Lost half of my years salary in a week!

Quote from hcour:


I don't remember the specifics, but there was a thread a couple of yrs ago where members were criticizing some guy and he just went friggin' ballistic. I remember he was English 'cause he was using all kinds of English expressions, he was so upset and angry, every other word was profane, it was like he was having a nervous breakdown right in front of us he was so pissed. It was hilarious. Anybody remember that? Was the thread deleted? Shame if it was, it was a classic.

H
More...
Ya mean the sweet and mellow Mr Gilmore?

Here is some classic POed Vendor Venom: :D

http://www.elitetrader.com/vb/showthread.php?s=&postid=633388#post633388
 
Quote from mparkernys:

==========================================

ah, HALF truths now !!!!!

in only a few days a VAST improvement from scammer, dont you think ?

why in a day or so, we might even have someones say, "gee, maybe he wasnt wrong !"

and a few days after that, "gee, hes a pretty good trader after all !"

LOL -- gotta love it !

mp
More...

Apologies for any confusion.

Just to clarify my thoughts on your" advice". If you are not a scammer then you are the most incompetent trader I have ever had the misfortune of coming across in my 18 years as a full time fx trader.

Hope this helps.


(I will now give a little bit of free advice. It doesnt matter what your strategy or style of trading is you should never blow more than 5% of an account (max 10% in an exceptional circumstance) and certainly never ask for more margin -especially within 7 days.

All currency/indices/futures postions ususally come back into profit but that is irrelevant. Long Term Capital would have eventually made money as would have Nick Lesson - but that rather misses the point, don't you think?
 
Well add up the following

1. A trader, trading someone elses account with no written agreement or POA.

2. The trader does not use a block account, or a pro platform like CX.

3. The trader has the biggest drawdowns I have ever seen

4. The trader has no money management plan. Yes mp that is what I said. 10k wayyyy overleveraged, 10 k should only trade minis, or in a block account mini percentages.

5 A young kid who trusts authority or perceived authority

6 Trading on fxdd

Add this up and it is a recipe for a blown up account.

The Ever Feeling Empathy For Anyone Who Has Lost Money This Way VIPER

I will see y'all over on ES's poop board
 
Quote from Lon Eagle:

[.

All currency/indices/futures postions ususally come back into profit but that is irrelevant. Long Term Capital would have eventually made money as would have Nick Lesson - but that rather misses the point, don't you think? [/B]
More...
=======================================

nope, doesnt miss the point at all -- IT IS EXACTLY THE POINT --- the original trades were not taken as short term but rather long term, from the very get go !

the OP CLOSED HIS OWN ACCOUNT, on a currency that was back in 2 days with no need of additional margin (which i did want to protect him, "in case"), completely destroying his chances !

what you keep failing to allow register, is the second transaction that was closed contained an error of some sort still left open to understanding -- with 200 % margin a position was closed and FXDD claims that the order came from my computer, which also had another computer (the OP) observing --- before the account was closed, the techs were earnestly trying to find out what had happened and their supervisor was waiting to put back the trade, depending on the outcome of their analysis.

It never took place, because the account was closed !

You may talk about drawdowns, you may talk about what sizes to trade and you can talk till the cows come home, but presently those same trades are doing just fine, thank you, for a number of other people, and THAT is all I need to ever know.

everyone has an opinion, and the number of times that i have been disagreed with is beyond memory ---- BUT, rare am i wrong without outside interference, and my reputation, over years, is built and respected because of it !

slow down a bit, examine that "something" aside from what you wish to blame went wrong (and im sure FXDD is a large part of it), stop looking at this from only one side and give it a FAIR examination as opposed to seeking evidence to support YOUR side of the analysis and remember, if i had been posting on this board for 5 years, you all would have been in shock that something like this could have happened, as are the members of the board where i reside !

say what you will, but from the first post on, this board has wanted blood --- it has never wavered from that outlook, and that is VERY unfair --- its called prejudicial behavior and doesnt sit well with what should be an intelligent community !
 
Answer one question that so far you have consisentently refused to answer.

You keep saying you manage other peoples money.

Are you regulated and authorised to carry out that activity? If so where and by whom?
 
Quote from mparkernys:

=======================================

nope, doesnt miss the point at all -- IT IS EXACTLY THE POINT --- the original trades were not taken as short term but rather long term, from the very get go !

the OP CLOSED HIS OWN ACCOUNT, on a currency that was back in 2 days with no need of additional margin (which i did want to protect him, "in case"), completely destroying his chances !

what you keep failing to allow register, is the second transaction that was closed contained an error of some sort still left open to understanding -- with 200 % margin a position was closed and FXDD claims that the order came from my computer, which also had another computer (the OP) observing --- before the account was closed, the techs were earnestly trying to find out what had happened and their supervisor was waiting to put back the trade, depending on the outcome of their analysis.

It never took place, because the account was closed !

