How To Become A Copy Trader Etoro – Turtles of Trading

On this post you’ll find the answer to How To Become A Copy Trader Etoro….Questions that i hear from brand-new investors what if you’re brand new to investing you just do not wish to decide what you really want to invest and you want someone to do it for you there’s only a number of manner ins which that can happen the first off you can employ an investment portfolio manager they’ll typically charge a rather a high premium to do that perhaps a couple of percent of your earnings will go to them the other thing is naturally you can purchase mutual funds specific funds are developed 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 advanced you can do cfds which of course cfds are ways of investing

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with not actually having the total of capital so with anything that you’re learning more about 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 play around with it even invest with virtual cash they give that choice as well so you actually get utilized to the structure of the website and after that when you’re ready to utilize your own money to invest you can do so now i will disclaim naturally your capital is at risk this is investing we’re doing you’re purchasing genuine business if you pick to in this particular video we’re discussing how to copy other people’s financial investments with your money so obviously your capital is at threat and we need to bear that in mind do not simply do something because that individual has stated they have actually made revenue 14 months in a row buy these options due to the fact that you believe is the best ones for you which being stated let’s dive directly 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 option to see what other traders are doing incredible we do not normally get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that means with our money we can actually say i want to do precisely what that trader is doing or match that precise portfolio of choices and essentially whenever they make a trade they buy they offer whatever they do your cash 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 costs involved actually vital you understand what are the costs of this now with any platform there will be some expense to obviously 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 no fee websites then might not charge you for in fact buying and selling etfs or funds specific commodities specific stocks.

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there’ll be fees on other parts possibly it’s our fx rate when you’re altering from uk to u.s dollars there’s all sort of costs associated so do your due diligence and i’m going to reveal you the fees with in particular in this video the next would be things to understand before you in fact begin purchasing copy trading or copy portfolios and lastly some finest suggestions finest practices if you are thinking of this as a tool whether you start your journey or your more advanced investor so let’s kick off with costs really crucial to understand these now on there’s a couple of fees there isn’t costs to do with in fact buying and selling fine so commission costs are free however there are a couple of other fees the first one is withdrawal fees so you can certainly put cash in now if you’re in the uk we put our uk cash.

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and it’s immediately converted into us dollars and i’ll cover a little point about that later on however when you want to withdraw your money so you sell your shares you offer your commodities 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 naturally knowing that i’m going to make sure that i’m only withdrawing when i definitely require to now you may state all right that’s rather costly and i get that however it’s all to do with how they run their platform they have to charge costs someplace and withdrawal costs are simply one of those alternatives that they have a great deal of platforms undoubtedly are 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 when every six months you know depends entirely how you’re investing but that is a fee to remember the second charge that i have actually touched upon is that conversion fee now with you’re handling us dollars just there’s not a choice to buy in euros or uk and that’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 even some crypto so i’m good with that we have what’s called the fx currency conversion cost now when you use anybody so if you’re utilizing trading 2 and two open market anyone at all this is basic they have i expect stuck to whatever fee they charge for that conversion rate you sort of need to accept you understand if you want to use their platform go from uk to us then that conversion cost exists what are they really 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 offer me us dollars instead you have to pay their costs now the great feature of however when you have actually transformed your money you do not have to invest it right away that dollar worth can sit in your portfolio as money dollars for as long as you like so that means the initial day that you buy or convert your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any extra fees so that’s really excellent utilizing that part of their site won’t certainly restrict you in any way nevertheless we need to understand two other fees the first being what’s called spread charges fine and i’m going to reveal you what i mean on now a spread fee as i’m going to show you

on is essentially the distinction that belongs to the financial investment platform in between the buy cost and the sale price alright 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 worth 599 per share in tesla that actually indicates that when you wish to purchase or offer as you can see it’s not the cost you’re seeing up here let me reveal you that again so the current price of tesla is the value of a share what’s called spread costs is the distinction then in fact to purchase that share on the platform and you’ll discover this all over this is another way that they make a percentage of profit from you each time you do a purchaser’s share so keep that in mind certainly it’s more expensive to buy than it is to offer 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 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 usually extremely small it could be a matter of pens matter of cents in there but that’s one location every investment company will again make a bit money now the last task is called an

