sihabuddin posted:
TheLastBear posted:
A sophisticated trader will always make money regardless of market conditions. Sure, to the majority it will be always useless but that is not the fault of the markets, rather the fault and failure of the individual.

5% people control 95% others because they have 95% money.

Sure, and your point is...?

the traders that make an actual living (or more) will rarely post here. Why would they?

And if you're not one of those, I suggest you put your funds in a PAMM that has a good average performance to your liking for at least 6 months. They make more money cuz they can trade a higher volume, and you can make more money because they actually know what they're doing :)

I have money in at least 5 different PAMMs at LiteForex, but this should in no way be taken as an advertisement as there are several good brokers with decent PAMM systems.

Just do an online search for PAMM accounts and you get a short insight. I never post about how I make my money in the market, but rather join a general discussion or start one. As you will be able to tell I do not even share my performance here. My best free advise is that you do the hard work and learn how to trade yourself or find someone you are comfortable with to manage your money for you.

James_Bond posted:
TheLastBear posted:
Just do an online search for PAMM accounts and you get a short insight. I never post about how I make my money in the market, but rather join a general discussion or start one. As you will be able to tell I do not even share my performance here. My best free advise is that you do the hard work and learn how to trade yourself or find someone you are comfortable with to manage your money for you.

I would watch out from those pamm accounts (or at least study them carefully), as most brokers do not filter out the bad traders since they're looking to increase trading volumes.

I never used a PAMM, but people do like them. I have always done my own trading, but can't say that I have not played with the idea to trade for other people on a small scale.

liquidityFX posted:
Agreed on the above, it took me two years to go from doing my own PAMM's to also investing in others to diversify. It's pretty scary to throw money at someone you don't know and you don't know how or what they're trading with. You do have to check them very carefully, and indeed check what the broker is showing you about the PAMM. One very important thing I always check is the floating drawdown.

Another important factor your can't verify is if the trader is a professional trader or just a kid. I'm not saying you can't find young talent, however if the trader is still busy with school homework, it can distract him from trading which can lead to disastrous results.