Has anyone invested money in a FX managed account where a professional trader places trades on your behalf?
If so what were your experiences and are there any recommendations.
Over the last year I have just been playing around on demo account but can’t seem to consistently be profitable so have held off placing live trades. Also I have been using signals form so called professional traders even on this site but it seems on most occasions the trades haven’t been too successful.
Any recommendations. I have a little bit of cash lie around and would like to see some descent return.
I used a professional stock trader. Worst deal I every did. Lost all my savings. I told all my friends guy was a loser, didn’t know anything, blah blah blah, etc. A poker friend of mine, asked me why I chose him and I said a friend of mine uses him. To which he said okay so what was the strategy? I said 'How should I know… to which he replied; " well there’s your problem, your’re mad at the wrong person. Don’t take it out on him, because you didn’t ask enough or any questions or take any interest. You should see out a professional trader the same way you would see out any one’s services. Make sure in this case the trading strategy is in line with your goals so don’t play around, if you don’t want to do it yourself seek out a pro, but have enough of an understanding to be able to make decisions on what’s being proposed to you.
As far as how you’ve been trading for the last year, if you post the written trading plan that outlines your trading method, money management and trading goals you’ve been using, you will get a lot more answers applicable to your plan and goals instead of someone else s.
Trading to be successful, has to applied constantly long term. You cannot judge anyone signal provider, trader, software etc, based on short term. Any experienced trader will tell you they apply the same method, money management, patience and discipline and a long with the positive trades get negative ones. Don’t just look at costs; look at the value. . .you’re getting with the costs.
Thanks for sharing. Seems like a some newbies are ready to invest everything except the necessary time and effort in order to be a “successful” trader. Nothing wrong with managed accounts (especially if forex trading isn’t for you) but research is a must.
Ravs, best of luck in finding a manager that suits your trading personality!
I think it’s better to lose by yourself rather than hiring outsider to trade your account. Because they can show you fake results to impress you. But in the end it’s not their money but yours. So they don’t care about any psychological matters ( greed,fear ). If you want a decent return but don’t like to trade by yourself there are some other ways.
I saw some like this, But always i like own trade. Some they show false result.But some broker also have this type service there some real trader good. Maybe if you check myfxbook they provide real info.
