We get htis a lot on our site the answer to Creating A Python Crypto Trading Bot….Concerns that i speak with brand-new investors what if you’re brand new to investing you merely do not wish to decide what you in fact want to invest and you desire somebody to do it for you there’s only a couple of manner ins which that can occur the firstly you can work with a financial investment portfolio manager they’ll usually charge a quite a high premium to do that possibly a couple of percent of your revenues will go to them the other thing is of course you can purchase mutual funds specific funds are produced 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 too now if you’re brand new to a total please remember this platform is quite sophisticated you can do cfds which obviously cfds are ways of investing
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with not in fact having the full amount of capital so with anything that you’re finding out about please do study the platform do not just presume because i use it that you can use it right away do some due diligence have a little play around with it even invest with virtual money they give that alternative also so you really get used to the structure of the site and after that when you’re ready to utilize your own money to invest you can do so now i will disclaim of course your capital is at risk this is investing we’re doing you’re buying real companies if you pick to in this particular video we’re discussing how to copy other individuals’s investments with your cash so obviously your capital is at threat and we need to bear that in mind do not simply do something since that individual has stated they have actually made revenue 14 months in a row purchase these options since you believe is the best ones for you which being stated let’s dive straight in [Music] so the important 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 element that is probably.
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well-known for it’s the choice to see what other traders are doing incredible we don’t generally get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading therefore that indicates with our cash we can in fact state i wish to do exactly what that trader is doing or match that exact portfolio of alternatives and generally whenever they make a trade they buy they offer whatever they do your money will be simulated with it so that indicates if for example 10 of their financial investment portfolio is 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 crucial you understand what are the costs of this now with any platform there will be some cost to undoubtedly these are real companies that are investing they’re doing the purchasing the selling for you there’s going to be charges included and even some of the zero cost 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 type of costs 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 begin buying copy trading or copy portfolios and lastly some best advice best practices if you are thinking of this as a tool whether you begin your journey or your advanced investor so let’s start with costs actually important to understand these now on there’s a number of costs there isn’t costs to do with in fact buying and selling alright so commission charges are complimentary nevertheless there are a couple of other charges the first one is withdrawal fees 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 automatically converted into us dollars and i’ll cover a little point about that later on but when you want to withdraw your cash 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 five dollars per withdrawal so for me obviously knowing that i’m going to make certain that i’m just withdrawing when i definitely need to now you may state alright that’s quite pricey and i get that but it’s all to do with how they run their platform they need to charge fees somewhere and withdrawal fees are just among those alternatives that they have a great deal of platforms clearly are complimentary 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 as soon as every 6 months you understand depends completely how you’re investing however that is a cost to bear in mind the second charge that i’ve touched upon is that conversion charge now with you’re handling us dollars only there’s not an option to buy in euros or uk and that’s fine that matches me.
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a great deal of my stocks are us dollar stocks anyway or the etfs that i’m buying or perhaps some crypto so i’m excellent with that we have what’s called the fx currency conversion cost now when you utilize anyone so if you’re utilizing trading 2 and 2 open market anyone at all this is basic they have actually i suppose stuck to whatever fee they charge for that conversion rate you sort of have to accept you know if you want to use their platform go from uk to us then that conversion cost exists what are they actually offering 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 state provide me us dollars rather you have to pay their fees now the terrific thing about though when you’ve transformed your money you do not have to invest it immediately that dollar value can being in your portfolio as cash dollars for as long as you like so that suggests the preliminary day that you purchase or transform your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any extra fees so that’s really excellent using that part of their site will not definitely limit you in any way nevertheless we need to understand 2 other costs the very first being what’s called spread charges alright and i’m going to reveal you what i suggest on now a spread charge as i’m going to reveal you
on is generally the distinction that belongs to the investment platform in between the buy price and the list price fine 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 in fact implies that when you want to purchase or sell as you can see it’s not the cost you’re seeing up here let me show you that once again so the current rate of tesla is the value of a share what’s called spread fees is the distinction then actually 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 benefit from you whenever you do a purchaser’s share so keep that in mind undoubtedly it’s more costly to purchase than it is to offer so they’re going to offer you less back with your sale and you say fine well why does that happen it just does that is the nature of a great deal of platforms out there there’s a distinction between if you’re buying it then you wish to offer it which is how they make a bit of cash on those spread costs it’s usually exceptionally 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 little bit cash now the last task is called an
