Currency Trading Tips: The Key Benefits of a Forex Managed Account. By: Jay Molina From: http://myfxinvestment.com/ Trading the Foreign exchange market takes lots of dedication, patience, and sometimes even a little bit of luck. Unfortunately, most traders have a very hard time putting it all together and staying focus. For this reason many people decide to get a professional Forex trader to manage their money with a Forex managed account. Busy people find having a Forex managed accounts as one of the best decisions they have ever made. In this part of my currency trading tips series I’d like to talk to you about the main benefits of having your trading account managed by a professional Forex trader. Reliability and Convenience: When you invest in a managed Forex account you will be making a transition from a Forex trader to a Forex investor. The difference between these two is that as a Forex trader you will need to spend lots of time analyzing the markets and taking trading decisions. As a Forex investor you only monitor and supervise your investments, you don’t do any of the trading and you never worry about your trading account. This can be incredibly convenient for people who want to take advantage of the Forex market but don’t want to or have the time to trade. No more headaches or worries about your trading: Trading can be very stressful when you are just not succeeding at it. Some people might experience high levels of stress, fear, and even greed from trading loses. When you open a managed Forex account with a professional Forex trader you no longer have to deal with trading and its psychological effects. The main goal of a money manager is to help you profit from the Forex market while you free yourself from the monitors and the stressing (and many times fast paced) trading life. Select the amount of risk and returns you expect from your investments: Most money managers allow you to choose the amount of risk you are comfortable with. Everyone is different and your risk tolerance is different than mine or other traders. This is why you are able to choose the amount of risk you are willing to take.
You need to also remember that the higher your risk the higher your potential profits and losses. In addition, many money managers will offer 3 or more types of accounts. For instance, some money managers offer an account for conservative investors, then another one for people with a higher risk tolerance, and one for those you are risk takers and would like to make bigger winnings and losses. Create an automated income stream from Forex trading: As a Forex investor your trading venture is mostly automated. You have a money manager you takes care of all the trading, a broker who manages all the payouts to you and your money manager, and you receive performance reports every month. Having an automated trading business can provide you with incredible amounts of freedom, self accomplishment, and free time to spend doing other things. A managed Forex trading account could be just what your investment and retirement portfolio need to reach the profits you always have dreamed of. Best regards, Jay Molina Pro Forex Trader & Educator
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Published on May 21, 2011
learn the main benefits of having your trading account managed by a professional Forex trader.