Comments on: Ibiza Traders - Another Down

By: Jude

Jude — Wed, 31 Jan 2007 14:56:47 +0000

Mismanagement of risk assessment. That kills.

By: Gaby

Gaby — Wed, 31 Jan 2007 12:53:06 +0000

Is it greed that gets to them ? Do they try to make huge profits - since they deal not with their own money - so the can keep them for themselves (while paying membes a percentage) and when they make the inevitable mistake they close shop ? Or maybe they are just learning how to trade and instead of using their own money, they approach the hyip community ? Thats a nice concept, because they are not ’scamming’. I mean, it could not be called ponzi, just incompetence .. Did this trader have long experience ? if so how does he justifies playing all or nothing with the USD ? (not a good traders move..)

By: Agent725

Agent725 — Wed, 31 Jan 2007 09:08:48 +0000

If this man can be called a trader at all, he certainly didn’t act wisely by raising all stakes against the USD. I’m glad I was not in this one.

By: Doggy

Doggy — Wed, 31 Jan 2007 06:00:09 +0000

I perfectly believe that he definitely lost his reputation, because loosing thousands of dollars in just few weeks is just the proof how this guy is just so stupid. And if he worked for years in a bank as a trader as he told us, he probably stopped working there because he was fired due to his incompetency and to his impossibility to understand what money management and security of the funds is.

By: Black Dragon

Black Dragon — Wed, 31 Jan 2007 04:08:12 +0000

I don’t think there is an honest hyip program out there. After a year or so in this arena. The lure of easy money and the promises made by admins are just nothing but a pipe dream.

I haven’t funded a program for since October 2006 and as long as people have the mindset that they can put $1000 and compound it for 3 years without issues is cheating themselves.

Hyip is gambling. Timing and discipline are important. Knowing which program to go into when it’s in the up trend and getting out while playing with profits is a black art that many wish to master.

By: Conciliator

Conciliator — Wed, 31 Jan 2007 02:53:52 +0000

This is all such a load of BS. It started when “Peter” lumped all the deposits that came for three weeks *after* the loss into the broken fund, though he still hadn’t announced the loss. He said that everyone was in on the loss together, though a good deal of money from the most recent deposits hadn’t even been invovled. He refused to return this money (maybe because it’d make the loss look even bigger). He then took it to the next level of BS by failing to allow people to withdraw what was supposedly left of their principal. And the cherry on top is that we now learn that the entire fund was lost… what an incompetant jackass.

By: Makila

Makila — Wed, 31 Jan 2007 01:18:12 +0000

Is there any which could survive at all? –>
Sure there is. Peter Riss broke one of the most important trading rules in the game. As he said himself, he took extra risks to recup losses. Didnt We the Newbies and Amateurs who absolutely have no clue about forex trading at all, warn others about this rule?: “Do not take extra risks to recover or you will be burned.” But of course we newbies and amateurs are stupid and those so called pro’s know it all better dont they?

By: Jude

Jude — Wed, 31 Jan 2007 00:01:56 +0000

I haven’t been affected by this saga, simply because I didn’t place my funds in them.

Hope you’re not too affected by Ibiza and wish you all the best in your future endeavours if you choose to leave the zone.

Not a bad thing either, take care.

By: Lazyman

Lazyman — Tue, 30 Jan 2007 23:21:02 +0000

There you go, I won’t invest in those so called forex pros…. Just out to suck your money. DIY is the only way, and to think I have not much programs to recommend anymore, because this hyip game is turning into speculation.But I hope I found a few gems in my private programs, not looking to add more into my portfolio. Good luck guys!