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Yes, anyone.
For all you know, he might be the next one to run with your money, or maybe lose the ability to face you when the problems.
It started with Rog, from HYIPDiscussion. Everyone was under the impression that he was a standup up guy that offered advices from offshore banking questions to E-gold Q&As. At the start of Rog’s offering a program, people hopped on the band without affirming his identity.
Little did we know that now at this point, his program has already bitten the dust and to what we understand from HYIPD’s administration and some of the guys I know, he has always been logging on using a proxy, and no one ever knows how to trace him down.
Then comes the long long long standing forum moderator Rabbit, from HYIPD. He’s a really nice fellow that always hang around the forum with ridiculously 10,000 over plus posts. Being a little ambitious, he started a private offer to people in his special group to join him in a forex MA (It’s managed by Hermann (No I’m not taking down the name)). What happens now? He’s gone missing, no answers to the phone and not even a decency to just bring himself to explain the situation.
Bottom line, never trust anyone too much with your money, no matter how nice they look to you. Do your own due studies on the programs you wish to join, and then make the plunge if you’re only VERY VERY, very very sure.
Popularity: 2% [?]
Sorry to hear that. Haven’t seen Rabbit around for a while. Figured he had left the HYIP world. This was obviously a private program. The name of the trader sounds familiar. Was he also the trader for the FX-E program?
Does this mean one day Jude will offer a nice opportunity and suddenly vanishes? Maybe, maybe not. But you are right Jude, only trust yourself or only rely on your own judgements.
Makila, this will never happen. Unless there’re really strong compelling reasons why I should run something, else I won’t.
I’d rather much stick on the player/punter/investor side and work along with everyone.
It sounds nice, but time will tell. This blog has been around for quite sometime. You haven’t seen me doing funny do you?
Make money together.
That reminds me I shouldn’t put too much money into PeterB’s Club FX Trader.
I have been a proponent of managing your own funds for quite sometime. The problem is that most of the people in the hyip arena have very small amounts to work with. That makes the more secure investments out of their reach.
Also, lets face it, most hyipers are lazy. They would much rather someone handle their fund then going through the long learning curve of learning to do the trading themselves. I can understand this frame of thought.
Good news is, that this year the arena will be flooded with managed accounts that are available for the smaller investor.( Accounts starting at $2,500) There will also be a number of pooled MA started because of the success of Freedom Rocks. I have already counted 5 this year that have popped up using the FR system or some sort of variation.
BTW if you haven’t taken a look at Freedom Rocks and you have $2,500 to start a trading account, it is by far the easiest way to profit from the Forex market without having to know a lot about trading. You won’t get rich overnight, but it is a proven system that will generate high single digit returns each month.
http://www.simurl.com/Freedom_Rocks
The best investment strategy is to have at least 50% of your funds in a MA where you have total control of the funds. You can find a reliable MA paying around 5% or more pm.
Take the other 50% and split it up so that no more than 10% of your total portfolio value is in any one program. Pull out your interest earned on the hyips and realocate so that you keep the basically the same risk level in your portfolio.
This is a conservative approach and you will most likely average around 7% - 9% monthly depending on the hyips you get involved in. But, you not have to much of your money at risk in typical hyips.
I realize a lot of people may not have enough money in their portfolio to allocate funds this way. That’s oK. Those people will have to take a little more risk by investing in a verified pooled MA or possibly allocating more funds to the hyips they invest in. Just make sure you keep in mind that you want to start getting control of your funds as quickly as possible.
Following this suggestion will go a long way towards making 2007 a much better year.
Best wishes
Paul
I’ve actually demo-ed FR and had fun with it. But there’s also FFS there which is more cheaper for people to pick up hedging instead of using FR’s system.
I kinda hate the idea of marketing through MLM for FR.
Hi Jude,
I’m not familiar with FFS. Maybe you could send me a link. Some people are turned off by the MLM side of Freedom Rocks which is to bad because you don’t have to ever market the system to take full advantage of the system.
