Warning: George McCormick and Shane Morton (the G and S in GSFX) running this fund are not actually traders. They simply act like professional traders and collect investors' funds for their PAMM without licence from the UK government. They earn from the commissions for each lot traded provided by Tallinex. Not only is this illegal but highly unethical since there is a conflict of interest. Putting this out here so less people gets scammed by them. Caveat emptor!
MarilynWong posted: Warning: George McCormick and Shane Morton (the G and S in GSFX) running this fund are not actually traders. They simply act like professional traders and collect investors' funds for their PAMM without licence from the UK government. They earn from the commissions for each lot traded provided by Tallinex. Not only is this illegal but highly unethical since there is a conflict of interest. Putting this out here so less people gets scammed by them. Caveat emptor!
Firstly let me tell you how wrong you are. We are licenced as trading advisor's for a regulated capital company, secondly we earn on a profit share basis as well as lot commission basis. Most money managers receive these commissions and because tallinex is an ECN broker we are able to take a small cut of the lot commissions.
We are now making some progress at getting back into profit with our account and should be there by the end of January/February 2016.
We do not need negative comments from people that haven't even invested in our services, and therefore have no real reason to be here. If you have any serious questions, please direct them to [email protected]
My team and I were looking over the trades you were performing and just like the housing market in 2007, we wondered when your bubble was going to crash. Unfortunately you didn't learn from your mistake. One of the 10 rules you ALWAYS follow in trading alternative investments is to never over leverage your positions. What are you doing taking such massive lots each trade? There has to be a benefit for you guys and not the investors here if you continue to use such massive lot sizes and continue to drop the value of your fund. 15% returns for this month? I'm not saying it won't continue, but I would most likely bet that you'll see another -20% month if you continue to do massive lots. Not saying this with absolute certainty, but it sure seems like you guys are making a large commission from the broker from each trade you guys take—the only logical way to explain the HFT and over leveraging.
You say you are licensed, but where and with whom? I'm not finding anything either. Still shaking my head over the fact that you guys are over leveraging by so much. I mean, on any client that wants an aggressive account, I'll usually do between a 5:1 to 10:1 leverage, by you guys are doing exponentially more. Hell with 5:1, I can make a client 20% returns per month, and even when there is a bad month, it's still not a 60% loss of the entire value of the account. On a 1:1 account, we can produce a 5% return and over 800 pips in a single month. Knowing the market direction = longer, more profitable trades = less risk and higher investor confidence.
I'm not trying to ridicule you guys, but something has to change. Here's what I'll propose. You guys were able to raise $350k in funds rather quickly, and I can tell there is just a lack of experience. My fund is mainly comprised of personal funds as I've not really had the time to market my services to investors. How about you guys reel in some investors for us and we'll give you part of the commissions we make from the profits? Along with that, we can offer some tutelage to you all! I have over 8 years trading experience and my partner has 2 years (most know him as ForexJesus). Damn good analyst. We could definitely use some hungry individuals that need some guidance, but can also benefit our fund. Let me know what you guys think! I don't think you are horrible people, but there's some fine tuning to be done here. You could have way more than $350k if you just had proper guidance!
90% drawdown kaboom, I feel for the investors who have lost all of their money. If you change custom analysis to all history you will see full history of this scary account. Of course the managers have made on the lot rebates...
des12 posted: 90% drawdown kaboom, I feel for the investors who have lost all of their money. If you change custom analysis to all history you will see full history of this scary account. Of course the managers have made on the lot rebates...
I feel for them, but that's what happens when you try to get quick profits. No trader is perfect. We screw up, but what sets you up for continuous growth over time and a blown account is risk management. My team and I come up with a risk management strategy based off our technical, fundamental and quantitative analysis for a given week or day (depending on potential market volatility). Granted, even my personal account is taking a 20% hit at the moment (a moderately aggressive account). My client accounts are barely feeling the breeze and are still making an average 4-6% monthly gain. If you can't be happy with a (roughly) 70% yearly return, then you are too desperate for money to make money—and even that's higher than most of the larger hedge funds.