From $300,000 to 10k within one month. Unbelievable. I hope there were more lucky ones like me who were able to get in while the account was still making money and bailed out before it went belly up. It was just a matter of time. Once a trader relies solely on Hope from fundamentals and economical new releease while using 100% of the available margin it’s a flip of the coin and this time the coin landed on tails. You lose.

Jason if you’re reading this, You had a chance to change your trading system after you luckily recovered from the first huge 50% drawdown from the beginining of April. You even promised you would slow down and make your strategy sustainable, but you didn’t even try. The available margin was once again maxed out and the entire account balance(bet) was on Black. Maybe Casinos are your thing, but surely not FX.

First Discussion before account deletion – here
Second Discussion til account busted – here

High Risk + Martingale = Blown account

Our First Review

What broker is performing the best?

It’s a question that I get a lot and it’s quite hard to say one is better than another because what happens today may not be true tomorrow. The most frustrating thing about rating brokers is that their trading conditions change over time. What works today, may not work tomorrow. From my experience, I’ve seen good brokers go bad. Just remember that most brokers are not a True ECN Straight Through Processing exchange and as a result, brokers have a reason to short change you. From slippage, execution delays, server outages, and spread increases these tactics whether you like or not earns a significant bonus for the brokerage.

What I’ve done today is compared several popular FX brokerages that trade the signals from Forex i007. The statistics are only taken from yesterday’s performance but it still is enough to see the difference among the brokers. I’ve put in account the GMT offset from each brokers server and selected a 29 hour trading window which took place from GMT+0 May 2nd,2012 00:00 til May 3rd, 2012 05:00

Forex i007 Broker Comparison
• IBFX – Master Account – 41 trades – 307.7 pips no commission
• Pepperstone Razor – 41 trades – 387.5 pips – commission($7rt)
• Hotforex STP – 41 trades – 377 pips – commission($10rt)
• Pepperstone Std – 41 trades – 362.4 pips no commission
• Finfx Pro – 37 trades – 324 pips – commission($7rt)
• ATC – 37 trades – 310.6 pips – commission($8rt)
• ThinkForex – 40 trades – 299 pips no commission
• ILQ – 37 trades – 284 pips no commission
• PFG – 39 trades – 207.5 pips no commission

After considering commission fees, Pepperstone Standard account actually outperformed all the other brokers by a long shot. Through the last several months Pepperstone has been the most inconsistent broker because of the server outages, but yesterday must have been a solid connection and every signal was a success. Also when doing the GMT time adjustments and checking all the comments/magic numbers, I could have made a few mistakes. Overall its still interesting to see the comparison at the end of the day. In the past Thinkforex normally outperformed most brokers after considering the commission cost. Today, Thinkforex scored higher than most ECN + commission brokers besides pepperstone. ILQ and PFG are at the bottom where PFG high spreads caused over a 100 pip difference from the broker leaders.

I’ll try to do this every month since brokers often change! Thanks for reading.

9.9% Gain

100% Return on Investment in 6 months

Market Condition Starting From Beginning of Month
• Tight range with High of 1.3375
• 5 day sell off after break out of range finding support at 1.3030
• 5 day range with resistance at 1.3150, after 3 tests price breaks out to 1.3200
• After high of 1.3200, finds supply zone and reverses to new low at 1.2995
• Double bottom at 1.2995 with surge of buyers at demand zone, rallying 150 pips in London/US session to old resistance at 1.3150
• Range bound while testing 1.3080- before retesting highs at 1.3200
• A break of 1.3200 resulted in a 100 pip sell off before finding solid support at 1.3120
• Bullish channel is formed near end of month, breaks range bound and finds resistance at 1.3250
• Strategy – Range Bound –
• Comment – Started with Break out to short side( Sell), then Buy positions entered after the 100 pip sell off. Buy positions were premature and resulted in a 10% drawdown most of the month eliminating new entries. We were left with half of the normal trading volume after most strategies were turned off after the 10% drawdown. Once the bullish channel formed, our drawdown reduced, strategies became active, and we closed all the positions out at profit to end the month near a 10% gain.

Learn more about Forex i007

All open positions will be closed on June 5th and funds will be sent back via the method of payment.

FIGFX.com Broker Closed Down

This broker couldn’t handle several customer complaints and finally decided to close their operation and vanish with all their customers funds. True Story.

Read the most recent reviews on Forex Peace Army here –

FigFx January 27, 2012 :

Hello,

Posting any public material will be considered as an additional violation as per our same terms of service agreement (Paragraph #17).

To make sure you will not do the posting, I have put your pending withdrawal of your initial deposit on-hold for 180 days. If you do not post any public material within the next 180 days, feel free to re-open this ticket and ask for your withdrawal.

