We get htis a lot on our site the answer to Thinkorswim Watchlist Symbol Icons….Concerns that i speak with brand-new investors what if you’re brand new to investing you merely do not wish to choose what you really wish to invest and you want somebody to do it for you there’s only a number of manner ins which that can happen the firstly you can hire a financial investment portfolio supervisor they’ll generally charge a quite a high premium to do that possibly a couple of percent of your profits will go to them the other thing is naturally you can purchase 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 quite innovative you can do cfds which obviously cfds are methods of investing
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with not actually having the total of capital so with anything that you’re discovering please do study the platform do not simply presume since i use it that you can use it right now do some due diligence have a little experiment with it even invest with virtual money they give that alternative also so you in fact get used 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 of course your capital is at threat this is investing we’re doing you’re purchasing genuine companies if you pick to in this specific video we’re discussing how to copy other people’s financial investments with your cash so obviously your capital is at risk and we have to bear that in mind do not just do something since that person has actually stated they have actually made earnings 14 months in a row purchase these choices because you believe is the right ones for you which being stated let’s dive directly in [Music] so the things we’re going to cover in this video is understanding what is copy trading what are copy portfolios it becomes part of social trading which is one aspect that is probably.
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popular for it’s the choice to see what other traders are doing extraordinary we do not usually get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading therefore that suggests with our money we can actually state i want to do exactly what that trader is doing or match that specific portfolio of choices and basically every time they make a trade they buy they offer whatever they do your money will be simulated with it so that indicates if for instance 10 of their investment portfolio is in tesla guess what you’ll now be investing 10 of your cash in so we’re going to also cover is the costs involved really critical you comprehend what are the expenses of this now with any platform there will be some cost to clearly these are genuine 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 etfs or funds private commodities individual 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 kinds of charges associated so do your due diligence and i’m going to reveal you the costs with in particular in this video the next would be things to know before you really start investing in copy trading or copy portfolios and finally some finest guidance finest practices if you are thinking of this as a tool whether you start your journey or your advanced financier so let’s start with fees really crucial to understand these now on there’s a number of costs there isn’t charges to do with in fact buying and selling alright so commission charges are free nevertheless there are a couple of other fees the very 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 immediately 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 sell your shares you offer your products whatever you’re offering the minimum quantity you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me naturally knowing that i’m going to make sure that i’m only withdrawing when i definitely need to now you might state alright that’s rather 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 costs are just among those alternatives that they have a great deal of platforms obviously are complimentary to do such things has this 5 dollar charge so in my eyes make your withdrawals largely it can be maybe even once a year when every 6 months you understand depends totally how you’re investing however that is a cost to bear in mind the 2nd charge that i have actually touched upon is that conversion cost now with you’re handling us dollars only there’s not a choice to purchase in euros or uk and that’s great that fits me.
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a lot of my stocks are us dollar stocks anyway 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 charge now when you utilize anybody so if you’re utilizing trading 2 and 2 open market anybody this is basic they have i expect stuck with whatever charge they charge for that conversion rate you type of need to accept you understand if you wish to utilize their platform go from uk to us then that conversion cost exists what are they actually providing 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 state provide me us dollars instead you have to pay their fees now the fantastic thing about though when you have actually converted your money you do not have to invest it right now 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 transform your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any additional charges so that’s truly excellent using that part of their site will not certainly restrict you in any way nevertheless we need to understand two other costs the very first being what’s called spread charges alright and i’m going to show you what i mean 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 price and the sale price fine it’s their premium on doing both those 2 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 implies that when you wish to sell or purchase as you can see it’s not the price you’re seeing up here let me show you that again so the existing rate of tesla is the value of a share what’s called spread costs is the distinction then really to purchase that share on the platform and you’ll find this everywhere this is another manner in which they make a percentage of benefit from you whenever you do a buyer’s share so keep that in mind undoubtedly it’s more pricey to buy than it is to sell so they’re going to offer you less back with your sale and you state okay well why does that happen it simply does that is the nature of a great deal of platforms out there there’s a difference in between if you’re buying it then you want to