We get htis a lot on our site the answer to Creating A Python Crypto Trading Bot….Concerns that i speak with new financiers what if you’re brand new to investing you merely do not want to decide what you really wish to invest and you want someone to do it for you there’s just a number of ways that that can occur the first of all you can hire an investment portfolio manager they’ll typically charge a quite a high premium to do that perhaps one or two percent of your profits will go to them the other thing is naturally you can buy mutual funds particular funds are developed 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 also now if you’re brand new to an overall please remember this platform is quite advanced you can do cfds which naturally cfds are ways of investing
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with not actually having the total of capital so with anything that you’re learning about please do study the platform don’t simply presume due to the fact that i utilize it that you can use it right away do some due diligence have a little experiment with it even invest with virtual cash they consider that alternative also so you in fact get utilized to the structure of the website and then when you’re ready to use your own cash to invest you can do so now i will disclaim naturally your capital is at threat this is investing we’re doing you’re investing in genuine business if you select to in this particular video we’re talking about how to copy other people’s financial investments with your money so obviously your capital is at danger and we need to bear that in mind do not just do something since that individual has actually stated they’ve made revenue 14 months in a row buy these choices because you believe is the ideal ones for you and that being stated let’s dive directly 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 probably.
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popular for it’s the option to see what other traders are doing amazing we do not normally get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading therefore that indicates with our cash we can really state i wish to do exactly what that trader is doing or match that specific portfolio of choices and generally each time they make a trade they purchase they sell whatever they do your cash will be imitated with it so that suggests if for instance 10 of their financial investment portfolio remains in tesla guess what you’ll now be investing 10 of your money in so we’re going to also cover is the costs involved truly important you understand what are the costs of this now with any platform there will be some expense to certainly these are real business that are investing they’re doing the buying the selling for you there’s going to be charges included and even some of the zero fee websites then may not charge you for actually buying and selling etfs or funds private commodities individual 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 fees associated so do your due diligence and i’m going to show you the fees with in particular in this video the next would be things to know prior to you in fact begin buying copy trading or copy portfolios and finally some best suggestions 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 actually essential to comprehend these now on there’s a couple of fees there isn’t fees to do with actually buying and selling all right so commission costs are free nevertheless there are a number of other costs the first one is withdrawal fees so you can undoubtedly put money in now if you’re in the uk we put our uk money.
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and it’s automatically converted into us dollars and i’ll cover a little point about that later however when you want to withdraw your money so you sell your shares you sell your products whatever you’re selling the minimum amount you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me obviously knowing that i’m going to make certain that i’m only withdrawing when i definitely need to now you may say fine that’s quite costly and i get that but it’s all to do with how they run their platform they need to charge costs somewhere and withdrawal fees are just among those choices that they have a lot of platforms obviously are totally free 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 once every six months you understand depends totally how you’re investing however that is a cost to keep in mind the second fee that i’ve touched upon is that conversion charge now with you’re handling us dollars only there’s not an alternative to purchase in euros or uk and that’s fine that suits me.
