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Forex Managed Accounts
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RISK DISCLOSURE: Even with a managed account service where a third party is trading on your behalf, you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with alternative investments, and seek advice from an independent financial advisor if you have any doubts or concerns. The risk of loss in trading alternative investments including commodities, futures, and foreign exchange, can be substantial. You should therefore carefully consider whether such trading is suitable for you in light of your financial condition. The high degree of leverage that is often obtainable in alternative investments including commodities, futures, and foreign exchange, can work against you as well as for you. The use of leverage can quickly lead to large losses as well as large gains. One must always understand that there is always a relationship between high reward and high risk. Any type of market or trade speculation that can yield an unusually high return on investment is also subject to unusually high risk. Only funds you can afford to lose should be placed at risk and anyone who does not have such funds should not participate in alternative investments including commodities, futures, and foreign exchange. I also understand that Forex Managed simply acts as introducing agent to the managed accounts. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this website. The past performance of any trading system or methodology is not necessarily indicative of future results.
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At the end of the first month after your account begins trading, if there is a profit, the broker will deduct the performance fee/profit share, technically called the "incentive fee", that has been authorized on the Power of Attorney you sign when opening your account.
Each month they will do the same. The incentive fee is a percentage of the net profits per month from the "watermark" of previous highs.
If there are no profits in a given month, there are no incentive fees. The high equity point established after incentive fees are calculated creates the "watermark" which must be surpassed before any future profits may again be calculated.
EXAMPLE
You start with $50,000 in an account with a performance fee of 35%, and during the month there is $5,000 gross profit. The performance fee deducted would be 35% of £5,000, which is $1,750, so your net profit would be $3,250 and your account would now have a “watermark” new balance of $53,250.
If in the next month there was a loss of $1000, there would be no performance fee deducted, since there is no profit, and your new balance would be $52,250.
Your “watermark” is still $53,250. So there will be no performance fee deductions until you get past your current “watermark”.
Currencies in forex are traded in Lots.This simply determines the size or amount that is being traded.
A standard lot size is 100,000 units. Units refer to the base currency being traded.
There are three types of lots:
Standard lots = 100,000 units.
Mini lots = 10,000 units.
Micro lots = 1,000 units.
With every Standard lot traded (100,000 units) a trader risks to lose (or looks to win) $10 per pip.
A pip is the smallest price increment of movement.
With every Mini lot traded (10,000 units) a trader risks to lose (or looks to win) $1 per pip.
With each mini lot (1,000 units)a trader risks to lose (or looks to win)
= $0.10 per pip.
The size or lot size will always be determined by the trader depending on how much he wants to risk per trade and by the overall account balance. The smaller the lots size traded, the lower will be profits, but also the lower will be losses.
(With a master (MAM) account)
When the trader places a trade in the master account the lot size will be automatically allocated proportionally in the client accounts based on each clients account balance.
So if the trader has risked 1% of the account balance of the master account, then automatically the lot size will be adjusted in the client account in proportion to their individual account balance.
The client will have a duplicate trade and will still have the same risk of 1% of his account balance. The only difference is that the client will have a different lot size to the trader.
