FXInsights (shenanigans?)

[trendie]

this thread is to muse over something that some signals providers do.

Note: I dont trade FXInsights signals - I just happened to sign up a while ago, and still get their emails. I dont trade them since I dont understand how they are derived.

anyway.......
Thurs: Sep-6th:
10:52pm.
FX Insights is buying EUR/USD between 1.3675 and 1.3690 in anticipation of Friday's NFP report. We have a topside target of 1.3780. This is NOT a signal trade.

10:56pm
This is NOT a signal trade. Non-Farm Payroll is extremmely volatile and we do NOT recommend trading.

Fri: Sep-7th:
5:38am.
Team is aggressively bullish on EUR/USD, buying dips into the 1.3650's. We do NOT reccomend this trade.

1:30pm.
The signal triggered at 1.3732 on 8/9 is officially closed with profit.

1:38pm.
The topside target of 1.3760 on the team's NFP forecast has been reached. Joyous profit taking ensues.

OK;
a:I have shown ALL emails in sequence from my starting point, (the references to NFP).
b:the 1:30pm email I cant explain, it seems weird. if they are referring to a trade on Aug-9th, then I will ignore it. I include it only so as not to appear to be selective in what was sent.
c: my emphases added.

Now then;
all credit to fxinsights for giving warning signs of the risky nature of NFP trading.
But, they are then taking credit for "joyous profit taking"!

Is it fair to show profits when they were recommending people NOT to take the trade?

If I said "not recommended" on EVERY signal, but retrospectively took credit for winners, and selectively didnt count losses cos I said "too risky" - is this a fair and proper way to behave?

ultimately I dont care, but I thought others, perhaps newbies may take note.

 

[fxr]

Just seen this thread and thought i should reply.. i have been with fxinsights since last May and your misinformed and prejudiced post has made me do so.

The thing is this NFP call WASNT an FXI signal.. they told there members how they were trading that particular NFP , but recommended ppl dont take the call because of volatility and other craziness @ NFP time. As it turned out it was a fantastic call.. they dont often make calls for NFP in this way but their research proved overwhelming in favour of buying euro going into this particular NFP.

Also of course they are going to celebrate wildly .. they are traders first not signal providers, there own money was on the line with this call.


One further thing, this call WAS NOT a signal.., it was a call for NFP.. there signals have a 100 per cent success rate and the has site has just turned 1 year old.

So i suggest you practice some proper care, attention to detail and research your subject thoroughly before making knee jerk comments on a public forum.. which could put newbies off a fantastic signal and forex market learning provider which is completely FREE.


p.s i have nothing to gain from posting this and ppl may not believe what i say, i just hate seeing poorly researched crap written about a site that has helped me truly mature as a forex trader in ways only the prejudiced and set in their ways will find hard to appreciate.



/whinge

;p

 

[Trader333]

.. they told there members how they were trading that particular NFP , but recommended ppl dont take the call because of volatility and other craziness @ NFP time

Can I just clarify what you are saying here is that they recommend not taking a trade that they have actually taken themselves ?

It gets more confusing if this is the case.


Paul

 

[fxr]

Yes... thats pretty much exactly what they are saying. They are taking the trade themselves on their owns accounts.. but in the behest of risk management they encourage traders not to trade NFP , FXI, however choose to do so.

its not really that hard to understand unless you are looking to find issue imo.

 

[trendie]

Just seen this thread and thought i should reply.. i have been with fxinsights since last May and your misinformed and prejudiced post has made me do so.

The thing is this NFP call WASNT an FXI signal.. they told there members how they were trading that particular NFP , but recommended ppl dont take the call because of volatility and other craziness @ NFP time. As it turned out it was a fantastic call.. they dont often make calls for NFP in this way but their research proved overwhelming in favour of buying euro going into this particular NFP.

Also of course they are going to celebrate wildly .. they are traders first not signal providers, there own money was on the line with this call.


One further thing, this call WAS NOT a signal.., it was a call for NFP.. there signals have a 100 per cent success rate and the has site has just turned 1 year old.

So i suggest you practice some proper care, attention to detail and research your subject thoroughly before making knee jerk comments on a public forum.. which could put newbies off a fantastic signal and forex market learning provider which is completely FREE.


p.s i have nothing to gain from posting this and ppl may not believe what i say, i just hate seeing poorly researched crap written about a site that has helped me truly mature as a forex trader in ways only the prejudiced and set in their ways will find hard to appreciate.



