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Managed Account in Loss, Trading Done by "Movee" System

insubbu
Jun 30 2011 at 04:45
1 posts
Hi

I have given $ 1500 account for managing, In 3 days trading he lost the total account

https://www.myfxbook.com/members/dendee/movee-2/111553

Dont Trust him

Dont give any account for management trading

He is not a consistent Guy

Attched - Statement for proof

(7:09:39 AM) dendeez: hi
(7:09:44 AM) dendeez: sorry about the account
(7:09:54 AM) dendeez: late to wake up, and got margin call
(7:10:30 AM) in.subbu: now what the status
(7:10:48 AM) in.subbu: what's next
(7:11:18 AM) dendeez: i did some mistake with ur account, did not put SL on it
(7:12:11 AM) in.subbu: for that $ 1000 acct also, you put 0.1 lots
(7:12:20 AM) in.subbu: that is also one mistake
(7:12:52 AM) dendeez: with tight SL, above 0.1 will be no problem actually
(7:15:38 AM) dendeez: i already lower my standart with u
(7:16:10 AM) dendeez: you should not trade on forex if you cannot afford you money to loose
(7:16:21 AM) dendeez: forex is high risk busines
(7:16:30 AM) dendeez: easy to got money, but also easy to loos money

When i asked this the reply i got

Thanks





Attachments:

SIM
pip2cash
Jun 30 2011 at 08:49
423 posts
Hi,

Really sad for your account.

Regards,
SIM
Andie Liu (andieliu)
Jul 01 2011 at 02:20
116 posts
thk for your information......
PipGnostic
TheCyclist
Jul 02 2011 at 04:12
724 posts
Very difficult to fathom what that so called money manager is thinking. Somehow it's ok to lose peoples money in fx, he didn't even bother to get up to lose it.
 
Any other form of investment that be jail time right there. Gross incompetence and negligence, fraud, misrepresentation and so on.

Just keep em coming guys, make a nice list of all the crooks and con's out there.
TheMan
Jul 02 2011 at 14:13
4 posts
Hi,

Really sad also for your account..
But currently he was also managed my capital over than 10k, It's already running about 4 month.
Consistent return at 40% average monthly. Personnaly i was impressed with the result.

But, i will continue monitor...it's seems his strategy a litle bit different between in your account and my account.

Rgds

TheMan
Jul 02 2011 at 16:36
4 posts
Proof of result of his work to my account, see attached
TheMan posted:
    Hi,

Really sad also for your account..
But currently he was also managed my capital over than 10k, It's already running about 4 month.
Consistent return at 40% average monthly. Personnaly i was impressed with the result.

But, i will continue monitor...it's seems his strategy a litle bit different between in your account and my account.

Rgds



Attachments:

rfx (ranesh)
Jul 02 2011 at 20:38
257 posts

TheMan posted:
    Proof of result of his work to my account, see attached
TheMan posted:
    Hi,

Really sad also for your account..
But currently he was also managed my capital over than 10k, It's already running about 4 month.
Consistent return at 40% average monthly. Personnaly i was impressed with the result.

But, i will continue monitor...it's seems his strategy a litle bit different between in your account and my account.

Rgds



I find it odd that you have signed up here on myfxbook to defend the said money manager, on the same date almost soon after the user 'insubbu' makes his post about his experience to warn others. If you are genuine then I apologize. We see this sort of thing happening here a lot.... the same person using multiple identities/accounts here on myfxbook.... either to praise their own trading, attack others or to do both.

In any case, since the statement is that of 'your' account that is being managed, you shouldn't have any problem about adding it to your profile here and fully verifying it. Here on myfxbook we only take fully verified accounts seriously (not attachments or unverified accounts).... or like Speki always says 'In God we trust... all others please show a fully verified account'. 😉
rfx (ranesh)
Jul 02 2011 at 20:45
257 posts

insubbu posted:
    Hi

I have given $ 1500 account for managing, In 3 days trading he lost the total account

https://www.myfxbook.com/members/dendee/movee-2/111553

Dont Trust him

Dont give any account for management trading

He is not a consistent Guy

Attched - Statement for proof

(7:09:39 AM) dendeez: hi
(7:09:44 AM) dendeez: sorry about the account
(7:09:54 AM) dendeez: late to wake up, and got margin call
(7:10:30 AM) in.subbu: now what the status
(7:10:48 AM) in.subbu: what's next
(7:11:18 AM) dendeez: i did some mistake with ur account, did not put SL on it
(7:12:11 AM) in.subbu: for that $ 1000 acct also, you put 0.1 lots
(7:12:20 AM) in.subbu: that is also one mistake
(7:12:52 AM) dendeez: with tight SL, above 0.1 will be no problem actually
(7:15:38 AM) dendeez: i already lower my standart with u
(7:16:10 AM) dendeez: you should not trade on forex if you cannot afford you money to loose
(7:16:21 AM) dendeez: forex is high risk busines
(7:16:30 AM) dendeez: easy to got money, but also easy to loos money

When i asked this the reply i got

Thanks






Is the link you've provided YOUR trading account.. the one that has been blown ?

