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Fx Power Club - Growth, Hot Forex PAMM (By Forex Trader 45547 )

The user has deleted this system.

Fx Power Club - Growth, Hot Forex PAMM Discussion

Carlrd
May 03 2012 at 18:39
1 posts
The reason I invested in your PAMM account was because from looking at previous trades it looked like you knew when to cut your losses. I'm struggling to understand why you didnt cut your losses a couple of days ago when the eur/gbp went back up to the 8220 mark. Its the a human who holds onto trades in the hope the the market will have mercy, its a trader who can admit he is wrong and close trades.
Forex Trader 45547 (fastpipsjpy)
May 03 2012 at 18:58
105 posts
Yes, you will see on the charts, that the EURGBP shot straight up in one 15 minute candle to around 0.8220 (around 40 pips). Closing there would have put us at around a 45% account loss or so. As you can see from all the previous trades I did not have a problem cutting losses and cutting losses is the way to stop from losing even more and protect the account, however the few traders I talked with stated they would not be happy in any fashion with a nearly 50% loss of their account (which clearly makes sense), so that did bias my personal judgement on the trade to some extent. Another factor was the powerful impulse upwards at that moment and the very strong support level we bounced from. My first reaction at most times when this occurs in trading is to move stops up to lock in some more protection, but obviously that would only make the loss much larger as we were first starting to rise from those deep lows. Not accepting the 50% account lose at that very moment did not make putting stops up under that level an easy decision as the trade would likely retrace, at least somewhat, plus if 50% was not acceptable, the stops would make the trade lock in at 60-70% account loss, which was even less acceptable. The real problem began a couple/few weeks ago when the EURO has amazing fundamental news and was at key levels and more orders to buy were placed...only to have strong GBP news shortly after that dropped the pair nearly 50 pips in short order with the new larger lot size. I think right around that point we were at 30-35% draw down or so. The key is not being able to use the normal strategies due to trade size. Anyway, I appreciate your comment and question and that is the best I can type to explain....not a great reason or actions, but it is the best I can share here. Thank you.
UrbelT
May 03 2012 at 21:46
6 posts
Well boys and girls, Ramen Noodles for the foreseeable future, $0.15 per pack.
If it doesn't make money, it doesn't make sense.
BigSteve
May 04 2012 at 02:28
101 posts

   UrbelT posted:
   Well boys and girls, Ramen Noodles for the foreseeable future, $0.15 per pack.
1/4 of this world does not have 0.15 cents, and only see noodles when someone else is eating it in front of them
UrbelT
May 04 2012 at 02:46
6 posts

   BigSteve posted:
1/4 of this world does not have 0.15 cents, and only see noodles when someone else is eating it in front of them


BigSteve, nice random fact, not sure what it has to do with my post though, because I assume that the people who bought in the $500 or more deposit into this pamm account are not in that 1/4 of the world in destitution... lol...
If it doesn't make money, it doesn't make sense.
Staikos2
May 04 2012 at 07:27
3 posts
Listen, don’t be childish and take what you deserve.. as a MAN! Don’t block me just because you can’t take the truth.
The other thing that makes me mad is that you are trying to explain yourself by saying “Ohh yeah… we make 300% in January and 116% in February… bla bla, who cares??? You just wiped out an account (from $330,000 to under $6,000 … crazy!!!); you’re trading huge lots, with no stop loss, and getting Margin Called.
US Clients under you don’t have to worry too much either, as in a couple of days there is not going to be any balance left as you will get another margin call.

'For now, we still have sizable trades running live in the market.” --- YEAH, but on the wrong direction… and the worst thing is that you don’t have any MONEY to trade with. This is like the Titanic… Sorry to say because I lost money with you too…

Staikos2
May 04 2012 at 07:27
3 posts
If you really are an honest man, then put all the profit you gained with this account back and see if you can make it grow back to where we were.... That is what an honest man would do...

Words are carried by the wind!!! Actions are what is important.
Staikos2
May 04 2012 at 07:29
3 posts
Forex Trader 45547.. He is mad because nobody said nice things to him when he was winning… Ohhhh… This is not a place to make friends…. We are HERE TO MAKE MONEY!!! Go find friends in FACEBOOK!!
Bottom line is that WHO CARES how many winning trades you had in a row, how much money you made… The important thing here is that you just BLEW UP and account!!!! Because you didn’t know when to STOP the Trades….
ultracat
May 04 2012 at 07:35
8 posts
It's a lot of explanation but really the explanation is quite simple: bad MM. It sounds like you had a few subscribers complaining to you about the DD and you decided to abandon your normal, successful MM and gamble.

I lost 80% of my account. I'm trying to decide to take it out or leave it, now that I see you explain so much you don't seem like a bad guy, just made a mistake.

How will you trade in the future? If some of your subscribers give you feedback will you change your strategy/MM? If so I will withdraw. The problem when you do that is you are pleasing a few people but betraying your own strategy. Any fx trader should just stick with his strategy, re-optimize continually with market conditions, and above all tune out emotions and emotional blather from your subscribers. In the future, I will much rather know your strategy and lose 50% versus you try to change it on the fly and it blows the account (or my account anyway).

