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An interview with NestFund admin, Luke. Do ask him any questions via Comments should you have any.
Q: Tell me more about yourself?
My name is Luke, I am the administrator at Nest Fund. I am a student in my mid 20s. I manage the funds and membership for Nest Fund. I have known our trader for about a year and a half. He has been trading for several years and has become very successful.
Q: Are you involved with any other programs before? List them if you have.
Nest Fund evolved from a program Robert and I used to run called HYIP Mutual. No one lost money, but the program was stopped and turned into Nest Fund.
Q: Is there a team involved with NestFund? Who are they and what do they do? Briefly introduce them as well.
I work with Robert. He is more on the technical side of things such as setting up the website and writing the code for our deposit/withdraw system.
Q: Can potential investors or the current members visit you if they have any queries about NestFund?
Not at this time. We are looking into what it would take to open up an office or something along those lines. But that would require Nest Fund to grow. I am available online most of the day.
Q: Why did you start NestFund?
Simple, I saw a great way to make an incredible amount of money and to be able to help people who may be in need or who were hurt by Scams. When HYIP Mutual was a bust I asked our trader if he wouldn’t mind trading for the program. He said he would and thus we opened Nest Fund. I have known him since 2005 and I was aware of his average earnings and experience. I felt he could support Nest Fund’s members and help us grow with modest returns.
Q: When did NestFund start?
Nest Fund started at the end of 2006.
Q: What is the average returns are we looking at per month?
I have learned it is seasonal, but should float around 8% a month.
Support Questions
Q: Is there any additional steps taken to secure members fund?
Robert wrote the script for the site so it should not be hackable. I access Nest Fund’s e-gold account through Linux only. When I transfer the money to our trader he is online at the same time and he sends it to the exchanger that very same minute. We take our members investments seriously and have implemented what we believe to be a strong enough security system to keep every except the hackers happy.
Q: What Support Options do you offer your members?
I am online most of the day everyday. You can contact is via email, IM, or our message boards. E-mail – nestfund@yahoo.com Yahoo Messenger – ‘NestFund’
Q: Is there any plans to close your program or go private for new investors at anytime?
At some point yes, the program will go private. For two reasons; one the bigger the program the harder it is to manage. Just look at what happened with Golden Rocks. The 2nd reason is due to our traders trading style too much capital may cause slippage in the market meaning the trades could lose efficiency. This shouldn’t be a problem unless we grew to where we were handling more than a few hundred thousand dollars.
Q: Do you provide your members with regular updates as to what is going on with Nest Fund?
Yes, on our forum as well other forums such as hyipranks and nobsnetwork.
Portfolio Questions
Q: Do you currently run any other sites/ programs?
No
Q: Are you a member of the CFTC or NFA?
No
Q: Are track records available to investors?
Yes, on our forum.
Q: Which broker are you using for forex trading? Do they accept E-gold? If they don’t, isn’t there suppose to be a fee involved when it comes to in and out exchanging of funds? How are you dealing with those issues (if any)?
Our trader uses Interactive Broker. They do not accept e-gold. The fees are covered in the 10% withdraw fee.
Q: Is it possible to allow me to look into your forex trading account with view permission?
Trader: My partner (Luke) regularly posts account statements showing equity growth and I think it is enough. This is because I wouldn’t like to show my exact entry and exit points which could disclose my methodology that has been the result of a lot of hard work.
Q: Does the trader have any sort of trading system to ensure the returns or at least with the risk minimized? If yes, describe in details.
Trader: This is not arbitrage trading so returns are not guaranteed, but risk is managed according to professional standards, no more than 2% of equity is risked per trade, hard stop-losses are always used and never moved (only trailed in favor of the trade). Trading method has been traded live for a long time and is proven to be profitable. Of course past results are not guarantee of future, but I am absolutely sure that risk management is optimal at least at the current stage of program development and considering the current amount of money traded.
Q: Is there a Reserved fund established?
Yes, it is growing with each withdraw.
Q: Would you like to add anything else?
Nope, if you have any other questions please do no hesitate to contact me.
Questions for the Trader
Q: Are you a fundamental or technical trader?
Trader: Almost purely technical. Of course I take note on fundamentals (mostly news) which affect the market, but place trades based on my technical view which is mostly based on price/volume action, order flow and in some cases indicators for confirmation.
Q: What kind of leverage are you using to trade NestFund’s account?
Trader: Considering that there is ~$7000 of NestFund’s money I now manage and that one futures contract is worth ~$35000 (NQ) and ~$50000 (ES) and currently I trade with 1 contract most of the time, leverage is around 1:5-1:7
Q: What trading methodology do you employ? (Swing, Scalping etc)
Trader: I would call it intraday swing trading. Because it’s not entirely scalping (in the futures world pure scalpers usually trade off the Order Book only and hunt for just a couple of ticks), but my time frames are much shorter than for typical swing trader and I never hold positions overnight. Average position holding time is from several minutes to several hours.
Q: Which pairs do you usually trade?
Trader: Not pairs really. I trade futures contracts: NQ (e-mini NASDAQ 100) and ES (e-mini S&P 500).
Popularity: 6% [?]
Nice interview… great work, Jude… just wonder, why this program is absent in your wishlist…
Thanks Jude!
Just wanted to say it’s NOT me Luke… lol! (Not exactly the same orthography! So don’t make confusion…lol!).
I second what SStheHYIPer said, this is a great interview!
SStheHYIPer, I haven’t conducted any reviews for it yet, and since I’m really really particular in transparencies of programs, it’s not in my program list as yet.
Depending on how Luke will agree to our review terms as well here in Nobs
Hi Jude,
It looks like Luke is trading futures rather than Forex. In my experience futures trading platform are not as sophisticated as the Forex platform tend to be.
As far as I know, IB does not offer a view only option. Reports can be generated each day but as you know, anything in a digital format can be ….. shall I say “enhanced”
I think this fund has some potential but I didn’t like Luke’s reason for not allowing you look into the trading account. There are plenty of good reasons why he may not want to give you access to the trading account. Revealing his trading methods is not one of them.
The reason Luke gave usually is given when an admin has something to hide. The average investor would not have a clue as to how to determain trading method by looking at entry and exits only.
Matter of fact, even an experience trader would have to be a very experienced chart reader to rebuild a trade situation.
There is very little a person can learn by looking at just entry and exit points.
Keep up the great work Jude
Yep, they’re dealing with futures. Initially I thought they were dealing with forex when I submitted this interview to them.
That’s what I have been telling Luke as well; it’s never easy to pick up things just by entry and exit points of a trading statement.
Well we’ll see what Luke wants, if he wants NestFund to be reviewed by us, he’ll have to provide the things which I ask; though everything will be kept in confidential and not shared with the readers, it will be good if someone could do it to make sure they’re trading, for real.
Thanks for dropping by Paul.
Sorry guys. Its not up to me, but if it were I would probably do the same thing. Our trader can/does make a lot of money without our money. He is doing it more as a favor right now because he is making nothing of our profits.
Paul, our trader laughed at the comment “futures trading platform are not as sophisticated as the Forex platform”.
Our trader s now trading on ES market and he says average return should be higher (lower lows but higher highs). He is doing great so far this week. Expect a good return this month.