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Robert (robw135)
Aug 10 2010 at 13:25
140 posts
I always have the same question as Gil and especially in relation to all the gurus that sell all these great systems that supposedly make these astonishing amounts of money yet they have to resort to selling that stuff to make money in the forex industry as opposed to forex trading.

Gill will probably ask why I manage OPM then? and I'll answer it. First I don't sell anything or ever claimed to be a know it all, second I have some financial goals that I'd like to reach and while trading only my own money will eventually get me there, why not try to help others while at the same time help myself get there faster by compounding the fees.

R

Steve B (stevetrade)
Aug 10 2010 at 13:41
1408 posts
Obviously it's good to help other people out, that's one reason for doing it.
However another good reason is uncertainty.

Even when you know you can make money trading, there is still that little doubt in the back of your mind saying.

'What if something changes? What if I suddenly can't trade? What if the markets change? What if the governments do something that stop me trading?'

I think trying to get to whatever magic number you have in your mind beyond which trading is just a pastime and not a necessity as quickly as possible is a viable reason to provide services for others.

However, that said there is the side of the business filled with internet marketers that probably never traded for any length of time if at all and have made it their goal to make money from selling their own and other peoples crap. So don't take this to mean that all the people out there selling systems are doing it for your benefit. They aren't.



11:15, restate my assumptions: 1. Mathematics is the language of nature. 2. Everything around us can be represented and understood through numbers. 3. If you graph these numbers, patterns emerge. Therefore: There are patterns everywhere in nature.
pulsescan72
Aug 10 2010 at 13:47
6 posts
bluemele posted:
    That is great! I am glad you are that good, because I haven't found anyone that good yet. My mentor on futures is pretty darn amazing though, but that is futures.

Can you prove your ability through your fx trading account as I only see a 50% drawdown, 1 transaction verified. This site is great in that is cuts the baloney and truly gives people a chance to show their expertise.

I always have the question which I will never understand: 'Why deal with 'clients' when you can just trade your own cash if you are truly that good?'

I know some want to help others, while some don't want to put all their eggs in one basket and some like to complicate their lives...

Which is it for you? I like to understand that thinking...

Gil




Yeah I noticed the way this website shows account detail. I uploaded an old account of mine that has been inactive since I withdrew funds from it. The draw-down is a reflection of that withdraw. I also have an account uploaded at currensee. You will notice that on that website (unlike this one) ONLY REAL LIVE ACCOUNTS can be uploaded. NO DEMOS!!. I'm always in the top 10% out of thousands on the leader board (I even turned them down to be a trader on the board but thats another story). Anyway you asked a great question as to why I chose to help others its because what good is it if I can't help somebody else improve their quality of life?

Steve B (stevetrade)
Aug 10 2010 at 14:02
1408 posts
I'm not sure why it's a benefit to not allow the upload of demo accounts?

Demo accounts are indicated as such on here and it gives fledgling traders who aren't trading live accounts yet access to the same analysis tools as live traders get. Which is a good thing right?

11:15, restate my assumptions: 1. Mathematics is the language of nature. 2. Everything around us can be represented and understood through numbers. 3. If you graph these numbers, patterns emerge. Therefore: There are patterns everywhere in nature.
pulsescan72
Aug 10 2010 at 14:03
6 posts

robw135 posted:
    I always have the same question as Gil and especially in relation to all the gurus that sell all these great systems that supposedly make these astonishing amounts of money yet they have to resort to selling that stuff to make money in the forex industry as opposed to forex trading.

Gill will probably ask why I manage OPM then? and I'll answer it. First I don't sell anything or ever claimed to be a know it all, second I have some financial goals that I'd like to reach and while trading only my own money will eventually get me there, why not try to help others while at the same time help myself get there faster by compounding the fees.

R



Well said.

pulsescan72
Aug 10 2010 at 14:04
6 posts

stevetrade posted:
    Obviously it's good to help other people out, that's one reason for doing it.
However another good reason is uncertainty.

Even when you know you can make money trading, there is still that little doubt in the back of your mind saying.

'What if something changes? What if I suddenly can't trade? What if the markets change? What if the governments do something that stop me trading?'

I think trying to get to whatever magic number you have in your mind beyond which trading is just a pastime and not a necessity as quickly as possible is a viable reason to provide services for others.

However, that said there is the side of the business filled with internet marketers that probably never traded for any length of time if at all and have made it their goal to make money from selling their own and other peoples crap. So don't take this to mean that all the people out there selling systems are doing it for your benefit. They aren't.





