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Bad trader or real scam?

  • #41
  • Aug 22, 2014 3:39am Aug 22, 2014 3:39am
tommy64, from my professional standpoint, this trader is not a scammer. he is a bad trader.

I take back what I said about the commission scam, seeing as the trader was operating your friend's account on FXCM, there is no commission going to the trader automatically.
  • #42
  • Aug 22, 2014 3:53am Aug 22, 2014 3:53am
Quoting forks
there is no commission going to the trader automatically.
Unless he is also an IB for FXCM ...
MT4/MT5 EAs/Indicators/Alerts coder
  • #43
  • Aug 22, 2014 3:59am Aug 22, 2014 3:59am
Quoting forks
tommy64, from my professional standpoint, this trader is not a scammer. he is a bad trader. I take back what I said about the commission scam, seeing as the trader was operating your friend's account on FXCM, there is no commission going to the trader automatically.
Thanks for ur analysis Forks
  • #44
  • Aug 22, 2014 4:01am Aug 22, 2014 4:01am
Hello check the date it happened, NFP may have been involved in an unprotected position.
Cheers
  • #45
  • Aug 22, 2014 7:11am Aug 22, 2014 7:11am
Quoting tommy64
Hi all, My friend know a good currency trader then decide to give him the management of his account. (He open his account in a well known forex broker F___.com) Account start from 320k usd then reach 454k (gain +134k) in 15 days. He deposit 466k more in his account to reach 920k, 1 month later account reach 1407k (gain +487k). He deposit 961k more in his account to reach 2368k. 2 months later, account turn down to 250k. My question is : Can this trader and the broker associated to scam my friend ? Thanks for all for comments and ideas {image}

I dont trade a 900K account but im not far away either.
that is why I suggest analyzing all the trades placed. and reasons for those trades.
One thing is certain. It is almost mathematically impossible to blow a 950K account. Unless you do it on purpose or get caught into extremely bad trades.
there is always a way out.
but then again it depends on the position size.
  • #46
  • Aug 22, 2014 9:23am Aug 22, 2014 9:23am
It'd better he withdrew those money and invested in more safe type assets - realty for example. Forex is a type of gambling where is an imminent day you will blow up you account and our second mission after getting profit is prevent this day to come.
  • #47
  • Aug 22, 2014 10:08am Aug 22, 2014 10:08am
Quoting leebsurag
It'd better he withdrew those money and invested in more safe type assets - realty for example. Forex is a type of gambling where is an imminent day you will blow up you account and our second mission after getting profit is prevent this day to come.
if you trade as a retail trader yes. That day is imminent.

if you think and trade as a bank. If you sell when retailers buy and buy when they sell then that day will never come up.
I did not redeposit in over 3 years in my FX account. its also a gamble when you purchase a house today to sell it in 5-10-15 years.
there are Black jack players that are not allowed to set foot in a casino because of mathematically counting cards and destroying the dealer.
There is always a way to make it happen.
its all about having the right state of mind and able to control your emotions.
People that practice "religious trading" are obviously looking at their acc being blown away at some point.
imbalance in the number of supply and demand of a certain asset and understanding that imbalance and when it takes place is crucial in my day to day trading.
  • #48
  • Aug 22, 2014 1:03pm Aug 22, 2014 1:03pm
send round the boys, 10-25k should cover it, and ask for some or all of the money back
if he's made a million, he should know the right kind of folks to send around

and next time around, just buy shares in the next decent pullback
there's plenty that double in 1 - 2 yr cycles

but who would be daft enough to give a stranger a million anyway
  • #49
  • Aug 22, 2014 6:28pm Aug 22, 2014 6:28pm
Quoting LetUsTrade
{quote}there are Black jack players that are not allowed to set foot in a casino because of mathematically counting cards and destroying the dealer.
Counting cards is no longer possible with the suffling machines ...
MT4/MT5 EAs/Indicators/Alerts coder
  • #50
  • Last Post: Aug 22, 2014 7:29pm Aug 22, 2014 7:29pm
http://www.forexfactory.com/showthread.php?p=7691188
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