Forex trading managed accounts
System or Strategy, What’s The Difference? 7 Things You MUST Know about Forex Candlesticks! It is undoubtedly the most advanced of such options, because once you have set forex trading managed accounts the managed forex account with the vendor it is basically set and forget.
The account manager takes care of all the rest: market research, entering and exiting trades, risk and trade management, general account management etc. You pay for this service by various methods, e. Once more, it is imperative for anyone considering such a style of trading to do their own research with respect to these costs, not to mention the reputation and track record of the forex managed account team. This is because the major source of their income generally comes from taking a cut of the money they make for you. This should be a powerful incentive for the forex account manager to trade your account diligently and successfully. With automated forex trading software you are responsible for the management of the actual system: set up, maintenance, monitoring etc. With a managed account this responsibility is taken off your shoulders and rests with the forex account manager.
With managed accounts you are paid the profits from trading after fees have been deducted. In this case you will potentially be earning less than if you had run a robot yourself, although it could also be argued that a manager will do a better job. Account Managers are conservative by nature compared to automated forex trading robots. Following on from the last point is the converse of the risk to reward ratio: the percentage of profits you will make in any given period will be less with the conservative managed forex account than you could expect with automated forex day trading. What are the total costs involved in setting up an account? What are the ongoing costs involved in having the account open? What percentage of profits does the account manager retain from your account trading?