the recession!
By Bensmom
@Bensmom (61)
Ireland
December 30, 2008 2:13am CST
How are people getting on? Is it just me or are others starting to find things getting difficult out there. My accounts seem to be getting tighter and tighter. I have to start to find better ways to manage my income. Has anyone had any bright ideas out there? Have you heard of ways of managing your money in a better? I'd love to hear it if you have! Thanks
1 response
@jovitex (44)
•
30 Dec 08
Hi Bensmom,
I'd say you need a money manager to manage your investable income. Everyone is sure feeling the bite of the recession and nearly all aspects of the economy has been hit. The alarm is blowing, but one arear I think is safe shore is the forex market. The trading of foreign exchange can always be profitable no matter the economic situation. Nevertheless, it always carries with it a high degree of risk of loss of investment capital. This is why you need an experienced money manager or professional trader to take care of the business.
First, you have to invest risk capital which is money you are prepared to lose. This goes down to about 10% or less of your income. Next, you can either get a forex education and amass trading experience with a practice account so you can trade your money yourself, or look for a professional trader with good education and experience to manage your investment. If you are just starting out in forex, the correct way to invest is to follow the second option.
Choosing a managed forex trading programme can be a herculean task and one is never sure of future results. Many managed forex trading programmes don't earn more than 10% per month and they attract a commission for the money manager. That notwithstanding, there is a new and innovative way of picking a money manager and it doesn't even cost you a commission payment. See this website (http://investfx.zulutrade.com) for details and be sure to register through this link, it is my personal referring site. This site brings together investors and money managers for mutual benefit.
You can choose money managers called signal providers based on their performance. Every weekend as a demo or live account holder, you receive a list of the top 5 signal providers for that week via email so you can always pick the best performing signal providers at any time. You can start with a demo account to familiarize yourself with the system. If you need forex education, you can visit babypips.com to learn free of charge.
For best results, don't risk more than 10% of your trading capital in any one trade.

