Forex multi account manager | Use your trading account operating, investing, trading | Assist in self management of family office investment
Forex multi account manager experiences sharing | Not all foreign exchange investment traders can engage in trading full-time. A series of conditions must be met.
In terms of economic foundation, it is necessary to ensure having sufficient passive income so that when foreign exchange investment trading is not profitable for the time being, the basic living needs of the family can still be met.
In terms of market insight, one cannot rely on guessing short-term market fluctuations but should accurately judge market trends through in-depth analysis. Regarding arbitrage strategies, it is necessary to master means such as foreign exchange investment carry trade to achieve stable returns.
For the actual situation of freelancing, there should be a clear understanding. The success of freelancers usually stems from hard work and dedication, and their workload may not be less than that of traditional jobs.
In terms of income sources, if there is no fixed salary, there needs to be a clear income channel and sufficient ability to maintain a living. Family support is an important psychological and economic support for full-time traders, but it is not a decisive factor.
Economic independence means having achieved economic freedom and no longer needing to rely on basic wages to maintain a living. It is necessary to recognize that people from different social strata face different life pressures and choices. People at the bottom may need to change the status quo through high-risk methods.
Financial freedom requires being debt-free and having sufficient capital reserves so as to persevere in the foreign exchange investment trading market for a long time.
In terms of foreign exchange investment trading experience, one should have at least five years or more of foreign exchange investment trading experience, going through market fluctuations, including at least one significant account loss.
In terms of psychological endurance, one should be strong enough to remain calm in the face of market fluctuations. In terms of work experience, one needs to have more than ten years of work experience and not be limited to a specific industry.
From a personal perspective, only when at least three or more of the above conditions are met can one consider engaging in full-time foreign exchange investment trading. At the same time, one also needs to have a strong interest in foreign exchange investment trading and have sufficient time and funds for investment and improving trading skills.
Forex multi account manager experiences sharing | When people get involved in foreign exchange investment and trading with a “playful” mentality, they often overlook its underlying risks and complexity.
In the field of foreign exchange investment and trading, with the accumulation of years of experience, mature traders deeply realize that trading is by no means a simple investment behavior, but a solemn undertaking. Just as ancient military strategies say: "Military affairs are a major matter for the state, the place of life and death, and the way of survival and destruction, and they must be carefully examined." This sentence fully demonstrates the key significance and seriousness of war. By the same token, foreign exchange investment and trading should also be regarded as a carefully planned battle.
When people participate in foreign exchange investment and trading with a "playful" mentality, they often overlook its potential risks and complexity. This attitude is extremely likely to lead to failure because foreign exchange investment and trading require rigorous strategies, calm judgments, and firm execution abilities. For those who regard foreign exchange investment and trading as entertainment, mature foreign exchange investors usually should keep their distance from them. After all, this mentality is far from the serious attitude of mature foreign exchange investors towards investment and trading.
In the scope of foreign exchange investment, the essential difference between professional traders and those participants who aim for entertainment does not lie in whether they are fully engaged in trading, nor in the scale of funds they possess, nor in their degree of mastery of technology. The real difference lies in their attitude towards trading. For mature foreign exchange investors, foreign exchange investment and trading is like a war. Funds are the army of foreign exchange investors, and trading plans are the combat strategies of foreign exchange investors. Therefore, mature foreign exchange investors should strictly abide by discipline and ensure that every action conforms to the pre-determined plan.
In contrast, those who participate in foreign exchange investment and trading with an entertainment mentality often lack planning and purpose in their actions, just like casually purchasing goods in a vegetable market without clear goals and strategies. This randomness is fatal in foreign exchange investment and trading because it ignores the uncertainty and risks of the foreign exchange investment market.
The reason why individual investors in foreign exchange investment and trading are called "individual investors" is precisely because of their looseness in organizational form and attitude. When learning foreign exchange investment and trading, the first thing to cultivate is a correct attitude, followed by foreign exchange investment and trading techniques and strategies. Foreign exchange funds are like soldiers on the battlefield, and the foreign exchange investment market is the battlefield itself. Only by treating foreign exchange investment and trading with a serious and professional attitude can one achieve success in this challenging field.
Forex multi account manager experiences sharing | Foreign exchange trading is difficult to quickly turn one into an expert. The success rate is extremely low, and cognitive misunderstandings need to be guarded against.
In the field of foreign exchange investment and trading, there is a very significant cognitive misunderstanding that generally exists, that is, thinking that one can quickly achieve proficiency and become an expert. Under normal circumstances, no one would expect to transform from a novice in an industry into a top-notch lawyer, doctor, race car driver or athlete within one year. However, many people mistakenly believe that they can grow from beginners in foreign exchange trading to top traders within the same time period. In fact, the success rate of foreign exchange trading is extremely low, and it is very likely to be much lower than 5%. This ratio is even lower than the success rate of other professions. This overconfidence is likely due to a lack of sufficient understanding of the complexity of trading, which is undoubtedly a major blind spot at the cognitive level.
