We get htis a lot on our site the answer to Add Group Greyed Out Thinkorswim….Questions that i speak with new financiers what if you’re brand new to investing you simply do not wish to choose what you really want to invest and you desire someone to do it for you there’s just a couple of manner ins which that can take place the to start with you can hire a financial investment portfolio manager they’ll generally charge a quite a high premium to do that maybe 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 produced 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 keep in mind this platform is quite sophisticated you can do cfds which obviously cfds are methods of investing
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with not really having the full amount of capital so with anything that you’re learning more about please do study the platform do not just presume because i utilize it that you can utilize it immediately do some due diligence have a little experiment with it even invest with virtual cash they give that choice also so you in fact get used to the structure of the site and after that when you’re ready to use your own money to invest you can do so now i will disclaim naturally 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 talking about how to copy other individuals’s financial investments with your money so obviously your capital is at danger and we need to bear that in mind do not simply do something because that individual has said they’ve made earnings 14 months in a row purchase these choices since you believe is the right ones for you and that 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 aspect that is most likely.
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well-known for it’s the option to see what other traders are doing unbelievable we do not typically get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading and so that implies with our money we can in fact state i want to do precisely what that trader is doing or match that specific portfolio of options and essentially each time they make a trade they purchase they sell whatever they do your cash will be mimicked with it so that suggests if for instance 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 likewise cover is the fees involved truly critical you comprehend what are the costs of this now with any platform there will be some cost to certainly these are real companies 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 no fee websites then may not charge you for really buying and selling funds or etfs specific commodities private 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 fees 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 understand prior to you in fact start purchasing copy trading or copy portfolios and finally some finest advice best practices if you are thinking about this as a tool whether you begin your journey or your advanced financier so let’s begin with costs really important to understand these now on there’s a couple of costs there isn’t charges to do with really buying and selling fine so commission charges are complimentary however there are a number of other costs the very first one is withdrawal costs so you can clearly put money in now if you remain in the uk we put our uk cash.
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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 cash 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 five dollars per withdrawal so for me of course understanding that i’m going to make certain that i’m only withdrawing when i definitely need to now you may state all right that’s quite costly and i get that but it’s all to do with how they run their platform they need to charge fees someplace and withdrawal charges are simply one of 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 largely it can be perhaps even once a year when every six months you know depends totally how you’re investing however that is a fee to bear in mind the 2nd cost that i’ve touched upon is that conversion fee now with you’re handling us dollars just there’s not a choice to buy in euros or uk and that’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 purchasing and even some crypto so i’m good with that we have what’s called the fx currency conversion fee now when you utilize anyone so if you’re utilizing trading 2 and two free trade anybody this is basic they have actually i suppose stuck to whatever charge they charge for that conversion rate you type of need to accept you understand if you want to use their platform go from uk to us then that conversion fee is there what are they really 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 provide me us dollars instead you have to pay their charges now the great aspect of however when you’ve transformed your cash you do not have to invest it immediately 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 convert your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any extra costs so that’s really excellent using that part of their website will not certainly restrict you in any way however we have to be aware of two other charges the first being what’s called spread fees fine and i’m going to show you what i imply on now a spread charge as i’m going to reveal you
on is basically the distinction that becomes part of the financial investment platform between the buy cost and the list price alright 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 suggests that when you want 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 current cost of tesla is the worth of a share what’s called spread charges is the difference then in fact to purchase that share on the platform and you’ll discover this all over this is another manner in which they make a small amount of benefit from you whenever you do a purchaser’s share so keep that in mind certainly it’s more pricey to purchase than it is to sell so they’re going to give you less back with your sale and you state alright well why does that happen it just does that is the nature of a great deal of platforms out there there’s a distinction in between if you’re buying it then you want to sell it which is how they make a bit of cash on those spread costs it’s normally extremely 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 task is called an
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over night charge now this is actually important if you’re actually using cfds yourself too an over night cost is when you’re refraining from doing that buy offer transaction in the very same day okay there’s then an over night fee charged or even if you go from the friday to the monday prior to cruising a weekend fee now this only applies to cfds so if you’re in fact buying out the etf the stock the product and using time one utilize which indicates you’re actually purchasing the specific property rather than using utilize anyhow you won’t get hit with these fees however these costs are if you’re using take advantage of and cfds and then you’re going to have these costs if you’re not buy offering in the exact same day so let’s say if you enter into the help area this isn’t the over night charges information 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 over night or you’re doing over weekends which only uses as i stated to cfds there are some surcharges of course depending upon what you are investing in as well this is on your own so keep that in mind but complete fees are completely within their assistance details okay and we spoke about in addition to totally free 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 five dollar withdrawal cost now another thing to call it as i have actually stated copy trading and copy portfolios are two different methods of in fact utilizing these copy operates they do not have any extra costs on top of the normal charges that
exist now what you require to bear in mind though is these potentially managed by other individuals totally or sometimes have developed portfolios you have actually got a real person doing the management you have to make sure you choose the person that’s right for you just like any line of work this is your financial properties so we definitely require to make sure 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’ve got a number of different alternatives for us first off 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 methods i think you get yep a hundred thousand dollars to have fun with and it’s not real money that you’re investing you won’t require to put in your charge card information or anything you can generally have this virtual portfolio mimic as if you are utilizing your own cash but really purchase pretend buy copy individuals whatever you like if you’re not
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feeling comfy with using your genuine cash maybe this is a great choice for you once again to test the theories all right you might wish to purchase tesla or apple or this etf why not use the virtual alternative as a method to kind of safe have fun with it clearly you may have missed out on gains and losses during that time naturally if you had invested your genuine cash it permits you to develop self-confidence understand 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 prior to you choose someone that you’re going to copy or a portfolio you’re going to copy ensure you comprehend what your danger profile is now what do i suggest 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 just indicates am i fine with potentially losing an excellent amount of this investment or getting as
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well now keep in mind whatever is downs and ups you will generate income you’ll lose cash that’s why they make the statistic 75 individuals will lose cash however that equally indicates they’ll lose at some time in their journey certainly individuals do earn money also and i have actually got videos everything about how you can make sure you’re one of the people to really generate income but in this circumstance make sure you research study your danger level would you be okay providing your money to another person which is successfully what you’re doing and trusting them make certain you comprehend what they’re buying completely if you’re somebody who isn’t wishing to be that dangerous don’t choose someone who’s totally into crypto or currency conversion consider it you ‘d probably desire a backbone of strong commodities
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like gold and even oil plus more conventional etfs and index funds you may not desire 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 use this too really easily over here you can copy individuals now it will give you a lot of options 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 joined kingdom um who buys let’s see who does etfs they’ve acquired a minimum of 10 yeah that sounds reasonable that sounds an excellent amount and i can discover everybody who has actually satisfied that criteria and it does offer you a risk element too so it tends to be the higher the number the more riskier they are with their stock investing now clearly there are a number of people that have rather high returns
bear in mind it resembles anything to do with the news or forecasts 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 other way to guarantee 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 alright with this and off you go now another method 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 buying so let’s go into portfolio and you can see she’s rather 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 sort of into those blue box and the tech industry she’s got some of mine really that i buy too which is good so in fact 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 seems to be what she chooses she’s also got a little bit more um of the type of main food companies and you’ve got you understand pharmaceutical and production business as that. Add Group Greyed Out Thinkorswim.
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