College Fund Challenge

This is a discussion on College Fund Challenge within the Trading Journals forums, part of the Reception category; Originally Posted by tkbieber I apologize, as I thought you were joking. After doing some reading you may be correct. ...

View Poll Results: How close to my goal of $2,000,000 do you think I will get?
You think I will blow the account and my $100 will be lost. 79 58.52%
You think I will somewhat earn a profit $200-$1,500. 17 12.59%
You think I will get a pretty good return but not close to $2,000,000. 27 20.00%
You think I will get way more then $2,000,000. 12 8.89%
Voters: 135. You may not vote on this poll

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Old Sep 2, 2011, 8:43pm   #257
Joined May 2011
Re: College Fund Challenge

Quote:
Originally Posted by tkbieber View Post
I apologize, as I thought you were joking. After doing some reading you may be correct. Well, it was only $100 but it is frustrating that I need to start over again. I think I will let it ride anyway but need to find a broker that is legit. Anyone know of a good broker??

My criteria is: Accepts US citizens, at least 1:200 leverage, (paypal or alertpay preferred), as well as bankwire for deposits/withdraws. If no alertpay or paypal then credit card would work. I'm just depositing $100 anyway.

I already have ******** and fxdd as brokers and want to diversify for now the obvious reasons.

Sorry then, I have to say that Hot Forex is looking like the same trash like IntelFx.
FXDD does not allow micro lots to trade with, I have a live account with them too.

Although I cannot tell you brokers based on your criteria right now, my advice would be:
Forget every "broker" which accepts Liberty Reserve and/or Perfect Money for payments.
Both are an anonymous payment service.

Which company accepts and sends anonymous payments and gives a sh!t about who you are actually?
The answer is: The SCAMMERS. They don't care about you, they only care about your money.

My second advice would be that you should think twice having more than $300.000 at once in any forex brokerage account.
It is not safe as there is no online broker which is immensely trustworthy in the world. Actually nothing is.
Why am I telling you this, is that you should recalculate your compoundings based on that you cannot have millions in a brokerage account at once.

Last edited by victor_db; Sep 2, 2011 at 8:50pm.
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Old Sep 2, 2011, 11:10pm   #258
Joined Sep 2010
Re: College Fund Challenge

tkbieber started this thread
Quote:
Originally Posted by victor_db View Post
Sorry then, I have to say that Hot Forex is looking like the same trash like IntelFx.
FXDD does not allow micro lots to trade with, I have a live account with them too.

Although I cannot tell you brokers based on your criteria right now, my advice would be:
Forget every "broker" which accepts Liberty Reserve and/or Perfect Money for payments.
Both are an anonymous payment service.

Which company accepts and sends anonymous payments and gives a sh!t about who you are actually?
The answer is: The SCAMMERS. They don't care about you, they only care about your money.

My second advice would be that you should think twice having more than $300.000 at once in any forex brokerage account.
It is not safe as there is no online broker which is immensely trustworthy in the world. Actually nothing is.
Why am I telling you this, is that you should recalculate your compoundings based on that you cannot have millions in a brokerage account at once.
Thus far, I have had no problems withdrawing from Hotfx and have always received my funds within 24-48 hrs. HotFX seems to be very professional and have always answered my questions when doing a on-line chat with them.

Yes, I am diversifying funds. So what do the "big" guys do when they trade their millions? Do they just keep opening up broker accounts and divide their funds?

You make is sound bad enough that this should be on 60-minutes or some TV show to expose the FX market, which is a 3 trillion $ a-day business/scam? I am gathering that a few bad apples give a sour taste to all brokers.

Well, I've never made it to the million-dollar range yet so this is why the experiment or challenge I have posed upon myself. I am learning as I go as the account get's bigger.

I am looking into a broker called Traders Trust. I spoke with a rep. They seem to be legit with very low spreads on the GBPUSD. I may start up $100 account and let it go for two years.

Every since the "hack" of Intelfx, I haven't been able to log into my account on-line so it is disturbing to read what others are saying. I have that thing up to $700 and now have to start again? Grrrrr!

