huge returns on managed accounts-advice needed

independent advice

hi smarks-
yes-of course i am excited and as such maybe my judgement is affected-this is why i am posting here and conversing with aII the wise heads,who arent invoIved ,such as yourseIf!!!
why wouId you say that he sounds Iike a new trader?
just interested in why you make that concIusion-
thanks for your advice - aII very IeveI headed-
brian

Ikeano,

I think in all seriousness...

Seek independant legal and financial advice.

Do this before you get too deep. I still remain with my thoughts of you taking a back seat with this and see his colours come out in time. In short, it sounds extremely high risk/high reward and he also sounds a very 'new trader' (take that as any time definition you feel fit).

You may also be getting a bit blinded and excited about the possibilities of easy money, but of course you will deny this as you wont see it yourself.
 
hi Iee

yes-of course i am excited and as such maybe my judgement is affected-this is why i am posting here and conversing with aII the wise heads,who arent invoIved ,such as yourseIf!!!
why wouId you say that he sounds Iike a new trader?
just interested in why you make that concIusion-
thanks for your advice - aII very IeveI headed-
brian


Ikeano,

I think in all seriousness...

Seek independant legal and financial advice.

Do this before you get too deep. I still remain with my thoughts of you taking a back seat with this and see his colours come out in time. In short, it sounds extremely high risk/high reward and he also sounds a very 'new trader' (take that as any time definition you feel fit).

You may also be getting a bit blinded and excited about the possibilities of easy money, but of course you will deny this as you wont see it yourself.
 
smarks-that was meant for Iee-:)sorrrrrry-

ikeano ,
their is only one question I would be asking myself if I were you. Why is some american who I do not know willing to trade my money for me and take 30% of the profits if he can turn $50000 into $460000 in two months which is over 800% return. Why does he need to trade for you. Anyone who can make 800% return per year, never mind over a two month period does not need to trade money for someone else to make a very good living for themselves.
 
yes-of course i am excited and as such maybe my judgement is affected-this is why i am posting here and conversing with aII the wise heads,who arent invoIved ,such as yourseIf!!!
why wouId you say that he sounds Iike a new trader?
just interested in why you make that concIusion-
thanks for your advice - aII very IeveI headed-
brian


The mere fact he sounds a 'new trader' is due simply to the fact that he is using DEMO accounts and not real ones. Every one knows there is a difference between demo and real money accounts. This of course changes again when its someone else's money.

Be warned.

This is not as good as it sounds.

Get a 'real' trader to vet him for you. There are also many on here, I myself, that can smell a bad trader quicker than a bacon butty on a monday morning.

Failing that...the saying....too good to be true....springs to mind.

As Breadman says above. If he's capable of making these returns then why would he need yours. Who else's has he got? How big is his fund?

I'd personally steer clear.
 
hi smarks-
in effect he wouId be risking 15*5*10 =7500 which wouId be 15 % of the account -as i say i have never seen him do that,but this was a figure he mentioned as an absoIute maximum-


.....


2-he does not trade on margin,so a margin caII is not a possibiIity

1)15% is an absurd amount of risk per position - if he seriously suggested that, he's an idiot. I'd be cautious if he suggested more than 1%...

2) 50% return in a week without using margin? Either he doesn't understand margin, he's lying, or he's playing with penny stocks - whichever it is, you should stay well clear.

their is only one question I would be asking myself if I were you. Why is some american who I do not know willing to trade my money for me and take 30% of the profits if he can turn $50000 into $460000 in two months which is over 800% return. Why does he need to trade for you. Anyone who can make 800% return per year, never mind over a two month period does not need to trade money for someone else to make a very good living for themselves.

Exactly, if he can consistently trade like this he claims, why not trade his own money? If he doesn't have enough money, that's pretty suspicious - he's supposed to be an exceptionally good trader. In fact, why doesn't he just get a loan to trade if he's so confident?
 
This guy aint no Richard Dennis! :p
But if he is, then you'll be rich!

Remember, in order for such high returns, I'm guessing this guy exposes himself to a TON of risk in each trade. You could lose big if you invest with this dude.
 
Must really be the silly season upon us with a vengeance, particularly as more and more of these imbecilic threads are cropping up here, be it software promising the moon, dubious, illiterate characters looking to seed traders making at least 30% / month, or this particular BS.

Reading this total nonsense exposes a basic human flaw perfectly that provides Con Artists United with such an amazingly easy time in attracting fresh bate.

The promise of abundant and easy money - of course always without any independently audited proof of prior, long term, and consistent achievement whatsoever, lol - is for very many people an instant invitation to go transfer unlimited funds to their scam artists of choice, and immediately afterwards go lie down and switch their grey matter off, at least until the inevitable rude awakening.

Caveat emptor, what sounds too good to be true IS too good to be true.

What is really sad about this is that far too many people short change themselves with their short term, greed induced gullibility, people could achieve far more with their lives if they would stop over-estimating what is possible in the short term, while severely under-estimating what long term commitment can achieve, coupled with the incredible power of compounding.

