How Do I Set Up My Electrum Wallet And Connect It With Etoro – Ask Mary Traders

We get htis a lot on our site the answer to How Do I Set Up My Electrum Wallet And Connect It With Etoro….Questions that i speak with brand-new financiers what if you’re brand new to investing you just don’t wish to choose what you actually want to invest and you want someone to do it for you there’s just a number of ways that that can occur the first of all you can hire a financial investment portfolio supervisor they’ll generally charge a quite a high premium to do that perhaps one or two percent of your earnings will go to them the other thing is of course you can buy mutual funds specific funds are developed 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 as well now if you’re brand new to a total please remember this platform is quite sophisticated you can do cfds which naturally cfds are methods of investing

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with not really having the total of capital so with anything that you’re finding out about please do study the platform don’t just assume since i utilize it that you can utilize it immediately do some due diligence have a little play around with it even invest with virtual money they give that alternative too so you in fact get used 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 naturally your capital is at danger this is investing we’re doing you’re buying real companies if you choose to in this particular video we’re speaking about how to copy other individuals’s investments with your money so clearly your capital is at threat and we need to bear that in mind do not simply do something since that individual has stated they have actually made revenue 14 months in a row buy these options since you believe is the right ones for you which being said let’s dive straight 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 probably.

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famous for it’s the choice to see what other traders are doing amazing 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 implies with our money we can in fact say i want to do precisely what that trader is doing or match that specific portfolio of choices and generally each time they make a trade they purchase they sell whatever they do your cash will be imitated with it so that means if for instance 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 costs included actually crucial you understand what are the costs of this now with any platform there will be some expense to undoubtedly these are genuine business that are investing they’re doing the purchasing the selling for you there’s going to be charges included and even some of the no charge sites then may not charge you for actually buying and selling etfs or funds private products 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 kinds of fees associated so do your due diligence and i’m going to reveal you the costs with in particular in this video the next would be things to know prior to you in fact start buying copy trading or copy portfolios and finally some best suggestions best practices if you are considering this as a tool whether you begin your journey or your more advanced financier so let’s kick off with costs actually crucial to understand these now on there’s a couple of costs there isn’t charges to do with actually buying and selling fine so commission costs are free however there are a number of other charges the very first one is withdrawal costs so you can clearly 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 however when you want to withdraw your cash so you sell your shares you sell your commodities whatever you’re selling the minimum quantity you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me naturally knowing that i’m going to make certain that i’m just withdrawing when i absolutely require to now you may 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 costs somewhere and withdrawal costs are simply one of those alternatives that they have a great deal of platforms clearly are 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 once every six months you understand depends completely how you’re investing however that is a cost to keep in mind the second charge that i have actually touched upon is that conversion cost now with you’re handling us dollars only there’s not a choice to buy in euros or uk which’s fine that fits me.

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a lot of my stocks are us dollar stocks anyhow or the etfs that i’m buying and even some crypto so i’m excellent with that we have what’s called the fx currency conversion charge now when you use anyone so if you’re utilizing trading two and two free trade anybody this is standard they have actually i expect stuck to whatever charge they charge for that conversion rate you type of have to accept you know if you wish to use their platform go from uk to us then that conversion fee 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 bargain with them you can’t go to the bank and say give me us dollars rather you need to pay their charges now the fantastic aspect of however when you’ve transformed your money you do not have to invest it right now that dollar value can being in your portfolio as cash dollars for as long as you like so that suggests the preliminary day that you buy or transform your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any extra costs so that’s really good using that part of their website will not certainly limit you in any way nevertheless we have to know two other fees the very first being what’s called spread charges fine and i’m going to show you what i imply on now a spread fee as i’m going to show you

on is essentially the distinction that is part of the financial investment platform between the buy cost and the sale price all right it’s their premium on doing both those two actions now tesla if you can see on this part of the site today tesla’s dollar value 599 per share in tesla that in fact suggests that when you want to buy or sell as you can see it’s not the cost you’re seeing up here let me show you that again so the existing cost of tesla is the value of a share what’s called spread charges is the distinction then really to buy that share on the platform and you’ll find this everywhere this is another way that they make a percentage of make money from you whenever you do a buyer’s share so keep that in mind obviously it’s more pricey to purchase than it is to offer so they’re going to provide you less back with your sale and you say okay well why does that occur it simply does that is the nature of a lot of platforms out there there’s a difference between if you’re buying it then you wish to sell it and that is how they make a little bit of cash on those spread fees it’s typically exceptionally small it could be a matter of pens matter of cents in there however that’s one location every investment company will again make a little bit money now the last feat is called an

