Pap Fund Mgmt (By doodboy)

The user has made his system private.

Pap Fund Mgmt Discussion

May 03, 2016 at 05:10
21 Replies
Member Since Oct 24, 2014   29 posts
Nov 03, 2016 at 09:35

Sorry to see what happened AGAIN to you yesterday. Lost almost 100% of account.

Yesterday you had 15.2 lots on usdjpy and you had no stops. You held in to FED meeting. If market had gapped, you would have had negative equity. We are in a volatile market now with US elections yet you feel safe to trade with no stops.

I hope you can now see why I chose not to join you, as I mention, I will always be 1 day away from a blowout as you have no concept of stop loss. You find taking losses hard and you just wait for account to margin call as you are paralyzed when trades go against you.

Your only solution is to keep adding losers hoping to average and then hope trade will reverse. It is a shame you lose months worth of profits in 1 day.

29-Jun, 07-Aug, 19-Sep, 02-Nov. These four days have cost you so much profits (both goodboyfx account and doodboy account).

Psychologically it must be hard to know you are losing clients so much money as well as your own. You are lucky you have profits from January to June to offset losses. If anyone joined you in June and traded with same risk as you, they would have broken several accounts now.

You have no job now as you lost your compliance job so not risking huge capital and preserving your capital is important.

Please please learn to take stop losses. No need to make thousands a month. Make good solid profits, even a thousand a week. Learn good safe habits and and you will be very good. once you learn good habits, you can increase risk.

Hope this is good advice for you.
Member Since Sep 19, 2017   35 posts
Sep 25, 2017 at 14:46
Islam and trading:

Any form of 'trading', where there is zero intention of taking delivery or using the FX proceeds for valid commercial purposes is considered HARAAM.

Trading forex where there is a legitimate need for different FX currencies, ie. going on holiday, need to send money abroad, buying items form abroad, all these are valid and legitimate reasons for trading currencies.

Where there is zero intention of taking delivery, where the only objective is to try and guess if a currency will rise/fall, is considered gambling and is strictly forbidden in Islam.

This applies to stocks as well as stocks or any other trading.

Also, shorting something you do not own, is strictly not allowed in Islam ie. if you have a US$ account and you sell dollars for CHF, this is allowed provided you own the actual number of US$'s. However you cannot cell CHF for US$'s as you d not own any CHF.

Also, trading on margin is strictly not allowed. You cannot buy/sell in a greater amount that what you have. That is why, even in valid commercial transactions, if you have only $500, you can only trade $500, ie a leverage of 1:1. Anything trading leverage of greater than 1 is strictly forbidden.

ALL swap points are Haraam, whether it's receiving or paying.

All Gambling is strictly Haraam.

Lying about past performances is definitely a sin and any earnings based upon lies and gambling is strictly not allowed and is Haraam.

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