Seems like I'm also a victim of lionfund and knight capital brokerage. My funds were ok making a profit of 2k since February. However, after hearing some bad reviews about Lion fund, I emailed knightcapitalmarket.com requiring them to cease lionfund from managing my funds. They immediately mentioned it's no their call and wanted me to contact them which I complied. After writing a email to them, I noticed my trades went erratic. Normal trades were traded at a lot size 0.3 to 0 5 but they were constantly traded at 3.5 on wrong trades and as expected my account got blown. All these happened within the last 3 days incuding weekend. When I called and emailed, this was the email that I got with jargon and sophisticated email from the **** of a manager called Alex.l, so to say that my account is depleted. The email is as follows.
Hello,
I hope you've been well since our last correspondence. That being said, and when considering the current issue at hand, it will be necessary to recognize, acknowledge, and understand the fact that we are participating within the most risk-abundant, highly volatile financial market in existence during a time in which we are currently enduring a global economic Depression and underlying climate of unprecedented nature on a worldwide scale since the Great Depression.
As such, we have recently experienced inevitably difficult market conditions, based on unprecedented changes for the first time since 2008. This has transpired on a magnified scale, which has catalyzed unfavorable results uncharacteristic of the achievements the Lion Fund Trade Managers contracted to oversee the program, as well as all global asset managers, have experienced within a customary economic climate during ideal market conditions. Within such an atypical world environment, unorthodox losses oftentimes result in ultra-aggressive, overly speculative novelty programs such as Lion Fund.
This unfortunate development has combined with your account having experienced severely inopportune market-entry timing in proximity to the initiation of this recent unfavorable markFet state.
On that note, I find it very important I address your important concern in comprehensive fashion. The Lion Fund Manager was utilizing a very sophisticated, methodical employment of within client accounts so as to effectively mitigate what otherwise would have been an instantly catastrophic, adverse price movement across all major currency pairs.
Of course, it is a physical impossibility to successfully accomplish negative trade eradication without the necessary periodic release of said positions in strategic fashion at prospective turning points in price action so as to allow corrective price moves to neutralize open draw down while being offset by realized profits generated through the aforementioned orders. When positions are released, it is necessary to allow price movement to "breath" and illustrate directional bias.
Furthermore, pending orders must be strategically placed at selective points far enough in proximity to important support or resistance levels to ensure any re-entry into the is not made in vain. Therefore, equity will bleed in nominal, successive amounts until the proper, successful corrective point is reached. Under typical market conditions, the average trend-based price movement which would necessitate the employment lasts but 1-3 days and requires no greater than 1-3 releases prior to successfully identifying the correct turning point necessary to remove clients from trades intact.
We continue to face a global economic climate of unparalleled proportions since the Great Depression and have chosen to participate within the most volatile, risk prevalent market out of all the financials. As such, and when combined with notoriously thin, unfavorable summer market conditions and a unique disconnect of customary inter market behavioral correlation losses uncharacteristic of standard performance within ideal conditions do occur.
Although it will be no consolation to your frustration, it is of paramount importance you understand that we have endured, as a world society and global investors, a first-time global market climate and world economic condition absolutely unmatched in decades. This marks a unique juncture in this Manager’s 3 year record flawless aggressive trading.
Based upon our longstanding, personalized communication with one another, I'm confident you will recognize the fact that I am sincerely regretful of having had clients, including yourself, eliminated from market participation. Your ongoing recognition and understanding of current conditions as well as the unwavering state of my dedication with the sincere best interest of clients at heart is both valued and appreciated.
For these reasons, I must reiterate that I am genuinely apologetic in having to inform you that the entirety of your risk capital was depleted by the Lion Fund Manager.
Should you have any additional questions or concerns regarding these very unfortunate market events, please be sure to follow up with me. I will remain readily available and sincerely dedicated to assuring your inquiries are immediately and thoroughly answered.
Sincerely,
Alex
Wonder what should I do next? Anything I should do. Any advice?
