forex fundraisers looking for trader not a traitor

[Cesil]

The lack of credibility & failure to do any of the things already mentioned in the past suggests this may be a money laundering scheme...

 

[Pharaoh]

They claim to trade via legitimate brokers, so it's probably not money laundering.

They can follow all the the AML laws and still make money with bad traders in several other ways.

1. Require all signups to go through their IB links - then they get a cut of every trade, successful or not. This means the more they trade, the more they make.

2. Account setup fees.

3. Management fees that are a monthly % of the account balance.

4. Inter-account hedging. Place big orders on two accounts. Go long on a pair in one. Go short on the same pair in the other. If price moves, one account gets hurt badly. The other makes a bunch of money and pays a percent of profits to the account management company.

 

[ernest8fingers]

thanks Bro!

Thanks Pharaoh for those kind words-I feel the same. Back to business. I firmly believe in Karma and fate. I prefer not to test either! Could you imagine me trading 10 million dollars? "ernest8fingers gone WILD!-It is so much more gratifying to help than to hurt. I can barley stand to yell at my kids - let alone lose(or steal) peoples futures. I actually believe those people that lost all that money started out with the best of intentions. They just made horrible trading decisions(sounds like they placed panic trades?) Scared money always loses. I will wait for Mr. Roberts reply(not forever though) to all the valid points made by Pharaoh.

 

[ernest8fingers]

Where's Johnny?

Johnny where are u? I think we can all assume you're pure B.S. ! I guess you didnt count on anyone calling you out? I would still like to hear from u though.

 

[Jonathan Roberts]

Looking for a trader not a traitor!

UPDATE: still looking for a trader. Started again 11/1/09. Basically looking for a trader who can average 3%-5% a month with strict money management. The contact information has changed below. If you are interested email or call.


We need someone to trade our funds.

Our company is expert at raising funds for the Forex market.

We have developed the best advertising resources and contacts to bring in money for managed funds.

The problem that we have had is that every trader that we have worked with has ended up losing money for us and our clients.

We raised over 3.5 million for David Nelson (winner of the forex five hundred competition in 2006) traded well a few months and he lost it all in one week!

We raised over 2 million for David Arena (otherwise know as DC Bonta) and he lost it all in several months.

We rasied 350,000 for Mark Sawzin (the highest recommended trader from Gain capital.) he lost nearly every day that the funds were with him.

We raised $75,000 for Lawrence Geeslin and he blew that out in one week.

We let the well published Aden Rusfeldt trade one $40,000 account actually liquidated that in one day!

If you can make money in the Forex market and you want to be part of something bigger than you are now,without ever having to leave your house..contact me.

.

Thanks

Jonathan Roberts

Global Potential Corp

512-701-4717

globalpotentialcorp@gmail.com

 

[PipStar]

............We need someone to trade our funds.

Our company is expert at raising funds for the Forex market.

We have developed the best advertising resources and contacts to bring in money for managed funds.

This has to be a big joke. It cannot be serious.

 

[Ricex]

Ahhh come on Mr Roberts! you can't really expect the poor guy to come up trumps when you've stuck him in the corner of a noisy stock exchange with some very low budget office furniture..... you could probably splash out a bit of cash and get him a new computer at least, he's still got Win98 there..... and stop spying on him with your webcam it'll only make him nervous....

 

[Pharaoh]

Hey there Johnathan,

I am glad to see you at least mentioned risk management this time, but you still haven't dealt with some hard issues.

I think you must have missed my post with some questions for you. I'm sure someone who can raise such larges amounts of money based on investor CONfidence wouldn't ignore pressing issues about how much investor money your company has already flushed down the toilet, right?


I look forward to your answers. To save you from having to go back one page, here's what I wrote again:

It's been over a year since you last visited the FPA. In all that time with all the millions you can expertly raise, you still don't have a company email address and a secretary to filter the spam? Had any more accounts wiped out while you've been gone?

Now I see that your website has been deleted. Can you tell us if there is a new one and where it is?

Let's say Ernest8Fingers shows you 10 months of solid performance. Based on that alone, you'll promote his incredible skills and place millions at his fingertips. Personally, I completely trust Ernest and consider him to be a friend. I would even consider letting him trade a few thousand of my money if he ever went into that business. Even so, I'd want to see a lot more than a 10 month track record to be ready to hand over control of millions of dollars of other people's money to him.

Risking my money based on a personal faith and trust is one thing. Placing other people's money at risk without proper safeguards is immoral, unethical, and very likely illegal.

You are raising money without actually having a real product (a good trader with sound risk management) in place beforehand. Overall, I think there's a severe cart and horse relationship issue here.

You freely admit to being able to raise huge amounts of other people's money and see it get wiped out over and over again. You claim to have the ability to generate more such potential victims at a moment's notice, long before being able to truly verify the ability of a trader.




Your company failed to even bother to hire a low-end clerk to monitor and prevent the destruction of millions of dollars. Only one example you gave was a one-day wipeout. All the rest took at least a week. Your company let this happen over and over again. Do you ever learn, or do you not care, since it's not your money?

Am I the only one here who sees this as a combination of gross incompetence and total fiscal negligence on the part of your company? Do you really just tell the "expert" trader to trade away and only check back if there's a margin call?