offer it and that is how they make a little bit of money on those spread out charges it’s normally exceptionally little it could be a matter of pens matter of cents in there but that’s one place every investment firm will again make a little bit cash now the last task 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 fee is when you’re refraining from doing that buy sell deal in the same day alright there’s then an overnight charge charged or even if you go from the friday to the monday before cruising a weekend cost now this just applies to cfds so if you’re really buying out the etf the stock the commodity and utilizing time one take advantage of which implies you’re in fact buying the precise possession instead of utilizing utilize anyway you won’t get hit with these fees but these charges are if you’re using utilize and cfds and then you’re going to have these fees if you’re not buy offering in the same day so let’s say if you go into the aid area this isn’t the over night costs details you can see precisely the breakdown and it’ll tell you what are the charges what are the charges then for when you’re doing overnight or you’re doing over weekends and that only uses as i said to cfds there are some added fees obviously depending upon what you are purchasing as well this is on your own so keep that in mind but full charges are totally within their assistance info all right and we talked about along with complimentary to deposit in but there’s a five dollar charge if you want to withdraw from anything whether it’s been cfds typical commodity stock shares everything there’s that five dollar withdrawal fee now another thing to call it as i’ve said copy trading and copy portfolios are 2 various ways of in fact utilizing these copy functions they don’t have any additional charges on top of the typical fees that
exist now what you require to bear in mind though is these possibly managed by other people completely or often have created portfolios you have actually got a real person doing the management you need to make sure you select the person that’s right for you similar to any type of work this is your monetary possessions so we absolutely require to make sure it’s the best person for us prior to we copy them so the first things i would call it if you do wish to utilize this function we’ve got a number of various choices for us first off if you’re brand new to investing i wish to draw your attention to this within you have the alternative to invest real money or a virtual platform virtual methods i think you get yep a hundred thousand dollars to play with and it’s not real cash that you’re investing you will not need to put in your credit card details or anything you can generally have this virtual portfolio mimic as if you are utilizing your own cash however really buy pretend buy copy individuals whatever you like if you’re not
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feeling comfortable with utilizing your genuine money maybe this is a terrific choice for you once again to test the theories alright you may want to purchase tesla or apple or this etf why not utilize the virtual option as a way to kind of safe have fun with it obviously you may have missed out on gains and losses during that time naturally if you had invested your real cash it permits you to build 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 in fact how to copy people and copy portfolios now here’s something to remember before you choose someone that you’re going to copy or a portfolio you’re going to copy make sure you understand what your threat profile is now what do i imply by that undoubtedly 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 suggests am i fine with potentially losing a good amount of this investment or gaining as
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well now remember everything 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 suggests they’ll lose at some time in their journey undoubtedly individuals 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 generate income but in this circumstance make certain you research study your risk level would you be fine giving your money to another person which is successfully what you’re doing and trusting them make sure you comprehend what they’re purchasing completely if you’re someone who isn’t wishing to be that dangerous do not choose someone who’s completely into crypto or currency conversion think of it you ‘d probably want a backbone of strong commodities
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like gold or even oil plus more traditional etfs and index funds you might not want some up-and-coming single stocks in your portfolio do the very same with who you’re following now as i say you can really utilize this too really quickly over here you can copy people now it will provide you a lot of options and you can utilize the system to in fact search for someone that you expensive actually following so let’s see perhaps we desire someone from united kingdom um who buys let’s see who does etfs they’ve gained a minimum of 10 yeah that sounds fair that sounds an excellent quantity and i can find everybody who has actually fulfilled that requirements and it does give you a risk factor also so it tends to be the higher the number the more riskier they are with their stock investing now undoubtedly there are a number of people that have rather high returns
remember 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 easy as clicking the copy button and off you go and after that you know ask you to validate are you fine with this and off you go now another method to really deep dive if we click this person for example ruby mza as an example you can in fact deep dive into what is she in fact investing in so let’s enter 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 definitely like kind of into those blue box and the tech market she’s got some of mine in fact that i purchase too which is excellent so really for me understanding what i like to invest in my individual stocks and shares she would resonate with me she’s got an excellent spread in tech companies that appears to be what she prefers she’s likewise got a bit more um of the type of main food companies and you have actually got you understand pharmaceutical and production business as that. Thinkorswim Watchlist Symbol Icons.
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