Thread: Managed Forex accounts-good results.

Originally Posted by geoman1

Well, they finally blew up. The trader wiped out my IBFX account from $500 all the way down to $20. Talk about poor money management!

That's what happens when the trader refuses to accept the fact that he/she made a mistake. The just keep sitting on the trade thinking, oh it will turn around, tomorrow will be better. All the while, the ship is sinking.

Anyway, I'm done with this one. Think I will stick with trading my account on my own. My 3 - 6% per month might be puney, but at least it is better than what my bank pays or losing everything like these guys did.

Does anyone know what the process is to revoke the Limited Power of Attorney for the trader? That's the one thing I am unsure of, but I want to keep his hands out of the cookie jar, especially once I refund my account for personal use.

~Geo

Wow...what a shock. I had not checked the IBFX account since Friday and could not believe my eyes when I logged in this morning.

I guess even the "professionals" are not immune from panic and emotional responses. In the midst of this drawdown he not only removed his hedge but took the opposite position meaning that he staked everything on the USD weakening. It did not weaken, in fact it strengthened tremendously against pretty much every currency and the account was decimated.

I have no idea why he didn't just stick to his guns, maintain his hedge and wait for the pairs to come back in line. Perhaps he got greedy and thought he saw an opportunity to make the funds back in one swoop, but he deviated from his own trading rules and it proved to be a very costly mistake.

I too am withdrawing my POA for IBFX ( geoman1, I believe you just send a letter of direction to [email protected] with your name and acc't # requesting to withdraw the POA ).

I don't see how Jason could keep the IBFX trader as part of the team trading the Infinity Fund which apparently performed just fine in the test trading during this same period.

From Jason's update, it appears as though they will reduce the minimum deposit or even allow people to see the trades work on a demo account in order to prove themselves to their agents. For me it's now back to square one. I will still test trade the Infinity Fund whenever it's launched and restart my 3 month clock.

Anyone who is able to should log-in, read Jason's note and proceed according to your comfort level.

cheers,

scotty

Hi investor,
It was a good suggestion. But then I am new to this forum.
Please let me continue as I am eager to discuss my forex investments at this forum.

Forex618.net

Originally Posted by scotty

Wow...what a shock. I had not checked the IBFX account since Friday and could not believe my eyes when I logged in this morning.

I guess even the "professionals" are not immune from panic and emotional responses. In the midst of this drawdown he not only removed his hedge but took the opposite position meaning that he staked everything on the USD weakening. It did not weaken, in fact it strengthened tremendously against pretty much every currency and the account was decimated.

I have no idea why he didn't just stick to his guns, maintain his hedge and wait for the pairs to come back in line. Perhaps he got greedy and thought he saw an opportunity to make the funds back in one swoop, but he deviated from his own trading rules and it proved to be a very costly mistake.

I too am withdrawing my POA for IBFX ( geoman1, I believe you just send a letter of direction to [email protected] with your name and acc't # requesting to withdraw the POA ).

I don't see how Jason could keep the IBFX trader as part of the team trading the Infinity Fund which apparently performed just fine in the test trading during this same period.

From Jason's update, it appears as though they will reduce the minimum deposit or even allow people to see the trades work on a demo account in order to prove themselves to their agents. For me it's now back to square one. I will still test trade the Infinity Fund whenever it's launched and restart my 3 month clock.

Anyone who is able to should log-in, read Jason's note and proceed according to your comfort level.

cheers,

scotty

I invested in March. We were told to quickly get our funds in.
From there it tooks months before they even started to trade.
Software problems we were told. You'd think they would have it worked out before they began!!

MB Trading was supposed to be the quick return and then from there you put into IBFX which was the more "long term" account.
So with MB we lost.
We were then advised to transfer across to IBFX as it was going well.
IBFX had the trader who took $15000 and turned it into $140000 in 10 months. (it could have been 12)
Ok - feeling confident now.
Then in one day my account went from around $1400 to $102. The funny thing was the statement showed no closed trades!!
It is currently about $87
Now we are told de****e all this happening the new bees knees is Infinity Trading.
What is it with these people???

sad to hear that. I had my money taken out in time. So no losses.
hmmm. Its now placed partly in iraqi dinar and rest in 10% program

Any reason you decided to take the money out?

I signed up as an Agent about 6 weeks ago and would like know what's happening now.

I have changed my PC and lost some emails so I don't know if I have been contacted or not.

Have the Agents been notified about funding thier accounts yet ?


Any news will help

thanks

Is anyone planning on putting money in the IT account?

Yes Sir....

I plan to test it out....

It will also help with the recovery for us Agents..

Richard

LOL !!!!

Test Posting....

Richard

Hello All

Well I would run from this "program". You can tell this was not very well planned from the beginning. The lack of planning plus bad trading = RUN. I took my money and ran and will not put any more in after I lost over $600.....