Hello, I recently joined this trading challenge, http://guardmarkchallenge.com/ I was wondering if anyone has heard of it or whats your opinion regarding this challenge, is it for real????
Thanks!
Thanks!
MajorMagnuM
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timsk
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Hi nikara6,
If I've understood you correctly, you've stumped up a minimum of U.S. $100 and, having done so, you then thought you'd enquire if it's "for real". Is that correct? If so, the expression 'shutting the stable door after the horse has bolted' springs to mind!
The terms aren't quite so simple as they appear to be at first, so I doubt many traders will win the challenge. However, a few will, but I'd be very surprised if they ever receive a pay out. $100 for $100k is too good to be true. I'm not saying it's a scam, but it certainly looks like one and, IMO, they couldn't have done a better job in making people think that it is one.
Having said all that - I hope you win and I hope they pay you if you do!
Tim.
hahahah I intended to ask this before I opened the account (thats for the "for real") but while I was asking this, I just decided to give it a try. Ill let you know how I´m doing! I did a little more research and there is a company in the UK that is doing the same thing, its called chancerly lane traders so it might be from them?. Only completing the challenge will let me know if its a scam or not, its just 100 usd
What did you attach???
alexaherself
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They appear to have copied most of it (including some of the site design and some of the wording) directly from here, but they've made the already-ridiculous terms even less feasible by increasing the number of trades (with a net PF of over 2.4 and without being able to adjust stop-losses or manage the trades in any other way) from 100 to 125!! 
Please don't anyone imagine for a moment that I'm endorsing or promoting the site I've linked to, here: it belongs to a "company" with absolutely no evidence of a real office, no phone number, apparently no capital, and nothing else that would suggest it could possibly be genuine, and one of the "partners" is the former "head of trading" from Savi Trading - exposed in this thread. Nobody's ever completed their "challenge" successfully (that's by their own admission, by the way). I know some successful hedge-fund traders who are certain they couldn't, and wouldn't dream of trying (I happen to know about this only because one of them sent me a link to the site purely for the amusement value).
Anyway, to me the site mentioned above looks even more likely than that to be a scam. And that's really saying something.
This statement raises epistemological questions I'm not going to go into, other than commenting that it wouldn't be true for me.
I respectfully suggest that there are many charities which would be more deserving recipients of your $100.
Please don't anyone imagine for a moment that I'm endorsing or promoting the site I've linked to, here: it belongs to a "company" with absolutely no evidence of a real office, no phone number, apparently no capital, and nothing else that would suggest it could possibly be genuine, and one of the "partners" is the former "head of trading" from Savi Trading - exposed in this thread. Nobody's ever completed their "challenge" successfully (that's by their own admission, by the way). I know some successful hedge-fund traders who are certain they couldn't, and wouldn't dream of trying (I happen to know about this only because one of them sent me a link to the site purely for the amusement value).
Anyway, to me the site mentioned above looks even more likely than that to be a scam. And that's really saying something.
This statement raises epistemological questions I'm not going to go into, other than commenting that it wouldn't be true for me.
I respectfully suggest that there are many charities which would be more deserving recipients of your $100.
They appear to have copied most of it (including some of the site design and some of the wording) directly from here, but they've made the already-ridiculous terms even less feasible by increasing the number of trades (with a net PF of over 2.4 and without being able to adjust stop-losses or manage the trades in any other way) from 100 to 125!!
Please don't anyone imagine for a moment that I'm endorsing or promoting the site I've linked to, here: it belongs to a "company" with absolutely no evidence of a real office, no phone number, apparently no capital, and nothing else that would suggest it could possibly be genuine, and one of the "partners" is the former "head of trading" from Savi Trading - exposed in this thread. Nobody's ever completed their "challenge" successfully (that's by their own admission, by the way). I know some successful hedge-fund traders who are certain they couldn't, and wouldn't dream of trying (I happen to know about this only because one of them sent me a link to the site purely for the amusement value).
Anyway, to me the site mentioned above looks even more likely than that to be a scam. And that's really saying something.
This statement raises epistemological questions I'm not going to go into, other than commenting that it wouldn't be true for me.
I respectfully suggest that there are many charities which would be more deserving recipients of your $100.
Thanks for the response, Do you think it can be a white label from them??
alexaherself
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A white label scam of an original scam? That would be inventive.
Think about it: have you ever heard of anyone doing a string of 125 successive trades with a net PF of over 2.4, without being able to move stops or manage the trades at all, after they're entered?
I haven't, either. And I don't expect to.
It costs about $50, if that, to copy a website and put it up on free hosting somewhere.
At least try to find out who these people are, and whether they look like they even have $100,000 to pay out?
It's your business how you spend your money, naturally. But try and do it on your own, on a demo account, and give your $100 to Cancer Research (is my suggestion).
timsk
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Seconded.
My other personal favourites, all of which I have a personal connection with and are in no particular order:
MS, British Heart Foundation and Cruse.
Tim.
MajorMagnuM
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A white label scam of an original scam? That would be inventive.
Think about it: have you ever heard of anyone doing a string of 125 successive trades with a net PF of over 2.4, without being able to move stops or manage the trades at all, after they're entered?
I haven't, either. And I don't expect to.
It costs about $50, if that, to copy a website and put it up on free hosting somewhere.
At least try to find out who these people are, and whether they look like they even have $100,000 to pay out?
It's your business how you spend your money, naturally. But try and do it on your own, on a demo account, and give your $100 to Cancer Research (is my suggestion).
i was able to manage stops etc for these tho and manage the trades by adding and taking away. would that be allowed?
Attachments
You don´t have to do 125 trades, you just have to get 69 trades correct, the 55%. I got in touch with a representative and he explained that the entry fee is converted to the 100k using an algorithm that defines that defines margin and lot sizes on the back end, and the only thing I have to do is determine the side the market is going with the 50 pip T/P and 25 S/L, I have 4 trades in already with 3 winning trades using a break on the BB so I do think it is achievable.
Lightning McQueen
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to be fair I believe that could possibly fail by their rules?
minimum win has to be plus 50 pips, with a corresponding 25 pip stop loss. if you indeed have that then well played sir
MajorMagnuM
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to be fair I believe that could possibly fail by their rules?
minimum win has to be plus 50 pips, with a corresponding 25 pip stop loss. if you indeed have that then well played sir
no, unfortunately, min win under 50pips
Do you really need an opinion?
This is the "Latest" business model which may not be outright scam but sure is questionable!
This is the wild west / bucket shop approach of "Prop trading"
Grade "C" type of "Prop trading " firms!
1) Attracts thousand to pay for a smal sum between $100-300 to take some sort of "Test"
2) Set difficult to achieve "Targets" for the test / trial
3) Hope majority fail and repeat
4) Hope very few "pass" and need TRUE funding
+ think this website has no address> no regulatory oversight
Now compare to somebody like
Category B) Bright trading in US or similar ...a properly regulated "Prop firm"
-People can;t join unless they pass a Industry standard Series 7 or 56 exam
- Need own capital
OR TRUE tier 1 prop firm
who
- Don;t ask money from traders
- Recruit them based on strict entry conditions based on education, skills etc
- May pay salary
Above tier 1 = Big Banks and Financial institutes
So wake up and don;t fall for such "Schemes"
