have lost out on gains and losses during that time of course if you had invested your real money it allows you to construct self-confidence comprehend the platform so that’s one choice 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 people and copy portfolios now here’s something to remember prior to you pick someone that you’re going to copy or a portfolio you’re going to copy make sure you understand what your danger profile is now what do i indicate by that obviously for me i’m investing long term and they tend to state the longer you’re leaving your financial investments the riskier you can be run the risk of simply indicates am i fine with potentially losing an excellent amount of this financial investment or gaining as
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well now keep in mind everything is ups and downs you will earn money you’ll lose cash that’s why they make the fact 75 individuals will lose money but that equally implies they’ll lose at some time in their journey certainly people do make money also and i’ve got videos all about how you can make sure you are among the people to in fact make money but in this scenario make certain you research your risk level would you be all right providing your cash to somebody else which is successfully what you’re doing and trusting them make certain you understand what they’re purchasing completely if you’re somebody who isn’t wishing to be that dangerous do not select someone who’s entirely into crypto or currency conversion think of it you ‘d most likely desire a backbone of strong products
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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 actually utilize this too really easily over here you can copy individuals now it will provide you a lot of choices and you can utilize the system to in fact look for someone that you expensive really following so let’s see maybe we want someone from united kingdom um who invests in let’s see who does etfs they have actually acquired at least 10 yeah that sounds fair that sounds an excellent quantity and i can find everyone who has actually met that criteria and it does provide you a danger 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 rather high returns
remember it resembles anything to do with the news or forecasts of the future this does not indicate someone will make 56 for you for the next 12 months they might make 4 or minus 50 there’s no other 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 confirm are you all right with this and off you go now another way to in fact deep dive if we click this person for instance ruby mza as an example you can actually deep dive into what is she actually 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 definitely like sort of into those blue box and the tech industry she’s got some of mine in fact that i buy too which is excellent so really for me understanding what i like to purchase my specific stocks and shares she would resonate with me she’s got an excellent spread in tech business that appears to be what she chooses she’s also got a bit more um of the sort of main food companies and you’ve got you know pharmaceutical and production companies as that. Can You Day Trade Cryptocurrency On Robinhood.
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