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overnight cost now this is really important if you’re really using cfds yourself also an over night cost is when you’re refraining from doing that buy offer transaction in the very same day all right there’s then an over night cost charged and even if you go from the friday to the monday before sailing a weekend cost now this just applies to cfds so if you’re in fact buying out the etf the stock the product and using time one utilize which suggests you’re actually buying the exact property instead of utilizing utilize anyhow you will not get hit with these costs however these charges are if you’re utilizing utilize and cfds and then you’re going to have these costs if you’re not buy selling in the exact same day so let’s state if you enter into the aid section this isn’t the over night costs details you can see exactly the breakdown and it’ll inform you what are the charges what are the fees then for when you’re doing overnight or you’re doing over weekends and that just applies as i said to cfds there are some added fees obviously depending on what you are investing in as well this is on your own so keep that in mind but complete charges are entirely within their assistance info all right and we discussed along with complimentary to deposit in but there’s a five dollar charge if you want to withdraw from anything whether it’s been cfds regular commodity stock shares everything there’s that five dollar withdrawal charge now another thing to call it as i’ve stated copy trading and copy portfolios are 2 various ways of really using these copy operates they don’t have any extra fees on top of the typical charges that

exist now what you require to bear in mind though is these potentially handled by other people completely or sometimes have actually created portfolios you have actually got a genuine person doing the management you need to make sure you choose the individual that’s right for you similar to any kind of work this is your monetary assets so we absolutely require to make certain it’s the right person for us prior to we copy them so the first things i would call it if you do wish to utilize this function we have actually got a couple of various options for us first off if you’re brand new to investing i wish to draw your attention to this within you have the choice to invest real cash or a virtual platform virtual ways i think you get yep a hundred thousand dollars to play with and it’s not real money that you’re investing you won’t require to put in your credit card details or anything you can essentially have this virtual portfolio imitate as if you are utilizing your own cash however really purchase pretend buy copy people whatever you like if you’re not

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feeling comfortable with using your real cash maybe this is a great choice for you once again to evaluate the theories fine you might want to buy tesla or apple or this etf why not use the virtual choice as a way to type of safe play with it undoubtedly you might have missed out on gains and losses throughout that time naturally if you had invested your real cash it allows you to build self-confidence understand the platform so that’s one alternative for you then next week and i’m going to return to my real portfolio here now we’re going to deep dive actually how to copy individuals and copy portfolios now here’s something to keep in mind prior to you choose somebody that you’re going to copy or a portfolio you’re going to copy ensure you understand what your danger profile is now what do i suggest by that certainly 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 an excellent amount of this financial investment or acquiring as

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well now remember whatever is downs and ups you will generate income you’ll lose money that’s why they make the fact 75 people will lose money however that equally indicates they’ll lose eventually in their journey undoubtedly individuals do earn money as well and i have actually got videos everything about how you can make certain you’re one of individuals to really make money however in this circumstance ensure you research your threat level would you be all right providing your money to someone else which is effectively what you’re doing and trusting them make certain you comprehend what they’re investing in fully if you’re someone who isn’t wishing to be that risky don’t pick somebody who’s completely into crypto or currency conversion consider it you ‘d probably desire a backbone of strong products

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like gold or even oil plus more conventional etfs and index funds you may not desire some up-and-coming single stocks in your portfolio do the exact same with who you’re following now as i state you can in fact utilize this too truly quickly over here you can copy people now it will offer you a great deal of choices and you can use the system to really look for somebody that you fancy actually following so let’s see perhaps we want somebody from united kingdom um who invests in let’s see who does etfs they have actually gotten at least 10 yeah that sounds reasonable that sounds a great quantity and i can find everybody who has met that criteria and it does offer you a danger element too so it tends to be the higher the number the more riskier they are with their stock investing now undoubtedly there are a number of individuals that have quite high returns

remember it’s like anything to do with the news or predictions of the future this does not mean someone will make 56 for you for the next 12 months they might make 4 or minus 50 there’s no other way to guarantee so do keep that in mind and as basic as clicking the copy button and off you go and after that you know ask you to confirm are you alright with this and off you go now another way to really deep dive if we click on this person for instance ruby mza as an example you can actually 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 great to understand ibm paypal yep she’s definitely 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 understanding what i like to buy my specific stocks and shares she would resonate with me she’s got a good spread in tech business 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 companies as that. How Do I Set Up My Electrum Wallet And Connect It With Etoro.

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