Dear fellow fx citizen,
I would like to start a new topic for fx managers to share their experiences in getting potential investors. Posting verified live result in myfxbook.com is certainly one of the good ways in attracting potential investors. Besides this, what fx managers will do to solicit new clients?
Cheers,
Wallace
I would like to start a new topic for fx managers to share their experiences in getting potential investors. Posting verified live result in myfxbook.com is certainly one of the good ways in attracting potential investors. Besides this, what fx managers will do to solicit new clients?
Cheers,
Wallace
Wallace Forex Laboratory conducts research on profitable EAs. Our ultimate goal is to create a portfolio of EAs which can provide consistent profit.
Nov 02 2010 at 15:07
Hi,
This seen like an interesting question.
Hope to have more input.
Thanks,
SIM
This seen like an interesting question.
Hope to have more input.
Thanks,
SIM
Nov 02 2010 at 17:58
I used to be a freelancer in the offshore industry, we all network for work using mostly Facebook. You have the friend feed so if someone is off to a field you know exactly who is hiring and where. You swap leads with the guys at home and after a while you hunt in packs. One guy picks up a project you all do. I've gone from India to Saudi to Taiwan and found the same people there, and the only connection is what you see on Facebook.
Nothing brings the message home like a general 'Thanks guys, been nice, but I'm quitting because my forex pays more. Who wants an account....'
Remember those guys also have their own little hunting packs, it's slightly different for everyone as they know someone you don't, so the message just spreads into new networks, especially if a member of that little hub resigns.
It's just networking, maybe a bit more extreme because of the freelancing, but this is how we operate for normal day-to-day work and business. Whether real life or cyber space, have to work your network. Have to build the relationships and then walk the walk.
The momentum takes a long time to build, but when it starts rolling it's almost impossible to stop.
Nothing brings the message home like a general 'Thanks guys, been nice, but I'm quitting because my forex pays more. Who wants an account....'
Remember those guys also have their own little hunting packs, it's slightly different for everyone as they know someone you don't, so the message just spreads into new networks, especially if a member of that little hub resigns.
It's just networking, maybe a bit more extreme because of the freelancing, but this is how we operate for normal day-to-day work and business. Whether real life or cyber space, have to work your network. Have to build the relationships and then walk the walk.
The momentum takes a long time to build, but when it starts rolling it's almost impossible to stop.
Nov 02 2010 at 18:24
I love all the web tools, but they don't have a patch on telling people your story, especially if you resigned the day job because the fx pays better....
Currensee social networking is very aggressive with their marketing. I am a trade leader with them and lots of their clients are signed up to follow my trading systems.
Currensee is a very good site. The trade following system even takes care of lot sizes etc. on the contrary to other systems such as Zulu or Tradency. Greetings to Winsor who is a member of my trading team and vica versa 😉
Nov 03 2010 at 20:22
The best way is to be humble and just focus on your trading. You should be able to make enough on your own before you try to manage other peoples money. Once you can make enough on your own, other traders and investors will back you including your friends and family.
Once the news gets out that you trade for a living and you no longer work the 9-5, you will get a lot of attention from word of mouth. Pip by pip, day by day, the capital will increase and your reputation will grow.
We should contact Myfxbook and suggest a Management Board like Currensee has.
Once the news gets out that you trade for a living and you no longer work the 9-5, you will get a lot of attention from word of mouth. Pip by pip, day by day, the capital will increase and your reputation will grow.
We should contact Myfxbook and suggest a Management Board like Currensee has.
Nov 03 2010 at 22:34
That's assuming trader at least has some starting capital worth to mention and friends or family who also has spare capital.
I think that someone can trade and even doe snot live from trading profits, he can manage OPM. Obviously trades must show that he can trade with good risk control and make money. This is what myfxbook is for.
I think that someone can trade and even doe snot live from trading profits, he can manage OPM. Obviously trades must show that he can trade with good risk control and make money. This is what myfxbook is for.
pipinvestment1 posted:
The best way is to be humble and just focus on your trading. You should be able to make enough on your own before you try to manage other peoples money. Once you can make enough on your own, other traders and investors will back you including your friends and family.
