Anyone else banned from Currensee threads? | Forex Factory

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Anyone else banned from Currensee threads?

  • #1
  • First Post: Edited 2:23pm Sep 9, 2010 11:04am | Edited 2:23pm
I went to post a comment on one of the Currensee threads and found that I'd banned.

I can only guess that it was because I asked Asafyigal what his former username was. Since his business is founded on transparency, I didn't think it was an outrageous question. He tells of being bullied here under his former username and I was interested in seeing examples.

Also, reading a few of his posts would only be normal due diligence. Does anyone here know who Asafyigal was in his former life here? I'd rather not have to ask it this way but apparently Asaf's transparency has limits when applied to himself. If you ask a question as simple as "What is your other username?" you'll be ignored. If you ask again you'll be banned. This says at least as much as a truthful answer would.

Asaf himself stated that he was a member under another name. This isn't speculation.

BTW, the only other thread I've ever been banned from was the "Jacko/Mentor" thread.
  • #2
  • Sep 9, 2010 6:42pm Sep 9, 2010 6:42pm
Count me in as being banned by Asaf...also because I wanted to know what the prior user name was, so it appears that Mr. Transparency is quite opaque. The threads that I have been banned from are:

1. Shakefx's
2. Wisdomfx
3. Jacko's mentor
and now by dear Asaf.

He is in good company this fellow Asaf, which makes me wonder even more why he at all costs hides his prior username. If there is smoke there is fire, no doubt about it.


Quoting billflet
I went to post a comment on one of the Currensee threads and found that I'd banned.

I can only guess that it was because I asked Asafyigal what his former username was. Since his business is founded on transparency, I didn't think it was an outrageous question. He tells of being bullied here under his former username and I was interested in seeing examples.

Also, reading a few of his posts would only be normal due diligence. Does anyone here know who Asafyigal was in his former life here? I'd rather not have to ask it this way but apparently...
  • #3
  • Sep 9, 2010 7:25pm Sep 9, 2010 7:25pm
hi all....


Oh wwwin.....you have been a busy boy..

My list is only ...Shakefx, WisdomFX....maybe another..would need to check..

And on both of those...our arguments were spot on...

So where do I find this ....Asaf...lol


Angler
  • #4
  • Sep 9, 2010 10:08pm Sep 9, 2010 10:08pm
Quoting Angler
hi all....


Oh wwwin.....you have been a busy boy..

My list is only ...Shakefx, WisdomFX....maybe another..would need to check..

And on both of those...our arguments were spot on...

So where do I find this ....Asaf...lol


Angler
Welcome back from hibernation Angler.
Here he is, http://www.forexfactory.com/showthread.php?t=247047
why don't you ask him why he has 2 usernames and which is the first one and you will join the club.
  • #5
  • Edited 5:25pm Sep 14, 2010 1:27pm | Edited 5:25pm
Originally Posted by cloggie:
Yeah, you have already described your due dilligence process, which is wholy lacking when compared to the industry standard.

As always buyer beware and the readers here know by now to give you a wide berth.


asafyigal
Commercial Member

Member Since Jul 2009
115 Posts
What industry standard?

The reality is that there is no Industry standard at the moment as most money managers that operate today fall under some exemption and have no requirement to report anything or in any specific way.

We are actually doing more than the FSA and the CFTC is doing with respect to managing Trade Leaders and due diligence process but I guess that since you don't really know the material it's going to be useless for me to try and have an educated discussion.

-- Asaf.

Asaf, why do you have to be so sarcastic? You really need someone to handle your PR work.

It seems You are confused about what the meaning of "industry standard". The definition of Industry Standard is not merely what is required by law. It means what is normal and acceptable within a particular industry. For instance, how does Fidelity Investments or T. Rowe Price recruit, screen and train money managers?
Just because you may meet legal requirements within a largely non-regulated field doesn't mean that you meet or exceed industry standards.
If you are comparing yourself (and let's hope not) with the other members in the evaluation bin then, yeah, you probably meet or exceed those standards.
But I believe Cloggie was referring to the "outside of the bin" financial world.
  • #6
  • Edited 5:19pm Sep 14, 2010 5:08pm | Edited 5:19pm
Nobody is going to pay 22% to be led by a blind retail trader with 2 months of track record, when the money can be managed by a pro firm with 20 years track record for less then 10% of what they want to charge. Stacking the odds against you from the beginning never had a more glaring example. You pay 22% plus spread to follow somebody that knows the same or less than you. Something here does not add up.
And since when is the minimum requirement the industry standard?
What amazes me is that this company continues to alllow this guy to post all this non-sense which is really discrediting the company.
And now the CFTC says that they can only use one introducing broker. I wonder how much seed money is left. Talk about an accident waiting to happen. When the money crunch hits them straight in the jaw, they will have to come up with new products, such as selling info to prolong the inevitable.
  • #7
  • Sep 14, 2010 6:50pm Sep 14, 2010 6:50pm
By wwwin:
Nobody is going to pay 22% to be led by a blind retail trader with 2 months of track record, when the money can be managed by a pro firm with 20 years track record for less then 10% of what they want to charge. Stacking the odds against you from the beginning never had a more glaring example. You pay 22% plus spread to follow somebody that knows the same or less than you. Something here does not add up.

