PAMM: How to invest while you are busy.

What is PAMM?

Lets say you have some money to invest or trade but don't have the time to do it yourself. PAMM fixes that issue for you by allowing you use what is called a Percent Allocation Money Management account to invest in other traders.
As the name suggests a percentage of the profits earned is given to the person trading while the majority of the profit is for you, the investor.

    Trade without trading

PAMM accounts allow you to trade without doing it yourself. It frees up time for you and allows you to earn. This is an excellent choice for fast-paced career persons who are seeking a way to multiply their money.

   Advantages

       The advantages of opening a PAMM account is magnificent. Just imagine making money while doing something else. This is perfect for a lot of persons, even for me. Allow your money to work for you for once.
     With this kind of account you still have full control over your money. You decide when to close your account, when to choose a different fund manager, whether or not to compound profits and the list goes on.

      Flexible

You have the flexibility of choosing any PAMM money manager you want. Each manager's track record is shown so you know where you are putting your money. There's also flexibility in the term life of your investment. Instead of having your money tied up for years you have from a minimum of 30 days up to hold your cash in that account.

      Regulated

All PAMM account managers are regulated by the brokers and they can't get a percentage unless they make a profit. With the brokers'strict regulations each account manager is ensured to be transparent. Manager only gets paid if there's a profit so you don't have to worry about paying the amount manager as they get money only when they make you money.
Each PAMM account manager had to invest their money in the account as well which means they have vested interest in seeing the account making profits.

 Disadvantage

       As with anything forex related there is always a chance that you may lose your investment. Nothing is ever really a guarantee and past performance doesn't necessarily predict future results.


Investments aren't risky, investors are. So please choose an account manager carefully.

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4 Steps to Shift to Full-Time Trading

One of the more popular topics in the BabyPips.com forums is the possibility of making a living from trading. Believe it or not, there ARE traders who are making enough moolah from trading alone.

But not everyone can hack that kind of lifestyle. Like any other business, forex trading has its pitfalls that could eat up the hard-earned money of newbies who have jumped into it without enough knowledge and preparation.

If you’re determined to make full-time trading work for you though, then here are four simple steps you can take.

1. Ask yourself if you’re ready for full-time trading

Consider the logistics of trading full time. Do you have enough capital? Imagine months of not getting salary and not making profits while STILL having to pay for your food, rent, utilities, and Netflix and Amazon Prime subscriptions. Can’t live without your job yet? Can’t afford to take big drawdowns for weeks and still maintain your lifestyle? Don’t do it.

Have you spent enough time trading live? Before you take the plunge, make sure that you’ve found brokers that you can trust and trading strategies (yes, that’s plural) that have yielded you profits across all types of trading conditions. Of course, it goes without saying that you should have experienced being CONSISTENTLY PROFITABLE before trading full time.

Shifting to full-time trading also requires conviction. Do you REALLY want to be a forex trader? You shouldn’t just trade because you know that if you don’t, you won’t have a day job to go back to. Are you prepared to weather months of not making money? How about doing forex-related research all day every day? If you think that you’re only in it for the profits and lifestyle-friendly hours, then you shouldn’t take the leap just yet.

2. Make realistic goals.

When you’ve determined that full-time trading is for you, then you should start listing down goals and plans. It’s easy to imagine yourself buying cars, yachts, and private planes in your first two years of trading but we all know that it’s not that easy.

Do some research on other full-time traders and find out how long it took them to make a living from their trades. Also, base your trading goals on your past performances and the possible market scenarios that you see for the next couple of years. Based on your profits from when you were trading part time, can you fund a full-time trader lifestyle? How much profit are you expecting in a year? Five years? Do you think they’re realistic?

3. Prepare for a lifestyle change

If you want to be a full-time trader, make sure that you’re psychologically prepared for it and how it may affect those around you.

Unless you’re sharing an office with friends or you plan on trading in co-working spaces, you’ll likely trade at home. Remember that home-based trading is not without its struggles.

Are you okay with trading by yourself all day every day or do you need more interaction in your daily routine? Can you concentrate on trading even when your game consoles are a few feet away? Can your parents/spouse/children/housemates give you the time and space you need to set up an office? Can you maintain a working schedule at home? If you’ve said “NO” to at least one of these, then you might want to make adjustments before trading full time.

4. Treat trading as a business

The most difficult part of full-time trading is remembering to treat it as a business.

Sure you can wear muscle shirts and pajamas in front of your screens but that doesn’t make full-time trading anything less serious than any other source of income.

Establish an office space, minimize distractions, and be disciplined about your “working hours.” More importantly, keep track of your expenses (spreads, trading platform, broker fees, etc), monitor your profits, and keep a trading journal to track your mistakes and progress.

Making money from trading alone may sound daunting and exhausting – probably because it IS daunting and exhausting! But if you’ve mentally and financially prepared yourself and you have develop a trading framework to guide you to profits in the long run, then there’s no reason why you can’t be one of the traders who will achieved financial independence through trading.

Courtesy of

www.babypips.com/blogs/pipsychology/forex-4-steps-full-time-trading.html


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VPS: securely trade anywhere

What is VPS?

VPS stands for Virtual Private Server, it is a special type of server that is set up on a computer with several other private servers. Essentially one physical computer is split into several virtual computers. With your own VPS you have the flexibility to install your own operating system. You can set it up anyway you choose with whatever programs you want to install. It's like having your own computer existing on virtual space. VPS is mostly referred to when dealing with web hosting and business enterprises. However VPS can be beneficial to forex traders as well.

How is it beneficial to traders?

Having a VPS empowers your trading game in a number of ways, some of which are discussed below.

   1) Anywhere/Anytime Trading

With a VPS it doesn't matter where you are operating from, you have the power to trade as long as you have internet access. You are able to login to your VPS, open your trading platform and execute your trading plan. Whether you are on the beach, in a plane or in a hotel, your trading day can be done like you are in office or at home.

   

   2) Trades are secure

Due to the rigorous security checks that companies has to go through before offering VPS service your VPS is protected against all malware and other security threats. You are able to execute your trades without worrying about any security issues.

  3) Trade even with power outages

Lets say you're trading and the power goes out. This may affect your trades if you are using your desktop at home. With a VPS power outages won't affect your trades as VPS providers boast a 99.99% uptime guarantee. A VPS provider uses a number of power backup services that allows them to be 'resistant' to power outages. Therefore you don't have to worry about losing out on any trading opps when using a VPS.

A VPS is extremely beneficial to trading but it comes at a cost. It may be expensive to get a high-end VPS however it is a worthwhile investment.

Let us know if you use a VPS and how it benefits you. Stay tuned for our next blog on how maximize your trading using another very effective tool/service.

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