Trading the foreign currency market takes lots of dedication, patience, and sometimes even a little luck. Unfortunately, most traders have a very hard time putting it all together and staying focused. For this reason many people decide to get a professional Forex trader to manage their money with a managed Forex account.

Busy people find having a Forex managed accounts among the best decisions they have ever made. In this part of my currency trading tips series I’d like to talk to you regarding the main benefits of having your trading account managed by a professional Forex trader.

Reliability and Convenience:

When you invest in a managed Forex account you will be making a transition from a Currency trader to a Forex investor. The primary difference between those two is that as a Fx trader you need to spend time and effort analyzing the markets and taking trading decisions. As a Forex investor you simply monitor and supervise your investments, you don’t do any of the trading and you never worry about your trading account. This can be incredibly convenient for those who desire to benefit from the Currency markets but don’t want to or have the time to trade.

You can forget headaches or worries about your Forex trading account:

Trading can be very stressful when you are just not succeeding at it. Many people might experience high levels of stress, fear, and greed from trading loses. When you open a managed Forex account with a professional Currency trader you no longer have to deal with trading and its psychological effects.

The main goal of a money manager is to enable you to make money from the foreign currency market while you free yourself from the monitors and the stressing (and many times fast paced) trading life.

Choose the degree of risk and returns you expect from your investments:

Most money managers let you choose the degree of risk you are comfortable with. Everyone is different and your risk tolerance differs from mine or other traders’. Because of this you are able to pick the degree of risk you are able to take.

You need to also remember that the higher your risk the higher your potential profits and losses. In addition, many money managers will offer 3 or more types of accounts. As an example, some money managers offer an account for conservative investors, then another one if you have a higher risk tolerance, and one for people with a higher risk tolerance. Remember, The higher the risk the higher the potential profits will be.

Create an automatic income stream from Forex trading:

As a Forex investor your trading venture is mostly automated. You have a money manager who takes care of all the trading, an fx broker who manages all the payouts to you and your money manager, and you receive performance reports each month. Having an automated trading business can provide you with incredible amounts of freedom, self accomplishment, and free time to do other things.

A managed Forex trading account could be just what your investment and retirement portfolio need to reach the profits you have desired. Thank you for reading my currency trading tips.

Best wishes,
Jay Molina
Pro Forex Trader & Educator

Defect management is the process of identifying and resolving problems that occur in a product or service (e.g. bugs in software programs), particularly with the help of a conventional or cloud-based computing system that tracks defects. Although the process for managing defects varies from business to business, certain types of mismanagement can affect any businesses, regardless of its projects. Below are five mistakes that businesses commonly make as they track defects during the software development process:

Failure to Define Objectives

The first step in managing defects is to define the objectives for the management process-a task that requires assessing which problems are the greatest threat to the quality of the software. When these problems are not identified, the difference between high priority and low priority problems can become blurred, and result in a program that contains major errors when it is first released.

Failure to Implement a Professional Tracking System

After management objectives are defined, a professional tracking system should be implemented to help facilitate them. Too often, small and midsize businesses attempt to track errors in computer code without the help of a system that organizes project information, communicates the information in real time, and allows project managers to monitor task progress in real time. In the absence of such a system, projects have greater chance of running over schedule, and managers have less ability to monitor work quality.

Improper Classification of Problems

The easiest way to misclassify defects is to use a defect management system to track problems that it does not have the proper options to track. A conventional or cloud-based computing system can be tailored to track various types of problems simultaneously, but some businesses continue to use the same options as their tracking needs evolve-a practice that can lead to quality issues. If your business needs a system for tracking more than one type of problem, be sure the system contains the right options from the start.

Failure to Identify Improvement Strategies

The ultimate goal of analyzing defects is to prevent them from occurring in the future, not merely to resolve them in the present. With this in mind, businesses should identify strategies for improving software quality as a project unfolds. Strategies can be formulated when the project concludes, but notes for formulating new strategies should be taken as frequently as possible to preserve crucial information.

Using the Same Process for All Projects

A management process that works well for one project may not work well for another project. When different projects have different needs, the process should be changed accordingly. Otherwise, a decline in management quality can lead to a decline in software quality. A proprietary tracking system can have new data options added as necessary.

Conclusion

Defect management is a crucial part of controlling the quality of products and services. In the software industry, it is typically associated with bug tracking and issue tracking as a part of the software development process. If your business needs help tracking bugs and issues, contact a provider of cloud-based computing and tracking solutions for more information.