We get htis a lot on our site the answer to Christopher Columbus Tradingview….Questions that i speak with new financiers what if you’re brand new to investing you just do not wish to choose what you actually wish 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 first off you can work with a financial investment portfolio supervisor they’ll generally charge a rather a high premium to do that maybe a couple of percent of your revenues will go to them the other thing is obviously you can purchase mutual funds particular funds are created 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 an overall please remember this platform is quite sophisticated you can do cfds which of course cfds are ways of investing
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with not in fact having the total of capital so with anything that you’re discovering please do study the platform don’t simply assume since 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 cash they give that alternative also so you really get utilized to the structure of the site and after that when you’re ready to use your own cash to invest you can do so now i will disclaim of course your capital is at threat this is investing we’re doing you’re buying real companies if you select to in this particular video we’re talking about how to copy other individuals’s investments with your cash so clearly your capital is at threat and we need to bear that in mind do not simply do something because that person has actually stated they have actually made earnings 14 months in a row buy 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 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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popular for it’s the alternative to see what other traders are doing unbelievable we do not usually get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading and so that suggests with our cash we can really state i wish to do exactly what that trader is doing or match that precise portfolio of options and essentially every time they make a trade they purchase they sell whatever they do your money will be mimicked with it so that indicates if for example 10 of their 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 expenses of this now with any platform there will be some expense to undoubtedly these are genuine 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 sites then may not charge you for actually buying and selling funds or etfs specific commodities private stocks.
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there’ll be costs on other parts maybe it’s our fx rate when you’re altering from uk to u.s dollars there’s all kinds of costs associated so do your due diligence and i’m going to reveal you the charges with in particular in this video the next would be things to understand prior to you in fact start buying copy trading or copy portfolios and lastly some finest guidance best practices if you are thinking of this as a tool whether you begin your journey or your more advanced investor so let’s begin with fees truly important to understand these now on there’s a number of costs there isn’t charges to do with actually buying and selling okay so commission fees are totally free however there are a number of other fees the first one is withdrawal costs so you can undoubtedly put cash 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 in the future however when you want to withdraw your money 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 5 dollars per withdrawal so for me obviously understanding that i’m going to make certain that i’m only withdrawing when i absolutely require to now you may state fine that’s quite expensive and i get that however it’s all to do with how they run their platform they need to charge costs someplace and withdrawal charges are just one of those alternatives that they have a great deal of platforms certainly are complimentary to do such things has this five dollar charge so in my eyes make your withdrawals mainly it can be maybe even once a year when every 6 months you understand depends totally how you’re investing but that is a cost to bear in mind the second cost that i have actually touched upon is that conversion cost now with you’re dealing in us dollars only there’s not an alternative to purchase in euros or uk which’s fine that suits me.
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a lot of my stocks are us dollar stocks anyway or the etfs that i’m buying or perhaps 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 two free trade anybody this is standard they have actually i suppose stuck with whatever fee they charge for that conversion rate you sort of need to accept you know if you want to utilize their platform go from uk to us then that conversion charge is there what are they really giving 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 offer me us dollars instead you need to pay their fees now the fantastic feature of though when you’ve transformed your cash you do not need to invest it right now that dollar value can being in your portfolio as money dollars for as long as you like so that indicates the initial day that you purchase or convert your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any additional fees so that’s really good utilizing that part of their website won’t definitely restrict you in any way however we need to know two other costs the first being what’s called spread charges okay and i’m going to reveal you what i imply on now a spread cost as i’m going to reveal you
on is basically the distinction that belongs to the financial investment platform between the buy cost and the price fine 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 value 599 per share in tesla that really means that when you wish to buy or offer as you can see it’s not the rate you’re seeing up here let me show you that again so the existing rate of tesla is the worth of a share what’s called spread fees is the distinction then really to buy that share on the platform and you’ll find this all over this is another manner in which they make a percentage of profit from you whenever you do a purchaser’s share so keep that in mind obviously it’s more pricey to purchase than it is to sell so they’re going to provide you less back with your sale and you state alright well why does that happen 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 cash on those spread fees it’s generally incredibly little it could be a matter of pens matter of cents in there however that’s one place every investment firm will again make a bit money now the last task is called an