The quest continues.
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Old Sep 3, 2011, 10:22am   #259
Joined May 2011
Re: College Fund Challenge

Quote:
Originally Posted by tkbieber View Post
I am looking into a broker called Traders Trust. I spoke with a rep. They seem to be legit with very low spreads on the GBPUSD. I may start up $100 account and let it go for two years.

You should seriously seek for professional advice if you find this broker "legit" also.
forexpeacearmy.com/forex-forum/spammers-hall-shame/traders-trust-com-spamvertising
Read the AsstModerator's advice...

They are also accepting LibertyReserve. There are very very high chances that you won't see too much of your profit.
Please don't dig your head into sand and tell yourself that "this must be legit, cause I talked to a Rep.".
Talking to a Rep. does not mean ANYTHING.
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Old Sep 3, 2011, 1:12pm   #260
Joined Sep 2010
Re: College Fund Challenge

tkbieber started this thread
Quote:
Originally Posted by victor_db View Post
You should seriously seek for professional advice if you find this broker "legit" also.
forexpeacearmy.com/forex-forum/spammers-hall-shame/traders-trust-com-spamvertising
Read the AsstModerator's advice...

They are also accepting LibertyReserve. There are very very high chances that you won't see too much of your profit.
Please don't dig your head into sand and tell yourself that "this must be legit, cause I talked to a Rep.".
Talking to a Rep. does not mean ANYTHING.
Yeah, I already decided not to use them. For now, it's just easier for me to start a new Hotfx account and transfer funds so by Monday, I'll have a fresh account with about the same amount as Intel's current balance.
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Old Sep 4, 2011, 10:30am   #261
mjj
Joined Mar 2005
Re: College Fund Challenge

I personally spend hours trawling through the forexpeacearmy.com broker reviews. I look for a broker with at least 20+ reviews and a star rating greater than 4. You always get a few one off negative reviews from disgruntled punters who have lost a lot of money but after reading a few pages of reviews you get a general picture on the quality of the broker. I have just opened up an account with SmartTradeFx http://www.smarttradefx.com after reading almost every review on Forexpeacearmy.com. I now have accounts with SmartLiveMarkets, ******** and SmartTrade. However, in this day and age I would never trust any one broker with tens of thousands of my cash. I think the key here is to diversify your broker risk.

Last edited by mjj; Sep 4, 2011 at 10:24pm.
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Old Sep 5, 2011, 1:35pm   #262
Joined Sep 2010
Re: College Fund Challenge

tkbieber started this thread Ok, well some changes to my $2M goal account.
Intelfx is pretty much a wash unless I ever hear from them and can withdraw what is in there.
Over the weekend I opened a fresh account with $600 +15% bonus.

The deposit didn't have time to reach the account before a trade happened last night but now it's ready.

You can view my portfolio of three public accounts here.

For me, I got +2 pips last night on the group account so that is what I will declare for today.

You will note that I have changed monitor services to Myfxbook. They give so much more detail with the account so I like it.
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Old Sep 5, 2011, 3:40pm   #263
Joined Oct 2010
Re: College Fund Challenge

Quote:
Originally Posted by tkbieber View Post
Ok, well some changes to my $2M goal account.
Intelfx is pretty much a wash unless I ever hear from them and can withdraw what is in there.
Over the weekend I opened a fresh account with $600 +15% bonus.

The deposit didn't have time to reach the account before a trade happened last night but now it's ready.

You can view my portfolio of three public accounts here.

For me, I got +2 pips last night on the group account so that is what I will declare for today.

You will note that I have changed monitor services to Myfxbook. They give so much more detail with the account so I like it.
Yes 2 pips for me
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Old Sep 5, 2011, 3:43pm   #264
Joined Oct 2010
Re: College Fund Challenge

Quote:
Originally Posted by tkbieber View Post
Ok, well some changes to my $2M goal account.
Intelfx is pretty much a wash unless I ever hear from them and can withdraw what is in there.
Over the weekend I opened a fresh account with $600 +15% bonus.

The deposit didn't have time to reach the account before a trade happened last night but now it's ready.

You can view my portfolio of three public accounts here.

For me, I got +2 pips last night on the group account so that is what I will declare for today.

You will note that I have changed monitor services to Myfxbook. They give so much more detail with the account so I like it.
What broker have you opened the new account with?
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