Once the news gets out that you trade for a living and you no longer work the 9-5, you will get a lot of attention from word of mouth. Pip by pip, day by day, the capital will increase and your reputation will grow.
We should contact Myfxbook and suggest a Management Board like Currensee has.
Nov 04 2010 at 00:44
I would have to disagree with you based on the fact that mass amounts of Account managers fail because they actually think that they are ready to manage OP$.
This website was not designed to find investors. It was designed by traders-for traders to improve their skills based on statistical evaluation. Most contributors to this site are honest traders and investors that want more out of the statistics.
Good traders want to display transparency while investors want the same. As this site continues to improve and as scammers are pushed out, in the end, investors can finally make educational decisions with their money based on the statistics found on these trading systems.
Now from being a member for several months, I've seen many MoneyManagers Come and Go, quite quickly honestly, and they are all the same.
-They think that they are a good trader-some are, some are not.
-They have a proven system
-They do quite well with their own money
However, they want more (greed), they know, if that can gain this much with $1k in their account, just imagine what they can earn with $100k and the only way they can ever reach that sum of money is from investors. So they became a MM.
Now what often happens is that they want to earn a nice living their first month. They have little to lose and lots to gain. In the end, they can not contain their emotions and they become a rouge trader.
So my advice, is that you need to cut your living expenses to a bare minimum, lose the idea of making a lot of $$$ and start saving until you have enough $ to trade the LOT size that you need in order to meet that monthly goal to live from your own trading. Once you can do this, You will focus on what you '' NEED' to make to survive and not what you 'WANT'.
Once you figure this out, than maybe you will have a chance at becoming a MM.
This website was not designed to find investors. It was designed by traders-for traders to improve their skills based on statistical evaluation. Most contributors to this site are honest traders and investors that want more out of the statistics.
Good traders want to display transparency while investors want the same. As this site continues to improve and as scammers are pushed out, in the end, investors can finally make educational decisions with their money based on the statistics found on these trading systems.
Now from being a member for several months, I've seen many MoneyManagers Come and Go, quite quickly honestly, and they are all the same.
-They think that they are a good trader-some are, some are not.
-They have a proven system
-They do quite well with their own money
However, they want more (greed), they know, if that can gain this much with $1k in their account, just imagine what they can earn with $100k and the only way they can ever reach that sum of money is from investors. So they became a MM.
Now what often happens is that they want to earn a nice living their first month. They have little to lose and lots to gain. In the end, they can not contain their emotions and they become a rouge trader.
So my advice, is that you need to cut your living expenses to a bare minimum, lose the idea of making a lot of $$$ and start saving until you have enough $ to trade the LOT size that you need in order to meet that monthly goal to live from your own trading. Once you can do this, You will focus on what you '' NEED' to make to survive and not what you 'WANT'.
Once you figure this out, than maybe you will have a chance at becoming a MM.
Elite,
Very well said.
Winsor
Very well said.
Winsor
Nov 04 2010 at 07:25
Ok, this is pointless debate.
I am sure that no one here started with $500-1000 and then after many years of living modestly and cutting expenses, losing family in the process, started earning from their grown account.
It is a vision a la Jesse Livermore , however it is not a real life. There is saying, Money attracts money and $1000 is not attracting money. To start the process there must some kind of absolutely necessary minimum capital. Sometimes it is simply impossible to cut any expenses to put more into trading account. But here the catch. if trader trades his small money and this is the only money he can afford to trade and lose and has no other to add, it says something about this trader. I know some guys from this and Oanda forum who have been at it for years and still cannot succeed in the long run. Because they have very very comfortable living and recharged their account numerous times, because they have got a lot of cash.
This is the guys who have material base to succeed based upon their own money.
But their psychological state is not right.
'However, they want more (greed), they know, if that can gain this much with $1k in their account, just imagine what they can earn with $100k and the only way they can ever reach that sum of money is from investors. So they became a MM.
Here Elite Trading Team, you say that everyone is same. Some are idiots and some are not. Some are in for a quicky but some are in for a long term goal.
I personally would not do it. Some one might. No all traders made same.
And almost all guys about whom you hear and who mad eit big trade OPM and not their own money unless they have cerious capital or backing from their rich family which is also OPM.
