We get this a lot on our site and the answer to Etoro Websocket Python Example….Concerns that i hear from new financiers what if you’re brand new to investing you merely do not wish to choose what you really want to invest and you desire someone to do it for you there’s just a number of ways that that can occur the to start with you can work with a financial investment portfolio supervisor they’ll generally charge a quite a high premium to do that possibly one or two 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 also now if you’re brand new to a total please bear in mind this platform is rather advanced you can do cfds which naturally cfds are ways of investing
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with not in fact having the total of capital so with anything that you’re learning about please do study the platform do not simply presume since i utilize it that you can use it immediately do some due diligence have a little play around with it even invest with virtual money they give that option also so you really get utilized to the structure of the site and after that when you’re ready to use your own money to invest you can do so now i will disclaim obviously your capital is at danger this is investing we’re doing you’re purchasing genuine business if you pick to in this specific video we’re discussing how to copy other people’s financial investments with your cash so undoubtedly your capital is at threat and we need to bear that in mind do not simply do something because that person has stated they’ve made revenue 14 months in a row invest in these choices because you think is the ideal ones for you which 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 element that is probably.
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famous for it’s the option to see what other traders are doing extraordinary we do not normally get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading therefore that suggests with our money we can actually state i want to do precisely what that trader is doing or match that precise portfolio of options and basically every time they make a trade they purchase they sell 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 also cover is the fees included truly crucial you understand what are the expenses of this now with any platform there will be some cost to certainly these are genuine business that are investing they’re doing the buying the selling for you there’s going to be charges included and even some of the no cost websites then might not charge you for really buying and selling etfs or funds individual commodities private 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 show you the charges with in particular in this video the next would be things to understand before you in fact start purchasing copy trading or copy portfolios and lastly some best advice best practices if you are thinking about this as a tool whether you start your journey or your advanced investor so let’s kick off with fees truly important to comprehend these now on there’s a number of charges there isn’t costs to do with really buying and selling fine so commission costs are totally free however there are a number of other fees 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 immediately converted into us dollars and i’ll cover a little point about that later however when you wish to withdraw your money so you offer your shares you offer your commodities 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 just withdrawing when i definitely need to now you might say okay that’s quite costly and i get that however it’s all to do with how they run their platform they need to charge fees someplace and withdrawal costs are simply among those alternatives that they have a lot of platforms obviously are free to do such things has this five dollar charge so in my eyes make your withdrawals mostly it can be maybe even once a year once every six months you know depends completely how you’re investing but that is a cost to remember the second charge that i have actually touched upon is that conversion cost now with you’re handling us dollars just there’s not an alternative to purchase in euros or uk and that’s great that fits me.
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a lot of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing and even some crypto so i’m good with that we have what’s called the fx currency conversion fee now when you utilize anyone so if you’re using trading two and 2 open market anybody this is basic they have actually i suppose stuck with whatever fee they charge for that conversion rate you sort of need to accept you understand if you wish to utilize their platform go from uk to us then that conversion fee exists what are they in fact providing you in terms of 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 state provide me us dollars instead you have to pay their fees now the fantastic feature of however when you’ve transformed your cash you do not need to invest it right away that dollar value can being in your portfolio as money dollars for as long as you like so that indicates the preliminary day that you purchase or transform your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any additional fees so that’s truly great utilizing that part of their website will not certainly restrict you in any way however we need to be aware of two other costs the first being what’s called spread fees alright and i’m going to reveal you what i suggest on now a spread fee as i’m going to show you
on is essentially the distinction that is part of the investment platform in between the buy rate and the sale price fine it’s their premium on doing both those two actions now tesla if you can see on this part of the site right now tesla’s dollar worth 599 per share in tesla that actually implies that when you wish to offer or buy as you can see it’s not the cost you’re seeing up here let me show you that again so the present cost of tesla is the value of a share what’s called spread charges is the difference then really to purchase that share on the platform and you’ll discover this everywhere this is another way that they make a small amount of make money from you every time you do a buyer’s share so keep that in mind clearly it’s more expensive to buy than it is to offer so they’re going to provide you less back with your sale and you state okay well why does that happen it simply 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 costs it’s typically extremely little it could be a matter of pens matter of cents in there but that’s one location every investment firm will again make a bit cash now the last feat is called an
