forex fundraisers looking for trader not a traitor

[Pharaoh]

It is interesting to see that you are at least beginning to test traders before giving them client money. However:

The last 2 traders started on simulation accounts did well for 30 days and then when it came to real money choked. They even had P & L statements going back 12 months.

I see there is still no mention of having the traders actively monitored regarding drawdown and no mention of exact limits for drawdown. What if someone opens an account, and your perfect, tested trader trades fine for 3 months and then goes for a 1 day margin call?

Oh wait - that would be exactly the same as the last 6 or 10 times - the clients lose 95% of their money and you open a shiny new website to push the next trader.


and this:

The pay for the trader is as such. We charge $10 per round turn lot which the trader will receve $3.33. We also charge the clients a 30% performance fee. which the trader will receive 10%.

Performance fees (if based on high water mark) encourage good trading. Pay per trade encourages churning.

So, how much money have you made off those round trip fees while your clients' hard earned cash was being wiped out? Even after ALL those abysmal failures, you still seem to have more than enough money to take your time recruiting new traders.

Thanks for your participation in advance. I am only going to answer to emails at this point because I dont want to have to update all these threads.

So, it's quicker to answer a lot of emails from FPA members than to keep track of one thread here? It's quicker to answer emails from the other forums where you are recruiting than to answer individual threads? This doesn't make sense. You would post this anywhere except places where you hoped to get multiple emails.

Then again, your logic has been lacking since your first post.

There is no website because we are not advertising to anyone. We already ahve the clients. When we do have a trader we will begin advertising again. We will know his name his track record and will write a website including this info.

Hmmmnnn... get a new website after each failure so that your clients never know the long-term history of your company. Probably a whole new company name each time too.

How exactly did you managed to acquire any clients? Consider this:
A) the dismal track record of prior traders - your prior clients got wiped out.
B) the fact that you have no successful trader's track record to show them yet and no website to lure, er, recruit them yet.

So, it looks like you have tapped a huge market of utter gullibility where people throw money at you when you have nothing to show them (other than failure, which you will try to hide by changing the website and company name).

Is your company even registered with the SEC, CFTC, or NFA? Oh wait, let me guess - each new incarnation of this highly profitable (for you) destroyer of accounts is set up somewhere in the Caribbean.

 

[Rat]

Hi Jonathan Roberts,

Could you show detail of what's your conditions and how to join your program?

Thank you.

 

[TheDisease]

This so called trader introduction is actually just a typical IB... he makes pips the more the people manage your money trade. As a trader the incentive is low... so you won't typically get great guys.

His company keeps 20% trader keeps 10%.... so charging 30% to the person with additional comp on pips?

Their traders have to kill it I bet to negotiate something out or they are just happy blowing out accounts to rake in the 10 dollars on a miserably overtraded account.