They are relying on people who have no financial savvy whatsoever for their customer base. There will always be people who'll believe someone with a 2 month track record, especially if he has a title like "Team Leader".

And since when is the minimum requirement the industry standard?
What amazes me is that this company continues to alllow this guy to post all this non-sense which is really discrediting the company.

Right. The industry standard is what is normal and accepted as proper. Of course if we're talking about the industry of fleecing the unwary public, then it's probably up to par. But if we're talking about the business of financial advisory, a two month track record is rather laughable. This is an industry where even the best of the best can have losing months and the worst of the worst can have a 2 month lucky streak. Basing someone's fitness on a 2 month track record is no better than pulling a name out of a hat. Will Asaf put his own money on an unknown Currensee "Team Leader"?


And now the CFTC says that they can only use one introducing broker. I wonder how much seed money is left. Talk about an accident waiting to happen. When the money crunch hits them straight in the jaw, they will have to come up with new products, such as selling info to prolong the inevitable.
Hey, gotta make money somehow.
  • #8
  • Edited 7:52pm Sep 14, 2010 7:38pm | Edited 7:52pm
This is what Cloggie has been talking about, they let this one in based on a few months trading and then wham, the guy loses over 80% the last 3 months. What kind of risk management is that? What kind of DD are they doing on these Trade Leaders?

http://app.currensee.com/forexpert/e.../profile/DALWE

Now add the 22% management fees and this guy is sure to bankrupt you in no time.

These sounds like the commercial section at FF on high octane.
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  • #9
  • Edited 11:13pm Sep 14, 2010 10:27pm | Edited 11:13pm
The annualized returns posted of the "Trade Leaders" as posted by Currensee.com are very misleading and are not a true meaure of profitability for the member following the leader if the member joins the upcoming "Trade Leader Investment Program". Mr. Transparency needs to come up with an accurate way of telling the member what he would have made had he followed the leader. The numbers posted do not take into account the 20% + 2 % that is skimmed right off the profits anytime there are profits in a month. Of course, when the "leader" has a losing month you bear 100% of the loss. They don't contribute back to you anything that you paid the prior month if it was profitable.

These are meaningless numbers that they are throwing at you to get you to join the follow the "Trade Leader Investment Progam". For somebody that prides himself on true metrics and transparency, this type of reporting is a travesty. Let's see how many noobs they can convince into paying them money while realistically having a very very little chance of making money in the long run.
  • #10
  • Jan 22, 2011 7:31pm Jan 22, 2011 7:31pm
Currensee just delted my so called "hot topic"-thread, I was posting quite a while, along with other people, if it would be possible to get a proper forum on currensee.
After no constructive reply form the staff, I opened a thread asking to move relevant discussion over here to the commerical currensee section of FF. Also it seems that the currensee staff is much more active on this site than on their own!
I will keep posting on currenss till they bann me, so I wount feel guilty for all the people losing their money while following a leader.
By the way the number 1 leader mentioned in the forbes article crashed, lost 60% of his account on one day.

- Klinsmann
  • #11
  • Jan 23, 2011 10:59am Jan 23, 2011 10:59am
why.....wha



He even banned his top team leader. I can't see why they make such a fuss about this guy lossing 30%(in one day), the people that go there would of loss more then that by themselfs anyways. they just dont have what it takes to do it themselfs however, they depend on people like this to take the losses for them.

Quote
I am also very interested to see an explanation of Rafat Haque's losses from your risk management point of view? He just lost more than 60% of his account in one day and since he was one of your top leaders my guess most of the people was heavily invested in him and lost at least 30% of their accounts in one day. Don't you think this is a major fail of your whole screening process and risk management system ?
Trader Keit ... Methods Of A Dirt Road Mad Man....
  • #12
  • Mar 3, 2011 2:52pm Mar 3, 2011 2:52pm
Curresee continues to make it very difficult to have a open discussion on their site by making it impossible to access topics that are "not active" another word would be delteting any topic that includes criticisem about their questionable "Trade leader program".

Anyway, seems that their propaganda is working, today I read on google news "Currensee Hits $2 Billion Milestone in Volume Traded Through Trade Leaders Program" that means that they are making (only with their service fee, which is 2% of your trading volume, of course it doesnt matter if you win or lose)
a profit of 4 MILLION dollars!
  • #13
  • Mar 4, 2011 1:16pm Mar 4, 2011 1:16pm
The fee is 2% of notional amount traded? Are you sure? That seems awfully high to me..
  • #14
  • Last Post: Oct 26, 2011 11:13am Oct 26, 2011 11:13am
anyone able to find the corporate account that holds the basket of the trade leaders?
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