Do you know you can invest in forex trading and get monthly profit without trading by yourself? It is straightforward to make money from forex trade if you are an experienced trader convergent with analyzing the market and technical charts. But not everyone is an experienced trader or even good I reading and understanding technical indicators. Still, that doesn’t mean that you can’t make money from forex trade simply because you are a novice. This writing will enlighten you on how to make money from forex trade as a novice.
So how do you make money from forex trade as a novice? Simple by investing in forex trading and get paid monthly profit on your investment. All you need to do is to look for a reliable and experienced trader who can manage a trading account for you, and you can both decide to share the profit generated from the trading account. Just sit and relax while your account manager handles the trading on your behalf.
You should know that it is not easy to find an experienced broker who is 100% reliable and can generate good returns on your investment. So how can you find an experienced trader that is reliable? Try using social media. There are a lot of guys on social media who have experience trading in the forex market some of these guys are offering their services to trade for a client in return for an agreed percentage of the profit generated as their payment.
Like I said earlier, some of these guys are unreliable so you have to be very careful when choosing your account manager as this will directly have an impact on the amount of profit you can make on your trading account.
What to look out for when choosing your account manager
There are certain things you need to look out for when you want to select your account manager for your trading account.
The first and most important attribute you should loot out when choosing your account manager is the level of experience he or she as acquired trading forex. Interview applicants and choose the one with the highest number of years trading forex. I often advise my students to go for a manager that has at least ten years of trading and account managing experience. This is because the more experience a trader has trading forex, the more he or she has acquired ideas on trading. After all, they say experience is the best teacher.
With an experienced trader and account manager, you have a higher chance of making more money from your investment. One downside with an experienced trader and account manager is that the more the experience, the more the commission he or she will demand from you. But still, it is better to pay more in commission and make more money, than little commission and end up losing your investment using an inexperienced trader.
Deposit amount requested
When choosing an account manager, consider the amount of money he or she requires you deposit before he or she can manage your trading account. I usually advise my students to choose an account manager that is ok to trade with any amount of initial capital you decide to deposit into your trading account. Your account manager shouldn’t be the one to determine or dictate the amount of money you will deposit into your trading account. Avoid such account managers.
Also, when choosing an account manager, go for the one that will agree to start trading with little investment say $100 upward. Stay away from those that will ask you to deposit $10000 and above. Starting will a little capital will afford you the opportunity to know your account manager trading abilities without having to commit high revenue to in case of loss.
Another thing you should look out for when choosing an account manager for your trading account is the percentage of profit he or she demands as commission. Choose the one that will agree to take the lowest percentage of the profit as commission. Some account managers will demand to share the profit 50-50. Stay away from such account managers. They are greedy fellows and are not trustworthy.
When negotiating the sharing formula for the profit, insist that you take at least 70% while your account manager goes home with the remaining 30%. Don’t work with any manager that does not agree with this formula. Granted they do the trading. But it is your money that is on the line in case of loss. Therefore you should take the more substantial portion of the profit.
These are some the attributes you should look out for when choosing an account manager for your trading account.
I know by now you must be wondering how to fund your trading account and how secure is the account. You will be asking what if my account manager runs away with my money? This is not possible because most brokers have a policy whereby only the card or payment wallet use to fund the account can be used to withdraw money from the account. This policy is to checkmate fraud. As a result of this policy, your money is safe as you will be the one to use your credit card or payment wallet to make deposit and withdrawal from the account. When depositing, use your credit card or payment wallets like skrill, Neteller, bitcoin etc.
Now that you have been enlightened on how to invest in forex trading and get monthly profit without trading. Go out now and choose a good and reliable account manager to manage your trading account and start making a steady income from forex trading without having to stress yourself. Let your account manager do the trading for you while you take home the profit. Happy investing and welcome to the forex millionaires club.