Any advise on managed accounts?

MoneyTec Forums Tools of the Trade Any advise on managed accounts?

This topic contains 4 replies, has 5 voices, and was last updated by  FXGuru 1 year, 9 months ago.

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  • #1611

    chalithuo
    Member
    • 19

    I have not used managed account myself but I have done some research about them and I find them to be very helpful especially for traders with busy schedules and also beginners.

    One thing am sure you can also agree with me is that Forex and binary options trading is quite stressful especially when trading without using any trading robot. In addition to the high risk involved, holding trades until they make the intended profits requires extraordinary patience. Actually, some of the times, the trades end up frustrating you by making losses and it will take real discipline to control the emotions that arise from loosing trades.

    This is where managed accounts come in. Managed accounts are trading accounts where the trader trusts his capital/money to a more experienced trader. You normally deposit money with a in an account but you are not the one trading. You only get the profits and of course at a price which you agree with the provider of the managed account.

    However, considering the many fraudsters in the market today, you have to be sure that the managed account provider is registered. Also, you should do some background research and especially from the client reviews and feedbacks.

    Nevertheless, if you find a trustworthy managed account provider, you will be a lucky investor. You actually make money without the much stress of trading. You actually get enough time to continue doing your daily chores while still making money from the financial markets.

    But even with the managed accounts, you should remember that the risk involved in forex trading doesn’t change.

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    #1615

    varapau
    Participant
    • 14

    It is certainly very helpful and many big traders don’t trade themselves instead have an expert for it. However, I don’t think it’s all that worthy for a common individual like me.

    If I have investment running under 1k then, I will not think about this, as it is not going to be all that rewarding. But if my investment is like 10-15k then it is a really good way to go with experts.

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    #1665

    george
    Member
    • 14

    My advice will be not to put too much into this. We can look out at these things, but it should be just with the lower amount. I never like to give my earning to someone else to manage. If I am good enough then there to invest into this, but if I am not good enough then I will not want to work here at all. So for me, no option of giving others to manage comes up.

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    #1696

    Coleen
    Member
    • 26

    It is really good if you are busy in life with other things. But it is obvious that got to find out the BEST guy to manage it up, I don’t think it will help anyone if we pick up random people to manage for our self.

    I don’t mind doing it at all, but only if the person I am working around can be considered as reliable one.

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    #1790

    FXGuru
    Participant
    • 135

    Well, if you ask my experience on this, then I will say I am not pleased. I have tried various services like PAMM account and others, it didn’t work out. I mostly end up making my money stuck or getting it out with the badly hit scenario. So, I will not suggest anyone go with managed accounts. If you want, then learn yourself or do something that you can do yourself!

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