ProphetMax, Senen Pousa - any info?

[SonicSunburst]

I have an appointment to go to. I can't listen live. Senen is trying to tell everyone that the 62% loss is a figment of the collective imagination. 'Don't worry about it.'

But isn't Senna just referring clients to the managed service? Why is he making any comment on the results, good bad or otherwise? The broker should be the only one communicating with clients if the initial introduction was only a referral.

That aside, does the one day result of a 62% loss marry with the risk profile in the MDA agreement? i.e. Is the trading strategy and risk management that you agreed to aggressive enough to allow for a loss like that? If it is then you just wear it.

Another point you guys may not be aware of, is that most FX brokers are market makers and don't hedge the majority of their risk. If you lose, they win. They also regularly share those profits they make from clients with those that introduce the business to them.

So while you lost 62% last night, it's highly possible that IIC pocketed a % of your loss. They took a cut of the spread, and they also took a cut of your loss. I know market makers who will rebate up to 50% of the client's losses to the introducer.

For your own peace of mind, you should straight our ask both the broker, and Senna what fees and commission both parties are making from you. You may find that both parties have a vested interest in you losing all your money. If they were located in Australia they would have to disclose all this in the FSG, but because the broker if offshore you may not get an honest, straight answer anyway.

 

[ProphetMax Member]

But isn't Senna just referring clients to the managed service? Why is he making any comment on the results, good bad or otherwise? The broker should be the only one communicating with clients if the initial introduction was only a referral.

Excellent points.

That aside, does the one day result of a 62% loss marry with the risk profile in the MDA agreement? i.e. Is the trading strategy and risk management that you agreed to aggressive enough to allow for a loss like that? If it is then you just wear it.

I agree, I wear it. However, Senen's marketing presents a picture that trading stops will not exceed 2%. His back dated trades backs it up.

Another point you guys may not be aware of, is that most FX brokers are market makers and don't hedge the majority of their risk. If you lose, they win. They also regularly share those profits they make from clients with those that introduce the business to them.

I don't doubt that.

. . .but because the broker if offshore you may not get an honest, straight answer anyway.

Senen stated in the webinar that the broker is in the US. Perhaps a deal he put together last week.

 

[ProphetMax Member]

Yeah, I lost 62% today!

I can live with that. The value of participating in this forum is that I didn't do what I was planing to do -- wire more money to Senen!

 

[ProphetMax Member]

In the webinar, Senen says he will have to talk to the head trader after the webinar is completed. Senen wanted to verify the trade and possible the reporting is in error.

 

[SonicSunburst]

Excellent points.
I agree, I wear it. However, Senen's marketing presents a picture that trading stops will not exceed 2%. His back dated trades backs it up.

Ok so there are a number of issues here. If Senna was presenting the Managed FX service to you, quoting returns and giving examples etc, I think all can agree that this is not a referral. Senna is actively involved in promoting the service.

The next question is, did Senna represent the service accurately? Why did he present 2% stop loses if the MDA agreement allows for a 62% loss in a single trading day? Something is not right here.

Senen stated in the webinar that the broker is in the US. Perhaps a deal he put together last week.

Where is the broker that you signed up with? Don't you have an application form, paperwork, disclosure documents etc? You should have an agreement direct with the broker who is trading your account. You should know exactly who they are, where they are located, and who they are regulated by. Do you have this paperwork?

 

[snowlady]

OK - I'm joining in here. My husband got involved in this ProphetMax "membership" thing a couple of months ago at the urging of his brother. Alarm bells went off in my head because of the "too good to be true" returns that were being mentioned. Also, when I tried to find out ANY information about it, pages and pages of search results all pointed to sites, etc that were obviously theirs. I tried more obscure search engines and came across this forum.... when I first found it, it was only 4 pages long.... We have only paid the fee for the ProphetMax program - which is an educational sort of thing - but in my opinion only - not worth the large price we paid - over $2000 USD. I really, really do not want to invest any money in this. Its very scary - My husband and I are just a regular people that's worked hard and are lucky enough to even be able to think about getting into something like this. I am listening to the live seminar now as we speak... and he's talking about FOOD! My husband is not here right now, but I am most certainly going to try to convince him NOT to invest any money with this operation. I feel just sick.

 

[ProphetMax Member]

Have your husband read this thread from beginning to end. It has saved me from putting more money in than I have already done.

 

[SonicSunburst]

... I am listening to the live seminar now as we speak... and he's talking about FOOD! My husband is not here right now, but I am most certainly going to try to convince him NOT to invest any money with this operation. I feel just sick.

IIC are a marketing outfit, nothing more. They take an angle, work it into a convincing story, and then play the numbers game. They aren't licensed to provide Investment advice or deal in financial products.

And then there's all the secrecy surrounding brokers and sending money off shore. This isn't how to invest or trade. You want disclosure, transparency, and straight forward answers.

