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Any Advice for Newbie seeking Account Manager?
avkap23

Member Since Sep 06, 2019  5 posts avkap23 Sep 06 at 15:19
I'm inexperienced concerning forex. Never traded but I want to learn however I hear its very risky. I am thinking about getting an account manager to trade for me while I learn and get confident to do it on my own. I read up a little about PAMM accounts/managers. What's the minimum amount of USD that a reputable manager would manage? Also when I started researching forex trading I came across a few account managers on Instagram. However I got the feeling they were scammers because of other people saying they usually are on that platform and none of them wanted to do a video call with me so I could verify their identity and also see how they trade if possible. One of them I couldn't even find any info on when searching online. One of these 'account managers' even said they were Michael Edward Novogratz and had his pictures plastered on the page but I questioned that because I didn't think a billionaire would be looking for clients on Instagram. I'm just afraid of losing my hard earned money by investing with someone who may be a scammer. Can anyone offer any advice? Thank You.

Pannik

Member Since Mar 19, 2012  118 posts Nikolaos (Pannik) Sep 06 at 17:07
Be care full!!!

nikolaospantzos@
Professional4X

Member Since Jan 05, 2016  968 posts Professional4X Sep 07 at 03:30
Best advice. Don't give your money to anyone else to invest on your behalf.

Learn to properly trade.

Risk management should always be your #1 priority.
If anyone tells you this isn't your #1 priority, then you should ignore them from that point on.
If you don't properly manage your risks, then you put your entire investment capital at risk.

Risk management
Emotional control
Automate when possible and reasonable
Use a realistic and reasonable stoploss target
Use a realistic and reasonable take profit target
Be realistic in your expectations.
Do not try to get rich quick. A slow but steady profit over time is far better than losing it all with a series of unreasonable trades.

Don't pay for 'bots', they will not make you rich. If they worked, why would they sell them?

Again... BEST advice don't give your money to others, keep it for yourself, and learn to invest it properly.

If it looks too good to be true, it's probably a scam! Let the buyer beware.
avkap23

Member Since Sep 06, 2019  5 posts avkap23 Sep 08 at 09:01
Professional4X posted:
Best advice. Don't give your money to anyone else to invest on your behalf.

Learn to properly trade.

Risk management should always be your #1 priority.
If anyone tells you this isn't your #1 priority, then you should ignore them from that point on.
If you don't properly manage your risks, then you put your entire investment capital at risk.

Risk management
Emotional control
Automate when possible and reasonable
Use a realistic and reasonable stoploss target
Use a realistic and reasonable take profit target
Be realistic in your expectations.
Do not try to get rich quick. A slow but steady profit over time is far better than losing it all with a series of unreasonable trades.

Don't pay for 'bots', they will not make you rich. If they worked, why would they sell them?

Again... BEST advice don't give your money to others, keep it for yourself, and learn to invest it properly.

So I take it you know for a fact account management is very risky.. Thank you for the advice. Appreciate it. I was going on emotions wanting to see my money grow so I could become economically self sufficient. I had a hunch it was too good to be true.

avkap23

Member Since Sep 06, 2019  5 posts avkap23 Sep 08 at 09:03
Professional4X posted:
Best advice. Don't give your money to anyone else to invest on your behalf.

Learn to properly trade.

Risk management should always be your #1 priority.
If anyone tells you this isn't your #1 priority, then you should ignore them from that point on.
If you don't properly manage your risks, then you put your entire investment capital at risk.

Risk management
Emotional control
Automate when possible and reasonable
Use a realistic and reasonable stoploss target
Use a realistic and reasonable take profit target
Be realistic in your expectations.
Do not try to get rich quick. A slow but steady profit over time is far better than losing it all with a series of unreasonable trades.

Don't pay for 'bots', they will not make you rich. If they worked, why would they sell them?

Again... BEST advice don't give your money to others, keep it for yourself, and learn to invest it properly.

Could you recommend a good place, website or course where I could learn to trade properly. This is all new to me and I want to make the learning curve the least complicated as possible.

avkap23

Member Since Sep 06, 2019  5 posts avkap23 Sep 08 at 11:17
Pannik posted:
Be care full!!!

