In November of last year I inquired to Horilique about his management services that he posted within his Market Shark thread. He began trading in November and finished November very well. In December of 2014, he managed to blow out my $5k account which I knew was running an EA that he claimed was very conservative and stopped at a 4% drawdown. The EA never stopped trading and instead he rapidly increased the risks until the account was gone.
He made several statements to me saying that he would trade it back through my other account which was funded with $20,000.00. That account was doing well until he began taking unnecessary risks on the Eur/Usd pair selling it without a SL multiple times at high lot sizes. It nearly margined the account out and left only a few thousand dollars remaining. I immediately stopped his access to my account. These accounts were also traded without an LPOA in place.
In the beginning of the year I contacted FPA regarding his trading practices by email. Through email conversation between FPA, myself and Horlique we were able to address the concerns with the risky trading and I funded a $5,000.00 account for him to trade without an EA very conservative. The deal was that he was going to trade the account for free until all of the money he lost was made back. Needless to say that Horlique applied yet another EA to the account which saw small gains but extremely large losses which wiped out about half of the account overnight. The deal that was even outlined in the LPOA is that the account was not supposed to be traded with an EA and that the drawdown was supposed to be very limited to 10%. I woke up one morning to less than $1,000.00 in my account. This account was in fact traded with an EA when it was supposed to be manually traded. He was also instructed NOT to use an EA on my larger account which he did anyway and resulted in the account being blown out. The broker confirmed that all of the trading on the new account were initiated by an EA.
In the process of emailing back and forth with FPA involved, Horlique stated many things which contradicted the reasons he gave me for the accounts being blown out. It showed me that he was not as honest as I thought. Everything I had saved in my skype conversation and relayed to FPA by email showed that he intentionally took the positions that margined my accounts. The positions were taken with such high lot sizes because "he saw the opportunity to make us both alot of money". To date, hes the only one thats made any money since he was paid at the end of November of 2014 by bank wire.
Looking at his trade recommendations and watching him trade previously, I knew he was a skilled trader which is why I made the decision to give him 1 final chance. The chance I normally would not take. Now I know this person cannot be trusted managing money. After his EA had once again took a chunk out of this account, he skyped me and told me he would gain it back and that he knew his reputation was on the line.
After the resolution to regain my capital with the help of FPA, Horlique was told via email that if he did not follow the rules this time he would risk his Market Shark status and I would be able to open a case against him. I will be posting the account data in here shortly.
Needless to say, I will be recouping with my own trading. I always like some diversity when investing but in this case, I learned my lesson well. Horilique Gold should not be allowed to manage peoples money since he cannot even follow rules. Not even his own! I usually do not hold any trader responsible for logical losses. DO NOT TRUST THIS PERSON WITH YOUR ACCOUNT!
He made several statements to me saying that he would trade it back through my other account which was funded with $20,000.00. That account was doing well until he began taking unnecessary risks on the Eur/Usd pair selling it without a SL multiple times at high lot sizes. It nearly margined the account out and left only a few thousand dollars remaining. I immediately stopped his access to my account. These accounts were also traded without an LPOA in place.
In the beginning of the year I contacted FPA regarding his trading practices by email. Through email conversation between FPA, myself and Horlique we were able to address the concerns with the risky trading and I funded a $5,000.00 account for him to trade without an EA very conservative. The deal was that he was going to trade the account for free until all of the money he lost was made back. Needless to say that Horlique applied yet another EA to the account which saw small gains but extremely large losses which wiped out about half of the account overnight. The deal that was even outlined in the LPOA is that the account was not supposed to be traded with an EA and that the drawdown was supposed to be very limited to 10%. I woke up one morning to less than $1,000.00 in my account. This account was in fact traded with an EA when it was supposed to be manually traded. He was also instructed NOT to use an EA on my larger account which he did anyway and resulted in the account being blown out. The broker confirmed that all of the trading on the new account were initiated by an EA.
In the process of emailing back and forth with FPA involved, Horlique stated many things which contradicted the reasons he gave me for the accounts being blown out. It showed me that he was not as honest as I thought. Everything I had saved in my skype conversation and relayed to FPA by email showed that he intentionally took the positions that margined my accounts. The positions were taken with such high lot sizes because "he saw the opportunity to make us both alot of money". To date, hes the only one thats made any money since he was paid at the end of November of 2014 by bank wire.
Looking at his trade recommendations and watching him trade previously, I knew he was a skilled trader which is why I made the decision to give him 1 final chance. The chance I normally would not take. Now I know this person cannot be trusted managing money. After his EA had once again took a chunk out of this account, he skyped me and told me he would gain it back and that he knew his reputation was on the line.
After the resolution to regain my capital with the help of FPA, Horlique was told via email that if he did not follow the rules this time he would risk his Market Shark status and I would be able to open a case against him. I will be posting the account data in here shortly.
Needless to say, I will be recouping with my own trading. I always like some diversity when investing but in this case, I learned my lesson well. Horilique Gold should not be allowed to manage peoples money since he cannot even follow rules. Not even his own! I usually do not hold any trader responsible for logical losses. DO NOT TRUST THIS PERSON WITH YOUR ACCOUNT!
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