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overnight fee now this is actually essential if you’re in fact using cfds yourself too an overnight fee is when you’re refraining from doing that buy offer deal in the exact same day all right there’s then an overnight fee charged or perhaps if you go from the friday to the monday before sailing a weekend fee now this only applies to cfds so if you’re actually buying out the etf the stock the commodity and using time one utilize which means you’re actually purchasing the exact property instead of using leverage anyway you will not get hit with these fees however these costs are if you’re utilizing leverage and cfds and after that you’re going to have these charges if you’re not buy selling in the same day so let’s state if you go into the help area this isn’t the over night fees details you can see exactly the breakdown and it’ll inform you what are the charges what are the costs then for when you’re doing over night or you’re doing over weekends which only applies as i stated to cfds there are some additional charges of course depending upon what you are purchasing too this is on your own so keep that in mind however full fees are totally within their aid information fine and we discussed as well as complimentary to deposit in however there’s a 5 dollar charge if you want to withdraw from anything whether it’s been cfds regular commodity stock shares whatever there’s that five dollar withdrawal charge now another thing to call it as i have actually stated copy trading and copy portfolios are two different methods of actually using these copy operates they do not have any extra fees on top of the normal fees that
are there now what you require to remember though is these possibly managed by other individuals entirely or sometimes have actually produced portfolios you’ve got a genuine person doing the management you have to make sure you select the individual that’s right for you just like any type of work this is your monetary properties so we absolutely need to make certain it’s the right person for us before 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 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 genuine money or a virtual platform virtual means i think 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 charge card information or anything you can basically have this virtual portfolio mimic as if you are using your own cash but actually purchase pretend buy copy people whatever you like if you’re not
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feeling comfortable with using your real money maybe this is a fantastic choice for you once again to check the theories all right you may wish 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 might have missed out on gains and losses during that time naturally if you had invested your genuine money it enables you to develop self-confidence understand the platform so that’s one choice for you then next week and i’m going to go back to my genuine 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 prior to you choose someone 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 undoubtedly for me i’m investing long term and they tend to say the longer you’re leaving your investments the riskier you can be risk just means am i all right with potentially losing a good quantity of this investment or gaining as
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well now remember whatever is downs and ups you will earn money you’ll lose cash that’s why they make the fact 75 individuals will lose money but that equally suggests they’ll lose at some time in their journey certainly people do generate income also and i’ve got videos everything about how you can make sure you are among the people to actually generate income however in this circumstance make sure you research your threat level would you be alright offering your cash to another person which is effectively what you’re doing and trusting them make certain you understand what they’re buying fully if you’re somebody who isn’t wishing to be that dangerous don’t choose someone who’s totally into crypto or currency conversion think of it you ‘d most likely want a backbone of strong products
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like gold or 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 state you can actually utilize this too actually easily over here you can copy individuals now it will give you a lot of choices and you can utilize the system to in fact look for somebody that you fancy in fact following so let’s see maybe we desire someone from united kingdom um who buys let’s see who does etfs they have actually acquired a minimum of 10 yeah that sounds fair that sounds a good quantity and i can find everybody who has actually fulfilled that requirements and it does provide you a threat factor as well so it tends to be the greater the number the more riskier they are with their stock investing now certainly there are a number of individuals 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 suggest 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 then you understand ask you to confirm are you okay with this and off you go now another way to really deep dive if we click this person for example ruby mza as an example you can actually deep dive into what is she actually 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 great to know ibm paypal yep she’s certainly like kind of into those blue box and the tech market she’s got some of mine really 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 a great spread in tech companies that seems to be what she chooses she’s also got a bit more um of the type of primary food companies and you’ve got you know pharmaceutical and production business as that. Christopher Columbus Tradingview.
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