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I’ve saw some funny opportunities flying around lately in a group.
First, let me introduce you the definition of managed account:
# This is similar to a discretionary account where a client has given specific written authorization to a partner, director or qualified portfolio manager of an investment dealer to select securities and execute trades, but on a continuing basis and for a fee. Managed accounts can be solicited whereas discretionary accounts are opened as a matter of convenience to clients who are ill or out of the country.
so what actually happens is you’ve open an account with a brokerage (say forex one for example) and has passed the powers to trade to another person who can do it for you.
if he earns, he’ll take a cut from your profits by the end of the month (or otherwise depending on your arrangement in the written authorisation), if he doesn’t and takes a loss, your balance is affected.
So far so good. So you have nothing much to lose since you won’t be losing money to the usual scammers like in the HYIP lala land right?
WRONG
Some unscrupulous traders will play punk with your money by using high leverage/ratio and do punting (you might as well trade the account on your own in some cases) and wreck out your account.
So do not trust managed services that much until you’re really sure. What ticked me was there’s a program that I see being offered offers to trade a $100, $200 accounts opened in Oanda. No, even $10! Goodness.
You’re just simply wasting your time if you did open an account with a forex broker trading those kind of amount.
Popularity: 21% [?]
You are absolutely right. They just hope to make some huge ROI in some short time and get their percentage. If/when it turns into loss, they don’t lose their own bucks.
It’s like gambling on soccer with someone else’s money
You are so wrong
our system is no regarly trade and we are not in it for a huge roi we are here to help people gain a nice daily income.
see our result at sandellandpartners.com
as of today friday 5th january 2007 our official track record will start.
one oanda track record and one fxsol track record.
and of course a 10$ track record
Jimmy Sandell
Yea sure about that. Good luck with your program Jimmy
Thanks jude
this is not a hyip program
its a managed forex account at either oanda fxsol or interbankfx.
our 10$ account at oanda is up 4.7% without any risk whiping out our account.
jimmy
Jim, thanks for keeping us updated. I’m not slamming your program down as yet, but its really absurd to just open a brokerage account with $10.
Because this is not regarly trading so 10$ is really not so absurd as it sounds.
it’s all in the system we designed.
this managed account will act as a portfolio and not as normal trading.
that means that we want to grow the portfolio and increase you daily income “almost like compounding on a hyip program”.
lets asume you let your 10$ portfolio grow for 12 months
then your daily income would be between 8-15% daily of 10$
or lets say an average 1$ a day 7 days per week. that’s weekly profit of 70%.
i know it sound crazy but it’s all in the system we designed.
Jimmy
If I ask you to produce a business plan to explain what you’re doing, would you be able to do so?
Of course
full dd documents will also be provided
Drop all these documents to my email at jude@nobshyip.net
cheers.
sorry for not sending you the documents.
we have been so busy working on the website.
the track record is going well our 10$oanda account is up to around 14.30 usd that an amazing 43% and it not even been 30 days yet
and our interbankfx track record is up over 110% in just 10 days well hard to beleive that’s why we havent posted it on the site yet.
well you can have a sneak peak at the new site at http://www.sandellandpartners.com/eng/ hope you all like the design
and of course daily update of the oanda 10$ track record at http://www.sandellandpartners.com
il keep you updated
Jimmy Sandell
Hmmm, quite a volley going on here. I believe that Jude served a slam dunk with where to drop off the documents that Jimmy offered. Jimmy dropped the ball by not following through. Is this game set? Or will Jimmy serve the ball back to Jude? Anyone care to place a $10 bet on who will win the volley game? LOL
official launch will be 16th of july
Below are just ideas of my own. But feel free to use them as you please..
Anyone who wants to trade for others should pay a trader membership fee.(100$, 1000$, 5k or 10k for example equalling category bronze, silver, gold, platinum trader membership) Someone who wants to get him/herself a trader/upline should be able to choose which category of trader he wants. Of course minimum capital of 1000% is required. That means to join under a platinum trader you should fund your acc with 100k first. Then a random trader will be assigned to you. Of course anyone can just trade for theirself or join an upline directly but if the upline is an upgraded trader, you need to send the required capital within xx days or your upline will be removed.
Now why would you want to be an upline if you gotta pay a membership fee for it? Well a good downline earns you a lot of ref commission. If you as upline have a good reputation, others will join you. A top list of traders should be posted. A bronze trader could for example be rewarded with an upgrade to silver if he/she makes sufficient profit. Top traders on the list are more likely to get a good downline.
So its better to start as a bronze trader, paying 100$, build up your reputation slowly towards a top platinum trader and get a nice downline.
Why would above system work? well, a scammer doesn’t want to pay 10k to be a top trader asap(without working his/her way up) just to scam others. They would loose their own money as well then. And a platinum trader that worked his/her way up from a lower rank, is less likely to scam because they worked to be where they are.
$10 managed accounts? Uplines/downlines? Sounds like MLM!
Jude, did jimmy ever provide you with the DD you requested?
So jimmy talks a pretty good game and then just drops off the radar screen.
Suddenly, six months later, boom he resurfaces. A little background info would be nice.
I joined this discussion several months too late, but here’s my input. You can find a con artist in ANY industry. Forex trading happens to be relatively new and unregulated. That means it’s a prime arena for scams. Onto the topic of managed accounts…
I make it known that I run a managed account program of my own. What I’d like to point out that a notion like $10 minimum investment should not be seen as a sure-fire sign of a scam. Before I trust my own money with a managed account trader, I will put in the absolute minimum. That may be 10, or 100, or 500. But I take advantage of those terms by testing the waters. If after 3-6 months, my 10 or 100 dollar min deposit does not experience huge drawdowns and maintains a consistent growth, I would then begin to add more funds into the program.
Some managed account traders may really want to scam you out of your money. But for the rest of us, we want to make an honest living off of our ability to trade. I invite you review my own program and performance at spicecap.com
P.S. In defense of the poster above, I can understand how difficult it is for a one-man team to produce a business plan overnight. I admit that I have not provided my own clients a business plan. To make up for it, I try to update my forex blog with insights into how I am managing their money.
-shuli
i didnt even know all these happens in the forex arena. The last time i checked with FXCM on what I need to manage people’s account, its a whole bunch of requirements they laid down, as well as some certifications. I probably was asking for the wrong thing, if someone could go through that and manage a $10-micro-micro-micro-mini account. Hmmm. Could you manage a $0.01 account as well? How do I pay? egold or ebullion? instant withdrawals? everything happens on the internet these days.