Got an offer from a Forex account manager, highly sceptical about this whole thing
So I'm 19 and a university student, I got a DM from this "account manager" from Forex, who went into a long spiel about the merits of trading, and so on. From what I've read in this sub, around 90% of people who trade their money through Forex lose more money than they invest. The only way to be part of the successful 10% is to basically study how the stock market works, which takes months (if not years) to get the hang of. What do you guys think? Is my judgement accurate?
Centre Forex account manager performance is no guarantee of future success, the reason why you must continue to review and monitor the results of your chosenForex account managerover time. Remember that you are the one in Forex account manage charge, and you have the power to change, if and when a Forex account manager does not live up to your expectations.
My name is Andrew Host and I am the CEO & Founder of the FXSyndicate.org In the past 12 years I have worked with more than 10000 Forex traders, investors and interested individuals who were seeking advice, reliable services and methods on how to better perform on the Forex market. Let me tell you... The industry is very diverse in all its aspects, it's like a hydra with many services and individuals using and providing them, all seeking to make profits. The main players are the Forex brokers and the Forex traders, after which comes to additional services like Forex signals, Forex account management, news and indicators providers. All these are players interacting with each other so the connections are multiple, but all leading to the final point: the Forex trader. He is the final piece of the puzzle, the one that benefits or not. More than 90% of the Forex traders are losing money and this is due to a certain number of aspects. I will, based on my own experience and views, give some examples of genuine investors and advices for those who are not. 1. The Broker There are 100+ Forex brokers operating in the industry, differentiated by 2 main aspects: Market Makers or ECN / STP. The investor must know what these 2 means and he should conclude that a Market Maker will always play against him. A responsible investor will not deposit his money into an offshore, unregulated or poorly regulated broker, because the chances of him seeing those money again are very low. After the ESMA rules taking into action, almost all reliable brokers have a cap at 1:30 leverage. Still there are unregulated and offshore brokers who will let you use even 1:1000. The mirage is strong and many will fall for it. ADVICE: Never use an offshore or unregulated broker. There are only a 3, 4 really reliable brokers in the industry! 2. The Equity Before making any investment decision, any responsible trader should know and accept the fact that you need money to make money. I have seen thousands of individuals seeking to make unrealistic profits with a low $500 account. That won`t happen unless you are a professional and you will build it step by step, with very rigid rules of risk management, over a long period of time. Of course, you will see advertising claiming to do that on a daily basis, but that is just a scamming method and unfortunately many fall for it. ADVICE: Never start with a low balance account. A $5000 initial investment would be a healthy start! 3. Investor qualities What I call a good investor material is one that knows how to put patience above all. Emotions in trading are a real thing and you need to manage your instincts very well, otherwise they will manage you and the results will most likely have a negative impact on your investment. If you can not stand to see a certain degree of risk or draw-down in an open session, Forex trading might not be for you. I have seen traders and managers acting reckless when seeing negative sessions, raising the risk by quite a lot hoping to recover the lost funds and heading straight to margin call. The investor must be educated with strong financial principles, to understand the risks involved and the methods to handle and using them to generate consistent profits. ADVICE: Never invest money you can not afford to lose and never trade money based on emotions and primary instincts! 4. The strategy When you place your money in the market we must assume that you already have a very good understanding of it and you already know that unrealistic gains does not happen overnight. You must plan your investment for medium - long term. A $5000 investment can reach a few millions in a few years. Of course it will take you a few years, but in a few years you will either be a millionaire or short of a $5000 amount. As a genuine investor you will always build capital slowly and responsible and once you reach a certain level you can diversify it and split it into multiple investments based on multiple strategies, rather than risking everything from the start. ADVICE: Do not expect unrealistic gains overnight with a low investment. Plan it carefully and responsibly on long term! 5. Professional management Rather than losing his money on the markets by failing to understand that it takes years and years to master a profitable strategy, a responsible investor should look for professional account management if he is really decisive on investing in the Forex market. As an investor willing to let someone else manage your money, you must always get all your facts about that someone. Ask for performance proofs, analyze the way they trade, their business practice, the risk management strategy and the consistency in delivering profitable outcomes. Anything short of that, you might just do yourself a favor and stay away. ADVICE: Always let someone manage your investment portfolio only if you are 100% convinced that your money are on good hands! REMEMBER: Forex trading is a risky affair and should be done only by those who really understand all the key aspects of this industry. Many individuals do not understand how important this is and it results in them losing their money. Get educated, hold your emotions, choose the best environments for trading and take care of your profits! There are people on the Forex market that embodied unhealthy principles because they were fed with all the lies and unrealistic goals for so many time that they have reached a point where they highly believe the million dollar trade is just around the corner. It`s not! 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We are always ready to manage your Investments with calculated risk and Good returns, we will follow your account 24/7.Managed Forex account servicesis a trading account opened in your name with our recommended brokers and traded by our professional Forex account manager.
