Not only that he makes recommendations for which trades to take
So do hundreds of other market tip newsletters. Anyone can give stock tips, they don't have to be registered or licensed to do so.
or indeed takes the trades himself on a managed account. This is backed up with fake claims about past profitability dating back several years (100% plus a year).
It takes 6% per month to double the account. Can a forex trader hit the 6% mark? Given that some months may be more and some less? Can a trader make 15% in a month? If they do have a good month, then due to compounding, they could still be on track even if they only make 3% the next.
SonicSunburst said:
Would the client have wired their funds to the "phantom" broker without Senna's involvement?
Possibly, but their minimum account size is out of reach for most (over 1 million $). Does it sound reasonable that a company who normally works with millionaires would prefer someone else work with Joe Public who has $10,000? Look at all the questions in this thread and then multiply that by 2,000 people. ProphetMax is the one fielding all the questions and concerns, while the broker's only job is to handle crediting and debiting accounts and sending out statements.
Members are not obligated to invest any money. One could learn all about the opportunity and then look around to see if it is available elsewhere. There are managed accounts offered elsewhere, but as has been mentioned on this forum, most lose money. This is not surprising if it is the case that only 5% of traders make money. That could mean that 95 out of 100 managed accounts will also lose money. If there are consistently successful traders and only some offer managed accounts there are very few that will be profitable.
You can invest from a technical standpoint, or you can find people that make money and follow their lead. You can make money or lose money either way, but if you find the right people, your batting average should be higher. At this point I believe Senen and company know how to make money in forex.
This forum has has a whole section dedicated to psychology. This suggests it is a significant factor. Senen is teaching how to approach the psychological aspect so that it serves the member in relation to achieving their goals, both financial and otherwise. He says he has found traders who are consistently successful. Is it true or false? The results on his website say it is true. He has stated the broker would not allow unsubstantiated claims to be made if they didn't have verification. The traders use the broker, so the broker can verify. At this point it is up to the member do decide if it is worth trusting Senen and company.
Some people look for reasons to trust and some look for reasons to doubt. The evidence for me is tipping to the positive side. Does that mean I am 100% satisfied? No. For the moment though, I have more reasons to carry on rather than bow out.
