Lost half of my years salary in a week!

Quote from ddunbar:

Self-righteous? Nah. It's just a differing opinion. We've lost the idea of personal responsibility in this country. The hallmark of this event was the granny who was awarded a fortune for spilling coffee served at a restaurant... on her own lap?!?! With the ridiculous claim that the coffee was served too hot.

:-O

No, you're right, I'm not even remotely affected by this situation. I've never lost money in this manner. I've been cheated out of a few bucks at most. But for the expressions and opinions put forth, I am affected. Why? Well, many members posting in this thread are American citizens. That means they are voters. If a candidate plays or panders to their obtuse view of justice and what is right and fair, this country will just further sink into the litigious hole dug by the adbication of personal responsibility and simple due diligence. Kid lost his money for being... to put it as indelicately and as non-politically correct as I can... a dope. But at least he was honest and didn't ask for anything. But many have made calls on his behalf that he be indemnified of his responsibility and be "made whole." If you want people to be made whole for failings that are easy to avoid, set up no-fault laws and pay higher taxes to fund it. Or you could just have the higher cost of incessant litigation passed onto you in the form of higher fees and higher costs of doing business.

Whatever floats one's boat. OR people could just take the time to read a little more, use common sense, and own up to their screw ups. You know, the old, "what the hell was I thinking?"

On harping, let's see...

Many keep erroneously or at least stretchingly harping about MP being a crook and scam artist. Why can't I harp on something I think is sorely lacking in this thread? Linda keeps attempting to make a case that something criminal happened at every turn. I see how a case can be made on that but not a case worth persuing.

On offended...

Huh? Not sure how you interpreted that I was offended because people on a forum may not agree with me in toto. The thing about forums is that once someone posts something that is contrary to what you subscribe to, it is exceedingly rare that that poster(s) will change their view based on any one posters view. Rarer still if other agree with the contrary view. But those who read the thread without posting don't have as much at stake and tend to take into consideration, the various views and form their own judgements. Sometimes they later post. Sometimes they don't. Sometimes they already have a view or bias based on personal experience which prevents them from seeing another view and thus only concern themselves with posts closest to or which confirm their own views.

I know, all that just to defend my honor. When in the end it won't really matter. But nothing beats the old college try.

:)

Agree on self-responsibility, but calling the OP a dumbass or a F***ing idiot or worse (not saying you're the one who did that) is not necessary. It's true his plight could've been avoided, but what can he do, he made a mistake! And Parker is the jackass who screwed up his account. I'm amazed how many people want to run the OP into the ground for not knowing any better. He's learned a valuable lesson now, but it was an expensive one. Give the kid a break, he's a young man serving the country, saving money, and trying to make more, just got nailed by finding the nasty (Parker) part of this business, which is quite prevalent.
 
Shrug, file the complaint with the CFTC, that's why I posted the information. At the very least Mr. Parker will come under government scrutiny, at the most there may be partial reparations.

Spend your time now learning how to trade, instead of expecting anyone to do it for you.

Regards,

JJ
 
Quote from JimmyJam:


Spend your time now learning how to trade, instead of expecting anyone to do it for you.

Regards,

JJ [/B]

This is an interesting statement. How many billions are now managed by hedge funds.. You believe that thousands of investors in these and other funds should be learning to trade for themselves?
 
Quote from roberk:

This is an interesting statement. How many billions are now managed by hedge funds.. You believe that thousands of investors in these and other funds should be learning to trade for themselves?

Exactly.
 
Quote from roberk:

This is an interesting statement. How many billions are now managed by hedge funds.. You believe that thousands of investors in these and other funds should be learning to trade for themselves?

The majority of hedge fund investors, high net worth individuals andinstitutions alike usually have someone in their employ who can identify whether the fund's risk profile is suited to them.
 
The bottom line which is what Roberk was basically pointing out is that you only trade your own money if you can make more money than if a professional handled your account, AND you have the time to do so,AND it does not take away from your current job. Most professional atheletes have money, but they certainly don't have the time to trade for themselves, and they can make more money doing what they are doing as opposed to learning the markets.
 
Quote from roberk:

This is an interesting statement. How many billions are now managed by hedge funds.. You believe that thousands of investors in these and other funds should be learning to trade for themselves?

You'd better believe it roberk.

100%

I believe 100% if someone wants to be involved in high risk vehicles they should do it themselves. (If they care about their money, that is).

Or, if they're rich (which, of course, is relative), older and have the money to throw-away (or have daddy's and mommy's money to play with), and it wouldn't make one iota of difference if they actually made money with their money or spent it on anything and everything ... well then, by all means their money can be OPM. But it only represents X% amount of their wealth, and it's not critical to their well being or lifestyle in any WAY, SHAPE or FORM.

The OP does not come anywhere close to fitting this profile (he is in fact, just the opposite), and should not have gone near this guy or anyone else for that matter, professing to be able to create riches for him through high risk, purely speculative currency markets (which as we've seen and continue to see everyday, are rife with fraudulent activities).
***
Now, if you want to invest, that's one thing, a good index fund split 50/50 with a medium-term bond fund using dollar cost-averaging has made a lot of money for folks year-in and year-out and continues to do so, but if you want to speculate, be prepared (fiscally and psychologically) to lose it all in your quest riches.

Best Regards,

Jimmy J
 
Quote from sccz97:

The majority of hedge fund investors, high net worth individuals andinstitutions alike usually have someone in their employ who can identify whether the fund's risk profile is suited to them.
Quote from HolyGrail:

The bottom line which is what Roberk was basically pointing out is that you only trade your own money if you can make more money than if a professional handled your account, AND you have the time to do so,AND it does not take away from your current job. Most professional atheletes have money, but they certainly don't have the time to trade for themselves, and they can make more money doing what they are doing as opposed to learning the markets.
Thanks for your support guys.

JJ

edit: I mean it. These are dangerous, shark invested waters, don't go there unless you're ready to (and can) take the potential bad with the good.
 
Quote from acronym:

I thought this as going to be about a tax bill!

Yep, you probably did your dough.

Sounds a bit like that guy who was profiled on forexbastards, but theres a lot of them out there.

I don't understand what all the fuss is about regarding forexbastards ?????? It seems the news trading market is split down the middle on this guy. My question is, how can this Felix guy be a scam if he offers everyone a refund? I'm thinking of signing up for the LIVE calls, are you suggesting I'm going to waste my money?
 
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