We get htis a lot on our site the answer to How To Logout Thinkorswim….Concerns that i speak with new investors what if you’re brand new to investing you merely do not want to choose what you really want to invest and you want somebody to do it for you there’s just a number of ways that that can take place the to start with you can hire a financial investment portfolio manager they’ll normally charge a rather a high premium to do that perhaps one or two percent of your revenues will go to them the other thing is naturally you can buy mutual funds particular funds are created 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 a total please bear in mind this platform is rather advanced you can do cfds which obviously cfds are ways of investing
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with not in fact having the total of capital so with anything that you’re finding out about please do study the platform do not just assume because i use 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 choice also so you actually get used to the structure of the website 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 threat this is investing we’re doing you’re buying real companies if you choose to in this particular video we’re discussing how to copy other individuals’s investments with your money so undoubtedly your capital is at threat and we have to bear that in mind do not just do something because that person has stated they have actually made revenue 14 months in a row buy these choices since you believe is the right ones for you which being said 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 probably.
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well-known for it’s the choice to see what other traders are doing unbelievable we don’t usually get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading and so that means with our cash we can really state i wish to do precisely what that trader is doing or match that exact portfolio of options and generally whenever they make a trade they buy they offer whatever they do your cash will be simulated with it so that implies 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 fees involved truly important you comprehend what are the expenses of this now with any platform there will be some expense to undoubtedly 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 some of the zero fee sites then might not charge you for in fact buying and selling funds or etfs specific products individual stocks.
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there’ll be fees on other parts maybe 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 charges 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 recommendations finest practices if you are considering this as a tool whether you begin your journey or your more advanced investor so let’s kick off with fees truly crucial to understand these now on there’s a number of costs there isn’t costs to do with really buying and selling okay so commission charges are free however there are a number of other fees the very first one is withdrawal charges so you can clearly put cash in now if you’re in the uk we put our uk cash.
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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 cash so you offer your shares you sell your commodities 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 understanding that i’m going to make certain that i’m only withdrawing when i definitely require to now you may state fine that’s quite costly and i get that but it’s all to do with how they run their platform they have to charge fees someplace and withdrawal charges are just among those alternatives that they have a lot of platforms undoubtedly are totally free to do such things has this 5 dollar charge so in my eyes make your withdrawals mostly it can be maybe even once a year when every six months you know depends entirely how you’re investing but that is a fee to remember the second fee that i’ve touched upon is that conversion fee now with you’re handling us dollars just there’s not an option to buy in euros or uk which’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 purchasing or perhaps 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 using trading two and 2 open market anybody this is standard they have i expect stuck with whatever cost they charge for that conversion rate you type of have to accept you know if you wish to use their platform go from uk to us then that conversion charge is there what are they actually providing you in regards to 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 rather you need to pay their charges now the excellent aspect of however when you’ve converted your money you do not have to invest it immediately that dollar worth can being in your portfolio as money dollars for as long as you like so that implies the preliminary 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 costs so that’s truly excellent utilizing that part of their site won’t definitely restrict you in any way nevertheless we have to know 2 other costs the very first being what’s called spread fees fine 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 difference that is part of the financial investment platform between the buy price and the list price fine 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 worth 599 per share in tesla that actually suggests that when you wish to purchase or offer as you can see it’s not the price you’re seeing up here let me show you that once again so the existing price of tesla is the worth of a share what’s called spread charges is the distinction then really to purchase that share on the platform and you’ll find this all over this is another manner in which they make a small amount of profit from you each time you do a purchaser’s share so keep that in mind undoubtedly it’s more pricey to buy than it is to sell so they’re going to give you less back with your sale and you say okay 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 out fees it’s typically exceptionally little it could be a matter of pens matter of cents in there but that’s one place every investment company will once again make a little bit cash now the last accomplishment is called an
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over night fee now this is truly essential if you’re really utilizing cfds yourself too an overnight cost 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 even if you go from the friday to the monday prior to sailing a weekend charge now this only applies to cfds so if you’re in fact buying out the etf the stock the commodity and utilizing time one utilize which suggests you’re really buying the specific property instead of utilizing take advantage of anyhow you won’t get hit with these costs however these charges are if you’re using utilize and cfds and after that you’re going to have these costs if you’re not buy selling in the very same day so let’s say if you go into the help section this isn’t the over night fees details you can see exactly the breakdown and it’ll tell you what are the charges what are the costs then for when you’re doing over night or you’re doing over weekends and that only applies as i stated to cfds there are some added fees naturally depending on what you are purchasing as well this is on your own so keep that in mind but full fees are totally within their assistance information okay and we discussed in addition to totally free to deposit in however there’s a five dollar charge if you want to withdraw from anything whether it’s been cfds regular commodity stock shares everything there’s that five dollar withdrawal charge now another thing to call it as i’ve stated copy trading and copy portfolios are two various ways of really using these copy functions they do not have any additional charges on top of the regular costs that
are there now what you need to remember though is these possibly handled by other individuals completely or sometimes have actually developed portfolios you’ve got a real individual doing the management you have to make certain you pick the individual that’s right for you just like any profession this is your monetary properties so we absolutely need 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 want to use this function we have actually got a number of various alternatives for us first of all if you’re brand new to investing i wish to draw your attention to this within you have the alternative to invest genuine cash or a virtual platform virtual methods 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 require to put in your credit card information or anything you can generally 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 comfortable with utilizing your genuine money possibly this is a fantastic 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 play with it obviously you may have missed out on gains and losses during that time obviously if you had invested your genuine money it enables you to construct confidence comprehend the platform so that’s one choice 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 remember prior to you select somebody that you’re going to copy or a portfolio you’re going to copy make certain you comprehend what your danger profile is now what do i mean 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 risk just means am i fine with potentially losing a great quantity of this investment or gaining 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 fact 75 people will lose money but that equally implies they’ll lose at some time in their journey certainly people do make money too and i have actually got videos everything about how you can make sure you’re one of the people to in fact generate income but in this situation make sure you research study your risk level would you be all right offering your cash to somebody else which is effectively what you’re doing and trusting them make sure you understand what they’re purchasing totally if you’re someone who isn’t wishing to be that dangerous do not select someone who’s totally into crypto or currency conversion consider it you ‘d most likely desire a foundation of strong products
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like gold or perhaps oil plus more traditional etfs and index funds you may not want some up-and-coming single stocks in your portfolio do the same with who you’re following now as i say you can really utilize this too really easily over here you can copy people now it will provide you a great deal of options and you can utilize the system to really search for someone that you elegant really following so let’s see maybe we desire someone from joined kingdom um who invests in let’s see who does etfs they’ve gained at least 10 yeah that sounds fair that sounds an excellent amount and i can discover everyone who has actually met that requirements and it does offer you a threat factor as well so it tends to be the higher the number the more riskier they are with their stock investing now undoubtedly there are a variety of people that have quite high returns
bear in mind it’s like anything to do with the news or predictions of the future this does not suggest somebody 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 basic 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 method to in fact deep dive if we click on this person for example ruby mza as an example you can in fact deep dive into what is she in fact 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 good to understand ibm paypal yep she’s absolutely like kind of into those blue box and the tech market she’s got some of mine really that i buy too which is good 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 good 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 understand pharmaceutical and production business as that. How To Logout Thinkorswim.
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