'Us' here are many investors that have money but don't have the time to trade or learn to trade by themself. There are many of them including me and my relatives/friends. I see a huge potential in Forex, there must be a place where investors can find good traders to invest in.
I see some good looking performance here but since Equity is not shown so it is not enough. That is why I encourage good traders stand out so that investors can invest in them. This is good for both sides.
I have managed my own money only, but have considered also managing others. I have made decent returns, but they don't stand out from the masses, since 2009 was a very good investment year (just buy&hold anything). My target is to make 20-25% annual gain, and last year I made around 45%...In 2008 I lost something like 5% (I was only learning to trade FX then) and before 2008 I did not trade FX, only stocks (already since dot-com bubble). My equity is around 100k in Euros.
Here are some reasons why I have not made it to money management yet: -I don't have contacts in the industry, so I would have to work hard as salesperson to get real customers (and develop contacts also) -If I signed up couple of friends as 'customers', they would have so little to invest that I would make virtually no money as management fees....e.g. 1000euros each customer would be just a nuiscance to manage. -I barely have enough time to do all the work needed to trade FX well enough -I want to have a good track record to show (2009 record is not enough, since the year was too easy to make money)
I live in Finland and it would propably be very diffucult to get big customers here locally. There are even no jobs here at forex industry at all. How likely it is that people would invest in my managed accounts if I would not meet them personally, but over Internet only? that would propably be again very small under 10k euros accounts.
Hi! Of course technology can not totally prevent scams, but fx-platforms offer a method, so that you don't have to send money to the manager at all, just give them access to trade your account, so that ONLY YOU can withdraw the money any time you want.
I'm using Oanda as a platform, and they have a 'FX manager' service, where a money manager can trade pooled FX accounts. Oanda also keeps track of the deposits/withdraws of each investor/client and also automatically takes the performance fee for the manager whenever profit is made (high watermark principle applies).
Since I am seriously considering managing FX accounts, I would be interested to try out this 'FX Manager' as a trial basis. I do not need big fees for now, so we could agree a low-fee/low-initial deposit deal, for a trial period of at least 6months, after that we could decide together, if we want to continue with some serious money/business.
My track record is not yet available here in Myfxbook, but I will put it here if interest arises. My experience as a trader is described above in my previous post.
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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.
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