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over night cost now this is really important if you’re in fact utilizing cfds yourself too an overnight charge is when you’re not doing that buy sell transaction in the very same day okay there’s then an overnight cost charged and even if you go from the friday to the monday prior to sailing a weekend charge now this only applies to cfds so if you’re actually buying out the etf the stock the product and utilizing time one utilize which indicates you’re really purchasing the precise property rather than utilizing leverage anyway you won’t get hit with these fees however these fees are if you’re utilizing leverage and cfds and then you’re going to have these fees if you’re not buy selling in the same day so let’s say if you go into the assistance area this isn’t the overnight fees 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 over night or you’re doing over weekends which just uses as i said to cfds there are some additional charges of course depending upon what you are investing in as well this is on your own so keep that in mind however full costs are totally within their help details okay and we talked about as well as free to deposit in however there’s a five dollar charge if you wish to withdraw from anything whether it’s been cfds regular commodity stock shares whatever there’s that five dollar withdrawal cost now another thing to call it as i have actually stated copy trading and copy portfolios are 2 different ways of actually using these copy operates they don’t have any additional charges on top of the normal costs that
are there now what you require to remember though is these possibly managed by other people completely or sometimes have created portfolios you’ve got a real person doing the management you need to make sure you pick the individual that’s right for you much like any line of work this is your financial properties so we absolutely need to make certain it’s the best 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 choices 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 real cash or a virtual platform virtual methods i believe you get yep a hundred thousand dollars to have fun with and it’s not real cash that you’re investing you will not require to put in your charge card information or anything you can basically have this virtual portfolio imitate as if you are utilizing your own cash but really buy pretend buy copy people whatever you like if you’re not
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feeling comfy with utilizing your genuine cash maybe this is an excellent choice for you once again to check the theories alright you may wish to purchase tesla or apple or this etf why not utilize the virtual alternative as a method to type of safe have fun with it obviously you may have lost out on gains and losses throughout that time of course if you had invested your real cash it enables you to build 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 really 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 understand what your danger profile is now what do i indicate by that clearly 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 suggests am i okay with potentially losing a great quantity of this investment or getting as
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well now remember whatever is ups and downs you will generate income you’ll lose money that’s why they make the statistic 75 individuals will lose money but that similarly suggests they’ll lose at some time in their journey undoubtedly individuals do generate income too and i have actually got videos all about how you can ensure you are among individuals to really make money but in this circumstance make sure you research your threat level would you be alright providing your cash to another person which is effectively what you’re doing and trusting them make certain you understand what they’re purchasing totally if you’re someone who isn’t wanting to be that risky do not choose someone who’s entirely into crypto or currency conversion consider it you ‘d probably want a foundation of strong products
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like gold and even oil plus more traditional etfs and index funds you may not want some up-and-coming single stocks in your portfolio do the same with who you’re following now as i state you can really use this too truly easily over here you can copy individuals now it will give you a lot of choices and you can use the system to actually look for somebody that you fancy actually following so let’s see possibly we want somebody from joined kingdom um who purchases let’s see who does etfs they’ve gained a minimum of 10 yeah that sounds reasonable that sounds an excellent amount and i can discover everyone who has met that criteria and it does give you a threat element also so it tends to be the higher the number the more riskier they are with their stock investing now clearly there are a number 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 imply someone will make 56 for you for the next 12 months they could make 4 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 know ask you to verify are you fine with this and off you go now another method to really deep dive if we click on this person for example ruby mza as an example you can really deep dive into what is she actually buying so let’s go into portfolio and you can see she’s quite heavy into microsoft mastercard amazon she likes her tech a little bit so that’s great to understand ibm paypal yep she’s certainly like sort of into those blue box and the tech market she’s got some of mine actually that i purchase too which is excellent so actually for me knowing what i like to invest in my specific stocks and shares she would resonate with me she’s got a great spread in tech companies that seems to be what she chooses she’s likewise got a little bit more um of the kind of main food business and you’ve got you understand pharmaceutical and production business as that. Etoro Websocket Python Example.
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