OUR OFFER: BEST MONEY MANAGER
HOW FOREX MANAGED ACCOUNTS WORK
There are many Brokers that allow you to open managed accounts. This situation is more common than you may think, and the Metatrader platform has the multiterminal option , with which a trader can access several accounts simultaneously, so that when you perform an operation in your own Trading account, this operation it is replicated in the rest of the accounts that it is managing.
It is common for accounts managed in Forex, open in the broker that is using the trader of our choice, to avoid wasting time (opening positions in several brokers) that can be precious, depending on the operation that takes place.
When you open the Trading account, you deposit the funds in your own account, to which only you will have real access to the moneydeposited. At the same time that we open the account, we authorize the trader with a limited power of attorney, with which he can only give purchase or sale orders, but he will never have direct access to the account's capital.
The advantages of managed accounts are obvious to investors with less knowledge, has access to the currency market with certain guarantees of success.
There are all kinds of agreements and forms of management. There are traders who receive a percentage of the price that moves , in this case it is usually the Broker who pays the trader, but it is not the option that I like the most. An unethical trader, could perform many operations, just because he wins for the money he moves.
Other traders receive a payment, only if they get benefits. For me it is the most logical option, because effectiveness is rewarded, not the ability to open operations.
BECOMING A MONEY MANAGER
Remember that the important thing about becoming a good money manager is not the amount of money or income you receive, but the amount of money you are willing to save. Because the one who receives and spends everything, remains in the same situation as the one who receives little and spends everything, that is to say, they are left with nothing. Remember that saving is the source of the investment, and this one of financial freedom.
Expenses are classified as basic, desirable and luxury. The basic ones will not have discussion, the desirable ones will be able to be given in one that another case, but the luxury is better to avoid them. The main drawback is having the criteria and enough objectivity to classify your expenses in the correct way, because you can make small traps to include one or another luxury in your accounts.
The second aspect that you must watch to become a good money manager is budgeting. Everything in life needs a budget, even if it is a minor expense. When we talk about the budget, it refers to the previous contribution, to the justification of the expense, to the determination of an amount and maximum amount to invest. Budgets are based on real possibilities, considering real income, and real market conditions. To devote the necessary time to budgeting.
The third fundamental aspect to achieve financial freedom is investment, of which you must become your friend. You can start with safe investments such as gold or silver, to then gradually increase the risk with stocks and mutual funds, and you should not leave aside the forex investment in real estate that if you know how to do it can be very profitable. Everything is a matter of clinical eye to choose, and at the moment to buy and sell.
If you have assets, you must protect them, either with the appropriate insurance to protect your assets, or with a broad portfolio to protect your investments. The risk should not be left to free will, but the smart thing is to reduce it to an optimal and manageable point.
The money manager is not a luxury but a necessity, so put the batteries so that the savings, the management of expenses, the budget, the investment, and the protection of the assets, are put on your side and become your allies
WHAT YOU SHOULD KNOW BEFORE INVESTING IN FOREX
As an investor, you need to value all the variables that are enclosed in the context in which you are, this to ensure that your forex investment earns profits and does not lose them, nobody absolutely nobody in the world should invest without first investigating about what is investing, this to avoid setbacks.
Each economy has factors that determine the health in which it is located, these data generate a great possibility to measure the feasibility of a forex investment and massify the benefits.
Among the factors that must be monitored are:
1. Economy growing:
One of the main points is the growth of the economy, this can be seen in the Gross Domestic Product (GDP), which is the indicator of all the goods and services that the country has, this means that we will draw from the forecasts that they had of the GDP, if at present the GDP is higher than what was predicted; The result will be that the currency will rise in price and it is profitable to buy. but if the GDP is lower than the forecast then logically the currency will fall in price and it is not advisable to invest in it.
It should be noted that if GDP grows too high, it may be because there is tension due to inflation and / or other measures that will only contribute to causing a crisis.
This can be seen in the interest rate that a currency has, a high interest rate will make this currency in the future more profitable whose index is seen month by month in the central banks of each country, it reviews the interest rates and stay with the discharge, it will give you results.
3. Growth of the industry and the field:
It is not very difficult to analyze that if a country achieves a good growth in the levels of production of the field and of manufacturing, it will achieve that its currency appreciates more.
4. Balance of trade:
This is one of the most important indicators, since it gives us the guideline to know the fluctuations, this is so, if the balance registers a commercial surplus; the currency will appreciate to stimulate imports, but if it registers a deficit it will depreciate to stimulate exports and look for a balance in trade, if you know how to appreciate this data it will be very good for you.
5. Stock Exchange:
The stock market brings together many indicators of the country that are reflected in its index, if the stock market works upwards compared to the previous day is synonymous with something good happening in the country so it is highly advisable to invest in foreign currency from a country with a good level of stock market growth.
6. Employment statistics:
Employment is the engine that drives the economy of a country, if a country has a high level of unemployment is synonymous with poor public and economic management of a country so my suggestion is not to invest in countries with high unemployment .