Before anybody decides to give the particular scam artist portrayed in this thread or his kindly introducer any money - lol, nobody wondering why such an alleged outperformer is going after small fry in the first place and doesn't have the likes of Mr. Soros bending over backwards to seed him -, more fun can be had by simply arranging a bonfire with your paper cash, and maybe a bottle of wine or two to help the fun along.

And that comes with a guarantee.
 
Did Spanish move to the US then ?????

My take is it's a scam of some sort. My take is also that ikeano really knows this deep down but will do it anyway.

All of Ikeano's "yes I hear you, but what if it IS true ?" comments are merely a symptom of Ikeano wanting it to be true.

People that make these returns consistenly would need a pittance to trade themselves up to a million. It's called compounding.
 
My take is it's a scam of some sort. My take is also that ikeano really knows this deep down but will do it anyway.

All of Ikeano's "yes I hear you, but what if it IS true ?" comments are merely a symptom of Ikeano wanting it to be true.

People that make these returns consistenly would need a pittance to trade themselves up to a million. It's called compounding.

Absolutely !

My personal take is that ikeano is the scam artist himself working on some pull marketing.

Wouldn't want to know how many PM's he's received already asking who the "magician" is, a magician who as you rightly point out wouldn't need a cent of anybody elses money if even one tenth of what he claims were true, or, if he wanted to start a fund, and he had any kind of a legitimately audited track record, he would have so many billions being thrown at him he wouldn't know where to start.

But a self-styled magician with no long term audited track record but a big mouth ?

Typical woulda-coulda-shoulda con-artism 101.

And then 6 months down the line we'll see threads again ooh-some-gangsters-robbed-my-money-how-can-I-get it-back...
 
BSD,

The system wont allow me to rep you twice so I would like you to know I agree totally with both your posts written here.

Ikeano, come on mate, wake up. If not, simply invest your money in this magician, you know the one, takes your money, makes it disappear then laughs at the mug that gave him the money, the audience usually joins in the laughter as well because they know exactly what will happen.
Put it this way, what your thinking is...the only way I can really find out if this IS true or not is to throw my money at it. Dam I'd love to prove all these posters wrong. If I am wrong, hey, I'll just disappear like my money.

Give it bud. Find something else.
 
Ikeano, come on mate, wake up. If not, simply invest your money in this magician, you know the one, takes your money, makes it disappear then laughs at the mug that gave him the money, the audience usually joins in the laughter as well because they know exactly what will happen.

Well said mate !

:LOL:
 
hi Iee

hi Iee-
you shouId stop eating those bacon butties-theyre bad for the choIestroI-
To answer your query-He used a demo account for a few months as i had asked him to-
he is new to managing accounts for peopIe-aIthough he did manage an account for a friend Iast year,using an OIder version of the system,he has since improved it according to himseIf,-
on that account last year-he doubled it in 4 and a half months-
he sent me the statements but i have not yet verified their authenticity,but intend to when i travel over there.,
currently-he trades 2 accounts of 10 k each which according to himself,he has doubIed in about 4 months-
his strategy here is by his own admission much more conservative than what he did on the demo accounts,where he was taking big risks with certain positions-
he did say that at the time and added that he wouldnt always trade that way ,etc,,,
on the demo -there was a drawdown of 25 % approximately at one stage.
he is currently managing 2 accounts at 50 k each for 2 friends who are brothers ,he only started these last week,the current balance is 70 k or thereabouts-again i have not verified the account but intend to do so.
i will meet with the broker when i am out there-allegedly the broker is talking about having some clients funds managed aswell-
but as i say i need toi meet him to verify that.
this account has only been traded for a week and a half so it is too small a time to make serious conclusions-but in summary,he seems to be taking slightly more losses in percentage terms but the actual point loss is much lower than it had been on the demo-
i need to speak with him about this and try to figure out what has changed and why,
do you know anyone who wouId vet this guy for me?
thanks-brian


=Lee Shepherd;473471]The mere fact he sounds a 'new trader' is due simply to the fact that he is using DEMO accounts and not real ones. Every one knows there is a difference between demo and real money accounts. This of course changes again when its someone else's money.

Be warned.

This is not as good as it sounds.

Get a 'real' trader to vet him for you. There are also many on here, I myself, that can smell a bad trader quicker than a bacon butty on a monday morning.

Failing that...the saying....too good to be true....springs to mind.

As Breadman says above. If he's capable of making these returns then why would he need yours. Who else's has he got? How big is his fund?

I'd personally steer clear.[/QUOTE]
 
Ikeano,

Oh dear,

Your already in too deep, as phil collins would say.

Just invest your money mate and get it over with. I'm wasting my time here.