Thanks

Stock_Cycles11

Member Since Jun 29, 2019  16 posts Stock_Cycles11 Sep 14 at 22:25
avkap23 posted:
I'm inexperienced concerning forex. Never traded but I want to learn however I hear its very risky. I am thinking about getting an account manager to trade for me while I learn and get confident to do it on my own. I read up a little about PAMM accounts/managers. What's the minimum amount of USD that a reputable manager would manage? Also when I started researching forex trading I came across a few account managers on Instagram. However I got the feeling they were scammers because of other people saying they usually are on that platform and none of them wanted to do a video call with me so I could verify their identity and also see how they trade if possible. One of them I couldn't even find any info on when searching online. One of these 'account managers' even said they were Michael Edward Novogratz and had his pictures plastered on the page but I questioned that because I didn't think a billionaire would be looking for clients on Instagram. I'm just afraid of losing my hard earned money by investing with someone who may be a scammer. Can anyone offer any advice? Thank You.


I recommend a demo on FTMO. It is a site that you can try to qualify to trade other peoples money. They have free demo's upon which you must not break their loss limit rules. If you do, you failed. I am now in a paid Challenge to try and qualify for live account. It has taught me risk management, which includes drawdown, not just losses from closed trades. So I find the pip value of what I am looking to trade, how much will I lose if my stop is hit. It helps against over leveraging and other trade issues. The goal of the demo is to gain 5% in 2 weeks, without violating loss rules. It is based in Europe and available to USA traders.

I called the NFA and they said there is no license requirement because the business is in Europe, and NFA and CFTC have no jurisdiction outside the USA.

AniLorak

Member Since Apr 18, 2017  701 posts AniLorak Sep 18 at 14:11
avkap23 posted:
I'm inexperienced concerning forex. Never traded but I want to learn however I hear its very risky. I am thinking about getting an account manager to trade for me while I learn and get confident to do it on my own. I read up a little about PAMM accounts/managers. What's the minimum amount of USD that a reputable manager would manage? Also when I started researching forex trading I came across a few account managers on Instagram. However I got the feeling they were scammers because of other people saying they usually are on that platform and none of them wanted to do a video call with me so I could verify their identity and also see how they trade if possible. One of them I couldn't even find any info on when searching online. One of these 'account managers' even said they were Michael Edward Novogratz and had his pictures plastered on the page but I questioned that because I didn't think a billionaire would be looking for clients on Instagram. I'm just afraid of losing my hard earned money by investing with someone who may be a scammer. Can anyone offer any advice? Thank You.


Listen; depending on others can’t be a proper rule. On the other hand, scammers are available, here & there; so be careful!

jakes90

Member Since Jul 31, 2019  13 posts jakes90 Sep 20 at 11:32
avkap23 posted:
I'm inexperienced concerning forex. Never traded but I want to learn however I hear its very risky. I am thinking about getting an account manager to trade for me while I learn and get confident to do it on my own. I read up a little about PAMM accounts/managers. What's the minimum amount of USD that a reputable manager would manage? Also when I started researching forex trading I came across a few account managers on Instagram. However I got the feeling they were scammers because of other people saying they usually are on that platform and none of them wanted to do a video call with me so I could verify their identity and also see how they trade if possible. One of them I couldn't even find any info on when searching online. One of these 'account managers' even said they were Michael Edward Novogratz and had his pictures plastered on the page but I questioned that because I didn't think a billionaire would be looking for clients on Instagram. I'm just afraid of losing my hard earned money by investing with someone who may be a scammer. Can anyone offer any advice? Thank You.


You can trade after you are done with the learning part. Can’t really rely on anyone when money is involved. I would say first learn from babypips free course by yourself, use a demo account side by side and then start to trade yourself.

AmDiab

Member Since Apr 18, 2017  538 posts AmDiab 17 Hours ago
jakes90 posted:
avkap23 posted:
I'm inexperienced concerning forex. Never traded but I want to learn however I hear its very risky. I am thinking about getting an account manager to trade for me while I learn and get confident to do it on my own. I read up a little about PAMM accounts/managers. What's the minimum amount of USD that a reputable manager would manage? Also when I started researching forex trading I came across a few account managers on Instagram. However I got the feeling they were scammers because of other people saying they usually are on that platform and none of them wanted to do a video call with me so I could verify their identity and also see how they trade if possible. One of them I couldn't even find any info on when searching online. One of these 'account managers' even said they were Michael Edward Novogratz and had his pictures plastered on the page but I questioned that because I didn't think a billionaire would be looking for clients on Instagram. I'm just afraid of losing my hard earned money by investing with someone who may be a scammer. Can anyone offer any advice? Thank You.


You can trade after you are done with the learning part. Can’t really rely on anyone when money is involved. I would say first learn from babypips free course by yourself, use a demo account side by side and then start to trade yourself.


That’s the procedure new traders should follow in; rushing is very common problem by the new traders!

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