When you a trying to catch so big ROI it is perfectly normal to have huge losses. It is obvious that this system is traded with a big risk - it is not possible to get almost 100% per month without risking a lot.
In the explanations, the manager insist that this is a mistake - maybe it is .... when you trading several accounts it is quite possible to have different results, and sometimes you can just forget to put a SL on one of them. As you can see this could be fatal, and unfortunately no one will give your money back.
That's why the PAMM system is better - there is just one account for managing and the results are same for all investors and the manager!
One of the reasons most forex traders fail is because of lack of enough capital to start with. I can tell you from my own experience, and i take this advice very seriously. Enough capital is a must for every business and forex trading is no exception. Its a business and every beginner would benefit from taking this into high consideration. Every business has its own risks and enough capital can somehow protect you from some risks, like being thrown out of business too early because you can't afford to handle special circumnstances that can come along withou warning.
Looking at the track record of this money manager it looks like he is performing rather well. without trying to lift the blame off him it looks to me that $1000 is not enough capital. Well you can come and say that its enough if you use proper money management and risk control. In a way you are right, but as i said above, special circumstances that are way beyond your control can come along without warning and trhow you out of business. You can even start with $100 and do well for several years, but for each one that does that, how many do fail?
Unfortunatley for the poster that started this thread it seems that an error made by his money manager turned out to be fatal for him. Its painfull i know but sometimes we may have to take some pain so we can learn....
HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors.
Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance.
You could lose some or all of your initial investment. Do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading, and seek advice from an independent financial or tax advisor if you have any questions.
Any data and information is provided 'as is' solely for informational purposes, and is not intended for trading purposes or advice.
Past performance is not indicative of future results.
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