Normally this would be a discussion about looking for profitable money managers. However this discussion is for the money manager mentality and is not a listing board of your skills. If you would like advertise and look for investors you can place an AD here -- http://www.myfxbook.com/community/general/fx-manager-listing-board/37060,1

hi Will!

If you want you can subscribe to my trading signals. No EA. the EA normally do not work.

in 4 years I have averaged 2% to 6% mesual and I have only 2 0 3 bad months a year.

go to: http://trader-joel.blogspot.com.es/2012/04/trader-joel.html

   ForexScam posted:
   However, my advise to you is ask friends and family first. This will build up the capital quickly and with little effort. Next hit up Forex Peace Army, and any other Forex Forum where advertisement is allowed. Lastly, get on the bandwagon of SEO , paid advertisement, affiliates, joint venue, LinkedIn, FB, and any other networking site.


And what if you lose the money of friends and family? Also, what about the regulatory side of things? Managing money for others usually requires registration with some regulatory authority. Regulation is on the increase globally and the headaches associated with this are increasing all the time. Also, advertising as mentioned above would also be illegal in several jurisdictions.

Now, on a somewhat different note. Are you really sure you want to manage OPM? People tend to think that you need to make money the way they want you to, i.e. very little risk and high returns. Thus, if you try to keep your clients happy, clients can influence the way you trade and sobatage any chances you have of actually making money in the markets.

A much easier way is to open an account with somebody like OANDA, deposit money into the account monthly and trade the account according to the plan. Trust me, if you can do this for 10 years, you will be surprised at the gains. I mean just $100 monthly at 20% per annum works out to approximately $37,500 after ten years. While this may not seem like much, 20 years down the line it could be approximately $300k. Definitely a tidy sum, and none of the headaches associated with OPM. Only problem is that it takes time, and most people are not prepared to work at it that long.

   rainee posted:
   Trixifx u must be joking . In fx to wait for 20 years to profit 300k is too little for FX professionl traders .This amount can be done in 6 mths to 1 yr . By 20 yrs u can have 300k but do u know wat is inflation of money ?? Money Managers are able to make your returns higher than your self trading. If u trade with $100 , i suggest u dont trade fx better keep the money and spend .


Do I detect a hint of greed here? Perhaps you need to read up on fear and greed. Plenty good books out there.

In my example, you need to deposit $100 a month to reach that goal. Otherwise it will never happen. But this is just an example to illustrate a point. If you can deposit $1,000 a month, then the goal can increase to roughly $3 million before taxes. Still not bad I think.

Also, have you considered the cost of drafting the prerequisite legal agreements before accepting client money? How about costs of registration with the appropriate financial regulator? Annual costs of ensuring compliance with eveything the regulator requires? Legal fees can be upwards of $10,000 and regulatory fees can also be in excess of $10,000 p.a. This is money that needs to come out of your pocket, not those of your investors. So, just starting up managing money can set you back $20,000 in fees.

Next, clients can be a very difficult lot. Clients want super returns, but don't want you to lose their money. Through losing periods, they will contact you and threaten to pull their money. If you are dependant on their money for your survival, you will end up trying to please clients. Thus, you will be self-sabotaging yourself and probably end up blowing up. Even worse, if you are dependant on performance fees to survive, you will end up taking excessive risk and probably end up blowing up. However, if you can pull your living expenses from your own account (without needing to take excessive risk), the above risks are almost completely eliminated.

Also, I see you advocating 2000:1 leverage. While this doesn't mean much, since risk can be controlled with other means, that does send a pretty big warning signal. You know that you can wipe out your account in less than one day, right?

Regarding your comment about professional fx traders, I have seen quite a few 'professionals' here. Most of them promised high returns and ended up blowing up.

Trading is like any other business, if you start it under-capitalised then you are just sabotaging your own chances. If you have a lost of spare cash available, then you give yourself a much better chance of survivial. But then, again what is the appeal of getting rich slow?

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