Never forget even if you've done well in the past you have to be consistent because people like me who joined recently don't get any of your past success, we join just in time for you to go off the rails and take a huge loss. It was a big loss for you, a bigger loss for the new investors like me who only just started.
rahforex
May 04 2012 at 07:38
6 posts
If you put your whole life savings in the forex then you are dummer than you sound. If losing money in this forex is going to make have to eat romen noodles then you were already doom from the beginnibg. Hiw does god have anything ti do with forex. If god wanted you to have your money, you still would of had it. Please no bitching allowed. Admin keep on keeping on.
Syed Shahid Rizvi (shahidrizvi)
May 04 2012 at 07:39
4 posts
Jason why are u acting like an innocent child. U scamed us and thats the reality. U must have earned a big commission from the broker. Offcourse, we will get mad if you lose all our money in less than 2 months. U claimed to be a professional trader as u have a website called fastpips.com where u teach trading !!!!!!!!!!!!!!!!!!!!!!!!!!!! huh

Do you know what is money management in trading????????????????? U have lost $300K and u should be ashamed of this. But u r a shamless, greedy person who took full advantage of our trust on u.
thelonemantis
May 04 2012 at 07:40
1 posts
I've been in this PAMM account since a couple weeks in. I've seen big wins and now big losses. My father has been following Jason for over a year and watching his trading style.He was excited by the prospects of this PAMM account All the haters are quick to post but no one is offering encouragement, so that brings me here to post.

Jason, thank you for updating us constantly on whats going on. I was upset to see the losses but look forward to the next few months where you will fight to win back those losses. I have faith in this system and I only invested what I could afford to lose because it is high risk.

I know that haters must be seriously getting you down, but please know there are more less vocal people with faith in you and don't believe a single word these people are saying about you being a scammer or cheat or whatever.

I hope you get a good weekend of rest so you can move forward next week, refreshed and ready to trade.

Thanks :)
skymania
May 04 2012 at 10:16
44 posts

   thelonemantis posted:
   I've been in this PAMM account since a couple weeks in. I've seen big wins and now big losses. My father has been following Jason for over a year and watching his trading style.He was excited by the prospects of this PAMM account All the haters are quick to post but no one is offering encouragement, so that brings me here to post.

Jason, thank you for updating us constantly on whats going on. I was upset to see the losses but look forward to the next few months where you will fight to win back those losses. I have faith in this system and I only invested what I could afford to lose because it is high risk.

I know that haters must be seriously getting you down, but please know there are more less vocal people with faith in you and don't believe a single word these people are saying about you being a scammer or cheat or whatever.

I hope you get a good weekend of rest so you can move forward next week, refreshed and ready to trade.

Thanks :)

I sign under that.
tino17
May 04 2012 at 15:00
2 posts
I am very upset of losing 90% of my money under FXPC! I was wondering why u trade that so big amount of money without MM. So disappointing.

Could u explain what is the meaning of your statement: 'We are honest, transparent, and 'protective over all client accounts'. We welcome your business and thank you for your time.'

Protective without MM?? = Big BS.
skymania
May 04 2012 at 16:57
44 posts
We hit another margin call. Its over for this account.
kishorejoga
May 04 2012 at 17:39
313 posts
Every one knows forex is too risky ,But this money mangeer is big looser and greedy also
even if he made15 percent to customers and charges 30 percent commision it is lot of money to him
he would get 9- 10 dollars , but these managers want to make quick bucks and blows accounts left and right
tino17
May 04 2012 at 22:02
2 posts

   skymania posted:
   

   thelonemantis posted:
   I've been in this PAMM account since a couple weeks in. I've seen big wins and now big losses. My father has been following Jason for over a year and watching his trading style.He was excited by the prospects of this PAMM account All the haters are quick to post but no one is offering encouragement, so that brings me here to post.

Jason, thank you for updating us constantly on whats going on. I was upset to see the losses but look forward to the next few months where you will fight to win back those losses. I have faith in this system and I only invested what I could afford to lose because it is high risk.

I know that haters must be seriously getting you down, but please know there are more less vocal people with faith in you and don't believe a single word these people are saying about you being a scammer or cheat or whatever.

I hope you get a good weekend of rest so you can move forward next week, refreshed and ready to trade.

Thanks :)

I sign under that.

Hi, Skymania, have u checked ur account recently? :-) Dont worry.. the story has not ended yet, still remaining FL 50%. Enjoy.
jose2012
May 04 2012 at 22:04
1 posts
Jason.

I have been a client for more than 2 months, And i have been trading fo 4 years. When i saw your trading i thought id invest some in your pgormars just to diversify,. Risk money or not, you do not take a account form $1,000 to 1,500 and then to US$ 50. in 1 week. I dont care if forex is high risk. This is just unprofessional. There is no account. No money, no nothing.

