Should newbie use Pamm

[Daisy]

Should newbie use Pamm? I've heard so many losing pamm stories where managers lost in a lot of trades and where investors put in millions of dollars and they're very real. So because of this kind of high chances of losses with managers, newbie should be aware of pamm and use cautions with it. The managers are just like you. They could be good but a bad market can wipe them out so it doesn't mean your money is safe with them. Your money might not be safe with pamm. What is your opinion on this matter?

 

[jackcm]

PAMM is same as social trading and it is not recommend. If I had enough money, I'd rather spend it on asset managements, they are more established and professional than those individuals who claim themselves to be professional traders but all their equities end up collapsing.

 

[Daisy]

I'm beginning to think that Pamm is another way for people to scam you. They can set up their company and then tell you to invest and they pocket some while they trade some and then lose it all and then close their account and all is over and a nightmare. It happened too many gullible investors. I mean if you know forex you should trade for yourself cause there is no point in trusting anyone with your hard earned money.

 

[Decub]

PAMM is same as social trading and it is not recommend. If I had enough money, I'd rather spend it on asset managements, they are more established and professional than those individuals who claim themselves to be professional traders but all their equities end up collapsing.

Same here, I have some other more reliable places I can easily invest my funds rather than PAMM. Even if it must be on securities, then getting a reliable firm to obtain their shares would most likely be my next option since I can feel better relaxed and enjoy the dividends. Even if it depreciates, there are still chances of it gaining high another time.

 

[gkintl]

The decision to use PAMM or not should be based on our long term goal. In case making money is our only objective then PAMM can certainly go a long way in realizing our dream. However, an individual who wish to make trading as a career should avoid using PAMM. It will never enable a person to learn trading. Even though there are short term disadvantages in trading on our own, as time passes, we will be able to master trading and make it as our full time profession. Thus, a decision to use PAMM should be based on our intention to make forex trading a career or not.

 

[Daisy]

I'm not using it due to the fact that I don't trust managers to manage my funds and also they do not care cause its not their money. I've also heard of horrid stories about managers so that is why I don't use it and don't recommend it either cause its just too fishy. I can trade for myself and so do many others so no need to use it. Although trade copying is ok though.

 

[hadg33]

I don't see anything wrong if a newbie uses a PAMM. For me I would even prefer to use a PAMM because I don't really want to do the forex on my own. I look at the way I look at it in HYIPs. In hyips a person or group of people would open a site and tell you to invest in there site and they will investors funds to trade forex and at the end of the day,investor makes profit in it. That is exactly how it is in forex. So I as a newbie,I would prefer to use the PAMM.

 

[sindarin]

@hadg33: you want? there is PAMM in Instaforex that allow investor to invest as low as $1, maybe you want to try it or you don't even attracted with it.

@Daisy It seems you are the typical individual trader that trade for yourselves, so far i don't see anything wrong with that way, but PAMM is not bad at all, some traders even considered to invest in big amount of money to some trusted Managers and in the end they got what they deserved.

 

[ryuken]

I don;t think there is anything wrong with PAMM. In fact the PAMM is better if you don't want to risk money by trading the wrong way everyday. You can get a money manager who can invest it for you and in turn makes you some money. which is good compared to the solo trading.

 

[Ruchibhar]

PAMM is not for newcomers. there are so many options to earn money. why to take risks?

 

[ryuken]

PAMM is not for newcomers? Why is that? PAMM does not involve active trading. You just have to learn to find the good money managers and once you do that then you would do better with the trading practice. I know one thing for sure that newbies should use group trading or PAMM instead of directly trading.

 

[Daisy]

Taling about good managers, and is there such a thing. I've heard nothing but nightmare when it comes to manged funds and I'm still waiting for a good thing when it comes to passive investment but no funds for now. I rather just buy stocks directly but pamm is not for me and I don't recommend it to anyone either. I also recommend copy trading over pamm cause you can still control a lot of things and the traders are real trader who trade with their own funds so they must want to win at all time.

 

[Decub]

Though I have heard some horrible stories about managers and managed accounts, there are still some good side of it. The profitability depends on the manager himself. Not everyone will make a bad trader especially when he is looked up to by some other traders who have their investment trusted in him.

 

[Pettyeve]

Any body can use pamm. Weather you are a newbie or a professional trader, you are free to make use of pamm because it is a type of investment. If the manager is able to manage the capital very well, then you will be able to make money from it.

 

[willy]

why not but they must making pamm with trusted and professional trader not just a trader making good money for one month and then make margin call and i think the best trader will be who is trading with long term like what i will do i will make pamm with my friend who is trading with long term but first i must make good capital before this step

 

[Faal]

PAMM is not for newcomers. there are so many options to earn money. why to take risks?

I agree with your opinion! New traders need to focus on learning and learning! Automatic trading systems are not any permanent solution, depending on others mean you can lose your money at any time without any notice!

 

[Lee Mark]

Should newbie use Pamm? I've heard so many losing pamm stories where managers lost in a lot of trades and where investors put in millions of dollars and they're very real. So because of this kind of high chances of losses with managers, newbie should be aware of pamm and use cautions with it. The managers are just like you. They could be good but a bad market can wipe them out so it doesn't mean your money is safe with them. Your money might not be safe with pamm. What is your opinion on this matter?

Well, if you want to invest your money here then this type of automatic service is really good enough, for the traders I must suggest to learn manually! Because, depending on others is not a proper solution.

 

[sininfinity]

I agree with your opinion! New traders need to focus on learning and learning! Automatic trading systems are not any permanent solution, depending on others mean you can lose your money at any time without any notice!

You are right. If traders rely on other method to make pips from the market then it is not going to bring positive pips in the long run. They have to build their own method and trade based on that.

 

[Runo]

I don't think it matters if you're a newbie or not when investing to PAMM. The main thing is to choose a good manager. But to do that you just need to ask a more experienced trader for advice and that's it)

 

[sininfinity]

Yes I think goog id they having own trading system and understand with their system, this is very important to learn trading and managed money with good if already finding profitable and suitable strategy in trading, which with using own system trading that proven profitable might someday they can creaed ea based system

Well traders who take other people's strategy, should make the strategy their own so they understand the strategy inside out and can use it at their own advantage.