foreign currency exchange market
In the caser of “mirror” or “social” trading, you may pick an expert or anyone else in the broker’s network and then emulate his trading decisions. In order to use these options, you may still be confronted with the need for experience and emotional obstacles, and for these reasons alone, you may find the managed forex account an exceptionally alluring offer. A managed forex account allows a professional manager or someone who claims to be so to trade your funds on your behalf for a salary or a fixed share of the profits. You may select a specialized firm for this purpose or a broker that offers a sophisticated software feature that permits your account balance to be traded by an expert. The latter service does provide an extra level of risk protection. You must always be careful in selecting a money manager that you can trust and that has earned a good reputation in the industry. While most money managers are legitimate, there have been several notable scams in the past a few are discussed below. In many other cases, an enterprising person will setup a firm advertising his services to clients and will trade their funds on an independent basis. This second type of manager and the dangers created by associating with him is the subject of this article. There are a number of advantages that a managed account offers to the trader. Experience, which can only be gained through long term involvement in the markets, is the only asset that can reduce or even negate the large risks associated with currency trading.
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foreign currency exchange market