Choosing The Right Managed Forex Account http://forexglobalsolutions.com Have you heard about the term Forex I'm sure you do. Many people agree that Forex trading is quite complicated that is the reason traders felt the need of the managed Forex account. It is not as difficult like rocket science. Many investors prefer to possess some education of the Forex market to achieve success. With the presence of managed Forex accounts, investors now only need to choose the best one for them to trade. If you are one of them who are new to trading you can check Best Performing Forex Managed Accounts online. In the best-managed Forex account investor will hire a professional to perform the trading on him/her behalf. These investors are just beginners in trading and do not have much time for trading. Forex Account Management Services operated by professionals. They don't have the needed time to learn the tricks of the trade and the best part of Forex managed account is, in this account hired professional manage everything for investor. A managed Forex account works like an opportunity in which an investor learn while earn. Many new investors like Forex managed account because they learn so many new tricks of trading. Forex Wealth Management is not as difficult as it sounds, little education about Forex trading can do wonders. Forex managed account is also perfect for those investors who want to invest small amount of money as a hobby because they can rely on a professional for trading. http://forexglobalsolutions.com
The Best Kept Secrets About Managed Forex AccountsManaged Forex Accounts If you want to enjoy all the benefit of trading forex, but you’re not ready to take on the responsibility of live trading, a managed forex account is for you. Managed forex accounts mean that a manager will handle trading for you. A manager is like an investment advisor, except that in forex, the manager will simply make trades without discussing them with you – there’s no time in the forex market for the kind of discussion that goes on between an investment advisor and a client about a potential stock market investment. There is a great deal of variety of terms in managed forex accounts, and you should look carefully at any contract that is proposed by a broker or other professional. If your manager is located where you live, he/she must be licensed – never work with a local manager who is not! But, if your manager is in London, and you’re in Poughkeepsie, that manager is not legally required to have a license.Bu..... Continue reading at: https://fxtradingpro.com/the-best-kept-secrets-about-managed-forex-accounts/
The way to find the best forex broker for managed accounts is to find an account manager you want to work with and then ask them which well-regulated broker he prefers to use. The manager then shares the profits in terms of percentages across all the managed accounts. On the other hand, the Multi-Account Money Manager (MAMM) account operates just like the PAMM account but affords more flexibility to the manager in terms of trade allocation. How forex managed accounts work The general rule of thumb when assessing the performance of a forex account manager is to use a two-year time horizon for comparative purposes. Volatility, political turmoil, and economic events typically average out over two years. When you do have review meetings with your account manager or receive your reports from the pooled fund, you will ... Forex Managed Account is a forex account in which a money manager trades the account on a client's behalf for a fee. Managed forex accounts are similar to.. Not ALL forex managed accounts are bad though. Some do have many years of trading experience and are well-qualified in trading real money, but that’s more the exception than the norm. Some trading platforms even offer an option to let traders act as managers using the account structure of the broker.
FOREX SCAMS By ACCOUNT MANAGERS A.k.A Master Trader - YouTube
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