Lost half of my years salary in a week!

Generally Americans think they are protected, but in reality the matter such as this, is supervised by the CFTC. But Americans will read the "letter of the law" but do not know how to apply it and if it is acted upon, thus you get bad advice in these Forums...

our thread author needs good advice...and so far the kid has nailed it and getting anything from this would be a gift...so he has called it right and should move on...I could not agree with him more...actually our thread author took a chance and lost and he seems intelligent enough to me to realise it.

My advice is to forget about it and make some more money...sorry this is the way it is...deal with it! This is not a call to passivness...its just that I have learned to not fret or waste my time in situations that I do not have any control over.

Michael B.


Quote from Lon Eagle:

No wonder the Uk is the centre of the FX Universe!

Although foreign exchange is not a regulated activity the business of margined foreign exchange is deemed to be an investment activity and hence anyone trading on behalf of someone has to be authorised by the FSA.

Nice to see the US has it priorties right - bans internet gambling but allows any idiot to fleece someone out of their life savings because they promise to make them millions!.
More...
 
Take a some smooth talking saleman who persuaded two old ladies to give him their life savings to trade with.

He then tells each one that he will charge them say 25% of profits as his fee. He leverages both up to the max, one long one short. One old lady loses all her money ,the other makes the profit and so the 'trader' makes 25%.

This is perfectly legal in the States and there is no recourse against the trader? Madness.
 
too much of this gets complaints to the congressman...thus the PDT rule took place in equities...chew on that history...there is a method to the madness...


Quote from Lon Eagle:

Take a some smooth talking saleman who persuaded two old ladies to give him their life savings to trade with.

He then tells each one that he will charge them say 25% of profits as his fee. He leverages both up to the max, one long one short. One old lady loses all her money ,the other makes the profit and so the 'trader' makes 25%.

This is perfectly legal in the States and there is no recourse against the trader? Madness.
More...
 
now...back to my question....

why is there 11600 views to this thread in 2 days...where I show guests how to really, really lose money in my threads that no where get the volume that this thread brings?????????...

what we read....human nature is a marvel to me....there are so many things in the Bible that just nails us...
 
ES, glad you came in the thread. You're levelheadedness and ability to see things for what they really are is always appreciated.

And you are right on the money as far as the legal/regulatory position of this matter is.
 
red babbbyy red...looking for red....(and those of you that don't admit it are liars! you blood-looking nasty humans)


Quote from Bearbelly:

Why does everybody slow down at a car wreck?
More...
 
Quote from Lon Eagle:

Take a some smooth talking saleman who persuaded two old ladies to give him their life savings to trade with.

He then tells each one that he will charge them say 25% of profits as his fee. He leverages both up to the max, one long one short. One old lady loses all her money ,the other makes the profit and so the 'trader' makes 25%.

This is perfectly legal in the States and there is no recourse against the trader? Madness.
More...

The trader doesn't make 25%. He makes $XXX from $0.00.
 
alot of hits probably because people are somewhat interested in what happened and whats going on ...

The title was intentially depicted for a preview of lots of drama in the message.

Weather or not people find it interesting is another story.

Personally ... I wouldnt ever give my money to some schmo off a message board to trade with ...
But maybe if I did I would have better returns then I have now :)

I do hope the guy goes down thou; I dont like sleezy con-artists
 
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