hi again bds
bds-
you seem to think that i am in some way mixed up in this suspected scam-
that is your perogative but i must say at the outset that i have similar reservations- but thus far the limited data that i received is positive - none the less,alot more investigation needs to be done to verify those and many other issues-
this was the very reason for my post in the beginning.
i know that many of the traders in here including yourself have indeed much more experience than me in this area and that is why i ask for your advice.
i have some experience investing but it has been mainly in property,so i think that a forum like this is good way to speak with professionals in this industry,
i appreciate people who have responded and who have taken the time to do so.
i promise you that i am not in any way involved in this from a marketing view but none the less i will try to adress some of your comments
-this may very well be a scam ,my original post was to that effect asking how one might check out its legitimacy,some of the comments here have been very useful ,but i dont think writing it off totally is wise either.
just bear with me before you make a quick reply-
my thinking on this is that i have seen traded accounts over a 4 month period,
i have seen a back test of the automation of one of the systems(there are 2 ,both basically the same but at different times)albeit it of an older version than the current one , and over a 2 month period i have watched a demo account being traded albeit much more aggresively than may be wise,(the demo was set up on 3 seperate occasions using different passwords ,i had access to ll 3 at all times and i dont think that could have been rigged-or could it??-what do you think??).and currently i am seeing one real account statement every day and its results.
now-i admit that i have not verified the authenticity of any of those records ,but i assure you that if i proceed with my investigations that i will do that.
re your questions about 2 years of verified statements ,according to the trader ,he has discovered this set of indicators about a year and a half - 2 years ago,i really dont remember all the details but it was around that timeframe,
he has been watching it,backtesting it over 7 years and tinkering with it to improve its performance.
as he is starting out ,he manages 4 accounts -2 at 10 k and 2 at 50 k.
the 2 at 10 k are 4 months old and the two at 50 are a week and a half old,
he has in the past managed a 100 k account for a friend who had a prior financial commitment to a property deal-and as such he closed the account.
again i dont have verification of this or of what happened to the account after the 4 months but i will get it if i choose to investigate further,
he has no 2 year track record-how could he with a new system-
he intends to trade accounts using this methodology for a few years and then sell the automated system with the accounts used as backup whilst doing so-
i dont think george soros or any other fund as other posters have mentioned would look at any system until it had some proven track record with authentic and audited accounts as backup-and i appreciate that very point you made,
but how can a new system have a track record?
so i suppose the investors in this would be the guinea pigs to an extent.
hence the amount invested would have to reflect that risk.
now-to bring this one step further,i propose to go over to the usa,to meet this guy,and the brokers(at their offices) of the accounts he has sent me.i need to verify all the accounts that he has sent to me-i need to watch him trade it in real time live,bring it home and backtest it myself-i need to play with money mgt and stops etc,,,
it appears that his signals are highly accurate ,but i will only know that for sure when i meet with him and backtest it,and a high percentage is not enough in itself,
he says that this has been backtested over 7 years ,i will do the same tests myself,
but i have some doubts about his money management-
i need to see how a change in money management might affect the results.as i personally would not be comfortable with anything more than 2 % at risk per trade.
maybe more is acceptable when trading eminis particularly if the percentage success rate is higher than average-
what do you think?
i would welcome comments on that,
i take your point about the compounding and assure you that i understand the concept-
i am not totally ignorant despite some implications to the contrary-
but i think that if the indicators prove reliable ,and if a good money mgt structure can be put in place in conjunction with the indicators-it is worth exploring .
do you not think so?
or are we to write off every new idea in the world?
i certainly would not propose reinvesting all profits in any venture regardless of how sucessful it had been originally ,so the compounding would not be relevant for me at least-
markets can change and it would be wise to diversify ones assets on that basis.again money management is important as is asset diversification,being part of ones overall strategy,
basically-im saying that a set of indicators with a high percentage success rate is certainly in my opinion worth checking out -
does any one disagree with that?
if the system is reliable ,isnt it worth playing around with to either improve it or at the very least try to hone it to suits ones individual goals and personality,?
personally i have looked at over 200 investments in the past 18 months-most of them only briefly ,none were related to this market-i only put my money into 3,and i have learned over the years that alot of due diligence is needed on any investment-
but i still hold to my argument that it is worth checking this out-
especially if the indicators stack up and if money mgt can be incorporated to make it less risky,
if they dont ,in the course of my research-i will not invest my hard earned money-
if they do -i will speculate a small percentage of assets into it-
now,finally i thank you all for your posts,and i know most have been negative-i understand that and have no issue with it,
constructive criticism is always a good thing-
so i ask you all with the above in mind ,am i right to waste a few days of my life flying to the states to check this out and if i am do you have any other suggestions as to other ways in which this can be checked out-
be good-brian
50k to 460k in 2 months = 820% return...
50k to 350k in 2 months = 600% return...
Compounding 101 @ 600% per 2 month period would turn an initial 50k into 2,45 million after 4 months...
and into 17 million after 6 months...
and into 120 million !!! after 8 months
Billions are next !!!
That is a return of 52 % / week...
after a month he'll have turned 50K into 266 897...
2 months 1,4 mill...
4 months 40 mill...
after 8 months billions again...
THAT is why this is the most stupid thread on here in a long time, and that is why this guy is a net losing scam artist reduced to a pitiful living chasing 10K accounts who will never have a real life track record, because he will never be able to replicate his ridiculous sales claims targeted at clueless albeit all-the-more gullible newbies with distinct problems in comprehending compounding in real life.
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