I am sure that no one here started with $500-1000 and then after many years of living modestly and cutting expenses, losing family in the process, started earning from their grown account.
It is a vision a la Jesse Livermore , however it is not a real life. There is saying, Money attracts money and $1000 is not attracting money. To start the process there must some kind of absolutely necessary minimum capital. Sometimes it is simply impossible to cut any expenses to put more into trading account. But here the catch. if trader trades his small money and this is the only money he can afford to trade and lose and has no other to add, it says something about this trader. I know some guys from this and Oanda forum who have been at it for years and still cannot succeed in the long run. Because they have very very comfortable living and recharged their account numerous times, because they have got a lot of cash.
This is the guys who have material base to succeed based upon their own money.
But their psychological state is not right.
'However, they want more (greed), they know, if that can gain this much with $1k in their account, just imagine what they can earn with $100k and the only way they can ever reach that sum of money is from investors. So they became a MM.
Here Elite Trading Team, you say that everyone is same. Some are idiots and some are not. Some are in for a quicky but some are in for a long term goal.
I personally would not do it. Some one might. No all traders made same.
And almost all guys about whom you hear and who mad eit big trade OPM and not their own money unless they have cerious capital or backing from their rich family which is also OPM.
Nov 04 2010 at 07:27
My goal always was and is to reach high level of competence and employ my skills to help other people grow their capital with reasonable returns and solid risk control over long term.
Nov 10 2010 at 05:27
All need to atract investors is consistency, that is what they want, and that is how i got mine too, once u are consistence, they will start coming to ya, a friend of mine is now managing up to 2m accounts, and my target is fo mine to get up to 5m before this year runs out
Slow But Steady
Nov 13 2010 at 03:19
Chikot posted:You talk a lot about the $$$ and not enough about the ' Long Term Goal'
started with $500-1000--- Money attracts money--- and $1000 is not attracting money. ---got a lot of cash.
---to succeed based upon their own money---more (greed), -- $1k in their account, just imagine what they can earn with $100k -----money ----- a long term goal.
their own m= capital
Nov 16 2010 at 00:59
Long term goal is to become a very good trader. The rest will come.
pipinvestment1 posted:
Chikot posted:You talk a lot about the $$$ and not enough about the ' Long Term Goal'
started with $500-1000--- Money attracts money--- and $1000 is not attracting money. ---got a lot of cash.
---to succeed based upon their own money---more (greed), -- $1k in their account, just imagine what they can earn with $100k -----money ----- a long term goal.
their own m= capital
Nov 16 2010 at 23:35
Indeed Elite, very well said talking points. Thanks for that..
Get up, dust yourself off.. and ride!
Nov 24 2010 at 10:12
Chikot posted:
Ok, this is pointless debate.
I am sure that no one here started with $500-1000 and then after many years of living modestly and cutting expenses, losing family in the process, started earning from their grown account.
It is a vision a la Jesse Livermore , however it is not a real life. There is saying, Money attracts money and $1000 is not attracting money. To start the process there must some kind of absolutely necessary minimum capital. Sometimes it is simply impossible to cut any expenses to put more into trading account. But here the catch. if trader trades his small money and this is the only money he can afford to trade and lose and has no other to add, it says something about this trader. I know some guys from this and Oanda forum who have been at it for years and still cannot succeed in the long run. Because they have very very comfortable living and recharged their account numerous times, because they have got a lot of cash.
This is the guys who have material base to succeed based upon their own money.
But their psychological state is not right.
Once upon a time, when I was 18 and deployed in the military... I was a bord young man. I discovered 'forex and all its possibilities'... My Captain at the time was my gym buddy... Having had a college education, he would always discuss his 'investments' and, well, shared some of his insight with me. The fact is, I turned $800.00 usd into $200k... Just shy of 9 seperate 100% returns compounded... inside of 3 years. how did I do this? I shot for 12% return per month... and some months got more.. Then it happened... I knew, Just Knew that the Euro was gonna make a move to the downside... Just 1%... And I let it roll 100 to 1... 20 mil short the euro. no SL, no TP.. ok ok.. so you see where this is going.. back to the point.. Yes some people can and do start from the pits of society, the tax return recieving type, the balance my checkbook before I get gas type.. yes. And they can and sometimes WILL astonish you... My disregard and lack of respect for the market decided to turn on me, or maybe I turned on myself... either way.. You can start from almost nil... If you got what it takes to save 800 bucks to fund an account... you have what it takes to make it successful. Its knowing and respecting the beast you've never met thats hard to do. What are you gonna do WHEN your a MM managing OPM? thats the question, and the mindframe you need to manicure before you will ever get their. The truth is... can you handle a 10k loss/gain with no emotion when that represents 1% or less of your NAV?
