Managed Forex Accounts Versus Automated Forex Robots
Forex trading can be fun and extremely profitable; it's nice to be able to watch your money grow as you trade foreign currencies. Managing you Forex accounts can be difficult if you are holding down a full time job or you have many accounts that you are working with.
The one option that you can do if you want your money to work when you don't have to is the Managed Forex account. The principle is simple - you just deposit your money and the account does the trades for you!
You will have a professional full time trader who is experienced in FX trading manage your money for you. This is true "Autopilot" The broker will decide what to buy and when to buy it. Similarly, he will know what to sell and when to sell it.
Some people like the idea of a "live" person making decisions. Understand it's still your money and you can decide for yourself when to buy and sell also, and when to withdraw it. It's a common belief that these are better than automated Forex robots, or automated software, since they can make more complex decisions.
The best way to get into managed Forex accounts is to just try one out. You can decide to put in a small amount and try it for a month. Be sure to find out what the trade fee's and broker fee's are before you sign up.
The minimum deposit can range anywhere but is commonly about $1,000. This is one thing that turns off a lot of people for these accounts is that they require a larger sum of money than most beginner traders want to invest. If you want to be a big mover and shaker in the Forex market, it's best to spread your investments around. Use some to trade yourself, and open up a few managed accounts to let your overall money grow. - 23305
The one option that you can do if you want your money to work when you don't have to is the Managed Forex account. The principle is simple - you just deposit your money and the account does the trades for you!
You will have a professional full time trader who is experienced in FX trading manage your money for you. This is true "Autopilot" The broker will decide what to buy and when to buy it. Similarly, he will know what to sell and when to sell it.
Some people like the idea of a "live" person making decisions. Understand it's still your money and you can decide for yourself when to buy and sell also, and when to withdraw it. It's a common belief that these are better than automated Forex robots, or automated software, since they can make more complex decisions.
The best way to get into managed Forex accounts is to just try one out. You can decide to put in a small amount and try it for a month. Be sure to find out what the trade fee's and broker fee's are before you sign up.
The minimum deposit can range anywhere but is commonly about $1,000. This is one thing that turns off a lot of people for these accounts is that they require a larger sum of money than most beginner traders want to invest. If you want to be a big mover and shaker in the Forex market, it's best to spread your investments around. Use some to trade yourself, and open up a few managed accounts to let your overall money grow. - 23305
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posted by Mr. Forex at
4:49 AM
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