Since I joined Forex Confidential none of my P/L reports matched the ones posted in ForexConfidential home page.
(Forex Confidential - Forex Training - Forex Signals - Managed Forex Accounts)
All my questions were answered by explaining that it was my fault in either not understanding the report or some other reason.
I have joined trade-assist and as of 26th Jan 2009 the trade-assit operated and it should be noted that it was operating without any sort of intervention by me.
At the end of February 2009 my account was down 7% and if I count and add the fees for the set-up of the trade-assist and the monthly fees the account was down close to 10% (It is now down close to -20%).
Having the account losing is part of trading - absolutely no doubt about it.
I have never complained regarding the loss of funds.
I have waited until the 17th March 2009 – when the P/L results for Feb 2009 were posted at ForexConfidential home page
It seems to me publishing the results should not take that long – but I was patient.
The posted P/L result published was a -1.9% (minus 1.9%)
My account for the equivalent period was down close to -7% (minus 7%)
I have made endless inquiries about the discrepancy – all mails will be attached for your view.
All the inquiries were promptly replied to – denying any form of responsibility and stating me as the one responsible for the discrepancies – along with the broker (IBFX).
Later on a report (excel worksheet) was submitted to me pointing to the differences in the trades – assuming I have closed one trade and closed it too early (which I have not) and assuming another trade was not handled right due to limitations by the broker (I never really understood the point FC were trying to make since they admit many of their clients use the same broker – IBFX – but the problem occurred – so it seems – in my account alone). It should be made clear: I have not touched the account - I was looking into the operation of the trade assist. Not touched any of the trades - never.
The report submitted by FC has – to the best of my knowledge - no matching points with the trades carried out in my account. None.
The trade-assist venue is supposedly doing the same trades for all customers and the variations would be only in the size of the trades and the risk ratio granted by the client. No veriation in amount of pips should appear.
Therefore I fail to understand the totally different report that FC generated considering Feb 2009 as compared to my report.
When I have denied my responsibility for the discrepancies I was unilaterally cut off the service for "violating the agreement". I fail to understand this due to the fact I have only made inquiries and I am not aware that doing so can violate an agreement. When asking for refunds I was told I would not be able to have the fees refunded ($97 for "set-up" and 3 X $197 for monthly fees and some more fees)
Attached are the mails that were exchanged.
As I do not consider myself an expert in accounting or statistics or trading - I urge you to please go over the issue and see if I should be the one to be blamed for the discrepancies between my P/L results for Feb 2009 and the published results of P/L of ForexConfidential. Also please check if there was any violation of any agreement on my part.
If there is no discrepancy then I should be begging pardon from ForexConfidential – and will certainly do so.
If there is a discrepancy – that was so emphatically denied - then one may assume that the published results of past performance – for the years of operation, not just for Feb 2009 - were not published along principals of integrity and good faith.
I'll be glad to send any inormation that is needed to review the case.
Thnx very much
Zaki
(Forex Confidential - Forex Training - Forex Signals - Managed Forex Accounts)
All my questions were answered by explaining that it was my fault in either not understanding the report or some other reason.
I have joined trade-assist and as of 26th Jan 2009 the trade-assit operated and it should be noted that it was operating without any sort of intervention by me.
At the end of February 2009 my account was down 7% and if I count and add the fees for the set-up of the trade-assist and the monthly fees the account was down close to 10% (It is now down close to -20%).
Having the account losing is part of trading - absolutely no doubt about it.
I have never complained regarding the loss of funds.
I have waited until the 17th March 2009 – when the P/L results for Feb 2009 were posted at ForexConfidential home page
It seems to me publishing the results should not take that long – but I was patient.
The posted P/L result published was a -1.9% (minus 1.9%)
My account for the equivalent period was down close to -7% (minus 7%)
I have made endless inquiries about the discrepancy – all mails will be attached for your view.
All the inquiries were promptly replied to – denying any form of responsibility and stating me as the one responsible for the discrepancies – along with the broker (IBFX).
Later on a report (excel worksheet) was submitted to me pointing to the differences in the trades – assuming I have closed one trade and closed it too early (which I have not) and assuming another trade was not handled right due to limitations by the broker (I never really understood the point FC were trying to make since they admit many of their clients use the same broker – IBFX – but the problem occurred – so it seems – in my account alone). It should be made clear: I have not touched the account - I was looking into the operation of the trade assist. Not touched any of the trades - never.
The report submitted by FC has – to the best of my knowledge - no matching points with the trades carried out in my account. None.
The trade-assist venue is supposedly doing the same trades for all customers and the variations would be only in the size of the trades and the risk ratio granted by the client. No veriation in amount of pips should appear.
Therefore I fail to understand the totally different report that FC generated considering Feb 2009 as compared to my report.
When I have denied my responsibility for the discrepancies I was unilaterally cut off the service for "violating the agreement". I fail to understand this due to the fact I have only made inquiries and I am not aware that doing so can violate an agreement. When asking for refunds I was told I would not be able to have the fees refunded ($97 for "set-up" and 3 X $197 for monthly fees and some more fees)
Attached are the mails that were exchanged.
As I do not consider myself an expert in accounting or statistics or trading - I urge you to please go over the issue and see if I should be the one to be blamed for the discrepancies between my P/L results for Feb 2009 and the published results of P/L of ForexConfidential. Also please check if there was any violation of any agreement on my part.
If there is no discrepancy then I should be begging pardon from ForexConfidential – and will certainly do so.
If there is a discrepancy – that was so emphatically denied - then one may assume that the published results of past performance – for the years of operation, not just for Feb 2009 - were not published along principals of integrity and good faith.
I'll be glad to send any inormation that is needed to review the case.
Thnx very much
Zaki