Can a broker really do this? If you post a review on a specific broker, they have the right to hold your money/BlackMail you to prevent you from telling the truth about their operation.

Paragraph 17 states that all customer matters must allow 6 day to be resolved by FigFX before reporting/posting reviews on their company.

I issued a warning about ACME HEDGE ( a managed account manager listed On Forex Peace Army) in November 2011 after I found out that they were using a dubious FX broker is Panama and were also using an arbitrage scalping strategy to regain losses/ recover from large drawdowns. The first article can be found here –

Several months later, a customer was scammed by this broker and the evidence is posted on Forex Peace Army here- This client lost over $20,000. Don’t make the same mistakes as he did.

Now keep in mind, ECN Alpha is also known as another fx Brokerage named FX Optima, and their name will surely change again.

ACME HEDGE

04-23-2012, 07:04 AM #6 mrgummo
Recruit
Join Date
May 2011
Posts
4

I’m using ACME Hedge and ECN Alpha. Short story is that what ACME Hedge puts on their website, concerning closing the trade when it reaches 15% drawdown is a lie. I am below 50% and it is still active. As for ECN Alpha, The margin call was supposed to be at $4800 (100:1 with 4 positions open at 1.2 lots each), yet this morning the account is already under that amount. When this all finally wraps up, I will post what the end results are. Good luck with your situation–I hope you have good news to share at the end of this “ride”. Two lessons learned–one, only work with a registered broker, and two, manage your own accounts!

I’m not sure how I ended up on their mailing list but about 10 days ago I received an typical PUMP and DUMP News letter from this website. The interesting part is that the advised company was one that I’m quite familiar with and I’ve had an interest before their news letter. Since I’m quite aware of the tactics used by Penny Stock promoters, I sat on the side lines and waited for the Pump and Dump. The funny thing is that the PUMP never took place and only a DUMP.

Maybe their promotion wasn’t enough to entice investors and trades to push the stock higher and the trading volume was only enough to bring in the NEW, and let the OLD exit before the stock price dropped by 50%. Keep in mind that their News Letter was Paid for and were only released to allow liquidation of shares. You must have a Buyer for Every Seller and the sellers obviously wanted out for what ever reason it was.

Below you will find their Disclaimer. It’s quite funny!

Disclaimer

This report/release/advertisement is a commercial advertisement and is for general information purposes only. Never invest in any stock featured on our site or emails unless you can afford to lose your entire investment. The disclaimer is to be read and fully understood before using our site, or joining our email list. PLEASE NOTE WELL: MyBestStockPicks.com and its employees are not a Registered Investment Advisor, Broker Dealer or a member of any association for other research providers in any jurisdiction whatsoever.
MyBestStockPicks.com is often times compensated to feature certain companies. These third party, may have shares and may liquidate it, which may negatively affect the stock price. This compensation constitutes a conflict of interest as to our ability to remain objective in our communication regarding the profiled company. Through use of this website viewing or using you agree to hold MyBestStockPicks.com, its operators owners and employees harmless and to completely release them from any and all liability due to any and all loss (monetary or otherwise), damage (monetary or otherwise), or injury (monetary or otherwise) that you may incur. The information contained herein is based on sources which we believe to be reliable but is not guaranteed by us as being accurate and does not purport to be a complete statement or summary of the available data. MyBestStockPicks.com encourages readers and investors to supplement the information in these reports with independent research and other professional advice. All information on featured companies is provided by the companies profiled, or is available from public sources and MyBestStockPicks.com makes no representations, warranties or guarantees as to the accuracy or completeness of the disclosure by the profiled companies. Compensation for this advertisement is two thousand dollars. None of the materials or advertisements herein constitute offers or solicitations to purchase or sell securities of the companies profiled herein and any decision to invest in any such company or other financial decisions should not be made based upon the information provide herein. Instead MyBestStockPicks.com strongly urges you conduct a complete and independent investigation of the respective companies and consideration of all pertinent risks. Readers are advised to review SEC periodic reports: Forms 10-Q, 10K, Form 8-K, insider reports, Forms 3, 4, 5 Schedule 13D. MyBestStockPicks.com is compliant with the Can Spam Act of 2003. MyBestStockPicks.com does not offer such advice or analysis, and MyBestStockPicks.com further urges you to consult your own independent tax, business, financial and investment advisors. Investing in micro-cap and growth securities is highly speculative and carries and extremely high degree of risk. It is possible that an investor’s investment may be lost or impaired due to the speculative nature of the companies profiled.