 

[Lightning McQueen]

not good news!!

fingers crossed its a glitch or something of a reporting error, else it pains regulars of this forum to see you all scammed like this

please keep the info coming through so at least google will pick it up so others can learn and not be "had" by such schemes in the future.

 

[Broketurtle]

I believe Senen's next webinar is tonight (US) - tomorrow morning (Australia).

Can someone please raise the AFSL issue with him? (I will be stuck in meetings all morning but will be recording).

Thank you.

Why on earth are you asking him about his licence? Do you think anyone operating illegally is going to tell you? He's going to tell you what you want to hear. Go and ask ASIC yourself.

 

[Broketurtle]

I've been a member of ProphetMax for two months now.

Please allow me to publicly announce that I am 100% SATISFIED with Senen and his company.
:clap:

I intent to add more captial to my account very soon.

If anyone has productive comments\questions, I will address them.

Are you 38% satisfied now? I hope nobody else lost money based on your recommendation.

 

[Broketurtle]

. .

Senen stated in the webinar that the broker is in the US. Perhaps a deal he put together last week.

So you didnt know who the broker was or what country they were in when you sent your money. You clearly have no contact with them now otherwise you'd be able to look at your account and see how much you've lost. Do you realise how outstandingly stupid you have been? All this because some guy on the Internet told you you'd make 100% a year. What you did is like giving money to Nigerian e mail scammers.

 

[ProphetMax Member]

Are you 38% satisfied now? I hope nobody else lost money based on your recommendation.

Me too.

 

[ProphetMax Member]

So you didnt know who the broker was or what country they were in when you sent your money.

No. The broker account that the money was wired to in Europe was register in NZ. But yesterday, Senen said the broker was in US. I haven't heard the complete webinar yet. The parts that I have heard, Senen avoids giving direct answers.

. . . .What you did is like giving money to Nigerian e mail scammers.

Point taken.

 

[ProphetMax Member]

Well, I now know where the broker is located . . .

Received this mass email this morning:

Due to the trading activity over the last couple days, my Managed FX Support staff and I have received many e-mails and phone calls. It’s not possible to get to everyone in a timely manner, so this update will outline the couple most important things to know right now.

Trading has been stopped by the traders on Managed FX accounts for at least a week. If wanting to withdraw all or a portion of your funds, please send an e-mail to [email protected] and put ‘Withdraw’ in the subject line. The Withdrawal form will be sent back to you within approx. 48 hrs. Please fill it out, sign, date, and send back to the e-mail address above that you received it from with the words 'Completed Withdrawal Form' in the subject line. We will get it to IB Capital, and they will begin processing your return wire.

For ‘What happened with the trading?’ questions, (and a whole lot more) a recording of Senen’s Thursday gathering will be uploaded to the ProphetMax website asap. He mentioned on the gathering that this would be a priority. In it, he shares all that he knows now, and will continue to share more as he learns more and speaks with the traders later tonight.

When accounts begin trading again, if you have a current funded account, you will not need to wire any more funds for your account to trade even if it’s below the minimum. When due to a loss, the traders continue to trade your account regardless. All new accounts as well as accounts funded for the first time will continue to need to fund with the minimum.

-Joel Friant
Managed FX Support


This message was sent to [email protected] from:
Joel Friant | 1313 E. Maple Street
Suite 201 | Bellingham, WA 98225

 

[klemen86]

So you didnt know who the broker was or what country they were in when you sent your money. You clearly have no contact with them now otherwise you'd be able to look at your account and see how much you've lost. Do you realise how outstandingly stupid you have been? All this because some guy on the Internet told you you'd make 100% a year. What you did is like giving money to Nigerian e mail scammers.

We have the broker contact but the broker is not trading the funds the trading group does wich is not conected to the broker at least i hope so.....

This kind of investements are risky and we all know that and that is why reward is also high but i really want to know why trades did increase positions so hard on this day , members beeing told that the account was up 200% by some point when positions were sitl opened. I dont know if this was set up from Senen , Broker and Trading Group or this was a HUGE mistake in risk managment done by traders???? Loss of 62% in a day is just not exceptable in this buissiness and i dont belive anyone will put hard earn money in to that peoples hands...

I am lucky that i didnt yet funded my account!!! I am sory for all that lost money so fast and this is a leeson for us all. IN RISKY INVESTEMNTS PUT ONLY MONEY WICH YOU ARE REALLY PREPARED TO LOSS !!!

Lest wait for the explenation from Senen what actiually went wrong.

 

[ProphetMax Member]

Regardless of what Senen's explanation is, he is not returning the money.

 

[klemen86]

Regardless of what Senen's explanation is, he is not returning the money.

Did you expect that he will return you money if smthing like this happened?

Regards

 

[ProphetMax Member]

No. He has framed the scheme as a mental exercise. You give him all your money and then you are suppose to act like it doesn't matter. He calls it Zero-Point Consciousness.

 

[ProphetMax Member]

Yeah, I got swindled. But people get swindled everyday. Today there is a whole new generation of neophyte investors ready to throw their money away on Facebook stock.