You got scammed? Someone disappeared with your money?The NOT DO DO and NO GOs

Elkart

I could not express my opinion on freedom better
That last comment earned you a vouch :)
(just kidding most your comments are spot on)
 

R

Elkart posted:
    But there is another side to it.

The price of freedom is I guess that you're allowed to do stuff that gets you hurt. In Thai if I want to get on my scooter after a few beers and go slap myself into a truck that's really my problem. They'll pick me up and dust me off best they can. But no one is going to lie in ambush outside the pub to prevent me from hurting myself.

In New Orleans I stumbled out a pub and the police were waiting on horses. I was still wondering what the heck was going on and they were already pushing people around to disperse the crowd. Just in case anyone had any ideas about not going straight home in taxi's. Police state if I ever saw one, same as Ozzy. Can't pay me to live in USA or Ozzy. There's no freedom.

In effect what I'm saying freedom comes at a cost and that cost is a little bit of chaos. Fx we can still pretty much do what we want to. Anybody can be a MM. And the cost of that is the scams. And quite frankly the only people who fall for it are the greedy quick buck crowd.

Elkart,

Thanks for your insight. Being ex-military I find it interesting in how little I appreciate the USA these last 10 years.

It is not my place to judge or evaluate some scam here and there. I guess I find it challenging to see people take 'advantage' of other people. :(

I almost got knifed one time in Amsterdam as I hugged a strange drunk 19 year old american girl who was in the process of getting her purse cut-off of her shoulder. I got followed for 2 blocks with knife's out by about 3 thugs. The funny thing is, I would probably do it again. Stupid me. :)

I am glad of the freedom of these investments. FIFO and No hedging is a great example of how oppressive our governments choose to be. Onward and Upward! :) I will focus on my own investments. :)

gil

stevetrade posted:
    I think some MT4 brokers do offer futures, Broco I think offer some pretty exotic things to trade on the MT4 platform.

That is in no way a recommendation of this broker, by the way.

I will check them. I like the system I already have without MT4 ($$$Tradestation$$$), but that could be something interesting to check out. :) The key for me is to grow some cajones and start putting down some real money on my futures trading. :) Tired of +200.00 days and ready for +2000.00 days! :)

Gil

Unfortunately there are scams in just about every industry. Having worked on Wallstreet for a very long time I can tell you that most of the crime I witnessed first hand came in the Real estate game. Tony Montana and Tony Soprano rule the Real Estate game. Gangsters abound be careful who you listen to. Most legit dudes (like myself) don't touch peoples money. I only have limited trading authority on the accounts that I manage and I'm very careful and choosy on whom I work with. I've been screwed too on the management side. You see it is up to the client to pay me. I charge 50% of profits on a weekly basis so every Friday I take my cut. Well needless to say that sometimes people forget to pay you. Oh I know that you made me $100,000 this week but I don't want to pay you $50,000. The truth of the matter is that people are greedy and once the money starts flowing people tend to change. Be cautious.

I wouldn't worry about that if they want to be greedy let them, the problem is on their side since that is the last 100K they are going to see coming from you, and once that is gone guess who is going to knock on your door. I probably wouldn't open it.


R

They don't knock on your door, they just do it again with the next account manager. These kind of fraud has a systematic backround..

Most brokers have a system where they can't withdraw before you're fees are deducted so in many cases its just a matter of right set up and there isn't that many good managers that they can keep pulling this with, eventually the word gets around.

R

pulsescan72 posted:
    Unfortunately there are scams in just about every industry. Having worked on Wallstreet for a very long time I can tell you that most of the crime I witnessed first hand came in the Real estate game. Tony Montana and Tony Soprano rule the Real Estate game. Gangsters abound be careful who you listen to. Most legit dudes (like myself) don't touch peoples money. I only have limited trading authority on the accounts that I manage and I'm very careful and choosy on whom I work with. I've been screwed too on the management side. You see it is up to the client to pay me. I charge 50% of profits on a weekly basis so every Friday I take my cut. Well needless to say that sometimes people forget to pay you. Oh I know that you made me $100,000 this week but I don't want to pay you $50,000. The truth of the matter is that people are greedy and once the money starts flowing people tend to change. Be cautious.

Well, you make them 100K, this week of which 50K will be yours, but the next week you lose them 100K. Do you give back the 50k? Or, do you never lose? haha... :) I personally don't invest with plans like that as they are rediculous in that the investor always gets worked. Anyone can have a bet to the stars and win, but can you do it repetatively. Any plan that is 'weekly' is asking for TROUBLE....

I agree, RE guys are seriously corrupt in most regards. I have done just about every type of deal in many states and I could count the honest people on my hands. :) Of course, honesty always seems to be a matter of perspective... :)

Gil

bluemele posted:
    

pulsescan72 posted:
    Unfortunately there are scams in just about every industry. Having worked on Wallstreet for a very long time I can tell you that most of the crime I witnessed first hand came in the Real estate game. Tony Montana and Tony Soprano rule the Real Estate game. Gangsters abound be careful who you listen to. Most legit dudes (like myself) don't touch peoples money. I only have limited trading authority on the accounts that I manage and I'm very careful and choosy on whom I work with. I've been screwed too on the management side. You see it is up to the client to pay me. I charge 50% of profits on a weekly basis so every Friday I take my cut. Well needless to say that sometimes people forget to pay you. Oh I know that you made me $100,000 this week but I don't want to pay you $50,000. The truth of the matter is that people are greedy and once the money starts flowing people tend to change. Be cautious.

Well, you make them 100K, this week of which 50K will be yours, but the next week you lose them 100K. Do you give back the 50k? Or, do you never lose? haha... :) I personally don't invest with plans like that as they are rediculous in that the investor always gets worked. Anyone can have a bet to the stars and win, but can you do it repetatively. Any plan that is 'weekly' is asking for TROUBLE....

I agree, RE guys are seriously corrupt in most regards. I have done just about every type of deal in many states and I could count the honest people on my hands. :) Of course, honesty always seems to be a matter of perspective... :)

Gil

I can't speak for what you might have experienced in the past however this is how I work. I'm very good at what I do and I have never had a problem with the set up (with the exception I listed above earlier). For this reason I am very selective in whom I chose to work with. There are very few people on the planet that can do what I do. I'm the only guy I know on the internet that gives out market commentary and signals FOR FREE!!!. I have not found anybody with better. If people could make money consistently on their own I wouldn't have any clients. You see I trade stocks, futures and forex so my system is robust and has done well in all market conditions and time frames. As for losing $50,000 in one week I can't speak on it because that has not happened to me since I use very strict money management guidelines. Losing that kind of money would be unacceptable to me.

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

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

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.

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?

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?

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.

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.

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

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.

 

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?