So to start the answer to Does Day Trading Apply To Cryptocurrency….Questions that i speak with brand-new investors what if you’re brand new to investing you merely do not wish to decide what you in fact want to invest and you desire someone to do it for you there’s only a couple of manner ins which that can happen the to start with you can employ an investment portfolio manager they’ll typically charge a quite a high premium to do that possibly one or two percent of your revenues will go to them the other thing is of course you can buy mutual funds specific funds are created 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 as well now if you’re brand new to a total please bear in mind this platform is quite sophisticated you can do cfds which of course cfds are ways of investing
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with not actually having the total of capital so with anything that you’re finding out about please do study the platform do not just presume due to the fact that i utilize it that you can use it right now do some due diligence have a little play around with it even invest with virtual money they consider that option too so you in fact get utilized to the structure of the site and then when you’re ready to utilize your own cash 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 genuine business if you pick to in this particular video we’re discussing how to copy other individuals’s financial investments with your money so clearly your capital is at threat and we need to bear that in mind do not simply do something because that individual has actually stated they’ve made revenue 14 months in a row buy these options because you believe is the ideal ones for you which being stated let’s dive directly in [Music] The things we’re going to cover in this video is comprehending 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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well-known for it’s the choice to see what other traders are doing incredible we do not normally 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 really state i wish to do precisely what that trader is doing or match that exact portfolio of choices and essentially every time they make a trade they buy they sell whatever they do your cash will be simulated with it so that means if for instance 10 of their investment portfolio remains in tesla guess what you’ll now be investing 10 of your cash in so we’re going to likewise cover is the charges involved actually crucial 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 some of the no charge websites then may not charge you for actually buying and selling funds or etfs individual commodities individual stocks.
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there’ll be fees on other parts perhaps it’s our fx rate when you’re changing from uk to u.s dollars there’s all kinds 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 know prior to you in fact start buying copy trading or copy portfolios and finally some best suggestions best practices if you are thinking of this as a tool whether you start your journey or your more advanced financier so let’s start with costs truly important to comprehend these now on there’s a couple of costs there isn’t charges to do with really buying and selling alright so commission costs are complimentary however there are a number of other costs the first one is withdrawal fees 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 instantly converted into us dollars and i’ll cover a little point about that later but when you wish to withdraw your money so you offer your shares you offer your products whatever you’re selling the minimum amount you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me naturally knowing that i’m going to ensure that i’m just withdrawing when i absolutely require to now you might state all right 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 somewhere and withdrawal charges are just one of those alternatives that they have a lot of platforms obviously are free to do such things has this five dollar charge so in my eyes make your withdrawals mainly it can be perhaps even once a year when every 6 months you understand depends entirely how you’re investing but that is a charge to remember the 2nd charge that i’ve discussed is that conversion cost now with you’re dealing in us dollars just there’s not an option to purchase in euros or uk and that’s great 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 great 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 2 open market anybody this is basic they have actually i suppose stuck with whatever cost 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 is there what are they in fact offering you in terms of 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 state offer me us dollars rather you have to pay their fees now the fantastic aspect of however when you have actually converted your money you do not need to invest it immediately that dollar value can being in your portfolio as money dollars for as long as you like so that implies the initial day that you buy or convert your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any extra fees so that’s actually great utilizing that part of their site won’t definitely restrict you in any way nevertheless we need to know two other costs the very first being what’s called spread charges fine and i’m going to reveal you what i suggest on now a spread fee as i’m going to show you
on is essentially the distinction that is part of the financial investment platform in between the buy price and the sale price alright 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 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 show you that once again so the present rate of tesla is the worth of a share what’s called spread costs is the distinction then in fact 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 whenever you do a buyer’s share so keep that in mind obviously it’s more costly to buy than it is to sell so they’re going to give you less back with your sale and you state okay well why does that occur it simply does that is the nature of a great deal 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 charges it’s generally exceptionally 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 task is called an
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over night cost now this is actually essential if you’re really utilizing cfds yourself too an overnight fee is when you’re not doing that buy offer deal in the exact same day all right there’s then an overnight charge charged or perhaps if you go from the friday to the monday prior to sailing a weekend fee now this just applies to cfds so if you’re actually buying out the etf the stock the product and utilizing time one take advantage of which means you’re in fact purchasing the precise property instead of using take advantage of anyhow you will not get hit with these fees however these fees are if you’re utilizing leverage and cfds and after that you’re going to have these charges if you’re not buy offering in the exact same day so let’s state if you enter into the aid area this isn’t the overnight costs info 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 and that only uses as i stated to cfds there are some added fees of course depending on what you are buying too this is on your own so keep that in mind however full costs are totally within their help info alright and we spoke about along with totally free to deposit in however there’s a 5 dollar charge if you want to withdraw from anything whether it’s been cfds typical product stock shares whatever 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 methods of actually utilizing these copy works they don’t have any extra costs on top of the typical costs that
exist now what you require to bear in mind though is these potentially handled by other individuals completely or sometimes have actually developed portfolios you have actually got a real individual doing the management you have to make certain you pick the person that’s right for you just like any line of work this is your financial assets so we definitely require to ensure it’s the best person 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 various choices for us to start with if you’re brand new to investing i want to draw your attention to this within you have the choice to invest real cash or a virtual platform virtual methods 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 credit card information or anything you can essentially have this virtual portfolio imitate as if you are utilizing your own money however really purchase 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 a great choice for you again to test the theories all right you might want to purchase tesla or apple or this etf why not utilize the virtual choice as a way to sort of safe have fun with it certainly you may have missed out on gains and losses during that time naturally if you had actually invested your real money it permits you to construct self-confidence understand the platform so that’s one alternative for you then next week and i’m going to go back to my genuine 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 pick someone that you’re going to copy or a portfolio you’re going to copy ensure you comprehend what your threat profile is now what do i mean by that obviously 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 suggests am i okay with possibly losing a great quantity of this financial investment or acquiring 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 but that equally implies they’ll lose eventually in their journey undoubtedly people do make money too and i have actually got videos all about how you can make sure you are among the people to really generate income however in this scenario make certain you research your threat level would you be alright offering your money to somebody else which is effectively what you’re doing and trusting them ensure you comprehend what they’re purchasing totally 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 probably want a backbone of strong commodities
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like gold and even oil plus more traditional etfs and index funds you might not desire some up-and-coming single stocks in your portfolio do the same with who you’re following now as i say you can actually use this too really easily over here you can copy individuals now it will offer you a lot of choices and you can use the system to in fact look for somebody that you elegant in fact following so let’s see maybe we want somebody from united kingdom um who buys let’s see who does etfs they have actually gained at least 10 yeah that sounds fair that sounds a good quantity and i can discover everybody who has met that requirements and it does offer you a danger element also 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 people that have quite high returns
bear in mind it resembles 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 other way to ensure so do keep that in mind and as simple as clicking the copy button and off you go and after that you understand ask you to confirm are you fine with this and off you go now another way to in fact deep dive if we click this person for example ruby mza as an example you can actually deep dive into what is she in fact investing in so let’s enter into portfolio and you can see she’s quite heavy into microsoft mastercard amazon she likes her tech a little bit so that’s good to know ibm paypal yep she’s certainly like type of into those blue box and the tech market she’s got some of mine really that i invest in too which is excellent so actually for me understanding what i like to invest in 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 prefers she’s likewise got a bit more um of the type of main food business and you have actually got you know pharmaceutical and production business as that. Does Day Trading Apply To Cryptocurrency.
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