You may talk about drawdowns, you may talk about what sizes to trade and you can talk till the cows come home, but presently those same trades are doing just fine, thank you, for a number of other people, and THAT is all I need to ever know.

everyone has an opinion, and the number of times that i have been disagreed with is beyond memory ---- BUT, rare am i wrong without outside interference, and my reputation, over years, is built and respected because of it !

slow down a bit, examine that "something" aside from what you wish to blame went wrong (and im sure FXDD is a large part of it), stop looking at this from only one side and give it a FAIR examination as opposed to seeking evidence to support YOUR side of the analysis and remember, if i had been posting on this board for 5 years, you all would have been in shock that something like this could have happened, as are the members of the board where i reside !

say what you will, but from the first post on, this board has wanted blood --- it has never wavered from that outlook, and that is VERY unfair --- its called prejudicial behavior and doesnt sit well with what should be an intelligent community !
More...

Are you hammered? Do you not see your own trades?
trading 4 lots on a 10K account is INSANE!
Especially when the trades never even took place according to the log.

You have a reputation? Where? I don't see that you are quick to give out your real name, or your firm. You hide behind a veil of lies and sidestep the real issue.
You are a classic bucketshop scam artist.

Ever hear the story of the unscrupulous broker??
He calls 100 people and tells half of them to buy gold, and the other half he tells to sell gold.
1 month later, 50% of them have made money, and the rest have lost. He calls the 50 people who won and tells half of them to buy soybeans, and tells the other half to sell soybeans.
Soybeans crash, and now 25 people see him as 2 for 2.
He then calls 13 of the remaining 25 and tells them to buy the yen, and the other 12 he tells to sell the yen.
The yen crashes and now he has 12 people in AWE of him and his astounding trading acumen.
They are willing to commit all capital and then some to his new trade....
and then KABOOOOM.....

That's you Mike.

It's one thing to be a bad trader, and I understand that every client has their own track record. But to defend your style as anything other than broken clock trading is a sham.
 
Quote from PohPoh:

Are you hammered? Do you not see your own trades?
trading 4 lots on a 10K account is INSANE!
Especially when the trades never even took place according to the log.

You have a reputation? Where? I don't see that you are quick to give out your real name, or your firm. You hide behind a veil of lies and sidestep the real issue.
You are a classic bucketshop scam artist.

Ever hear the story of the unscrupulous broker??
He calls 100 people and tells half of them to buy gold, and the other half he tells to sell gold.
1 month later, 50% of them have made money, and the rest have lost. He calls the 50 people who won and tells half of them to buy soybeans, and tells the other half to sell soybeans.
Soybeans crash, and now 25 people see him as 2 for 2.
He then calls 13 of the remaining 25 and tells them to buy the yen, and the other 12 he tells to sell the yen.
The yen crashes and now he has 12 people in AWE of him and his astounding trading acumen.
They are willing to commit all capital and then some to his new trade....
and then KABOOOOM...................
====================================

u know. if i lived in that world I would love the above idea -- sounds like the penny stock world !

but you have come to one of the mainstays of the problem i have spoken about ---- you cannot find the trades on the log !

and I will bet you will not find a lot of what happened on the log either !

let us take a look at what 4 lots of UADUSP might cost a week ago -- in the area of $2800 -- and that is too much for a 10K account ?

I still maintain, and always will, that a serious problem existed with FXDD, not ever resolved as proven by your not even being able to find the transactions !

YOU PEOPLE ARE SO BUSY JUMPING ON MY HEAD, THAT YOU DONT NOTICE THE GUY NEXT TO YOU, LAUGHING HIS HEAD OFF -- the one wearing the badge that says FXDD trade desk !
More...
 
you people have gone in every direction with this, but have continuously missed the point.

HOW did a man, with years of trading experience for himself and others, manage to lose this amount of money (not all btw, because the OP closed the account at a loss)

Now my record is available, going back for years, on the site i live at --- I must have learned something in all those years !

nowhere has anyone wondered this --- thought this was strange, and paused to try to reason it out. No, this is a stranger and we beat strangers who do not do things the way we do, especially if we havent all the facts --- after all, if its good enough for the KKK and skinheads, then let us do it also !

you say you cant find the trades youve been yelling about -- SO WHERE ARE THEY ? WHY, when in no danger of excess margin percentage, were trades closed ?

WHAT WAS FXDD doing during this time ?

youve already pointed out that the trades that lowered the OP's account DO NOT EXIST -- SO HOW IN HADES DID THIS HAPPEN ?

ask some valuable questions -- understand that $2800 with 7200 remaining puts no account in danger and tell me what happened truthfully, without just trying to hang me from the nearest pole !

ITS EASIER TO JUST STAB ME, BECAUSE THE TRUTH IS TOO HARD FOR YOU TO FIGURE !
 
Absolutely...

Especially when you freaked and started those hedge trades IN addition to the core....You just had too much on...You knew you were in trouble and were in damage control mode...Don't you think we have been there? We are all experienced in this thread...

Mike...look I have managed over a million dollars (which is not very much in the institutional currency market) all completly in Forex. Believe me when I tell you that 4 lots was way to much...for 10 or 12k and your investor should have pulled his money at 15% DD. Accredited investors accept a max of 15%... thats it and you should know that. Usually a sophisticated arrangment defines this and your LPOA is cancelled and the investors pulls the rug out from under you. This can all be done by Fax.

FXDD or the Client did not execute any trades on your behalf and you know it, unless there was a margin call...Almost all the boards have bad reports about one dealer or another...

in the area of $2800 -- and that is too much for a 10K account ?
 
You must log in or register to reply here.
Back
Top