If you do not consider any of the above, you are putting your capital at risk.
now i will explain about managed account service:
When you found the system that you want to invest :
* its better to join MAM projects ( if the owner provides ) . Sign LPOA agreement. * sometime manager is not providing MAM . And wants to manage it directly. Before the start of trading: 1- deal on Maximum allowed drawdown ( must be equity based calculation ) 2- Give him your capital to manage under the rules. 2-1 simply ask your broker to disable trading when your account hit a specific risk level, for example 5% lose in a day. 2-2 always run an EA on your account to close all open positions on +1% above the number you deal with the manager. 2-3 in case of hitting maximum DD allowed . Stop it and communicate with your manager. * i will share my own EA soon to control your account which is under management . 3- monitor trading style, it must be similar to the main account. 4- never pay any to the manager when there is floating lose or profit on your account. You pay when the account has no open orders. * Never consider or calculate floating profit because In the blink of an eye, the situation can change. 5-Supervise for at least 1 month before increasing your investment. 6- sometimes they ask you to join the brokerage that they prefer. 6-1 check post #1 section 3-1 . If the broker passes that. You can join. 6-2 never ever join any unreliable brokerage.
Thank you for giving the valuable advise. Yes you are right. We need to follow this tips and rules before strating forex trading. Trading is a risky business. Some people said that they loses their money on forex trading, but first they need to know what is forex and how can they earn from trading. I think some people don't know this ans they were loses their money. Knowledge, technique, practice, research, communication, find good buyer all these things needed for trading. For Its right that we need to follow abd read this tips and rulea before starting trading.
• Why do some accounts have multi digit unreasonable growths ?
Here i explain a method that most of them use:
They do deposit small amount to an account, and then they enter a position In a random direction. * some of them enter long and short on different accounts, and choose the account which has profitable position. Then they do withdrawal buggiest part of the account’s balance . *as withdrawals while having open positions is ignored , they do an internal transfer. * estimated free margin because of that profitable trade will save the account from margin call. Then they close position in profit, And this simply opposing growth calculation algorithm. * some of them repeat this pattern over and over again. So you can see many withdrawals in their accounts. * Most of them are hiding their accounts equity/balance and trading history by making them private.
i have seen so many traders always looking for a huge investments to kick off Forex. Sometimes they can get maximal result and sometimes they become loser despite of sufficient balance. So what you thinking which is more important , sufficient trading amount or good trading knowledge
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.