On this post you’ll find the answer to Ken Baggett Trading Strategy Forex….Concerns that i hear from new investors what if you’re brand new to investing you just don’t wish to choose what you really wish to invest and you want somebody to do it for you there’s only a couple of manner ins which that can happen the firstly you can hire a financial investment portfolio supervisor they’ll usually charge a rather a high premium to do that perhaps one or two percent of your revenues 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 keep in mind this platform is quite advanced you can do cfds which naturally cfds are methods of investing
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with not really having the full amount of capital so with anything that you’re discovering please do study the platform do not just assume because i utilize it that you can utilize it right away do some due diligence have a little experiment with it even invest with virtual money they give that alternative too so you really 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 obviously your capital is at risk this is investing we’re doing you’re investing in real business if you select to in this specific video we’re speaking about how to copy other people’s investments with your cash so obviously your capital is at danger and we need to bear that in mind do not just do something because that person has said they’ve made earnings 14 months in a row purchase these choices because you believe is the right ones for you and that 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 belongs to social trading which is one aspect that is most likely.
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well-known for it’s the option to see what other traders are doing extraordinary we don’t usually get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading and so that means with our cash we can really state i want to do exactly what that trader is doing or match that specific portfolio of options and generally each time they make a trade they buy they sell whatever they do your cash will be simulated with it so that indicates if for instance 10 of their financial investment portfolio remains in tesla guess what you’ll now be investing 10 of your money in so we’re going to also cover is the charges included really vital you understand what are the expenses 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 a few of the zero cost websites then may not charge you for in fact buying and selling etfs or funds individual products private stocks.
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there’ll be fees on other parts maybe it’s our fx rate when you’re altering from uk to u.s dollars there’s all kinds 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 buying copy trading or copy portfolios and finally some best recommendations finest practices if you are thinking of this as a tool whether you begin your journey or your advanced financier so let’s start with fees truly important to comprehend these now on there’s a number of fees there isn’t costs to do with in fact buying and selling okay so commission charges are complimentary however there are a number of other charges the very first one is withdrawal charges so you can obviously put cash in now if you remain 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 on however when you wish to withdraw your money so you sell your shares you sell your products whatever you’re selling the minimum amount 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 ensure that i’m only withdrawing when i absolutely need to now you might say fine that’s rather costly and i get that but it’s all to do with how they run their platform they need to charge fees someplace and withdrawal charges are just one of those alternatives that they have a lot of platforms certainly are complimentary 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 as soon as every 6 months you know depends completely how you’re investing but that is a cost to bear in mind the 2nd cost that i’ve touched upon is that conversion charge now with you’re dealing in us dollars only there’s not an alternative to purchase in euros or uk which’s fine 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 cost now when you utilize anyone so if you’re utilizing trading two and 2 open market anybody this is basic they have i expect stuck to whatever cost they charge for that conversion rate you kind 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 haggle with them you can’t go to the bank and say give me us dollars rather you need to pay their charges now the great aspect of however when you have actually converted your cash you do not have to invest it right away that dollar worth can being in your portfolio as money dollars for as long as you like so that means the preliminary day that you purchase or convert your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any extra charges so that’s really excellent using that part of their site won’t definitely limit you in any way nevertheless we need to be aware of 2 other charges the first being what’s called spread charges all right and i’m going to reveal you what i suggest on now a spread cost as i’m going to reveal you
on is essentially the distinction that belongs to the investment platform in between the buy cost and the list price alright it’s their premium on doing both those 2 actions now tesla if you can see on this part of the site today tesla’s dollar value 599 per share in tesla that actually implies 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 again so the present rate of tesla is the value of a share what’s called spread costs is the difference then actually to purchase that share on the platform and you’ll find this all over this is another manner in which they make a small amount of profit from you whenever you do a buyer’s share so keep that in mind clearly it’s more pricey to buy than it is to offer so they’re going to offer you less back with your sale and you state all right 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 want to sell it and that is how they make a bit of cash on those spread out charges it’s usually extremely small it could be a matter of pens matter of cents in there however that’s one place every investment company will once again make a little bit cash now the last accomplishment is called an