/whinge

;p

oh dear, somebody didnt get any cards yesterday. never mind....

thank you for taking the time to post.
on reflection, the clue was "NFP", I suppose. Since I tend to glance over them as I dont trade them (as I dont understand their reasoning), I should have been more diligent. It just seemed a bit weird calling for "not a trade" then "joyous profits", but your analysis does make sense in the context of NFP.

please understand the difference between a genuine question and prejudice. I have swapped more cows for magic beans than most here, so being a tad cynical is part of the game.

welcome to T2W, by the way. :cheesy:

 

[fxr]

Hey thanks! and i really appreciate the humble tone adopted in your reply in the face of my perhaps over-zealous phrasing in the bumping of this thread. I just thought it was worthy of comment in the best interests of getting the very best information out to newbie traders.

May all your trading be as exemplary as your considered approach in dealing with my 'bump.' : )

 

[jister1]

oh dear, somebody didnt get any cards yesterday. never mind....

thank you for taking the time to post.
on reflection, the clue was "NFP", I suppose. Since I tend to glance over them as I dont trade them (as I dont understand their reasoning), I should have been more diligent. It just seemed a bit weird calling for "not a trade" then "joyous profits", but your analysis does make sense in the context of NFP.

please understand the difference between a genuine question and prejudice. I have swapped more cows for magic beans than most here, so being a tad cynical is part of the game.

welcome to T2W, by the way. :cheesy:

I would just like to say that I was a member of fxinsights and profxi. FXR is a member of both and is involved with mod and cisco big time. if anyone said anything negative about the team.... FXR would defend them and help convert the unsure ones or newbies as he likes to call them, into tow the line idiots that payup and try to learn as we tell you types. FXR apparently lives real close to the team......

On two seperate occasions I witnessed a demo account being used by Cisco. the screen shot clearly said demo account and then the next time the screen shot appeared the window was moved slightly to hide the fact that it was a demo account. I was not the only one to see this and was pm'd with regards to that by another member.

another thing... I used to get private messages all the time from (fellow members of PROFXI) concerned traders who were confused or in very bad draw down.... these guys were in distress because a call was made .. then for no apperent reason cisco would move the goal posts and people did not know what was going on...all of a sudden the trade would go the wrong way and the poor suckers who were not advised of the change in tactics would get a put down and quote on money management skills or some other crap to make you feel bad. They took no responsibillty and would say...it wasn't a signal and you dont have to take the trade.

I spent many nights awake wondering when the DD would turn into pips.......$200 a month........for about 3 months and an account worth about $5000 .....almost $6000 .....the only time I or many the guys on the site made money is when going with your own research. Unless of course you count the odd 20 pip which you were told to trade at your own risk for.

chancers I tell you ...chancers!

 

[NashvillePost]

http://www.nashvillepost.com/news/2009/12/7/soldier_of_forex


Soldier of Forex

Francisco Arias ran a $1.2 billion trading fund between special-ops missions. Or not.

By E. Thomas Wood

12-07-2009 12:06 AM —

He's nowhere to be found at the moment, so maybe Francisco R. Arias Jr. has gone behind enemy lines. But the 22 investors from across the United States who filed suit against Arias in Nashville late last month probably have other ideas about why he seems to be lying low.

Arias, who moved to Nashville from Florida earlier this decade, is at the center of numerous legal claims and counterclaims over his activities as a supposedly high-flying foreign currency exchange (or "forex") trader. The three related lawsuits filed against him Nov. 24 in Davidson County Circuit Court are the latest volleys in the legal battle. The investors seek $10.9 million in punitive damages for what they term "promissory fraud" by Arias.

In another case involving Arias, his father-in-law has said Arias duped him into serving as the "face" of the investment operation. You see, Arias "was in special operations with the United States Military and must keep his identity hidden," he is said to have told father-in-law Gary Doney Sr. of Lebanon. Arias even gave Doney the authority to sign documents on his behalf "in the event that something happened to him on one of his alleged military excursions."

Eventually, Doney said, it became clear that Arias "is not presently, nor has he ever been, a member of any branch of the United States armed forces."

