by Admin on May 14, 2008 · Filed Under: Forex Trading
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Forex managed accounts service is, perhaps, one of the most popular and lucrative niches on the Forex market. This is the choice of people who have money, but do not have time or skill or desire to trade the money.
If you are one of the people - be aware that you are one of the most hunted for people on the Forex market for Forex traders, Forex brokers (who often have Forex money managing as their affiliate business), and companies that lurk on the market.
Without getting into much details, because we have been mentioning this many times before in these Forex tips about choosing trading signals and these best Forex investment scam proof tips, we just want to say in general - do not trust things like testimonials, recommendations on forums, trade records (unless in the version specified further in this post), because there is a probability they are just marketing and affiliate stuff.
What is a much better thing to check is the so-called trading history WITH entry and exit points indicated. This is crucial - with entry and exit points on any single trade.
I can write in 5 minutes a list of my trades that seem to go up and down, but finally give me 10% per day. But this can be a fake. When you see entry and exit points, you can see if that was really happening on the market. In other words, you can follow the potential manager of your Forex money step by step. This lowers the chances to cheat you.
The best example can be a daily update with entry and exit points and trade results - you see what happens in real life.