A managed forex account is where a professional trader/money manager manages the trading on the clients’ behalf. The account is made up of a personalized portfolio owned by a single investor. The portfolio and account is handled accordingly to the investors needs. An investor may advise the money manager on strategies and signals to look for while trading on his behalf. An investor may do this to take themselves out of the equation and trade without the psychology and emotions that come with wins and losses. On the other hand, some clients simply choose to let the brokerage/money manager trade the account based on their own systems and strategies.
Forex managed accounts can be compared to traditional investment accounts of equities and bonds, in the way that an investment manager handles the trading logistics. In no instance can a money manager withdraw or add funds to the account, they are granted trade only access to the account, and the investor has full control over their account. Money managers charge a fee or commission for managed accounts, so it is important to research a variety of options, as their prices can vary greatly.
For some people trading is easy, for some people it is very tough. It is fully depend on the knowledge and techniques trader has. If he can do all the trade very sharply it will be very easy to make profit. But those who can’t deal the trade simply with their mind they may face difficulties in forex market. Sometimes some trader feels the trade tough just because of their broker. Broker plays an important role in trading. In my trading career, my broker Tpglobalfx helps me to make the trade easy. They give all kind of facilities I want to make my trade.
I think too many struggling traders are focusing 90% of their time on strategies and charts, while spending 10% on gathering knowledge. I reversed this equation and spent more time on gaining knowledge than anything else. My broker Eurotrader educational resource also helps me lot to gather knowledge about forex market. I also follow some expert trader analysis to increase my knowledge.
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