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overnight charge now this is actually essential if you’re in fact using cfds yourself too an overnight charge is when you’re not doing that buy sell deal in the same day okay there’s then an overnight fee charged or even if you go from the friday to the monday before cruising a weekend charge now this only applies to cfds so if you’re in fact buying out the etf the stock the commodity and using time one take advantage of which implies you’re really purchasing the exact property instead of using take advantage of anyway you will not get hit with these fees but these charges are if you’re using take advantage of and cfds and then you’re going to have these fees if you’re not buy offering in the very same day so let’s say if you enter into the help area this isn’t the over night charges info you can see precisely the breakdown and it’ll tell you what are the charges what are the fees then for when you’re doing overnight or you’re doing over weekends and that only applies as i said to cfds there are some surcharges of course depending on what you are purchasing too this is on your own so keep that in mind but complete fees are totally within their assistance details fine and we spoke about as well as totally 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 charge now another thing to call it as i have actually said copy trading and copy portfolios are 2 different methods of actually utilizing these copy operates they do not have any extra charges on top of the regular costs that
are there now what you require to bear in mind though is these potentially handled by other people totally 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 kind of work this is your financial possessions so we definitely require to ensure it’s the right 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 various options for us to start with if you’re brand new to investing i wish to draw your attention to this within you have the alternative to invest genuine cash 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 need to put in your credit card details or anything you can essentially have this virtual portfolio imitate as if you are utilizing your own money however really buy pretend buy copy individuals whatever you like if you’re not
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feeling comfy with using your real money perhaps this is an excellent alternative for you again to check the theories fine you might wish to buy tesla or apple or this etf why not utilize the virtual alternative as a way to type of safe play with it obviously you may have lost out on gains and losses throughout that time of course if you had invested your genuine money it enables you to build confidence understand 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 remember prior to you select somebody that you’re going to copy or a portfolio you’re going to copy make certain you understand what your threat profile is now what do i imply by that obviously for me i’m investing long term and they tend to say the longer you’re leaving your financial investments the riskier you can be run the risk of just implies am i alright with potentially losing an excellent quantity of this financial investment or getting as
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well now keep in mind everything is ups and downs you will make money you’ll lose cash that’s why they make the fact 75 individuals will lose cash however that equally implies they’ll lose at some point in their journey certainly individuals do earn money too and i’ve got videos all about how you can ensure you’re one of the people to actually make money but in this situation ensure you research your risk level would you be fine offering your cash to someone else which is successfully what you’re doing and trusting them ensure you comprehend what they’re buying fully if you’re somebody who isn’t wanting to be that risky do not pick somebody who’s entirely into crypto or currency conversion consider it you ‘d most likely want a backbone of strong products
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like gold or perhaps oil plus more traditional etfs and index funds you may not desire some up-and-coming single stocks in your portfolio do the very same with who you’re following now as i say you can actually use this too actually quickly over here you can copy people now it will offer you a lot of choices and you can use the system to really look for somebody that you expensive really following so let’s see possibly we want somebody from joined kingdom um who invests in let’s see who does etfs they’ve acquired at least 10 yeah that sounds reasonable that sounds an excellent quantity and i can find everybody who has actually fulfilled that criteria and it does provide you a risk aspect also so it tends to be the greater the number the more riskier they are with their stock investing now certainly there are a variety of people that have rather high returns
bear in mind it resembles anything to do with the news or forecasts of the future this does not indicate somebody will make 56 for you for the next 12 months they might make four or minus 50 there’s no chance to ensure so do keep that in mind and as basic as clicking the copy button and off you go and then you understand ask you to verify are you alright with this and off you go now another method to in fact deep dive if we click this person for instance ruby mza as an example you can in fact deep dive into what is she actually buying 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 excellent to know ibm paypal yep she’s certainly like type of into those blue box and the tech industry she’s got a few of mine really that i invest in too which is great so in fact for me knowing what i like to purchase my private stocks and shares she would resonate with me she’s got an excellent spread in tech companies that appears to be what she chooses she’s also got a bit more um of the sort of main food companies and you’ve got you understand pharmaceutical and production business as that. Ken Baggett Trading Strategy Forex.