If you want to regain the slightest shred of integrity, I have a business plan for you:

1. You will put together an ironclad risk management plan to protect client money from sudden large losses. I've already pointed you to one of my articles that should give you a head start on doing this. If you need more help than that, I am a business consultant and your business really needs to consult with someone. FPA HQ can relay a message to me if you want any further assistance with this.

2. You will buy insurance to cover client losses in the event the terms of the risk management plan are violated. Considering your company's history, this will be very expensive until your company can show a total turn around in handling these issues.

3. You will hire traders who have several years of successful trading history that show very conservative risk management.

4. You will give these traders access to small accounts containing company (not client) money and make sure they can both follow risk management rules as well as show a profit.

5. You will have one or more employees who's full-time job is monitoring the activities of traders to make sure they don't ever violate the risk management rules. You will immediately terminate any trader who breaks risk management rules.

Only when all of the above is in place will you start to seek any more money from clients.

If you disagree with any of this, please explain your logic here for everyone to see. If you agree with it, start doing it now and post here to let everyone know. If you don't reply, that silence will speak volumes about the true intentions of your company.

So, will you address these issues, or are you just planning to harvest some fees from new victims before they get margin called?

 

[Jonathan Roberts]

To answer a few questions

JR_globalp
Member Member Since Jul 2008
17 Posts

Just to answer a few questions?

--------------------------------------------------------------------------------

Well it's quite common to get some skeptics to this ad. It happens every where I post it. Its okay its understandable. So here is a better explanation on how we acquired our customers and why have we in the past had such bad luck with our traders.

We sold 7000 copies of a Instructional CD-Rom named Market Prophet 2000 in January 2000. It was well recieved I still see copies on Ebay every once in a while. We gained many long term clients through these sales. We also released a product by Pristine name Guerilla Trading Tactics and Online Trading Software. We renamed the products so I cant remember the exact name Prisitine used for them. Long Story short between 2000-2003 we sold 18000 Cd-Roms built up a client base. We spent hundreds of Thousands of Dollars with Schaeffer Investment Research, another winning trade and numerous other online Investment periodicals to sell all those copies. I hope that helps everyone understand where we got our clients.

We also have other fund raisers we have met in this industry who raise funds, also that we turn to when we feel we have something good on our hands as far as the trading is concerned.(sorry for the run on sentence Im tired).

In the Beginning we made the mistake of going after so called gurus who have released trading software and or courses. Believing that obviously(wrong) that if you are teaching people to trade you must be profitable. If you look at the list of names of previous traders there are a few Hyped traders with products on the internet we have employed. They sucked the worst. The more products they release on how to trade the faster they lost the money. Which makes sense if they were that great why are they teaching. The old adage is those who cant do ....Teach. Couldnt be more true. Screw them I hope they are reading this.

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 hope that answers some of the questions.

Do to the amount of false starts we have now implemented a process for all traders who want to participate to go through.

1. Provide a P & L statements showing past success.(not mandatory but it helps.
2. Simulate trade for 2 months while we watch. We dont care where you do it. But you do have to provide the username and access codes to us and the time starts when we get those. If you have already been trading this account thats fine. But the 2 months begins when we get the codes.
We prefer Oanda.
3. At that point we will start you off with a live 10k account. which you will trade for 2 months. From that point on it will move very quickly.

This is not a quick process. So if you expect for things to move quickly. This is probably not for you.

Our goal is to build a multi-million dollar fund around a capable unknown talent.

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%.

I AM SORRY I AM UNABLE TO CONTACT ANYONE UNTIL TUESDAY Nov 10. SO IF YOU EMAILED ME I AM NOT IGNORING YOU I JUST HAVENT GOT TO YOU YET. BUT I WILL.

If you want to be proactive you can open up the simulation trading account and send us the username and passcodes. Every Friday email us your results. If you do not email us we are not going log in. Mostly if you do not email us you are probably losing money and dont want us to log in anyway. I will answer all emails. Please be patient with me there are alot of people interested in this positionion.

If you still have credibility issues with us thats fine. Move to another thread and dont waste the key strokes to be negative. Just move on. Pharough this is not at your input is actually the only reason I bothered to write more on this thread. But if you are a trader who thinks you can average 3-5% a month. MAX drawdown is 18%This could be a opportunity of a lifetime.

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.

Thanks
J.R.

P.s. 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.

 

[Ricex]

If you still have credibility issues with us thats fine. Move to another thread and dont waste the key strokes to be negative. Just move on.

No Mr Roberts that is not the way it works on this site, we don't all say amen and move on, if you can't be bothered to answer questions from the very members you solicite then obviously people will doubt your seriousness and credibility, which by the way is already hanging by a string.

PLEASE READ FPA HOMEPAGE:
One way to avoid the "fraud du jour" is not to be fooled by professionally designed web pitch pages. Read the reviews of the forex services left by other traders carefully and share you opinion about companies you used with the ForexPeaceArmy traders community. Together we can separate the good guys from the bad ones!

Well it's quite common to get some skeptics to this ad. It happens every where I post it. Its okay its understandable.

.... what apathy, you feel it's ok that your advert is seen by many as just another forex trash scam ad. Sorry you maybe a genuine company but from where I'm sitting you are projecting a terrible image of your company, and the fact that you seem to just accept this is to me a very unprofessional a way to conduct a business. How you get people to invest with this track record is beyond my imagination.