What is managing :D ?
It means that you give your MT4 and Password to a total stranger, who will trade on your account. If your are REALLY lucky, he will make some profits for you and at the end of the month you pay him a percentage of your profits (via PayPal, wire, BitCoin, etc.)
Don't have your hopes high, most profitable strategies don't last for more than 6 months without a disappointing or unproportional DD. Those who have the 'Holy Grail' are not soliciting clients for account management here on MyFxBook...
If we base on 'hope' , we will never come to success, we have to try, experience, analysis.. if not on the market then on the manager himself. But also not to forget forex business is 95% fail so it is very common that we most probably not gaining, unless we must be diferent from 95% other, so maybe your analysis to the manager is not 'right' ( because he is winning and we are not )
one condition for success is you have to 'dare'
You are right about the 95%. The reason why most traders and even 'self-appointed' MyFxBook money managers fail is not because of their strategy, but because of their 'psychology'.
According to many published books and experts, trading success is 80% psychology and 20% strategy. If anyone had ever traded an account above $50k knows what I am talking about. And $50k is just 'pocket change' for most hedge fund managers.
Also, that is the exact reason why 'trading psychology' books are so popular on Amazon.com, and that is why hedge funds employ psychologists for their top traders...
In other words: once you have mastered a successful strategy, you are only at 1/5th distance on the road to success... After that you stll have to conquer and master your emotions, so they should not influence your trading. Easier said than done... and you will know it for sure only when your 'funds under management' hit the $50k mark...
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