Managed Account Sonadorcapital

[efptgp]

Hello,

I am new to this board as I want to see if others have had experiences with Sonador Capital Managment Inc located in Arizona.

I got in contact with them having found this information
Managed Forex Account D | Forex Managed Options Account

After some emails they reference VCAP founders David A. Granzotti and Keith Velcich for "due diligence".

Because I am not working into the Forex Business neither Sonador nor VCAP ring any bell to me. So it is very hard for me to understand what they are about.

The only thing I found regarding the CEO of Sonador Capital Managment Mr Michael Stewart was involved into a case in 2000
CFTC Press Release 4369-00
but this does not appear to be related to the company.

Any information or experiences are highly appreciated.

Thank you,

efp

 

[homerjsimpson]

i have some experience with them.

 

[efptgp]

i have some experience with them.

what have been your experiences?

 

[anley]

I have no experience with them but probabilities suggest that ALL managed accounts make far more money for the brokers than they ever do for their clients............

 

[homerjsimpson]

I have no experience with them but probabilities suggest that ALL managed accounts make far more money for the brokers than they ever do for their clients............

I've had some first hand experience with them. My account has really been through the ringer. The first week my account was active, the value increased by 50%. However since then it's been a roller coaster ride, with the account bottoming out at $0 almost a year later. The managing partners admit to their mistakes and have been willing to make amends, and so far have been true to their word. Since bottoming out, they have made some dramatic changes to their trading model that have brought about some nice returns. The people that suffered the most have yet to see a return, but as I stated before, they intend to "do right by us," and so far they've been true to their word.

 

[anley]

50% profit in a week!

Just proves that these clowns haven't got the first clue about how to properly manage client accounts.

And for those readers who think 50% in a week is very impressive, it's not becuase this game is all about RISK ADJUSTED RETURNS so it's unsurprising that the account is now worth zero.

 

[ohlc]

I've had some first hand experience with them. My account has really been through the ringer. The first week my account was active, the value increased by 50%. However since then it's been a roller coaster ride, with the account bottoming out at $0 almost a year later. The managing partners admit to their mistakes and have been willing to make amends, and so far have been true to their word. Since bottoming out, they have made some dramatic changes to their trading model that have brought about some nice returns. The people that suffered the most have yet to see a return, but as I stated before, they intend to "do right by us," and so far they've been true to their word.

Homer, have they made any headway in doing right by you yet? Also, curious to know what mistakes they admitted to.

Cheers, ohlc

 

[grantx]

Efp,

The CFTC reference is enough. Leave well alone.

Grant.

 

[mvtrader1]

This is Michael Stewart and the CFTC complaint being referenced here is not mine. It would be nice if someone actually asked if I was the same Michael Stewart rather than post untrue things on the internet about Sonador or myself. We have been though the ringer after a trade was entered in backwards from our OTC Trade desk. It was not caught for nearly 2 weeks and when it was it was a disaster. Since then we have re-established our credit lines and are off to the races.

There are dozens of Michael Stewart and several in the FX business and I just wanted to clear our name from this untrue statement.

Thanks

Michael R. Stewart

 

[mastersII]

50% profit in a week!

Just proves that these clowns haven't got the first clue about how to properly manage client accounts.

And for those readers who think 50% in a week is very impressive, it's not becuase this game is all about RISK ADJUSTED RETURNS so it's unsurprising that the account is now worth zero.

50% in a week? no wonder it's worth $0 now!.. my managed account program strives for 2% daily or less... and strive towards earning 40% in a month with hard work!......

here's a link to my thread for realtime performance of my program.

http://www.trade2win.com/boards/forex-discussion/34542-master-arts-live-trading.html#post458212

 

[fastcar]

Hello,

I am new to this board as I want to see if others have had experiences with Sonador Capital Managment Inc located in Arizona.

I got in contact with them having found this information
Managed Forex Account D | Forex Managed Options Account

After some emails they reference VCAP founders David A. Granzotti and Keith Velcich for "due diligence".

Because I am not working into the Forex Business neither Sonador nor VCAP ring any bell to me. So it is very hard for me to understand what they are about.

The only thing I found regarding the CEO of Sonador Capital Managment Mr Michael Stewart was involved into a case in 2000
CFTC Press Release 4369-00
but this does not appear to be related to the company.

Any information or experiences are highly appreciated.

Thank you,

efp

Hi Michael and everyone,

This is my first post, so greeting to everyone...

I looked into this program back in 2006 myself, late spring. I also discovered the CFTC case you mentioned, and believed it was the same Michael, too.
Anyway, Michael had a very attractive website at the time with performance claims between 20-42% per month. I contacted his broker, Saxobank, and got confirmed his last month which was 21%. Then he moved brokers because of order execution problems at Saxo (they couldn't handle his trading when his volume hit 100 million) and he went to Goldman Sachs. I spoke with him several times. He was proud to be trading on 'the same desk as George Soros'. He seemed like a very nice guy, and sincere.
I ran into problems at Goldman. My idea was to get three consecutive months of verified returns, but the new broker would give me nothing, 'it's confidential'.
Eventually, I began to take steps to invest. But but every time I got close, the minimum would go up, first $100,000, then $250,000, then one day Michael told me 'You're a day late and a dollar short,' explaining he had landed something like the Basket Ball Hall of Fame Club contract, and now had all the money he could possibly need at the time.
Glad I was 'late and short' based on the news here... I'd love to see Sonodor's monthly performance since 2006, it would be interesting. They traded almost exclusively options, and would use all kinds of strategies. Happy trading...

fastcar