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overnight charge now this is really important if you’re really using cfds yourself as well an overnight fee is when you’re refraining from doing that buy sell transaction in the exact 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 charge now this just applies to cfds so if you’re in fact buying out the etf the stock the product and utilizing time one leverage which means you’re actually purchasing the precise possession instead of utilizing leverage anyway you will not get hit with these costs however these costs are if you’re utilizing 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 overnight costs details you can see precisely the breakdown and it’ll inform you what are the charges what are the costs then for when you’re doing overnight or you’re doing over weekends and that only applies as i stated to cfds there are some service charges obviously depending on what you are buying as well this is on your own so keep that in mind however complete charges are totally within their help info okay and we spoke about as well as complimentary to deposit in however there’s a five dollar charge if you wish to withdraw from anything whether it’s been cfds typical commodity stock shares everything there’s that five dollar withdrawal cost now another thing to call it as i’ve said copy trading and copy portfolios are two different methods of actually utilizing these copy operates they don’t have any additional costs on top of the typical costs that
are there now what you need to remember though is these possibly managed by other individuals completely or often have developed portfolios you have actually got a real individual doing the management you have to make certain you choose the individual that’s right for you much like any kind of work this is your financial assets so we definitely require to make certain it’s the ideal individual 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 different options for us firstly if you’re brand new to investing i want to draw your attention to this within you have the alternative to invest genuine money or a virtual platform virtual ways i believe you get yep a hundred thousand dollars to play with and it’s not real cash that you’re investing you won’t need to put in your credit card details or anything you can essentially have this virtual portfolio mimic as if you are using your own cash however actually purchase pretend buy copy individuals whatever you like if you’re not
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feeling comfortable with utilizing your real money maybe this is a great choice for you again to evaluate the theories all right you may want to purchase tesla or apple or this etf why not utilize the virtual alternative as a way to type of safe have fun with it obviously you may have missed out on gains and losses throughout that time obviously if you had actually invested your real cash it enables you to build self-confidence comprehend the platform so that’s one option for you then next week and i’m going to go back to my genuine 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 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 certainly 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 run the risk of just suggests am i all right with possibly losing a great amount of this investment or getting as
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well now remember everything is ups and downs you will generate income you’ll lose cash that’s why they make the statistic 75 people will lose money but that similarly indicates they’ll lose at some point in their journey undoubtedly individuals do generate income also and i’ve got videos all about how you can make certain you are among individuals to in fact make money however in this situation ensure you research your danger level would you be okay giving your money to another person which is effectively what you’re doing and trusting them ensure you understand what they’re buying fully if you’re somebody who isn’t wishing to be that risky do not pick someone who’s entirely into crypto or currency conversion think about it you ‘d probably want a foundation of strong products
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like gold or even oil plus more standard etfs and index funds you might not want some up-and-coming single stocks in your portfolio do the exact same with who you’re following now as i state you can really utilize this too actually quickly over here you can copy individuals now it will offer 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 perhaps we want someone from joined kingdom um who purchases let’s see who does etfs they have actually gotten at least 10 yeah that sounds reasonable that sounds a great amount and i can discover everyone who has actually met that criteria and it does give you a threat element as well so it tends to be the greater the number the more riskier they are with their stock investing now obviously there are a number of people that have quite high returns
remember it’s like anything to do with the news or forecasts of the future this does not suggest someone will make 56 for you for the next 12 months they could make four or minus 50 there’s no chance to ensure so do keep that in mind and as easy 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 method to really deep dive if we click on this person for instance ruby mza as an example you can in fact deep dive into what is she in fact purchasing 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 great to know ibm paypal yep she’s absolutely like sort of into those blue box and the tech industry she’s got a few of mine actually that i purchase too which is good so really for me understanding what i like to invest in my specific stocks and shares she would resonate with me she’s got an excellent spread in tech companies that seems to be what she prefers she’s also got a bit more um of the kind of primary food companies and you’ve got you understand pharmaceutical and production business as that. Creating A Python Crypto Trading Bot.
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