N.B: for anyone that thinks this is harsh, read back through all the posts here first and understand them before commenting. Ikeano has, unfortunately for him, not done this.
 
i came across(on a wbsite that i subscribe to) a trader who is based in the usa 3 months ago,he said that he has traded eminis for the past 8 years or so and that 2 years ago ,he noticed a pattern that recurs with amazing frequency in the markets-on that basis he has honed ,tinkered with and improved the trading methodology to a point where he currently gets 90 % of his trades correct,
on that basis ,i asked him to open a demo account and trade it for a few months-so that he could prove his claims to me-he did this with an established brokerage and within 2 months had turned a demo account from 50k to 460k.

"noticed a new pattern"...

Wow, real genius, eh ?

"90% hit rate"

Incroyable...

"within 2 months had turned a demo account from 50k to 460k."...

Gushgushgush...

currently-he trades 2 accounts of 10 k each which according to himself,he has doubIed in about 4 months-

Claims to have turned 50K into 460K in two months, yet now is trading only two accts of 10 k that he says he has doubled in 4 months...

medium-smiley-002.gif


Hey buddy, there is a member here who has a very apt saying in totally hopeless cases like this that I'll just nick if I may:

Elitetrader.com thataway----------------------------------------------------------------------->
 
hi bsd

thanks for your very kind words-
i have not tried to elicit support at any time for this trader-
and i dont take kindIy to being touted as a scam artist ,especiaIIy by somebody who knows nothing about me or my background-
of course i reaIise that its easy to be brave on a forum such as this ,i have not insuIted you ar anyone eIse on the forum and wouID appreciate that you show the same respect to others as has been afforded to you-
this is not a sIagging shop,
strangeIy i have received no pms about this ,im sure you couID check that with the admoinistrator if you feeI the nedd,
as i say -i have ono interest here but to check out the system for myself-
try and keep it cordiaI Iads-there is nothing to be gained by conducting character asassinations-
thanks for aII your input so far-brian
a
Absolutely !

My personal take is that ikeano is the scam artist himself working on some pull marketing.

Wouldn't want to know how many PM's he's received already asking who the "magician" is, a magician who as you rightly point out wouldn't need a cent of anybody elses money if even one tenth of what he claims were true, or, if he wanted to start a fund, and he had any kind of a legitimately audited track record, he would have so many billions being thrown at him he wouldn't know where to start.

But a self-styled magician with no long term audited track record but a big mouth ?

Typical woulda-coulda-shoulda con-artism 101.

And then 6 months down the line we'll see threads again ooh-some-gangsters-robbed-my-money-how-can-I-get it-back...
 
I've kept out of this so far as the feeling of my head connecting with a brick wall hadn't faded with spanish.

If you have the patience it's easy to create an account with a fantastic record.

Step up multiple demo accounts and trade half of them one way and the other half the other. Abandon the accounts that lost and then split the remaining in half and trade them either way etc until you're down to one account.

It's wouldn't be hard doing say 5 trades in a month like that to build up a nice profit in that time with a 100% record - that's 32 accounts initially - with you abandoning 16 of them after the first trade.

I'm not saying this is what your guy did - but you should view anyone who wants your money like this with suspicion.
 
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Ikeano, your nonsensical, naive, wishful thinking posts here can have only three raisons d'être:

A: you are the scam artist himself...

B: you are in cahoots with the scam artist...

or

C: you are gullible to the point of debility...

But only one thing is guaranteed...

Anybody even contemplating sending this scam artist with no audited track record any money is going to wake up one day with a whole lot money less.

I've kept out of this so far as the feeling of my head connecting with a brick wall hadn't faded with spanish.

If you have the patience it's easy to create an account with a fantastic record.

Step up multiple demo accounts and trade half of them one way and the other half the other. Abandon the accounts that lost and then split the remaining in half and trade them either way etc until you're down to one account.

It's wouldn't be hard doing say 5 trades in a month like that to build up a nice profit in that time with a 100% record - that's 32 accounts initially - with you abandoning 16 of them after the first trade.

I'm not saying this is what your guy did - but you should view anyone who wants your money like this with suspicion.

Absolutely.
 
hi hoggum

hoggum
there were 3 seperate demo accounts ,the first two for 2 weeks and the trhird for a month-they were aIl reset with seperate passwords,which i had access to aswell as the trader,
the chances of him getting it right on 3 accounts is 12.5 % if he was using a scam to lure me as you rightly point out that he may have been doing,
Thanks for the reply-brian


I've kept out of this so far as the feeling of my head connecting with a brick wall hadn't faded with spanish.

If you have the patience it's easy to create an account with a fantastic record.

Step up multiple demo accounts and trade half of them one way and the other half the other. Abandon the accounts that lost and then split the remaining in half and trade them either way etc until you're down to one account.

It's wouldn't be hard doing say 5 trades in a month like that to build up a nice profit in that time with a 100% record - that's 32 accounts initially - with you abandoning 16 of them after the first trade.

I'm not saying this is what your guy did - but you should view anyone who wants your money like this with suspicion.
 
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