Forex multi account manager experiences sharing | Small foreign exchange investors lack interest in a 20% annual return. With a small capital base, the returns are limited.
For small-capital investors, an annual return rate of foreign exchange investment in the range of 20% to 30% may not be attractive. The main reason is that for investors with a small capital scale, even if the annual growth rate reaches 20%, the absolute return amount is relatively small. Ordinary investors are usually not interested in such an annualized return rate. They are often more keen to pursue investment opportunities that promise high returns and can get rich quickly. Although such opportunities are often accompanied by high risks and may even involve fraud.
For investors with a small amount of capital, the psychology of pursuing quick returns may cause them to overlook the crucial importance of risk management. In fact, even a 20% annual growth rate may be difficult to attract them because such a growth rate is relatively slow and it is difficult to see obvious improvement in financial conditions in the short term.
On the other hand, for investors with large amounts of capital or professional investors, they may prefer more stable investment strategies. In this case, even if the annual return rate is low, due to the large capital base, the absolute return amount is still considerable. For example, providers of account custody services may choose investment strategies with lower risks. Even if the annual return rate is only 20%, due to the large scale of managed funds, they can still obtain considerable returns after deducting customer earnings.
Forex multi account manager experiences sharing | Individual investors in the foreign exchange market should beware of free temptations, especially short-term trading training, which often hides traps.
In the field of the foreign exchange market, individual investors must be highly vigilant against those seemingly free temptations because there is usually huge risk and cost lurking behind them. Especially those free training courses are often filled with concepts such as short-term trading, high-frequency trading, and stop-loss. To a large extent, these concepts serve the interests of trading platforms. This is an important reason why most retail investors engaged in short-term trading ultimately suffer losses. They are misdirected in the initial stage and thus accept wrong investment concepts.
In fact, the success probability of short-term trading is extremely low. The so-called short-term, high-frequency, and high-leverage trading indeed requires frequent use of stop-loss strategies. On the contrary, low-frequency long-term trading usually does not require frequent stop-loss. The reason why retail investors need stop-loss is often not due to wrong judgment of market direction but due to their own insufficient funds. The combination of the scarcity of funds and the use of leverage will inevitably significantly amplify risks.
This is the fundamental factor that causes most retail investors in short-term trading to incur losses. When they gradually realize this problem, they often find that they have already paid a high price, and by then it is usually too late. In some cases, investors with larger amounts of funds may be at a disadvantage instead because their losses may be more severe.
In short-term high-frequency trading, stop-loss often becomes one of the sources of income for the platform, and the forced liquidation of ultra-short-term foreign exchange traders may become the platform's betting income.
Forex multi account manager experiences sharing | In foreign exchange investment trading, the reference value of others' trading records is limited due to the lack of personal experience.
In the field of foreign exchange investment, simply looking at others' trading records usually makes it difficult to obtain insights with substantial value. This is mainly because of the lack of profound insights brought by personal experience. For investors, the experience of others often only stays at the narrative level. Everyone's investment journey is unique. Compared with personal unforgettable experiences, the influence of others' stories is often relatively weak.
In trading practice, there is a great difference in the time and energy invested by individuals. Some investors may invest thousands of hours in in-depth research, while others may only invest very little time. This difference often makes it difficult to reach a consensus in the communication process, and the efficiency is also difficult to be effectively guaranteed. When investors try to share experience through words, the transmission of information basically stops. How much benefit the receiver can obtain from it is beyond the control of the sharer. Since everyone's understanding ability and cognitive level are different, some people may even gain nothing.
Current trading learners often expect to achieve success with a small amount of effort, expecting to master trading skills and achieve stable profits by reading a few articles, but in most cases, this is an unrealistic fantasy. Some people mistakenly believe that as long as they pay a fee, they can obtain the secret of success, but this idea ignores an important fact: if a person can really make a profit in trading, he usually doesn't care about those training fees. This mentality of pursuing quick success not only wastes time but may also have a negative impact on health.
Sharing trading experience and skills should be voluntary and should not involve direct economic benefits. If sharers are required to disclose their trading accounts to prove their effectiveness while providing methods, this is undoubtedly an unreasonable request. Sharers are providing help for free, and it is inappropriate to ask them to do more.
Investors should be clear that they are investing in trading strategies, not a specific person. Past success does not guarantee future success because past market conditions may happen to be in line with trading rules. It is understandable to want to win trust by accumulating good trading records, but account managers also need to strictly screen entrusted clients.
Forex multi account manager experiences sharing | In forex investment trading, continuous losses mean encountering strong resistance, while continuous profits mean that the resistance ahead is the least.
In the field of foreign exchange investment trading, when there is a continuous loss, it means that investors have encountered strong resistance; while when there is continuous profit, it indicates that the resistance ahead is the least.
In the operation process of the foreign exchange market, identifying the path of least resistance is closely related to adhering to the trading philosophy of "cut losses short and let profits run." The core of this concept is that once there is a continuous loss after a trading order is established, it usually indicates that there is a strong reverse force in the market, that is, there is greater resistance. Conversely, if a trading order starts to make a profit from the moment it enters the market and the profit trend continues, it generally means that the trading direction is in line with the market trend, and at this time, the resistance is small.
