Jay Smith Etoro – Turtles of Trading

On this post you’ll find the answer to Jay Smith Etoro….Questions that i speak with brand-new financiers what if you’re brand new to investing you merely do not wish to decide what you actually want to invest and you want someone to do it for you there’s just a couple of manner ins which that can occur the firstly you can employ a financial investment portfolio manager they’ll typically charge a rather a high premium to do that perhaps one or two percent of your profits will go to them the other thing is of course you can buy mutual funds specific funds are developed 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 sophisticated you can do cfds which of course cfds are methods of investing

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with not in fact having the full amount of capital so with anything that you’re learning about please do study the platform do not 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 money they consider that choice too so you in fact 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 of course your capital is at danger this is investing we’re doing you’re buying real business if you pick to in this specific video we’re talking about how to copy other people’s financial investments with your money so undoubtedly your capital is at risk and we have to bear that in mind do not just do something because that person has actually said they’ve made profit 14 months in a row buy these options since you believe is the right ones for you and that being stated let’s dive straight in [Music] so 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 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 advantage is these copy portfolios are copy trading therefore that means with our cash we can actually state i wish to do precisely what that trader is doing or match that specific portfolio of alternatives and essentially whenever they make a trade they purchase they offer whatever they do your cash will be imitated 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 money in so we’re going to also cover is the costs involved really critical you understand what are the expenses of this now with any platform there will be some expense to clearly these are real business that are investing they’re doing the buying the selling for you there’s going to be charges included and even a few of the no charge sites then might not charge you for actually buying and selling funds or etfs individual commodities individual stocks.

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there’ll be charges on other parts perhaps it’s our fx rate when you’re altering from uk to u.s dollars there’s all sort of fees 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 understand prior to you really start investing in copy trading or copy portfolios and finally some best suggestions finest practices if you are thinking about this as a tool whether you begin your journey or your advanced investor so let’s begin with charges actually important to understand these now on there’s a number of fees there isn’t fees to do with in fact buying and selling all right so commission fees are free however there are a number of other charges the first one is withdrawal costs so you can certainly put money in now if you’re in the uk we put our uk money.

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and it’s instantly converted into us dollars and i’ll cover a little point about that later but when you want to withdraw your cash so you offer your shares you sell your products whatever you’re offering the minimum quantity you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me of course knowing that i’m going to make sure that i’m only withdrawing when i absolutely require to now you might state all right 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 fees are just among those choices that they have a great deal of platforms clearly are totally free to do such things has this 5 dollar charge so in my eyes make your withdrawals largely it can be perhaps even once a year when every 6 months you know depends entirely how you’re investing however that is a fee to keep in mind the 2nd cost that i’ve touched upon is that conversion charge now with you’re handling us dollars only there’s not an alternative to purchase 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 purchasing and even 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 using trading 2 and 2 open market anyone at all this is standard they have i expect stuck to whatever charge they charge for that conversion rate you sort of need to accept you know if you wish to use their platform go from uk to us then that conversion cost is there what are they in fact giving you in terms of 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 give me us dollars rather you have to pay their charges now the great feature of however when you’ve transformed your cash you do not need to invest it right now that dollar value can sit in your portfolio as cash dollars for as long as you like so that indicates the preliminary 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 really excellent utilizing that part of their website will not definitely limit you in any way however we have to be aware of two other costs the first being what’s called spread charges alright and i’m going to show you what i indicate on now a spread cost as i’m going to reveal you

on is generally the distinction that belongs to the investment platform in between the buy rate 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 value 599 per share in tesla that in fact indicates that when you want to sell or purchase as you can see it’s not the cost you’re seeing up here let me reveal you that once again so the existing rate of tesla is the worth of a share what’s called spread costs is the difference then actually to purchase that share on the platform and you’ll discover this everywhere this is another manner in which they make a small amount of benefit from you whenever you do a purchaser’s share so keep that in mind certainly it’s more costly to purchase than it is to sell so they’re going to provide you less back with your sale and you state fine well why does that occur 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 wish to offer it and that is how they make a little bit of cash on those spread out charges it’s usually exceptionally little it could be a matter of pens matter of cents in there but that’s one location every investment company will once again make a little bit money now the last feat is called an