If so, can you update this account one last time please, so we are able to see that it has indeed been blown up as claimed.

If not, can you please add it to your profile and fully verify it so that we are able to see that it has been blown up as claimed.

Thanks.
TheMan
Jul 03 2011 at 00:12
4 posts
Dear Ranesh,

I've join the fxbook, because i want to be able to make comment on this case,
Believe it or not, i don't ask you to believe

I already talk to the money manager that we are talking about.
He don't want to make this problem getting continue, and even don't want to make comment on this case.
His recent clients said the different things about him, and so am i. I'm satisfied with his service so far.

I hope this is my last comment also in this case. Nothing to be show, we got the profit already.


ranesh posted:
    
TheMan posted:
    Proof of result of his work to my account, see attached
TheMan posted:
    Hi,

Really sad also for your account..
But currently he was also managed my capital over than 10k, It's already running about 4 month.
Consistent return at 40% average monthly. Personnaly i was impressed with the result.

But, i will continue monitor...it's seems his strategy a litle bit different between in your account and my account.

Rgds



I find it odd that you have signed up here on myfxbook to defend the said money manager, on the same date almost soon after the user 'insubbu' makes his post about his experience to warn others. If you are genuine then I apologize. We see this sort of thing happening here a lot.... the same person using multiple identities/accounts here on myfxbook.... either to praise their own trading, attack others or to do both.

In any case, since the statement is that of 'your' account that is being managed, you shouldn't have any problem about adding it to your profile here and fully verifying it. Here on myfxbook we only take fully verified accounts seriously (not attachments or unverified accounts).... or like Speki always says 'In God we trust... all others please show a fully verified account'. 😉
rfx (ranesh)
Jul 03 2011 at 04:32
257 posts

TheMan posted:
    Dear Ranesh,

I've join the fxbook, because i want to be able to make comment on this case,
Believe it or not, i don't ask you to believe

I already talk to the money manager that we are talking about.
He don't want to make this problem getting continue, and even don't want to make comment on this case.
His recent clients said the different things about him, and so am i. I'm satisfied with his service so far.

I hope this is my last comment also in this case. Nothing to be show, we got the profit already.


As you can see, I am being unbiased here. I've asked 'insubbu' to also show us 'his' account that has been blown up... fully verified by myfxbook, to substantiate his claim against this money manager.

It's obviously not managed via PAMM since ONLY his account seems to have got blown up here... based on what you say. So I assume, his account was being traded directly with an LPOA (hopefully).... in which case there shouldn't be any problem in showing us the account here... fully verified by myfxbook.

If 'insubbu' obliges and does this, then if your intention is to defend this money manager, you should also do the same.

On the contrary if 'insubbu' doesn't, then it will have to be concluded that this is just another one those fake scam accusations.
lovedove
Jul 04 2011 at 07:59
5 posts
i see all the conversation. and i only want to say that i'm his client too and i very satisfied from his work.
my account are private, who want to see i will send him private link.

thanks, Roei
Robin Hood Fund (RobinHoodFund)
Jul 04 2011 at 16:35
25 posts
When you a trying to catch so big ROI it is perfectly normal to have huge losses.
It is obvious that this system is traded with a big risk - it is not possible to get almost 100% per month without risking a lot.

In the explanations, the manager insist that this is a mistake - maybe it is .... when you trading several accounts it is quite possible to have different results, and sometimes you can just forget to put a SL on one of them. As you can see this could be fatal, and unfortunately no one will give your money back.

That's why the PAMM system is better - there is just one account for managing and the results are same for all investors and the manager!

<a href='https://www.myfxbook.com/members/RobinHoodFund/robin-hood-pamm/108473'><img border='0' src='https://www.myfxbook.com/widget?id=108473&type=2&color=green'/></a>

MANAGED ACCOUNT (PAMM) -
drago
Jul 08 2011 at 22:05
71 posts
Hi everyone,

I am also client of this manager and I can confirm, that he is trading very good. My account is also private but I could say that from the 28.06 till now I have more than 40 % performance.

Regards
Drago
trader757
Jul 10 2011 at 11:01
51 posts
This is the 1st time i post here.

One of the reasons most forex traders fail is because of lack of enough capital to start with.
I can tell you from my own experience, and i take this advice very seriously. Enough capital is a must for every business and forex trading is no exception. Its a business and every beginner would benefit from taking this into high consideration.
Every business has its own risks and enough capital can somehow protect you from some risks, like being thrown out of business too early because you can't afford to handle special circumnstances that can come along withou warning.

Looking at the track record of this money manager it looks like he is performing rather well.
without trying to lift the blame off him it looks to me that $1000 is not enough capital.
Well you can come and say that its enough if you use proper money management and risk control. In a way you are right, but as i said above, special circumstances that are way beyond your control can come along without warning and trhow you out of business. You can even start with $100 and do well for several years, but for each one that does that, how many do fail?

Unfortunatley for the poster that started this thread it seems that an error made by his money manager turned out to be fatal for him. Its painfull i know but sometimes we may have to take some pain so we can learn....

Good luck and dont quit trying.



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