Therefore, investors need to closely monitor the performance of trading orders to judge the magnitude of market resistance. When an order is in a continuous loss state, it is very likely a signal of market resistance, and investors should consider adjusting or exiting the transaction. When an order is in a profitable state, it may indicate that the market resistance is small, which is a good time to continue holding or increasing positions. In this way, investors can effectively manage risks and at the same time maximize potential profits.
Forex multi account manager experiences sharing | In foreign exchange investment trading, overcoming the fear of mistakes, losses, missed opportunities, and profit reversals requires the accumulation of experience and skills. Improving the trading system is the key.
In the field of foreign exchange investment, investors usually face four psychological barriers, namely the fear of mistakes, the fear of losses, the panic of missing opportunities, and the worry about profit reversals. These fears are extremely common among novice investors. However, as experience continues to accumulate and skills gradually improve, most investors can gradually overcome these psychological barriers. Since the specific situations of each trader are different, the time required to overcome fear also varies.
If you find that you are still troubled by these fears, don't worry too much. This usually means that your trading skills have not reached a certain level, or your trading system is not perfect enough. A mature trading system can provide you with clear guidance and reduce uncertainty, thereby reducing the fear felt during the trading process. Therefore, focusing on improving your trading skills and perfecting your trading strategy is the key to solving this problem. Over time, you will be able to deal with market fluctuations more calmly and confidently and effectively manage your trading fears.
Forex multi account manager experiences sharing | Foreign exchange investment challenges are not physical. Love turns hardship into pleasure. Success requires courage and perseverance. Avoid being eager for quick success and instant benefits.
In the field of foreign exchange investment, some people may think that its challenges are relatively low, especially compared with the bottom social groups engaged in physical labor. Investment trading indeed does not require physical strength nor endure the baptism of sweat. For those who find pleasure in foreign exchange trading, they will not feel pain because they are devoting themselves to what they love. When a person desires growth and progress, there are many ways to survive. As long as anything is done to the extreme, one can surpass the vast majority of people and thus ensure a worry-free life. Foreign exchange trading is no exception. Love can fill all emptiness and make pain negligible.
If someone feels that investment trading is a kind of pain, it is very likely because they are unwilling to face the fact that their time is wasted in vain and at the same time lack the courage to take action. They often only talk grandly, be worried and fall into sadness. Pain may only be temporary, but fear will make people never succeed. The so-called perseverance is in many cases just barely maintaining in difficult situations. Sometimes, people may just be in an awkward situation that is neither good nor bad, or have excessive expectations and a fragile fate. This is their helpless choice. One should tell oneself not to overthink too much so as not to lose courage. At the same time, one should also remind oneself to strive hard but not be eager for quick success. Keep persevering. As long as one doesn't give up, one will eventually taste happiness after suffering.
Making profits in the short term in trading may be relatively easy, but achieving long-term profitability is a challenge even more arduous than being admitted to a top university in the college entrance examination. In this world, there are no people who are born good at drinking. Only those who can withstand pressure. Similarly, there are no people who are born to like suffering. Only those who have to endure suffering. Choosing to become a trader means choosing to become a person who can withstand pressure. When one no longer fantasizes about getting rich overnight but starts to establish one's own trading system and capital management strategy, one can start making money steadily. In the trading market, making money steadily is not difficult. What is really difficult is that most people always long for getting rich quickly.
Forex multi account manager experiences sharing | In foreign exchange investment, technology, capital and mentality complement each other. Mentality is particularly crucial in long-term investment.
In the field of foreign exchange investment, the growth process of investors presents complex and continuously changing dynamic characteristics. Among them, the importance of trading technology, capital scale and mentality will change over time. In the initial stage of investors, trading technology occupies a core position because it is the basic element for entering the market. As investors gradually become familiar with the market and continuously improve their technology, the importance of capital management becomes increasingly prominent and then becomes a key factor in determining investment success or failure. However, when the technology reaches proficiency and the capital scale reaches a certain level, the trading mentality becomes a decisive factor.
The importance of mentality in long-term investment is particularly significant. It is related to whether investors can always maintain calmness and rationality in market fluctuations and then make wise decisions. Many successful investors and traders emphasize the importance of philosophy and psychology, which is actually emphasizing the role played by mentality. Mentality not only has an impact on trading decisions, but also is the key for investors to survive and develop in the market in the long term.
Technology, capital and mentality promote each other and none of them can be lacking. For ordinary retail investors, due to relatively limited capital, it is often difficult to maintain a stable mentality. Therefore, they need to continuously hone their technology to make up for the deficiencies in capital and mentality. The improvement of technology can bring competitive advantages to investors and help them achieve success in the market.
With the continuous accumulation of capital and the gradual growth of experience, the mentality of investors will gradually tend to be stable. This is because with a deeper understanding of the market and an increase in capital, investors can better manage risks and thus remain calm during the trading process. Eventually, stable mentality will help investors achieve long-term stable investment returns.
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