Strange question regarding managed accounts

Beginner Questions
1

Hi! First I suppose I’ll tell you my story. My friend’s grand father got married and struck it SUPER rich, so me and my friend come up with the idea asking him if he’d be willing to put 100k or so into a managed forex account and letting us (or my friend, rather) have all the profit from it (since he’s already incredibly rich and it’s going towards family). We’d let it double up and take the profit to start another managed account and go from there and share the cash and figure things out from there. Why I’m included in this? I’m not quite sure, I got lucky and have a great great friend. :slight_smile:

So… I figured, we need to come up with a good persuasion plan. It’s already likely that this will go through. But I was curious if someone could help me gather information on the success rate of managed markets, the possible (probable!) losses…etc. I mean I already know the basic details of this information. But we’d like to present it to him in a convincing and honest way…you know? Any ideas?

Right now I’m studying forex, realizing that I might actually enjoy this as a full time career (yes I realize how much experience and intelligence it takes to be successful here)
So I suppose any extra tips would be fantastic too!

2

A successful demo account with a printed statement of the demo activity from the broker would probably work. Good luck!

3

By “managed account” do you mean, you and your friend will manage it or an actual managed account. If you mean an actual managed account then I will just say one thing. Putting your money in a managed account is like loaning someone your money without any guarantee of ever getting that money back, never mind a profit. Loaning someone money with no guarantee of a return seems, well, not so smart. I’m just saying, I wouldn’t do it, especially not with someone else’s money.

4

I mean ‘the’ managed account. I just read around and found most all people who do this expect between 5-30% $ on average per month. I understand the risk, I understand there are conditions that could kill the money and I’ll keep that in mind.

Thanks for the info. Any more would be appreciated. Peace. :slight_smile:

6

5 - 30% a month… where do I sign up. :smiley: Its more like 5 - 30% a year less 20-22% management fees plus 1.5% admin fees. Still a better return than most other instruments but not a get rich quick strat.

7

psshhhh im making like 500% a month ;)[B] !!!SCARCASM!!![/B]