Managed forex accounts services advertise 15% to 50% per month return on your investment! At a time when achieving a 4% per annum return on your investment is considered to be pretty good? Something just doesn't add up!
Advertisements for forex investing are in your face all the time. It sounds so easy! Please note that forex trading is ultra high risk. If you ever consider it, don't invest any funds that you can't afford to lose. And if you are close to, or in, retirement don't even consider forex investing as an investment.
When forex investing started, before it became fashionable, I tried it. That was before I retired and I was realistic enough to recognize that I was making an ultra high risk investment. I didn't have the time to self trade nor to make a study of forex trading. So, I was relatively easily talked into investing in managed forex trading at the time, which promised unheard of profit potential.
Well, I didn't see any profit on this investment. In fact, when the investment capital was almost depleted I was contacted by the forex investing service to top up my account! I was level-headed enough to realize that managed forex investing borders on a scam, and I cut my losses.
Some ten years later, after retirement, I had the time to research and study forex trading. I thought I'll try my hand at self trading. I found a service with excellent training material and support, with an option to do free paper trading for a month. The paper trading could be extended for a small fee.
I really put a lot of effort into this venture. After two months of intensive concentration and diligent day trading I showed a loss on paper! I realized that forex trading, for me, was no different from gambling. And I don't gamble. It might work for other people, but it didn't work for me.
Over a period of fifteen years, in which forex trading became highly fashionable, nobody in my extended circle of family, friends, and former colleagues was successful in any form of active forex trading.
Another thing that bothers me about managed forex trading services is this: If a qualified and experienced forex trader can realize returns between 15 and 50% per month why would he or she make these profits for other people? Surely, it would be more profitable for that trader to trade for his or her own account? Unless the risk is so high that the trader don't want to gamble with his or her own funds!
This Web site is about retirement planning. It is my opinion that managed forex accounts are better left alone in your retirement planning.
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