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He mentors people on proper trading strategies alienating information he perceives irrelevant to becoming a successful trader. Nick McDonald created ForexSignals. Warm regards, Javier H. His approach to trading was to max out the available margin of the master, to close the positive side of trades and let the open losses ride with the hope that the market would turn around. In sideways markets this approach might work many times, but on May 11 and 12 the British pound trended on a big way and touched 1.
After that point, the sub-accounts were on intensive care. He called multiple times asking us to cancel the trades with the promise of bringing more clients to us. We told him we couldn't do this for him. To complicate matters further, he changed Pamm settings an average of once a day and kept on trading aggressively taking many accounts to a margin call situation.
The more he changed the Pamm settings, the more difficult it was to perfectly hedge open positions. If it was other people's money, I'd jump out a freaking window if I wasn't dead from a coronary already.
It looks like Mr. D u m b A s s was good enough to attract money from clients - good enough to feel it is a marketable enough skill to offer it in trade for having his dealer take the losses of the positions he accumulated but with money management skills equivalent to those of Danielgsx. Then, he tries to mitigate the damage by trying to play on the public opinion's general distrust of market makers.
He should have partnered up with someone who can really trade and relegated himself solely to the solicitation of funds from clients. Instead, he took everyone to the crapper at light speed. It appears that they are talking about two different things, but making it sound like the same thing. Was this a platform error that executed trades by itself, a newbie trader that traded badly, a managed account where the "manager" traded badly without the account holder's permission, or against the wishes of how the account would be traded , or Interbank FX hedging that went haywire?
Someone make it clear exactly what happened, in order, so that it is clear what the complaint is Posted by mobbbb Member on June 21, AMJune 21, AM: Maybe a gohst entered the trades and then vanished while the asset manager was gone?
I wonder the same why Interbank doesn't just sue Cash monsters? Was a bit impossible for me to believe that a serious company can have such failure in their software but when I saw this letter from this executive Paz I understood must be right, when you don't have nothing to excuse you just have to be quiet, why then give explanations? When people asked what this PAMM in question is they explained works for Percentage Allocation Money Manager is used for professional traders who manage several accounts you can set to distribute by percentage or by lots, usually they said you set it once and never again.
Paz mentions in his post Cashmonsters Trader Changed the Pamm every day. I want to believe that but I can't. Reason Simply. In the other hand I asked what "hedge" term means and found that is short and long the same currency in the same account then this phrase make no sense from Interbank: "May 11 and 12 the British pound trended on a big way and touched 1. Making math 1. I saw the pound as Paz Mentioned in his post and it went down to 1.
The problem for Interbank is that as far as I can see Cashmonters has not made any comments or post as Interbank do a self defense. They can not then complain Defamation. Here the Note from Zelli is good idea record your calls but that is illegal so wont be valid unless both sides agreed that both are being recorded. Then if interbank has Cashmonsters calls recorded they will win this case.
I would love to hear Cashmonsters begging with the promises of more clients but I guess we wont see that. I wont open my possible self traded account with Interbank anymore and I wont open a managed account with Cashmonsters I would love to see who lies and who is honest but I want to trade I will open my account with Oanda and another one with FXSOL. Cashmonsters is famous for aggressive trading then pips in question should be piece of cake for an aggressive trader, Interbank is famous for the 2 pips of spread and now for revealing names.
I wonder then If Interbank detected a bad trader placing crazy trades why they just did not stop or block his trading screen? Interbank make money for every trade trough the spread. I do not need to conclude then more.
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Finally Coming Clean About Quitting Forex... (The Best Decision I ever Made)Abel Morgan of Middletown, N.
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