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Dear Investors,
Another month has passed in the markets. In spite of my optimism in my previous updates about the markets becoming more attractive and lucrative, again I am disappointed. The month started off on a good note with USD attracting across the board. Main reason for this, in my opinion, were the US elections due next week. The Democrats are ahead of the Reps. in the polls which could mean a change in attitude towards the US role in the geo political arena or, in other words, not have the situation deteriorating much further. Along the month more bad news came out with respect to the horrible state of the US economy. That’s nothing new but as from the beginning of October the currency markets seemed to shrug off the bad news pretty easy. The 3rd week in October this changed all of a sudden and the USD came under attack; especially against Gbp. There we had to give some profit back unfortunately. The payout over October will be 5%. I understand many of you will be disappointed.
As I wrote in one of my briefings during this month we would change broker. Currently all assets were correctly transferred into our new account with a Swiss Investment Bank. However this process, as you might imagine, took 7 business days as it is not possible to transfer funds directly from a brokerage account to a new bank account. A brokerage will always pay back funds to the account where it originally came from in order not to be suspected of money laundering.
As a result we missed 7 to 8 trading sessions; during which we just couldn’t do anything except watching what we were missing out and sometimes fortunately missed out! We are very happy with the move to the Swiss entity as we don’t like to hold money in the USA with the current administration and eventual limitations they might or might not impose. The Swiss entity offers us on line and off line services and personally I prefer to work with people instead of machines. For you, the investor, nothing will change. For us a lot will change: perhaps I even can get a normal night rest as someone will watch our positions and call me up in case it is necessary!
Anyways I will be able to spend some more time off my desk, which is good, as 90 hour working weeks became the rule rather than the exception since I started IT.
Momentarily it is pretty “quiet” on the geo political front. Talks to Iran and Korea failed and the situation is status quo. Not much news is out about the matter and all eyes are now focused on the elections. It seems to me, at this moment, that markets take a wait and see attitude until the elections. Time will tell!
I thank you for your attention.
With kind regards
Peter Ris
Director
Popularity: 2% [?]
Atleast we made a positive again this month under the circumstances. I feel good about Ibiza.
Cheers. Thanks Jude!
BLINK
70% of my online investments is in IBIZA. I really like the way Peter runs the program. I think people should realize that the Forex market is not a joke. Consistent monthly results of 15 & 20% are really hard to achieve. An average monthly return of 8% is good enough for me.
Thanks for the update.
BLink, its zam4ever doing the updating, not me
You should thank him instead 
I am pretty fine with 8%. I only want to be sure there is real trading
It’s sad that I wouldn’t be able to check since they’ve switched broker. Then again, Peter did offer me a chance to do a Due Diligence on them and asked me to call him on the phone.
Will find some time to do it.