The Importance of a Fund Manager
By: God is Love | Posted: 19th October 2010
THE IMPORTANCE OF A FOREX FUND MANAGER
Who Is A Forex Fund Manager
True, the forex market is a risky and dynamic market that tests continually your sense of discipline and self control at all time. Most people who setout to start a career in currency trading fail not because they lack a profitable trading system but because they lack discipline to follow the method through.
When a individual recognizes the immense opportunity in the market but can not profit because of the above or other reasons, he entrust his funds to another who can trade profitably with his money and bring returns or share proceeds on percentage basis. The later is the fund manager.
Fraud, Security, Fund Protection etc etc
Because of the way forex trading accounts operates, it is impossible for there to be fraud especially on the part of the manager.
Why? Because when a prospective client wants to entrust his funds to a manager, he
1. Register a trading account with a broker of his choice using his personal email address.
2. Request or instruct the broker that any withdrawal should be confirmed by a call from the client. And
3. That all withdrawals should be IP Address protected.
When the above is in place, or done, there is no way an otherwise fraudulent fund manager who only trade with your account number and password can part away with any dime of client money. Based on their agreement, only the client will be able to withdraw profit made and fund manager’s percentage paid into his coffers depending on their location.
Who Can Be A Client
Anybody from any part of the world can be a client to any fund manager anywhere. This is one of the business transactions this is not limited by hemisphere or location. The Point of caution however is that a prudent client would not entrust a huge sum to a fund manager for a start. Rather, the initial deposit and trading lots should be small. For instance, a client can open an account with $200 - $500 and agrees with his manager not to trade above $1 lot for a start to enable him access his performances. If the money is on a constant decrease for days, the clients can fire the manager by simply changing his trading password before sending him a mail why he has done that. And such password can not be retrieved by the manager of the fund.
Because of this, only prudent and good fund managers accept agreement to handle or manage others funds [no man wants to work in vain]
Where Are The Fund Managers
There are managers of funds who already manage several accounts with experience, and there are others equally very good, who have learned the secret of the trade wanting to start a career in this area. The only thing a prospective client has to do is request for the services of one.
What Is more
So many people keep their money in the Bank, which ok. But bank money yields you little or nothing. But smarter people are investing their only to yield increase that no bank can offer anywhere. The safest truth here is that a good fund manager can grow a $200 - $500 account to thousand of dollars while still compounding equity despite periodic withdrawals depending on the agreement.
THE RISK HERE IS BELLOW TEN PERCENT.
Life is full of opportunity and only those who see can explore and enjoy them.This article is free for republishing
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Tags: prospective client, initial deposit, caution, business transactions, proceeds, discipline, self control, withdrawals, forex market, currency trading, profitable trading, coffers, trading accounts