Selecting managed accounts
Many people ask my opinion on managed accounts that can be found on the Internet. Unfortunately, there are no live account statements on most of these sites. My opinion is that starting such an investment without these is like the Russian roulette. For example, let’s say the promised annual return is 25%, but only a chart could show that in recent times, the account brought say, 60% in 9 months and lost 35% last month. Or the other trick, which is often applied in case of robots, is that it is running with extreme risk in the first few months, which brings extreme monthly returns with some luck and raises the monthly average for a long time, although the account is bringing only a fraction of it at the time being. As long as I cannot get credible information on the past performance (I do not mean verbal testimony or tables published on websites, as anybody can do these), it is not advisable to invest money anywhere. If this data is available, you should examine it thoroughly! (Taking into consideration what I have written on the selection of managed accounts earlier.) It is the best to have not only a myfxbook, but an fxblue statement also, because I think that presents the facts a lot more precisely in some cases (eg. linear timeline).
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