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overnight charge now this is truly important if you’re in fact using cfds yourself too an over night cost is when you’re not doing that buy sell transaction in the exact same day all right 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 just applies to cfds so if you’re actually buying out the etf the stock the commodity and using time one leverage which indicates you’re actually buying the specific property instead of utilizing utilize anyhow you won’t get hit with these fees 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 state if you go into the help section this isn’t the over night costs info you can see precisely the breakdown and it’ll tell you what are the charges what are the costs then for when you’re doing overnight or you’re doing over weekends which just applies as i stated to cfds there are some service charges of course depending on what you are purchasing as well this is on your own so keep that in mind but full costs are totally within their help details fine and we discussed in addition to free to deposit in but there’s a five dollar charge if you wish to withdraw from anything whether it’s been cfds typical product stock shares everything there’s that five dollar withdrawal fee now another thing to call it as i’ve stated copy trading and copy portfolios are two various ways of in fact using these copy operates they don’t have any extra charges on top of the typical charges that

are there now what you require to bear in mind though is these possibly handled by other people completely or often have actually developed portfolios you have actually got a real individual doing the management you need to make certain you pick the individual that’s right for you similar to any type of work this is your financial properties so we definitely need to make certain it’s the best individual 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 couple 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 choice to invest real money or a virtual platform virtual means 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 details or anything you can generally have this virtual portfolio mimic as if you are using your own money but in fact buy pretend buy copy individuals whatever you like if you’re not

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feeling comfy with using your genuine cash maybe this is a terrific choice for you once again to evaluate the theories okay you might wish to buy tesla or apple or this etf why not utilize the virtual choice as a way to kind of safe play with it obviously you might have lost out on gains and losses during that time of course if you had invested your genuine 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 go back to my real portfolio here now we’re going to deep dive in fact how to copy people and copy portfolios now here’s something to keep in mind before you select someone 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 obviously for me i’m investing long term and they tend to say the longer you’re leaving your investments the riskier you can be risk just indicates am i all right with potentially losing a good quantity of this financial investment or acquiring as

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well now keep in mind everything is downs and ups you will make money you’ll lose cash that’s why they make the statistic 75 people will lose cash but that equally suggests they’ll lose at some time in their journey undoubtedly individuals do earn money too and i have actually got videos all about how you can make certain you are among the people to really earn money however in this circumstance make sure you research study your risk level would you be alright giving your cash to somebody else which is successfully what you’re doing and trusting them make sure you comprehend what they’re investing in totally if you’re somebody who isn’t wanting to be that dangerous don’t select somebody who’s totally into crypto or currency conversion think about it you ‘d probably desire a backbone of strong commodities

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like gold or even oil plus more conventional etfs and index funds you might not desire some up-and-coming single stocks in your portfolio do the very same with who you’re following now as i state you can in fact utilize this too actually quickly over here you can copy people now it will give you a great deal of choices and you can utilize the system to in fact look for somebody that you elegant actually following so let’s see perhaps we desire somebody from united kingdom um who invests in let’s see who does etfs they’ve gotten at least 10 yeah that sounds fair that sounds an excellent quantity and i can find everyone who has actually fulfilled that criteria and it does give 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 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 predictions of the future this does not indicate someone will make 56 for you for the next 12 months they might make four or minus 50 there’s no other way to guarantee so do keep that in mind and as simple as clicking the copy button and off you go and then you understand ask you to verify are you fine with this and off you go now another method to actually deep dive if we click this person for instance ruby mza as an example you can actually deep dive into what is she really purchasing so let’s go into portfolio and you can see she’s rather heavy into microsoft mastercard amazon she likes her tech a little bit so that’s good to know ibm paypal yep she’s definitely like sort of into those blue box and the tech market she’s got some of mine really that i buy too which is great so in fact for me knowing what i like to purchase my individual stocks and shares she would resonate with me she’s got a good spread in tech companies that seems to be what she chooses she’s also got a little bit more um of the type of main food companies and you have actually got you know pharmaceutical and production companies as that. Jay Smith Etoro.

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