How To Use Etoro Open Book – Turtles of Trading

On this post you’ll find the answer to How To Use Etoro Open Book….Concerns that i hear from brand-new financiers what if you’re brand new to investing you just 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 manager they’ll typically charge a quite a high premium to do that maybe a couple of percent of your profits will go to them the other thing is obviously you can purchase mutual funds particular funds are produced once 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 an overall please remember this platform is quite sophisticated you can do cfds which naturally cfds are methods of investing

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with not actually having the full amount 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 use it that you can use it right now do some due diligence have a little experiment with it even invest with virtual cash they consider that alternative also so you really get used to the structure of the website and then when you’re ready to use your own money to invest you can do so now i will disclaim naturally your capital is at danger this is investing we’re doing you’re investing in real business if you choose 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 threat and we need to bear that in mind do not simply do something because that individual has stated they’ve made earnings 14 months in a row invest in these choices because you believe is the right ones for you and that being said 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 aspect that is most likely.

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well-known for it’s the choice to see what other traders are doing unbelievable we do not generally get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading and so that implies with our money we can really say i wish to do precisely what that trader is doing or match that precise portfolio of options and essentially each time they make a trade they purchase they sell whatever they do your cash will be mimicked with it so that implies if for instance 10 of their investment portfolio is in tesla guess what you’ll now be investing 10 of your money in so we’re going to likewise cover is the costs included really important you understand what are the costs of this now with any platform there will be some cost to certainly these are genuine companies that are investing they’re doing the buying the selling for you there’s going to be charges involved and even a few of the no fee sites then might not charge you for actually buying and selling etfs or funds specific products individual stocks.

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there’ll be costs on other parts perhaps it’s our fx rate when you’re altering from uk to u.s dollars there’s all type of charges 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 before you in fact begin purchasing copy trading or copy portfolios and finally some finest suggestions finest practices if you are considering this as a tool whether you begin your journey or your more advanced investor so let’s begin with fees really important to understand these now on there’s a number of charges there isn’t charges to do with in fact buying and selling all right so commission costs are free nevertheless there are a number of other fees the very first one is withdrawal costs so you can undoubtedly put money in now if you remain 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 but when you want to withdraw your cash so you offer your shares you offer your commodities whatever you’re selling the minimum quantity 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 might say 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 costs someplace and withdrawal costs are just one of those options that they have a lot of platforms undoubtedly 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 as soon as every six months you understand depends completely how you’re investing however that is a cost to bear in mind the 2nd fee that i have actually touched upon is that conversion cost now with you’re handling us dollars just there’s not a choice to purchase in euros or uk which’s great that fits me.

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a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing and even some crypto so i’m great with that we have what’s called the fx currency conversion fee now when you use anybody so if you’re utilizing trading 2 and 2 free trade anyone at all this is standard they have i suppose stuck with whatever cost they charge for that conversion rate you type of have to accept you understand if you want to utilize their platform go from uk to us then that conversion charge is there what are they really 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 say give me us dollars instead you have to pay their costs now the fantastic aspect of however when you have actually transformed your cash you do not have to invest it right away that dollar worth can being in your portfolio as cash dollars for as long as you like so that suggests the preliminary 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 additional costs so that’s really excellent using that part of their website will not definitely limit you in any way nevertheless we have to know two other charges the first being what’s called spread costs all right and i’m going to show you what i suggest on now a spread fee as i’m going to show you

on is basically the difference that belongs to the investment platform in between the buy cost and the price alright 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 worth 599 per share in tesla that in fact suggests that when you wish to sell or buy as you can see it’s not the price you’re seeing up here let me show you that once again so the present price of tesla is the value of a share what’s called spread fees is the difference then in fact to purchase that share on the platform and you’ll find this all over this is another way that they make a small amount of profit from you every time you do a purchaser’s share so keep that in mind undoubtedly it’s more costly to purchase than it is to sell so they’re going to give you less back with your sale and you state all right well why does that occur it simply does that is the nature of a lot of platforms out there there’s a distinction between if you’re buying it then you wish to sell it which is how they make a bit of cash on those spread out fees it’s normally exceptionally small it could be a matter of pens matter of cents in there however that’s one location every investment firm will again make a bit cash now the last task is called an

