This Thread is about sharing a profitable strategy therefore you can focus on your venue.
A money manager does the trading for your company to elevate the stress involved with trading and maintaining a client base at the same time. You focus on the clients: opening accounts, processing LPOA, handling performance fees, etc.
In order to keep your company growing, a large amount of resources need to geared towards advertisement. There are thousands of Forex Management websites and as a result competition is endless, but you probably all ready know this since your on Myfxbook looking for investors. This website is a good start because you can verify your performance and visitors are already familiar with Forex.
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.
Remember to keep your Investment Capital Requirement at a Bare Minimum like $500. You would be surprised how many small fish you'll catch with your net. And don't worry, you'll catch the big fish as your company grows.
In order to make this worth while, you would need about a 20k portfolio size.
Money management is the fundamental aspect of safe trading and the compony safety. I would prefer to work with a client with the capital at least 50 - 100 times the margine for a lot traded. And risks are the lower the higher the timeframe is, which also affects the requirements for the money invested.
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.
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 .
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?
Suggest u join my group in facebook : Pro Technical Fx and request . I have comprtition reuslts and many different stragedies and if u have doubts in my skills u join my group. Slowly u see all inside comments from world wide traders . I am not saying i am very good but i never loss in FX for 1 year till now and self creating many stragedies for big and smalla ccounts .
https://www.exness.com/monitor/trial_account/336282 Just a demo exness competition which is using another trend trading stragedy with safer returns and low draw down thks . Ranking number 24 in competition of 8th exness . Next competition will be tring in fxcm one just for fun .
How do i gain trust from my clients ? Pls deposit as small as $200 to exness and i manage . sees the results. From there u can see a trust from a longer term with small capital investment. Than if investment are bigger , pls deposits in duskacopy where i can also have rebates back to clients on promising a higher returns and a safe swiss banking regulated brokers .
rainee, I just had a look at your system. 257% since May 2. With that type of system why do you need clients? I mean, just do this for a couple of months and you will be a gazillionaire.
But let's have a look at the system in more detail: 1st trade win 4.5 pips up 11.3%, 2nd trade lose 10 pips down 28%, 3rd trade lose 22.4 pips down 34.84%. The rest of it looks pretty much the same. Extreme leverage for small pip gains. I guess you don't have enough confidence in this system to trade it with some real money of your own.
I am afraid that if you take that much risk, then you are exactly the type of manager clients should avoid. And no, I am not joking.
U can say what u like but results shows it is a positive % and results speaks louder than what u say . i have lots of cilients. U join my facebook group or u can see me trade live in fronyt of skype to show u .
This is a small deposits of $200 usd only if u want to have slow trades i ll not be scalping at all. It is growing 257% in few days. With big accounts of 100k the strgedies are not the same as this 1 .The risks is $200 but returns is 1000 % u see in 1 week time as we will do withdrwal it is my clients account not mine.
An investors looking for $200 as risks is not a serious investors?? If u want slow and ssafe trades than $200 usd can be traded with up to 2 mths so that it can reach 257% or from 200usd too 700usd now . Investors looks at account balance and how much real profits money make. If u keep looking and maintaaining the conservative old ways of risks reward and 5 % for 1 trade very low 1:50 leverage?? U cannot even trade with $200usd. Pls ask who can trade with 200usd in real live using x2000 leverage? Or any challengese ?? I can take acceptance on betting sees who reachings the highest profits returns in the faster time. I have 1 record for $100 to $1500 in 5 days of trading . U want i can email u all records. I use only x2000. Thisis called stragedies self creation . Not risks.
After extensive research, we designed and developed our own automatic trading systems. The system I present on InfiniumFinancial is from one of our live accounts trading is a price action based strategy. Our system is based three sub-strategies and all of them are automatic. Now we trade all the system together and each component deals with one market condition so we can control the risk well. Usually we can control the max drawdown under 20% and expect 3-5% profit each month.
There are three sub-strategies in our trading system, and the followings are details.
Breakout-Tend Following Unit This trading unit will open position when it recognize some special patterns in a strong trend market based on market volatility and price. And it will add more position when we in the right direction. So it makes us hold more positions when we are in right direction, and fewer positions in wrong direction. We trade EURUSD on this strategy and usually we open 2-4 positions one time. The max loss of each group is about 2%. Pullback Trading Unit After a strong trend, usually, the price will pull back naturally, and the component will enter the trend in the main direction. We trade XAUUSD, EURUSD, GBPUSD and AUDUSD on this strategy. We open 1 order 1 time. The risk on per trade is about 3% but it rarely happens. Scalper Trading Unit Scalper is the most powerful weapon in automatic trading compare to manual trading. This trading unit will scalp the market when price move suddenly ,each trade can make small pips ,but as usually it trade a lot times and with high win ratio, so this unit very profitable. We usually open 2-5 orders each time. We trade EURUSD on this pair and the risk on per trade is about 0.5%.
The min amount of investment will be 5k.The account can be open on GCMFX, Gomarkets or Gain capital.3 big trustable brokers.
If you have any question regarding start investing with this system please contact our LIVE Support through skype.
I show my results to loads of people where I live, but they seem not to believe me <even when the results are verified by myfxbook>. They seem to think it's too good to be true. I don't have any clients, and really don't know if I would want any. From what I'm reading on the internet, signal providers have to deal with 'technical support' type of questions also.
HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors.
Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance.
You could lose some or all of your initial investment. Do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading, and seek advice from an independent financial or tax advisor if you have any questions.
Any data and information is provided 'as is' solely for informational purposes, and is not intended for trading purposes or advice.
Past performance is not indicative of future results.