I am so sorry for all of us who beleived in you. if we lose some money Heck its forex, but wiping out an account completely? Just plain unfair, unprofessional and yes people should know about these types of people in the internet. Not a bad person. definately not. You seem like a good guy but this is business. And you are just not a trader. Please do some good to the world and go back to fixing teeth and never trade again....At least not others people money.

I jus still cant beleive this...
https://pamm.hotforex.com/managerdetails/?l=58974123512456235445547&usermode=0

And now..This system has been deleted....

dont foget there is a Facebook group about this...
https://www.facebook.com/groups/275460212613/
ultracat
May 04 2012 at 22:04
8 posts
Yesterday I had 20% of my account left. Today it's 0%. Thank you.
Forex Trader 45547 (fastpipsjpy)
May 04 2012 at 23:39
105 posts
Thank you for all the friendly messages and support along the way. I had a long message written, but this is clearly not a place where people come to talk about what happened, etc as it is simply a venting board now for the frustrated. I understand, when I first found forex many years ago, I personally lost well over $100,000 USD and that is solely why I wanted to learn and study so I could do better than the managed who lost all of my hard earned money. Over the past 7 years, I have grown a nice email list of forex traders, ran a nice website, created free videos all over the web and never had a thing to sell. I wanted to create a training course, but most of the needed info can be found free online so I never felt good doing that. Creating a managed account and growing money for people and also getting paid for good performance was a great thing for all, a true win-win-win. When we lose money people become viscous. When I lost my money, there were no emails, no places to vent or share frustrations, no explanations....that is how most of PAMM's work and many/most lose the money with time. It was not my personal greed that prompted me to place bigger trades, it was the need to not disappoint people and lose their funds when trades were going poorly. Everyone should know that as a fund manager, you don't need to make big gains on a 300K account at 30-35% performance to make a nice income. This was not about trying to squeeze an extra bit of profit out for me as we all know that I only get paid when I win for you the investors. It would be foolish to build a large following, get great gains, then try to crank it as hard as possible in the 3rd or 4th month. Why not just make smaller gains over time and build a nice income? I will tell you why. We had two large draw downs of 40-60+% each which we fully recovered from. We made 300% and over 100% another month. Even someone who does not have any knowledge of trading can see this is a very risky account. I did my best and did not sleep or eat at times trying to fix it, but the third draw down broke it down. Please note that we did not lose the last 20% today as some state....although your balances show you had 20% or so, there was only 30-40% of that actually in equity...in other words, the draw down never ended. The equity is the only thing that matters, not the balance as it does not include live, negative trades. I even made a YouTube video on managed accounts and how to read the floating P & L for those that did not understand it. Yes, it felt good to save the account from over trading twice, but then the threats began. Death threats, lawsuit threats, more than one email from people claiming they would like to know how I felt if they killed themselves over the losses in this account, the cursing, the damning, etc. You all read only a fraction of that here in this discussion board. There is not one person reading this who emailed me over the past few days who I did not respond to...usually in an hour, any hour of the day. I am an honest person who knows how to trade, I know how to cut exposure and risk, but not with the pressure of a couple hundred investors. I am deeply sorry for everyone's loss, there is nothing I can say to make it better clearly. I am not a salesman trying to sell you anything, but rather simply making my last statement here. I won't respond to anything here any longer, but you may message me if you would like anytime. There still tiny open trades in the same pair as always. Another note. This drawdown has been going on for three weeks. All of you knew that, especially those who are out to kill me or themselves, or start begging for food for their families. Again, I am deeply sorry, but it did not happen overnight. Some of you withdrew money at the first draw down, some after we recovered fully the first or second time. Some have taken out a fraction of your account that was left just today. My point is that although it is unacceptable as a forex managed account, there was time to leave if you wanted to. Those who recently joined never saw any gains, only losses of course, and I am sorry. Some had huge gains in the beginning and let it all ride until the end. Most have taken at least some principal out over the course of the last month or two. Again, I am sorry for the loss. I am done trading for the public, I have removed the Facebook group, deleted the myfxbook fund page, and my website that I have built for years as well. Not that many of you care to read this or know, but I am not interested in this managed account business any longer...not because of the trading, but because of the threats and hate from the minority. Those who know me, know that I am honest (I posted updates often and exactly the facts and truthful very often and never once made a claim to anyone), I am not a scammer, I did not steal money, I do not profit when you lose money, and that I also lost 5 figures of my own money in this managed account. I have been open, honest, and transparent, having responded to 100% of all emails, messages, calls in short order. I know...none of that matters of course now, but these are the facts and they need to be said. Now those of you can rant and rave and post hate and cuss, as I won't be reading it any longer. I personally messaged each of those haters and none responded to me, only posted more here to get everyone worked up as people often do online. I meant the best, we had a great run, and it all crashed down in the end. I am sorry and I will chat with anyone who has questions into the future. I wish you the best and hope that your future investments with anyone else go well.

Thank you for reading.
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