PAMM Reviews: What are your good or bad experiences using PAMM?
Hello all fellows traders.
Im new to trading.
I'm planning to join a PAMM, but before i do it i would like to know your opinions,
Do youhave any opnion or real experience about using PAMM?
to be frank , many of PAMM managers change their trading style after you join , their statistics are not to be taken seriously most of the time .
Same thing for signal providers
better save up the money , educate yourself and keep practicing.
Any one producing more than 10% monthly could be taking high risk trades.
If you see something good , post it here and we critic for you.
Best of luck.
@sam68 - Why do you say PAMM managers change their trading style? It would be in their best interest not too, as they wouldn't make any money.
I wouldn't trust Forex signals, if any of those providers could consistently make 1000 pips per month they would be billionaires.
Don't waste your money...
donít waste your money, mate. In my previous experience, I have come across only 1 or 2 money managers who have been successful in the long-term. It is like seeing an unicorn Ė almost impossible.
i gave him over 2k to trade and his killed my account i one day.
i think that the trade history was a way to make think that he was good.
this is the guy, so stay away from him, do not be an stupid as i was to trust him my money
I think everyone should learn and become more advise by his/her own experiences.
But why to put all the account managers in the same pool? Maybe there are someones who know their job and want really to grow up the client portfolio.
You could post your best experience and there are a lot just here, on FF.
My little advice, say big NO to PAMM. Learn the trade and trade yourself, you'll make more than what you thought.
Well, when I was a new trader then I used all of the automatic trading services including PAMM service! To be honest, I have very bad experience on it! Although, I had selected a good trader but donít know why, how he cleaned up my equity within the 4 days.
Well, from my 1st day of trading my focus was on only manual trading! So, I concentrate on learning technical and fundamental analysis from my 1st day of trading! It looks my one year to gather pro trading skill on the Forex market! Now I use my live trading account manually.
what was the criteria you decided on he is a good trader?
This is a thread about good PAMM accounts not about people trading by themselves. Besides, if it was so easy and everyone is profitable, why arent we all milionares?
I think good PAMM accounts can be found but its really hard. I have made money overall in the past but its true that there are many which are not profitable even if they show good history. Many times it happens that a manager is trading well when trading his own money but starts making mistakes as soon as he starts to trade someone elses money. Its a psychological thing and thats why I only invest in automated strategies.
For me PAMM account has to have avg monthly profit vs max DD ratio at least 1:1, minimum 6 months trading history (in some cases can be lower), no scalping, automated strategy, ASIC or FCA regulated broker, transparency and experience managing large accounts.
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