ForexSysytemResearch.com Review
ForexSysytemResearch.com
Hi Everyone,
Just thought I would make a post to let you all know about my experience so far with ForexSysytemResearch.com and Michael Dion.
First of all let me give you a bit of background information on my experience with forex trading and managed accounts.
In 2005 I started with a managed account with a company I had read about online called FXIG (Forex Investment Group) It was attracting good reviews, promising 20% returns and some associates of mine had funds in there so I took the plunge. The thing was this was all done with e-gold (a form of online currency) and the only tracking I had was a simple login on their website where I could monitor the balance. Being the naive investor in this exciting new world of forex i did no due diligence and was very, very lucky to pull my funds out before the whole company stopped paying out to its members. That was over 2 years ago and people are still waiting.
I then put my funds into a real managed account with a company called NSFG or North Sea Forex Group. The owners were very transparent and I was able to speak with them at any time on the phone or on Skype. The funds were to be placed in a reputable brokerage firm bgcpartners.com in the UK. I had online and phone access to the account and could see the account being traded live. The returns were steady and realistic 10-15% a month....we also had negative months but overall I was happy with them. It was then I put more and more funds in as it was all going very well. What i did not consider however was that this account was being traded by a human and humans make mistakes and can get far too emotional when dealing with large sums of money. After 12 months of great returns the unthinkable happened. Our trader took a gamble....he went against his usual set of rules in the hope of a massive financial gain.
31st August 2007 which I like to refer to as "Doomsday" his massive open positions moved against him and I subsequently lost 75% of my money. It was devastating; a company that I trusted and recommended highly to others could be so negligent with my funds to take such a huge risk. The trader and money managers told us it was their fault, claimed they were all leaving the business and I was then left to withdraw what was left of my prized nest egg.
From then on I decided I would never let another person trade my money again. I lost all confidence in the so called money managers and forex experts.
In October 2007 I was talking with a long time associate Michael Dion whom I had known for about 5 years, we worked together in the internet marketing industry in the past and I remembered that he was involved in the forex market as an educator and broker. I then told him my story about my experience with managed accounts and he told me that he was currently testing and reviewing a managed account that trades via a computer system that is programmed to stick to a strict set of rules. I was allowed to view all the back data and saw that it had been performing quite well, I was most impressed by the fact that it was a computer doing the trading and the risks of large draw downs were impossible as the system simply did not allow it.
I was interested in opening an account however Mike wouldn’t let me until he was sure the system was safe, had been tested for several months and the programming had been completed to a degree where he and its designer were happy and confident to trade other peoples funds. This only increased my confidence into what these guys were doing and I would have never gotten involved again if it wasn’t for the fact that I had viewed their live account statements for months and were told to hold off even when I was ready to go. For the rest of 2007 and early 2008 he gave me constant email updates from the programmer and access to live trading statements so I could monitor the progress of the system and see how it was functioning.
I finally was given the go ahead and I opened an account on February 1st 2008 with $10,000 USD. The company holding the money is forex.com and gaincapital.com is where I am able to login and view the trading and account balances. The signup process was relatively simple and Mike and the team at Gain Capital held my hand the entire way so things would run smoothly. I was able to login at anytime and see what was happening. Some days the account wouldn’t trade, I found out this all depended on whether the market conditions met the right filters for the computer system to trade on that particular day. We would often have several days of no activity, something I wasn’t used to whereas at NSFG the human trader would be trading all day everyday making wins and losses all over the place....almost like gambling. In my first month with Mike and ForexSystemResearch.com I ended with a 12.9% profit, I had monitored the account daily and was very happy to see that only very small amounts of capital were ever risked on any given trade to minimize draw downs, sure we have had some small losses along the way but they always recovered and since opening the account it has never gone below the original 10k.
Since Feb 1st when I started, my account has grown consistently and just reached a new all time high on April 18th 2008. My balance is currently at 19% profits in two and a half months and that’s inclusive of giving them 25% of my profits each month for trading the account. Overall I’m really happy with their level of professionalism and the results so far, I have a lot of faith in the system and the people behind it, very different to anything I have worked with in the past. As mentioned above the fact it is a computer system that sticks to a set of rules and processes before making any trades rather than a human where even the best and most experienced traders who can feel greed and anxiety makes me a lot more confident that this is the right place to be. According to the performance data I have followed since September 2007 the system is up by 40.41% to date.
I just wanted to give my own experience with this system, if anyone wants to view my progress PM me and I will be happy to share my statements with you or you can contact Michael Dion and forexsystemresearch.com directly and view their statements and learn about what they do.
Happy Trading!
Ben
I will try and Update this as much as I can.
- My return for April was 10.7% (After Performance Fees)
- We are currently at 5.8% + for May.