Update

CONTACT INFORMATION:
Li-ion Motors Corp.
Website: http://www.li-ionmotors.com
Phone: 702-940-9940
Licensing/Sales/Reservations: sales@li-ionmotors.com
Investor Relations: ir@li-ionmotors.com
pr@li-ionmotors.com
Past OCTBB: LMCO at 0.08 USD
New OCTBB: LIMO 0.15 USD

SEC FILING – http://biz.yahoo.com/e/120321/limo.ob10-q.html

My Concern:

• No Real Account: Their website only displays screen shots with one HTML Statement that they claim to be running this system since February 2011
• An affiliate ( MellyForex): Deletes their demo account from Myfxbook after the trading discussion goes south after a customer fails to receive their refund. Click Here
• Only TWO Real accounts on Myfxbook – One is not verified: Click here – Verified at Thinkforex Real
• Forex Thor is a Tweaked Million Dollar Pips EA: Fades Impulse Spikes on EURUSD – Keep in mind MDP EA came out in MAY 2011 and Not February 2011 ( Forex Thor Trading Statement started in FEB 2011 BEFORE MDP EA Was released – That’s a red flag!
• MellyForex Trading statement is hosted from their website as they no longer use Myfxbook for Verification purposes – Why re-invent the wheel?
• Forex Thor Vendor Account is at FXPRO and running on a DEMO account. It is hard to stomach any Forex vendor selling products based on Demo accounts and especially a Scalper that has an average trade duration of 1 minute
• The vendor references back to the statement on their website ( HTML: They can modify the statement in anyway they want. ) for the REAL account and fail to upload this account to Myfxbook.

Luckily this is 2012 and after the fact that most forex traders are aware of these endless scandals. The traders at Myfxbook see the same concern as me and I’m glad that more are willing to ask some simple questions when vendors come out with their products.

Here is a Quote from Myfxbook Discussion:

Great job kishorejoga!

So now we can see that Alexander Collins is a liar and that he has stolen MDP code! ( link provided below for verification)

I’d say, it is the Same Code but tweaked. Its still the same principle and you will have the same problems as many did with MDP. Now if you filter (I won’t get into the logic or coding) to improve the original MDP, so be it, but at least be honest and tell us up front. In the end, Customers not getting a refund.

Conclusion:

Forex Thor is a repackaged and tweaked Million Dollar Pips EA. You’ve been warned.

6% Gain

From our March Outlook we’re right on track, just like we said.

Market Condition Starting From Beginning of Month
• Within High of 1.3385 and Low of 1.3000
• 7 day selloff to low of 1.3000 with two retracements
• At Low with 300 pip rally lasting several days with pullback to 1.3190
• After pullback to 1.3190 , found support and rallied 150 pips in 8 hours
• High of 1.3385 with 150 range, not retesting high
• Support at 1.3250 with bullish move to 1.3375 ends the month
• Strategy – Range Bound – Sell the Highs, and Buy the Lows with focus on BUY Trend
• Comment – We started the month with a big loss and made several adjustments to stabilize the system to recover from the previous loss. Adjustments proved to be a success as losses were recovered and we ended the month in profit of 6%. The market offered many opportunities allowing us to choose our entry and exit which enabled us to close down the system before Friday, Two weeks in a Row. Our Goal was simply to recover the previous loss and end the month at a breakeven. We were rewarded with over 500 trades in March with 1400+ pips in profit. In all we made over 3000+ pips in March as we had to recover a 1600 pip loss in the first week

500+ trades in March

Harbinger Group founded by Philip Falcone in 2001, once operated as a lucrative hedge fund which focused on distressed opportunities, event-driven situations, restructurings, capital structure arbitrage, and short sales of securities. Their well known accomplishment were a highly leveraged and very speculative deal on the Housing bubble ( Sub-Prime Lending). Harbinger Group walked away unharmed from the financial turmoil while achieving a 116% return in 2007. Luck ran out in 2008 as their portfolio tumbled from $25 billion in assets under management to $6 billion. While his personal net worth proclaims a billionaire status he exits the hedge fund business and became a publicly traded vehicle on Wall st under the NYSE ticker: HRG.

Why go Public?
• Hedge Funds can’t advertise. By establishing a company traded on the New York Stock Exchange, the media does enough advertising for your company. Whether good or bad.
• After significant losses in 2008, your reputation is ruined and since advertisement is strictly prohibited for hedge funds, word of mouth isn’t enough to bring in more capital. By going public, raising capital becomes much easier.
• Create your own market – A publicly traded stock often follows the trend of the major index, however day to day volatility, market gaps, and public announcements are all ways for the company sell shares high and buy shares back at a lower price. If you know Jim Cramer, then you know exactly what I’m talking about. And, for those that don’t click here

Learn More about Forex i007