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over night fee now this is truly crucial if you’re actually utilizing cfds yourself also an over night cost is when you’re not doing that buy offer transaction in the very same day okay there’s then an overnight fee charged and 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 commodity and utilizing time one leverage which implies you’re in fact purchasing the precise asset rather than using leverage anyhow you will not get hit with these fees but these charges are if you’re utilizing leverage 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 enter into the help area this isn’t the over night costs 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 and that just uses as i stated to cfds there are some service charges obviously depending on what you are buying too this is on your own so keep that in mind however complete fees are totally within their assistance info all right and we discussed in addition to complimentary to deposit in however there’s a 5 dollar charge if you wish to withdraw from anything whether it’s been cfds regular commodity stock shares everything there’s that 5 dollar withdrawal cost now another thing to call it as i’ve said copy trading and copy portfolios are two various methods of in fact utilizing these copy operates they don’t have any additional fees on top of the normal fees that

exist now what you need to bear in mind though is these possibly managed by other people completely or sometimes have developed portfolios you have actually got a real person doing the management you have to ensure you choose the person that’s right for you much like any type of work this is your financial assets so we absolutely require to make certain it’s the ideal person for us prior to we copy them so the first things i would call it if you do wish to use this function we have actually got a number of various choices for us to start with if you’re brand new to investing i want to draw your attention to this within you have the choice to invest real money or a virtual platform virtual means 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 require to put in your charge card information or anything you can basically have this virtual portfolio simulate as if you are using your own money however in fact buy pretend buy copy individuals whatever you like if you’re not

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feeling comfortable with using your real cash possibly this is an excellent alternative for you again to evaluate the theories okay you might want to purchase tesla or apple or this etf why not use the virtual option as a way to sort of safe have fun with it clearly you may have missed out on gains and losses throughout that time naturally if you had actually invested your genuine money it enables you to construct confidence understand the platform so that’s one alternative for you then next week and i’m going to return 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 remember prior to you choose someone that you’re going to copy or a portfolio you’re going to copy make certain you comprehend what your risk profile is now what do i indicate by that certainly 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 means am i all right with potentially losing a great quantity of this financial investment or gaining as

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well now keep in mind whatever is downs and ups you will make money you’ll lose cash that’s why they make the statistic 75 individuals will lose cash but that similarly indicates they’ll lose eventually in their journey certainly people do generate income also and i’ve got videos everything about how you can ensure you’re one of individuals to in fact make money however in this circumstance make certain you research your threat level would you be all right providing your cash to another person which is effectively what you’re doing and trusting them make certain you understand what they’re buying totally if you’re somebody who isn’t wishing to be that dangerous don’t pick someone who’s entirely into crypto or currency conversion think about it you ‘d probably desire a backbone of strong commodities

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like gold or perhaps oil plus more standard etfs and index funds you might 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 actually utilize this too really easily over here you can copy people now it will offer you a great deal of choices and you can use the system to in fact search for someone that you fancy in fact following so let’s see perhaps we desire someone from unified kingdom um who invests in 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 everyone who has actually met that requirements and it does provide you a risk element as well so it tends to be the higher the number the more riskier they are with their stock investing now certainly there are a number of people that have quite high returns

keep in mind it resembles 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 simple as clicking the copy button and off you go and then you know ask you to confirm are you okay with this and off you go now another method to really deep dive if we click this person for instance ruby mza as an example you can actually deep dive into what is she actually buying so let’s go 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 absolutely like kind of into those blue box and the tech industry she’s got a few of mine actually that i invest in too which is excellent so really for me understanding what i like to invest in my specific stocks and shares she would resonate with me she’s got a great spread in tech business that appears to be what she prefers she’s also got a little bit more um of the kind of main food business and you’ve got you understand pharmaceutical and production companies as that. How To Use Etoro Open Book.

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