I'm planning to invest and I'd love your input

[Stefan16]

Hello all

I'm planning to invest in forex, probably via copying trades, or having a fund manager trades my account, or other means.

My main concern now is separating the offers to find at least a decent one to take. Any suggestions on how to check these things out is highly appreciated:
- trusted: how to know if he actually trade for profit and not only after commission
- credibility: how to know if he actually has the capabilities to trade and generate profit
- reasonable profit percentage? Is 10% per month is asking for too much?
- should I go for the monthly paid one or the one who ask for profit sharing?
- how much is considered safe initial investment? Is $1000 too much? Too small?

If there's more feedback/suggestion that I did not ask above, please do

Thank you

 

[AsstModerator]

As long as this remains a general discussion of what to look for in a copy trading environment, it is fine to keep the discussion here in General Forex Talk.

If anyone wants to start comparing specific companies offering this service, that discussion should be done in https://www.forexpeacearmy.com/community/forums/forex-company-comparisons.127/

 

[Aubrey Aubrey]

Actually I am not clear with your requirement. What elements you are looking for a copy trading. Trusted trading environment is very important for any sort of trading. It could be known by using their demo platform. And most of the answer of your question is using demo trading account you will understand its credibility or is it good for profit making or not. But initial investment is totally your decision.

 

[Stefan16]

As long as this remains a general discussion of what to look for in a copy trading environment, it is fine to keep the discussion here in General Forex Talk.

If anyone wants to start comparing specific companies offering this service, that discussion should be done in https://www.forexpeacearmy.com/community/forums/forex-company-comparisons.127/

Thanks for the advice, for this thread I'm looking for advice on how to identify a trusted one rather than having a specific brand suggested to me.

Actually I am not clear with your requirement. What elements you are looking for a copy trading. Trusted trading environment is very important for any sort of trading. It could be known by using their demo platform. And most of the answer of your question is using demo trading account you will understand its credibility or is it good for profit making or not. But initial investment is totally your decision.

thank you for the advice. To be honest i'm hoping for some tips to "read" displayed data on copy trade/fund manager history/portfolio. What number is realistic, what to avoid and so on.

By using demo platform you mean go to MQL5, list some high rated signal and attach demos on all of them to see how is it doing?

 

[Morten]

I always appreciate people who want to join Forex as it requires guts to be a trader. If you are a newbie then you need to work hard for competing other experienced ones. If you have the experience then you need to trade according to your strategy on the Forex market.

 

[Ken Smith]

Hello all

I'm planning to invest in forex, probably via copying trades, or having a fund manager trades my account, or other means.

My main concern now is separating the offers to find at least a decent one to take. Any suggestions on how to check these things out is highly appreciated:
- trusted: how to know if he actually trade for profit and not only after commission
- credibility: how to know if he actually has the capabilities to trade and generate profit
- reasonable profit percentage? Is 10% per month is asking for too much?
- should I go for the monthly paid one or the one who ask for profit sharing?
- how much is considered safe initial investment? Is $1000 too much? Too small?

If there's more feedback/suggestion that I did not ask above, please do

Thank you

Welcome to the investment world. Are you well prepared? Have you developed any trading strategy? Or you just use random trading strategy? What's you risk reward ratio? Do you have anything specific? Do you follow any risk management system? If you don't have valid answer to all these questions, you are doing it wrongly years after years.

 

[nahiyar]

I Also think those who are interested in forex should try it after necessary training. Then they can easily decide about investment plan where and hoe much to invest. mostly is prefered to use micro accounts to gain experience . My initial input was less than $200 it was quite enough to manage and knowing how I am performing with it. I also keep me away from high loss.

 

[Whitesnake]

Well to answer your questions, if you prefer to copy trades or use a fund manager knowing their track record is very much important. However, the past success is not a guarantee for the future returns, but generally that is how the fund managers are selected. $1000 is decent enough to expect 10% income of which will be $100.

 

[Talar]

You are doing it entirely wrong anyway for all possible reasons. Let's clearly say following you can't do the same if you need something like copying other people absolutely and possibly. So let's move out entirely.

 

[sebking1986]

I would avoid fund managers and copy traders as finding a reliable one is so difficult with so many scammers out there. Much better to invest your time and energy into learning for yourself