One of the easiest ways to build wealth is by trading CFD or the Forex Market. Unfortunately it’s also one of the quickest ways to lose all of your money if you don’t know what you are doing.
Fortunately for us there are some professional traders who will trade for us (they take a small fee out of the profits) while you learn how to trade yourself using a demo account. This dramatically reduces your risk.
These professional traders produce incredible results month in month out. For example one trader who goes by the name ‘Uspexx’ (Russian for ‘Success’) has produced a profit of over 14,000% in the last 5 years, try getting that from the bank!
The traders I use have PAMM accounts that let you invest into which they then trade for you, they can be found here.
There are risks involved in Forex but these traders have track records going back years. Still when I have invested I always make sure I find at least 5 different funds to further minimize any risk.
You don’t need a lot to get started some of these funds start with as little as a $10 investment!
You can make yourself incredibly wealthy in a relatively short time frame.
If you can afford to then topping up your fund on a monthly basis you would reduce the time needed to achieve your goals much quicker due to the power of compounding.
With a bit of time spent studying the traders, their style and track record you should be able to pick 5 funds or more to invest in.
Steps to setting up a PAMM account (percentage allocation management module)
What is a PAMM account and how it will affect your wealth, well to start with PAMM stands for percentage allocation management module, well that clears that up!
Really it’s for people who don’t have the knowledge or time to trade on the Forex market, but would rather piggyback on the returns an experienced Forex trader makes.
Your potential profit is unrestricted and you can withdraw your funds at any time
The Basic Idea Behind the PAMM Account
There are thousands of fund managers that have PAMM Accounts, they allocate a certain amount of their initial investment as the Manager’s Capital. He will be unable to withdraw from this amount (an additional incentive for the manager to demonstrate caution in his trading). Next, he designs his Proposal, in which he lists the terms for investors. This includes the percentage of their share of the profit they will pay him in compensation when he makes a profit.
Investors search through the PAMM Account Ratings to find the account they would like to invest in.
The manager begins making trades on the account using both his personal capital and the funds of his investors. Profits and losses on the account are divided among the manager and investors, based on their share in the account. View PAMM Accounts and see the kind of returns you could be getting.
The key to investing wisely is choosing the right PAMM account manager to suit your budget.
There are many things to look out for when searching for the best accounts to invest in these include:
How long has the account been traded for and do they trade regularly
What percentage of commission do they charge
Who else invests in to their accounts
Have they honoured their declaration, which means have they performed as they said they would
What kind of returns are they getting steadily as opposed to great swings
What do they trade are they focused on one or two currency pairs or do they invest in many different areas.
Are they conservative or aggressive in style
For example ‘Extra Effect’ (Account Number 2872695) is a 4.5 star manager, who has been operating just over a year with 188 investors including himself. He has stuck by his declaration and charges a fee of 30% of your profits, you can invest from $10. His return for the last 13mths has been 1,209% so you would have had a return of 70% (after commission) of that total or 846.3%, try getting that from your bank.
If this is a struggle then we offer a personalized service. You can speak to John one on one and he will show you the funds he invests in personally. (see here for more details)