Although MLM has a bad name, it still is the most effective way of marketing a new business. Case in fact is that Freedom Rocks has been growing at 40% a moth in new members.
Personally, I held off on Freedom Rocks earlier because I was already using an effective hedging strategy. I began to see the light when I saw how effective FR was and how easy it was for members to implement There is a little bit of a learning curve but a person can be set up in a few hours and after using the demo for a few weeks, a person could be an ole pro.
Thanks for your reply and please send me a link on FFS.
Best wishes
Paul
Its a problem scammers will start to face in the long run. 99% of people that run trading programs online are scammers/frauds and cheats. But 1% is really honest. Some of them will NOT fail. Eventually there will be a bunch of honest admins running sites that will last for years to come. Then you also have the MA’s. People have full control over it, again some admins will abuse it and suck the MA’s dry but others will be honest and will kill the bad once. In the past there were no online opportunities that could stand up against the PONZI’s but now that we have FOREX, I think eventually things are going to change. More and more skilled trader launch their own programs. Why? Everytime someone claims to trade in forex and pulls the plug, these skilled trader will be insulted with words like :”Forex is unreal, you cant get any profit, see? site A scammed again! and so on…” Just my say. Peter.
Hi Peter,
Very astute reply and I agree with some of things you have stated.
Yes I agree that scammers do shine a bad light on a potentially good program. But, it is only the uninformed who will tend to compare programs that really have no comparison.
It is truly ridiculous to say just because I was involved with a FOREX program that was a scam that all Forex programs are scams.
Personally I think that the only “real” programs found in the hyi arena that generate that type of returns people are looking for are real commodities trading based programs and programs based on some type of online betting( financial,casino or poker) Anything else is probably a ponzi.
The reason I like the above example of legitimate ways to generate higher rates of returns is because they can all be verified. One of my hard and fast rules is that if it can’t be verified then it can potentially be a ponzi and I treat it as such.
Now, from your post I get the impression that you are assuming that if the masses don’t trust a program then it will fail. If this is what you meant, I tend not to agree with this assumption. If the program is generating real returns, popularity really doesn’t matter.
All the Forex Program admin has to do is raise enough money to open up a brokerage account. If he/she never raised another dime after that but made consistent returns that please the initial investors, the program could survive for as long as the trader wants to trade. If they decide not to trade anymore, they just cash out the account and return everyones money.
If it is a MA, all they have to do is inform everyone that they will no longer be trading the master account. People can then close out their own account or look for another trader to trade it.
The real problem is not the scammers. There have always been scammers in the financial arena and there will always be scammers.
The real problem are hyip investors. Most hyipers have a “lottery” mentality They want to get rich over night. Or, they do not want to take the time to learn about the instrument they are investing in. At least find out if it is possible to generate that type of returns the trader is claiming.
It is extremely easy to know for sure if some one is really trading the Forex market or not. Just a couple of questions with a little bit of proof would disqualify almost 99% of the sites you see on the web claiming to trade the Forex market.
HINT:
If you see this statement, run like the wind. “We trade Forex and the NASDQ” These are two vastly different animals and you rarely if ever see a serious trader trading both at the same time. Usually it is one or the other.
I come across hundreds a sites a day that contain that statement. It is such a joke.
Actually there are only 2 things to look at when we are determining how risky a program is.
-1 IS THE PROGRAM REAL
-2 IS THE ADMIN COMPETENT AND TRUSTWORTHY
Maybe we can talk later about determining admin competency and trustworthiness. This is a little more difficult to determine but we can play the odds.
Best wishes
Paul
http://www.forexforsmarties.com/ - FFS
Thanks Jude
Hello,
First of all, I didn’t follow that much, but did you say Rabbit left the HYIP arena and scammed? Or did you mean Rog?
Also, FFS…. Does this really work? Is it easy to understand?
Warz
Rabbit is not picking up calls (almost as good as scam) and Rog? yea he scammed.
Okey… Did a lot people invest with him? Can someone who tryied them tell me werether FFS works good or not
Thanks,
Warz
FFS is easy to follow, and really depends on market conditions for performance.