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over night cost now this is really crucial if you’re in fact using cfds yourself as well an over night charge is when you’re not doing that buy sell transaction in the same day all right there’s then an over night fee charged or even if you go from the friday to the monday before cruising a weekend cost now this only applies to cfds so if you’re in fact buying out the etf the stock the product and using time one leverage which implies you’re in fact purchasing the precise possession rather than utilizing take advantage of anyway you will not get hit with these charges however these fees are if you’re using utilize and cfds and after that you’re going to have these charges if you’re not buy offering in the very same day so let’s say if you go into the help section this isn’t the over night charges info 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 overnight or you’re doing over weekends and that only applies as i stated to cfds there are some additional charges naturally depending upon what you are purchasing too this is on your own so keep that in mind but complete charges are totally within their assistance details okay and we talked about along with free to deposit in however there’s a five dollar charge if you want to withdraw from anything whether it’s been cfds normal commodity stock shares everything there’s that 5 dollar withdrawal fee now another thing to call it as i’ve said copy trading and copy portfolios are 2 various ways of actually utilizing these copy works they don’t have any additional charges on top of the typical costs that

are there now what you require to keep in mind though is these potentially managed by other people totally or often have created portfolios you’ve got a real person doing the management you need to ensure you select the person that’s right for you just like any type of work this is your monetary possessions so we definitely require to ensure it’s the ideal person 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 number of different options for us firstly if you’re brand new to investing i wish to draw your attention to this within you have the option to invest real money or a virtual platform virtual means i believe you get yep a hundred thousand dollars to have fun with and it’s not real money that you’re investing you will not need to put in your credit card information or anything you can basically have this virtual portfolio imitate as if you are using your own money however in fact buy pretend buy copy people whatever you like if you’re not

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feeling comfy with using your real money maybe this is a fantastic choice for you once again to test the theories fine you may want to buy tesla or apple or this etf why not utilize the virtual choice as a way to sort of safe play with it certainly you might have missed out on gains and losses during that time naturally if you had invested your real money it allows you to develop confidence understand the platform so that’s one choice for you then next week and i’m going to return 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 before you pick somebody 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 clearly for me i’m investing long term and they tend to state the longer you’re leaving your investments the riskier you can be run the risk of simply suggests am i fine with possibly losing a great quantity of this financial investment or acquiring as

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well now remember whatever is ups and downs you will make money you’ll lose money that’s why they make the fact 75 people will lose money however that similarly indicates they’ll lose eventually in their journey undoubtedly individuals do make money too and i’ve got videos all about how you can ensure you’re one of the people to in fact earn money however in this situation ensure you research study your risk level would you be alright giving your cash to someone else which is efficiently what you’re doing and trusting them ensure you understand what they’re purchasing completely if you’re somebody who isn’t wishing to be that risky don’t select someone who’s completely into crypto or currency conversion think about it you ‘d most likely want a foundation of strong commodities

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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 exact same with who you’re following now as i state you can actually utilize this too really easily 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 elegant really following so let’s see possibly we desire someone from united kingdom um who purchases let’s see who does etfs they have actually gotten a minimum of 10 yeah that sounds reasonable that sounds a good amount and i can discover everybody who has actually met that requirements and it does give you a danger factor too 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 individuals that have quite high returns

keep in mind it’s like anything to do with the news or forecasts of the future this does not mean somebody will make 56 for you for the next 12 months they could make 4 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 after that you understand ask you to confirm 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 actually 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 bit so that’s excellent to understand ibm paypal yep she’s certainly like type of into those blue box and the tech market she’s got a few of mine in fact that i buy too which is good so actually for me understanding what i like to purchase my individual stocks and shares she would resonate with me she’s got an excellent spread in tech business that appears to be what she prefers she’s also got a little bit more um of the type of primary food companies and you have actually got you know pharmaceutical and production business as that. How To Become A Copy Trader Etoro.

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