After the right mentality and ideaology is obtained, it would be best to become registered with the NFA as a CTA. These kind of crudentials are always helpful and mostly mandatory for QEP's.
The best way to develop AUM is to register with several CTA tracking websites. Most premier websites have certain minimums such as barclays hedge. In order to be ranked, you must have ATLEAST 1000k AUM.
I myself am registered with the NFA but am not currently seeking investors solely because I feel that I can be better.
GOOD LUCK WITH YOUR SEARCH!
The best way to develop AUM is to register with several CTA tracking websites. Most premier websites have certain minimums such as barclays hedge. In order to be ranked, you must have ATLEAST 1000k AUM.
I myself am registered with the NFA but am not currently seeking investors solely because I feel that I can be better.
GOOD LUCK WITH YOUR SEARCH!
Hey Guys,
I have had a bitch of a time getting clients, 6 months managed account track record sure helps now, but I can still only get people in person. My websites and promotions were all for naught.
It is picking up though, clients FINALLY starting to talk.
I hope it snowballs soon :)
I have had a bitch of a time getting clients, 6 months managed account track record sure helps now, but I can still only get people in person. My websites and promotions were all for naught.
It is picking up though, clients FINALLY starting to talk.
I hope it snowballs soon :)
1 pip pip banked is worth more than the rest out in the market.
Dec 09 2010 at 22:34
I have no problem with either losing or winning.
I will cut loss when it is 1% of my account whether this 1% is $10 000 or 1 million.
I will cut loss when it is 1% of my account whether this 1% is $10 000 or 1 million.
Youngmogul86 posted:
Chikot posted:
Ok, this is pointless debate.
I am sure that no one here started with $500-1000 and then after many years of living modestly and cutting expenses, losing family in the process, started earning from their grown account.
It is a vision a la Jesse Livermore , however it is not a real life. There is saying, Money attracts money and $1000 is not attracting money. To start the process there must some kind of absolutely necessary minimum capital. Sometimes it is simply impossible to cut any expenses to put more into trading account. But here the catch. if trader trades his small money and this is the only money he can afford to trade and lose and has no other to add, it says something about this trader. I know some guys from this and Oanda forum who have been at it for years and still cannot succeed in the long run. Because they have very very comfortable living and recharged their account numerous times, because they have got a lot of cash.
This is the guys who have material base to succeed based upon their own money.
But their psychological state is not right.
Once upon a time, when I was 18 and deployed in the military... I was a bord young man. I discovered 'forex and all its possibilities'... My Captain at the time was my gym buddy... Having had a college education, he would always discuss his 'investments' and, well, shared some of his insight with me. The fact is, I turned $800.00 usd into $200k... Just shy of 9 seperate 100% returns compounded... inside of 3 years. how did I do this? I shot for 12% return per month... and some months got more.. Then it happened... I knew, Just Knew that the Euro was gonna make a move to the downside... Just 1%... And I let it roll 100 to 1... 20 mil short the euro. no SL, no TP.. ok ok.. so you see where this is going.. back to the point.. Yes some people can and do start from the pits of society, the tax return recieving type, the balance my checkbook before I get gas type.. yes. And they can and sometimes WILL astonish you... My disregard and lack of respect for the market decided to turn on me, or maybe I turned on myself... either way.. You can start from almost nil... If you got what it takes to save 800 bucks to fund an account... you have what it takes to make it successful. Its knowing and respecting the beast you've never met thats hard to do. What are you gonna do WHEN your a MM managing OPM? thats the question, and the mindframe you need to manicure before you will ever get their. The truth is... can you handle a 10k loss/gain with no emotion when that represents 1% or less of your NAV?