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a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m buying or perhaps 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 using trading two and 2 open market anybody this is standard they have i expect stuck to whatever fee 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 charge is there what are they in fact providing 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 state provide me us dollars rather you need to pay their fees now the great thing about however when you’ve transformed your money 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 indicates the preliminary day that you purchase or convert your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any additional charges so that’s actually great utilizing that part of their website will not definitely restrict you in any way nevertheless we need to know two other charges the first being what’s called spread costs all right and i’m going to show you what i mean on now a spread cost as i’m going to show you
on is generally the difference that belongs to the financial investment platform between the buy cost and the list price all right it’s their premium on doing both those 2 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 actually indicates that when you want to buy 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 rate of tesla is the worth of a share what’s called spread fees is the distinction then really 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 make money from you whenever you do a purchaser’s share so keep that in mind clearly it’s more costly to buy than it is to offer so they’re going to provide you less back with your sale and you say fine well why does that happen it simply does that is the nature of a great deal of platforms out there there’s a difference between if you’re buying it then you wish to offer it which is how they make a little bit of money on those spread out fees it’s normally incredibly little it could be a matter of pens matter of cents in there but that’s one place every investment firm will once again make a bit money now the last accomplishment is called an
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over night cost now this is truly important if you’re actually utilizing cfds yourself also an over night cost is when you’re not doing that buy sell transaction in the very same day okay there’s then an over night fee charged and even if you go from the friday to the monday before 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 utilize which suggests you’re in fact purchasing the specific possession rather than utilizing take advantage of anyway you will not get hit with these charges however these costs are if you’re utilizing utilize 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 say if you go into the help area this isn’t the overnight charges details you can see precisely the breakdown and it’ll inform you what are the charges what are the charges then for when you’re doing over night or you’re doing over weekends which just uses as i said to cfds there are some surcharges of course depending on what you are buying also this is on your own so keep that in mind but full costs are completely within their assistance information alright and we talked about as well as free to deposit in but there’s a 5 dollar charge if you wish to withdraw from anything whether it’s been cfds typical commodity stock shares whatever there’s that 5 dollar withdrawal fee now another thing to call it as i’ve stated copy trading and copy portfolios are two different methods of actually using these copy functions they don’t have any additional fees on top of the normal charges that
exist now what you require to remember though is these potentially handled by other individuals totally or often have actually created portfolios you have actually got a real person doing the management you need to make sure you choose the person that’s right for you just like any kind of work this is your financial properties so we definitely need to make certain it’s the ideal individual for us prior to 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 alternatives for us to start with if you’re brand new to investing i want to draw your attention to this within you have the option to invest genuine cash or a virtual platform virtual means i think you get yep a hundred thousand dollars to play with and it’s not real money that you’re investing you will not require to put in your charge card information or anything you can essentially have this virtual portfolio imitate as if you are using your own cash but really buy pretend buy copy individuals whatever you like if you’re not
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feeling comfy with utilizing your real cash maybe this is a terrific alternative for you once again to evaluate the theories fine you might want to buy tesla or apple or this etf why not use the virtual alternative as a way to kind of safe play with it obviously you might have missed out on gains and losses throughout that time of course if you had actually invested your real money it permits you to develop confidence comprehend the platform so that’s one alternative for you then next week and i’m going to go back to my real portfolio here now we’re going to deep dive in fact how to copy people and copy portfolios now here’s something to keep in mind prior to you select 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 mean by that undoubtedly 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 risk simply suggests am i okay with possibly losing an excellent amount of this financial investment or acquiring as
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well now keep in mind whatever is ups and downs you will generate income you’ll lose money that’s why they make the figure 75 people will lose cash but that similarly indicates they’ll lose at some point in their journey obviously people do earn money also and i have actually got videos everything about how you can make sure you’re one of individuals to in fact earn money but in this scenario make sure you research study your threat level would you be alright giving your money to somebody else which is effectively what you’re doing and trusting them make certain you comprehend what they’re purchasing fully if you’re somebody who isn’t wanting to be that dangerous do not select somebody who’s totally into crypto or currency conversion think about it you ‘d probably want a backbone of strong products
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like gold or perhaps oil plus more conventional etfs and index funds you may not want some up-and-coming single stocks in your portfolio do the very same with who you’re following now as i state you can actually utilize this too actually quickly over here you can copy people now it will provide you a great deal of options and you can use the system to in fact look for someone that you elegant really following so let’s see possibly we desire someone from unified kingdom um who buys let’s see who does etfs they have actually gotten at least 10 yeah that sounds fair that sounds an excellent quantity and i can discover everybody who has fulfilled that criteria and it does give you a threat element too so it tends to be the higher the number the more riskier they are with their stock investing now obviously there are a variety of individuals that have rather high returns
remember it resembles anything to do with the news or forecasts of the future this does not mean someone will make 56 for you for the next 12 months they might make four or minus 50 there’s no chance to guarantee so do keep that in mind and as simple as clicking the copy button and off you go and then you know 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 really deep dive into what is she really buying so let’s enter into portfolio and you can see she’s quite heavy into microsoft mastercard amazon she likes her tech a bit so that’s excellent to know ibm paypal yep she’s absolutely like kind of into those blue box and the tech market she’s got a few of mine actually that i buy too which is great so actually for me knowing what i like to buy my private stocks and shares she would resonate with me she’s got a great spread in tech companies that appears to be what she chooses she’s likewise got a bit more um of the sort of main food companies and you have actually got you know pharmaceutical and production companies as that. Creating A Python Crypto Trading Bot.
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