Thursday, September 23, 2010 4:00 PM - 5:00 PM EDT
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-- Asaf.
Register here - https://www2.gotomeeting.com/register/944229602
-- Asaf.
USD/JPY Discussion 88,122 replies
Elliott Waves discussion 4 replies
GFT Forex Discussion 482 replies
Euro/Dollar discussion 9 replies
Forward Testing Discussion Thread 241 replies
DislikedThe fact of the matter is that there is a lot of money being managed these days by unprofessional and unethical people and they don't comply to any reporting requirement.Ignored
QuoteDislikedHopefully this will get addressed with the new regulations, at least in the US.
DislikedThis is more than enough for me to never even consider joining their "Trade Leader" program. What a farce some of these "leaders" are. My unborn baby can trade better than them.
A support team member will be with your shortly. Thanks for your patience while we're helping other members.
You are now chatting with 'Vishal'
Vishal: Welcome to Currensee Support. How can I help?
Bruce: Hi, I was looking at your Trade Leaders Program
Vishal: Ok
Bruce: I noticed Daniel Levy is a trade leader
Bruce: in his profile, he states he risks up to 3% of his...Ignored
DislikedHello Asaf,
First off, I appreciate your response. However, theyve done little to ally my fears.
While I do appreciate your real time performance data and appreciate it, it also shows how people will say anything to make a quick buck. Nowhere on his profile does he say he is a risky trader; in fact, his self stipulated 3% risk is indicative of a traditionally conservative trader.Ignored
QuoteDislikedI dont buy the argument that he lost 56% of his account by losing several 3% trades in a row - it is nearly statistically impossible for a trader to do that within a couple if days if he has the forex knowledge that he claims to. The drop in his account was very quick according to your chart - probably one or two days. This leads me to believe he changed his strategy completely either by holding losing trades into heavy drawdown or by taking several irrational trades (maybe to increase commissions?...)
QuoteDislikedBottom line is, if traders are being selected on months or a year of performance, are misleading about their style on their profile, and then completely change their trading and virtually blow their account and are kept on as trade leaders, only a fool would be willing to gamble away his or her hard earned money on this "investment opportunity". It's almost like me winning on a game of roulette and then pretending I'm good at it and invest other peoples money in it.
QuoteDislikedLet me ask you this question, and please answer honestly. Would you trust your money to someone who has made 100% in a year but can lose over 50% on any given day? Please think about this and provide an answer, and maybe then you'll see where a bunch of us are coming from.
Thanks for your time.
DislikedHi Asaf,
Thanks again for your honesty and willingness to accept some accountability. It's funny, if i did have to choose a trade leader to follow, Janus would probably be one of my top choices. Just based on the information you provided, it seems that most of the "followers" are relatively new to forex and are in the phase where they dream of becoming millionaires in a few months or...Ignored
DislikedAsaf,
Are these the only Trade leaders ?
http://www.currensee.com/leaderboard
Can one sign up with a corporate account for the Trade leader program ?Ignored
DislikedHello Asaf,
First off, I appreciate your response. However, theyve done little to ally my fears.
While I do appreciate your real time performance data and appreciate it, it also shows how people will say anything to make a quick buck. Nowhere on his profile does he say he is a risky trader; in fact, his self stipulated 3% risk is indicative of a traditionally conservative trader.
I dont buy the argument that he lost 56% of his account by losing several 3% trades in a row - it is nearly statistically impossible for a trader to do that...Ignored
DislikedAsaf,
You recently mentioned on Forexmagnates that the entire Currensee community only has a 6% long-term profitability rate (6% of traders are profitable >12 months of activity)....Ignored
QuoteDislikedI'm also assuming the current crop of Trade Leaders is not mutually exclusive to that 6% club (since the requirement for entry into the program is only '60 days of tracked net positive performance')....
QuoteDislikedAt very least, break out the Performance Score to show the trader's length of history upfront....
QuoteDislikedWhile you're at it, it wouldn't hurt to show the AUM as well, some of us would like to know whether these guys are handling $500 accounts or $500k accounts....
DislikedThe 6% of the community are trader which are consistently profitable - which means that they made money each month for the duration of a year. There are about 26% which were profitable for the year but lost some money in some months.Ignored
QuoteDislikedWe currently have 15 accounts that you can follow and since we have more than 12,000 account linked to Currensee this represents less than 0.15% - so this is a much smaller group than the 6% who are profitable in the community.
There is always a probability that someone who was a good trader will become a loosing trader in the next year - past performance is not guarantee for future return. There isn't a signal investment that can guarantee performance and neither do we.
We are making the selection process more rigorous as we learn more and more...
DislikedAsaf,
Any idea when brokers like Interactive,Currenex and other institutional ones will be available ? (This year ?)Ignored