There was a point during this trade where you went from expecting a 4 pip move and hitting your take profit, to praying that it didn't drop another 4 pips and wiping another 10% of your available equity (at one point you had 97 lots open on the MAM). So why did you hold and continue to add? Not for any logical reason... you fell into the rookie trap of 'well I've come this far, cutting now is pointless, so I might as well run it to hell'.
You could have cut this basket and regrouped numerous times, but you didn't. You destroyed $41,000 of peoples hard earned money on a 130 pip move on GBPUSD.... 130 pips! That's a walk in the park for GBPUSD.
The magic dust has settled and I hope we can all see this for what it is. A strategy that repeatedly risks the entire account in the hopes of doubling it. Almost like a coin toss or martingale. We got sucked in because of the sexy gains and excitement, which I admit I also made the mistake of believing for a fleeting moment.
But the fact of the matter is that this has been a waste of money, time and resources for everyone concerned. Nothing that's happened in the past 24hrs leads me to think that we should continue to run this MAM.
A trader's true character is shown during moments of adversity, and I'm sad to say that Goodboy has displayed the worst character of any trader I've ever worked with. I'm yet to hear from him other than the ridiculous post above.
We won't be trading the Goodboy strategy on the MAM any further, however one of the other traders here is deliberating about the possibility of taking over in an attempt to help recover everyone's money (free of charge). I'll of course communicate with each of you individually on all the details if/when that happens so you can make up your own mind on what you'd like to do.
Until then, if you bump into a Pakistani/American in New York City answering to the name of Adna, please tell him I'd like to talk to him.
The problem here is bring this guy to your members in the first place. It wasn't hard to do fact checking on him. I read what a wonderful and skilled trader etc...... I was laughing out loud reading comments like that. If he was trading his own account and not with other peoples money than it wouldn't be a concern. That is why you need to be a registered to be a PAMM/MAM for some type of security and no guarantees as well.
I figured with your experience and market knowledge you would have been more cautious than to bring this guy into your group. So all the blame is not on him, he was just being himself. To add, you want to distance yourself by calling out his identity is more troubling.
I know a sucker is born every minute and no one was making them invest but you bear some responsibility here since you both would have benefited from this arrangement.
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