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Managed Forex Accounts
Extrapreneur
#1 Posted : Thursday, August 26, 2010 8:13:42 PM
Rank: New-farer

Joined: 7/26/2010
Posts: 25
Location: Nairobi
I have been reading through a couple of posts and one of the most honest yet brutal is one where a new farer inquires on learning forex and the answer given was that you have to give yourself at least one year to learn forex otherwise, your capital would be wiped out. Very honest, but not the entire story.

Getting a managed account can be one of the best ways to get into forex without having to learn it yourself. I mean, just because you are sick does not mean it is time to enroll in med school, now does it? There are many forex gurus out there (no pun intended)and they have some pretty hefty experience.

Nevertheless, what do you think of having someone else, who has the requisite experience, to manage your account for a small margin of the profits? Does experience = less losses + more profits? What defines an experienced and able account manager? Would you, as an experienced forex trader, manage another persons account with all the attendant risk involved?


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The Merchant
#2 Posted : Tuesday, August 31, 2010 4:12:10 PM
Rank: Veteran

Joined: 5/24/2010
Posts: 846
Location: KENYA
Extrapreneur wrote:
I have been reading through a couple of posts and one of the most honest yet brutal is one where a new farer inquires on learning forex and the answer given was that you have to give yourself at least one year to learn forex otherwise, your capital would be wiped out. Very honest, but not the entire story.

Getting a managed account can be one of the best ways to get into forex without having to learn it yourself. I mean, just because you are sick does not mean it is time to enroll in med school, now does it? There are many forex gurus out there (no pun intended)and they have some pretty hefty experience.

Nevertheless, what do you think of having someone else, who has the requisite experience, to manage your account for a small margin of the profits? Does experience = less losses + more profits? What defines an experienced and able account manager? Would you, as an experienced forex trader, manage another persons account with all the attendant risk involved?




So who are you recommending sir?
Extrapreneur
#3 Posted : Wednesday, September 01, 2010 2:46:59 PM
Rank: New-farer

Joined: 7/26/2010
Posts: 25
Location: Nairobi
Actually, it's an open question, or a number of questions. I know you know quite a bit about trading forex,would you consider managing an account for a commission on your takings?
Join the discussion on the first freelance community network in Kenya. If you'd like your blog included on the site, kindly email it to me at info@penwiseassociates.com or simply join the discussion in the forum section

The Merchant
#4 Posted : Wednesday, September 01, 2010 3:05:55 PM
Rank: Veteran

Joined: 5/24/2010
Posts: 846
Location: KENYA
Extrapreneur wrote:
Actually, it's an open question, or a number of questions. I know you know quite a bit about trading forex,would you consider managing an account for a commission on your takings?

Yes I would.
Extrapreneur
#5 Posted : Wednesday, September 01, 2010 3:19:03 PM
Rank: New-farer

Joined: 7/26/2010
Posts: 25
Location: Nairobi
The Merchant wrote:
Extrapreneur wrote:
Actually, it's an open question, or a number of questions. I know you know quite a bit about trading forex,would you consider managing an account for a commission on your takings?

Yes I would.


How can I contact you? email me at the address in my signature so we can talk.
Join the discussion on the first freelance community network in Kenya. If you'd like your blog included on the site, kindly email it to me at info@penwiseassociates.com or simply join the discussion in the forum section

The Merchant
#6 Posted : Wednesday, September 01, 2010 3:48:46 PM
Rank: Veteran

Joined: 5/24/2010
Posts: 846
Location: KENYA
Extrapreneur wrote:
The Merchant wrote:
Extrapreneur wrote:
Actually, it's an open question, or a number of questions. I know you know quite a bit about trading forex,would you consider managing an account for a commission on your takings?

Yes I would.


How can I contact you? email me at the address in my signature so we can talk.


Okay Il send you an email shortly.
The Merchant
#7 Posted : Wednesday, September 01, 2010 5:02:27 PM
Rank: Veteran

Joined: 5/24/2010
Posts: 846
Location: KENYA
@EXTRA...CHECK YOUR EMAIL.
Mitaji
#8 Posted : Monday, September 06, 2010 5:08:08 PM
Rank: New-farer

Joined: 9/6/2010
Posts: 12
The most important aspect of learning Forex are persistence and patience.Do not trade borrowed money. Ever!I would say two years demo trading then open a micro account on year 3. Micro accounts allow you to get your feet wet without drowning. Contact me if you need any more info regarding forex.Don't want anyone going through what I did.
The Merchant
#9 Posted : Monday, September 06, 2010 6:07:28 PM
Rank: Veteran

Joined: 5/24/2010
Posts: 846
Location: KENYA
Mitaji wrote:
The most important aspect of learning Forex are persistence and patience.Do not trade borrowed money. Ever!I would say two years demo trading then open a micro account on year 3. Micro accounts allow you to get your feet wet without drowning. Contact me if you need any more info regarding forex.Don't want anyone going through what I did.

Applause Applause I agree completely. Please learn before you risk too much capital. The market rewards the best trained and punishes the rest brutally!
Mitaji
#10 Posted : Tuesday, September 07, 2010 2:35:28 PM
Rank: New-farer

Joined: 9/6/2010
Posts: 12
Kenyans need to control their greed. The reason Forex managed accounts may have burnt people fingers is that guys are hungry for quick returns.I laugh when people ask me 'how much can I make per month?' So I'm looking at the guy thinking 'its a goddamn market!' doesn't quite follow your monthly cycle. Like any other tradeable instruments, currencies have up-trends, down-trends & ranging periods. The advantage with currencies is that you can be long or short,so you may trade in any of these situations, hence more trading opportunities. So with good risk management a successful Money manager will give you yearly return that NSE traders can only dream of.Just make sure you agree on what risk level you are willing to take.Then think per annum returns in forex and you'll go very far.
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