But he did file for bankruptcy in 2007 and in May of this year, U.S. Bankruptcy Court Judge George C. Paine II issued an “order finding fraud” that prevents him from discharging his debts to various investors through the bankruptcy process.

For a time, Arias had Doney and plenty of other people convinced that he was not only an international man of mystery but also a genius at making money in the notoriously volatile forex markets.

The plaintiffs in the latest lawsuits say Arias talked them into making one-year loans that offered a guaranteed interest rate of 30 percent. Doney signed promissory notes to the investors, who believed the returns would be derived from currency trading by Arias. They say he showed them false financial statements indicating that his trading company, Adieus Corp., had a net worth of hundreds of millions of dollars.

Doney, for his part, says Arias showed him "a computer screen that evidenced trading in the account reaching a value of as much as $1.2 Billion and resulting profits of as much as $180 Million." The figures were fake, he claims. But Doney would have been in a position to know one number for real: He said the total amount Arias took in from investors came to as much as $3.4 million.

The new lawsuits say Arias put out promotional materials asserting that he had a 90 percent success rate in his trades, achieved by using a proprietary software system that "minimized or eliminated investment risk."

Some of the plaintiffs say that while Arias was investing their forex funds, he also sold them equity in a new wealth management company, Reynier Holdings. He promised it would go public and make its owners wealthy.

Franklin resident Rick Mattos was one such buyer. Besides investment losses of $176,000, his lawsuit says he is out $60,000 on the equity investment.

Enticed by the high returns they believed they could obtain via Arias, some of the plaintiffs went to exceptional lengths to come up with money to invest. John and Natalia Yosco of Franklin took out a $150,000 second mortgage to fund their purchase of Reynier equity; they were eventually forced to sell the home, their lawsuit says.

Two Florida investors cashed in Individual Retirement Account funds to invest in Adieus. Each lost almost all the money invested while also incurring substantial IRA withdrawal penalties and fees, according to one of the complaints.

Nashville attorney Kevin S. Key is representing the plaintiffs in the three new lawsuits. He declined to comment on them when reached last week.

Two Nashville-area telephone listings for Arias were out of service last week. Filings in Davidson County General Sessions Court indicate he was evicted from a home on Country Wood Circle in Donelson last September.

 

[everyonerich]

HAHAHAHA... just use managed account & power of attorney to prevent 'trader' take your money

 

[Jeremy.FxTrader]

Just seen this thread and thought i should reply.. i have been with fxinsights since last May and your misinformed and prejudiced post has made me do so.

The thing is this NFP call WASNT an FXI signal.. they told there members how they were trading that particular NFP , but recommended ppl dont take the call because of volatility and other craziness @ NFP time. As it turned out it was a fantastic call.. they dont often make calls for NFP in this way but their research proved overwhelming in favour of buying euro going into this particular NFP.

Also of course they are going to celebrate wildly .. they are traders first not signal providers, there own money was on the line with this call.


One further thing, this call WAS NOT a signal.., it was a call for NFP.. there signals have a 100 per cent success rate and the has site has just turned 1 year old.

So i suggest you practice some proper care, attention to detail and research your subject thoroughly before making knee jerk comments on a public forum.. which could put newbies off a fantastic signal and forex market learning provider which is completely FREE.


p.s i have nothing to gain from posting this and ppl may not believe what i say, i just hate seeing poorly researched crap written about a site that has helped me truly mature as a forex trader in ways only the prejudiced and set in their ways will find hard to appreciate.



/whinge

;p

how's their trading going for you now? you always were arrogant.

I knew it was a demo the first time he showed it in his 'pay for service' site. the account basis changed when he 'brought it forward' to put beth in her place. idiots all.

 

[topdog38uk]

I wonder if any of these guys are still around.
Cisco did have one piece of proprietory software that even though it did'nt give a signal very often, when it did, it always paid out 20 pips. It's a pity he still aint around anymore to licence that out.

 

[theanon]

I wonder if any of these guys are still around.
Cisco did have one piece of proprietory software that even though it did'nt give a signal very often, when it did, it always paid out 20 pips. It's a pity he still aint around anymore to licence that out.

I don't think it was actually proprietory software, and I've come to believe the only reason it paid out the 20 pips was from the general market trend at the time. I've seen it at a later date and it wasn't ever as good as it was during that period.