I'm looking for any experienced forex traders to trade my accounts with profit split. I am a trader myself but am cutting back on my trading hours and am looking for others to fill the gap. I am based in the US. Ideally, I'd like to find someone who trades on their own and has the capabilities to trade an additional account. Will need to see some historic trade records. Exact trading strategy not important to me but appropriate risk management is. Please PM me if interested. Thanks.
I would definitely be interested. I have my method down pat and i have been tweeking my risk management over the last couple of months. The most important aspect of trading to me now is Risk Management. I am confident that I can maintain steady gains with a relatively low drawdown over time. My goal is 20%-40% per year with less than 10% max drawdown.
The discussion is more complex than that and they definitely don't perform miracles. Just good steady consistent returns. You can't see them in all the I do a gazillion pips a month systems we have here.
You'll need enough money, enough patience and enough knowledge to know when you're being managed properly.
99% of people looking for managed accounts are unrealistic in their expectations. But at least one of these dudes aren't really interested in anything less than $25k and certainly would look at me funny if I sent the masses to him.
From the money managers point of view he needs a sophisticated client, or it just adds cost to the enterprise. There's a cost associated with every adjustment a client makes associated with the portfolio. You get a small fry withdrawing all the time or changing deposit amounts, the entire portfolio pays for that, i.o.w all the clients pay for one pleb.
The money manager that takes everyone and everything or gives 'tailored performance' based on your risk profile, is not the one you want. That is the money manager that doesn't understand yet what the costs are, and even worse let's client dictate the performance and thus risk. Client is looking for management, so already he doesn't understand risk or he'd be trading.
It's really important to match the right client to the right manager. So it takes more than just dumping some names down.
Elkart posted: It's really important to match the right client to the right manager. So it takes more than just dumping some names down.
Main problem with money managers are that they can setup hundreds of off-shore companies and hedge funds and only show you the funds that make money leaving out the losing accounts. They setup 100 EA's and let it trade these 100 funds automatically.
You would need to get this fund managers audited tax return, what is he trading for himself. He must be able to show his 50 losing and 3 winning accounts in his personal name, the same losing accounts he shows the tax man. If he can't do this then the only way to quantify his trading skill would be a single https://www.stocktwits.com account that is at least 1 year old . Stocktwits don't allow sock puppets on their servers.
Takes money to do that IBC, it's about $5000 now. I don't think the EA dudes are bothering with that. So hundreds of offshore companies are out.
Don't think it happens as much as you think it does. I agree with a good due diligence though, but on a PAMM account you still have enough control to take a chance as you don't hand over money to a third party.
Scams are perpetuated at all levels as Madoff proved. Even slips by the best. Best defense - stay awake, diversify, use your brain. And if it's to good to be true, it is....
Elkart posted: Takes money to do that IBC, it's about $5000 now.
It does take $5000 to open an offshore account which for a firm like https://www.myfxbook.com/members/WhyLose is no problem because he does it with other peoples money. He lists three winning accounts, the other 134 losing he doesn't tell us about.
On https://www.whylose.com/ he writes '...Our blog posts some of the trades we make automatically via our Trade Copier....' We want to know about all the trades from all the accounts with the net gain or loss as % of equity employed. He lists three winning accounts each with a deposit of $3000, $3000 and $10000 for a total of $16000. This is a ridiculously small amount for a hedge fund trading forex and futures. It should be obvious that he informing us only about his winning accounts not those pesky losing accounts.
Now obviously I don't know how many losing accounts he has, that would be his problem as per the principle of falsifiability since he is making the claims.
Account GForce2 made nearly a 100% return on futures with a minimum account opening of $15000. A $100 account is meaningless because it doesn't simulate the emotional ups and downs of actually making $15000 as opposed to a $100. The small concern is that the Robbins world cup trading championship allows one to open multiple accounts and then only inform us about those that made money. Note that this is the only trading championship that is legit . The one for example that https://www.spyglasstrading.co.uk/ Mike Baghdady won doesn't exist. He can't produce even one real account statement yet people are paying him $9000 for courses. A money manager, mentor or trader must be able to provide either a real statement or third party verified signals such as collective2.com, stocktwits.com etc.
stephanusR posted: Account GForce2 made nearly a 100% return on futures with a minimum account opening of $15000. A $100 account is meaningless because it doesn't simulate the emotional ups and downs of actually making $15000 as opposed to a $100. The small concern is that the Robbins world cup trading championship allows one to open multiple accounts and then only inform us about those that made money. Note that this is the only trading championship that is legit . The one for example that https://www.spyglasstrading.co.uk/ Mike Baghdady won doesn't exist. He can't produce even one real account statement yet people are paying him $9000 for courses. A money manager, mentor or trader must be able to provide either a real statement or third party verified signals such as collective2.com, stocktwits.com etc.
If the only capital you can risk is $100 or say $1000 you gonna have same emotional ups and downs. For some people $15000 is a pocket money but for some $200 is scared money. you forget to think that not everyone can have such means to trade but nevertheless can be good trader.
He lists three winning accounts, the other 134 losing he doesn't tell us about.
Logically this does not make sense. If you are managing accounts, you are not trading the accounts individually, but using a bridge to open the same trade across all the accounts. If you make one lose, that lose is distributed across all the accounts. Therefore, 3 winning accounts would display that however many accounts are being managed, all the accounts would be at a profitable.
Also, as I have stated before, and other members have stated above this post, $ amounts are subjective to the emotional connection to the $.
Hi, I am an account manager using the Oanda FXManager platform. My basis plan is a consistent as possible 1% profit per trading day, for about 200 trading days a year. Fees on net monthly profit % basis. My system is 'Buddha is my auditor (DGP)'. To join you would have to open an Oanda FXTrade account. If interested, please drop me a note at my system page or email me at [email protected] I tolerate minimal initial deposits for testing puposes. I do not trade other accounts than my Oanda manager account.
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