Australasian Association for Information, Communication Technology

Australasian Association for Information, Communication Technology

Is managed account the ultimate solution in forex trading

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Is managed account the ultimate solution in forex trading

Traders are always wanting to find a safe side of forex trading. Unfortunately, this type of way does not exist in forex. When you are trading in Forex, you have to take risks to make a profit in forex. There are also many big losers in forex who are trying to take people’s money by showing them it is very easy to trade in Forex, they can get a professional tool installed on their computer which will tell them where the price level will be, they can also tell when to make trades and show the expected market trend in this software. Most of the time, traders loses money when they trade based on other people trading decision. Another popular way of misleading people in Forex is trading in managed account.
Managed trading account
Managed account means the brokers will trade in your account. It is like you are giving money to someone and he is trading in your account. In managed account, you are acting only as an investor and taking a part of your profit that your broker made in the market from your account by placing trades. You will not get the 100% profit of your trading as the broker will charge a percentage of your profit. But do not get this idea that every day you will be making a profit in Forex. These brokers also lose most of the time, and they have also their own account to trade in Forex.
No, it is NOT a safe way of trading
Managed account is not a safe way of trading in forex. In fact, the professional Aussie traders are always using their forex trading account Australia to trade the live assets based on their own technical analysis. In some ways, it is safer than trading in the market for yourself. Brokers who trade in the managed account do not trade with precision as they do not bear the loss, but only the profit. Moreover, there are also many scam brokers in Forex who tell to provide a return of your trading money in Forex profit. These brokers are very bad and they can take all your money. So when you deposit your money for trading make sure that you are trading with the reputed broker like Saxo to get the best trading experience.
If you are thinking to give managed account to a famous broker, it is also a no. You are investing in Forex to make your own money. It is not a short time profit that you will make for one month and quit on the next. Try to learn from Forex by trading yourself and if you lose do not stop trading. Losing is the way how traders learn the trading of Forex market.
Learn the market basics
The professional traders always suggest the novice traders learn the trading art by reading books and many different articles. If you truly want to succeed in forex trading then you need to spend some quality times in reading. Most of the new traders find it extremely difficult at the early stage of their trading career to make money in the market. But if you trade with patience and learn the basic trading skills then within a few months you can also execute high-quality trades just like the professional Australian traders. As a trader, you should also learn the art of price action trading strategy since it is one of the easiest and profitable ways to trade the live assets.