I've always said that if you have the Golden Goose you won't sell it! However you would do well to give the eggs away to help others.

bluemele
Aug 10 2010 at 14:39
272 posts
Hey Guys,

Thanks for enlightening me. I agree w/ what Rob said as well as Steve with the changes possible.

Pulsescan, I am a currensee member as well, let's link up, mine is under my name. :) Gil Barden... I have 2 accounts, but one is not updating since I added a deposit and I think there is a bug with their software... :( One account would be in the top 5 (if it freakin updated) and the other is now at #95 after having been in the 20's for quite some time which has a 20% drawdown right now so I guess that is why... :) Need that AUD to drop! :)

I like live accounts only (sorry Steve) as I don't believe DEMO is as effective as I have had too many great successes with DEMO only to go live and fall flat. On DEMO on my futures trading (Discretionary), I can consistently make 30+ ticks a day (times X contracts @ 10.00 per tick), but when I trade live, my performance is more like (10 ticks to -10 ticks, depends on the day...)....

When I first started trading, I didn't understand that mental issues could be an issue and I went full bore into everything and lost more than many homes cost in the US. I now understand the 'risk' and not just the 'reward' and have since scaled back my thinking in that it now costs me I believe in my ability to maintain the proper mental attitude. I have learned trading is 90% mental (after the first year of learning) and 10% technical ability.

Hit me up on Currensee and let's 'Trade Together' haha... :)

Gil

Be Open, honest and ethical and all the $$$ you want will come. (hint hint)
Zebra (zebra)
Aug 11 2010 at 08:15
55 posts
I've gone through every single Manual Trading system that can display a Real Broker and that does not hide their Equity.( yes this took about an Hour.)

 Some traders are better than others. Some are just here to see how their trading system stacks up on statistics and some are here for other reasons. What shocks me How Many people talk the talk but can not back up their comments with some decent results. I dont want to point fingers but the members that are posting in here, do not have results publicly, or their account is below acceptable performance... 30+ equity?

The only one that I would vouch for is Gil. Even though it may be martingale. Adding a larger position is not all that evil if you understand the waves in the market. yeah many people can over do it. And, I have seen a Martingale Money manager that brought their investors 100% a year for 2 years, before the system Blew 50% as EURUSD plunged down without the needed Retrace for the martingale to recover. That being said, Use your martingale for your own money and please spare the investors.

This article grabbed my attention because Scams are on the raise... For example, use GOOGLE TRENDS, and search forex scams.. You will get the big picture.. And this will not stop unless governments shut down brokers.. and yes this is already happening.. This is some very good info from these members above and thank you for helping out this community.

I've spent several hours reading all the suggestions and it just shows that people do WANT to help people, Why else does everyone want MORE transparency..

This site will continue to grow with Real and professional traders as we fix the few needed bugs associated with this statistical approach of documenting our personal trading journals. And by fixing the True equity Drawdown and pointing out the frauds here this site will weed out the fakes very quickly.. And I honext believe, maybe this is the reason why we have not seen the needed changed Just yet, as many members will finally stop promoting their death traps for investors.. But I am all for it..

I hope people can see my comments as being constructive and not insulting.. I have noticed by reading comments here that some people do lash back at others, even if the comments do hold weight. But that is expected as it seams we are All trying to Live from our trading.. That is the whole purpose of trading for myself.. For the Money and Freedom to do whatever I want , when ever I want.

 

Steve B (stevetrade)
Aug 11 2010 at 10:30
1408 posts
I'd be interested to hear what criteria you used to assess the manual traders on here. Was it simply a case of assessing the level of privacy they were using or did you assess their trading methodology as well?


11:15, restate my assumptions: 1. Mathematics is the language of nature. 2. Everything around us can be represented and understood through numbers. 3. If you graph these numbers, patterns emerge. Therefore: There are patterns everywhere in nature.
4EverMaAT
Aug 12 2010 at 12:32
29 posts

duzyfx posted:
    I just got scammed by the money manager ... he wanted to secure himself so I pay him his profit so he demanded $500 up front for trading 10K account. In 3 weeks he didn't manage to make any profit (and luckily for me didn't loose anything) however he will not refund the $500 even though he was supposed to earn it at 70/30 ... He was placing very loose daily entries and I just got tired of it!

Also I paid with paypal and guess what paypal does not protect the users for services ... so if you pay with paypal and you want a refund you won't see the money ever ... it stays with the scammer ...

I'm thinking I should have used some Escrow service ... never used one before .... anyone can suggest one ?


Safefunds.com

But paypal is okaay also, but you MUST use the credit card function

Are your trading systems fully automated?
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