Money Manager (Fiscal Focus) has lost 75% of account in 1 week... what should I do?

First things first, I’d like to say Hi to everyone on the Forum. This is my first post on the forum, so yeah, Hi, it’s great to meet you all. Forex is fairly new for me but I plan to get stuck into it. I’ve had a practice account going with Oanda for about a month now and I’ve read Michael Archers ‘Getting started in Currency Trading’ but that’s about it! Looking forward to learning more and hopefully making an income out of Forex and futures one day.

Cheers

I would get out now and just suck it up. Your manager has to book over a 400% gain on your capital just to break even. We have no idea how they trade or what their “expensive system” is. But it is churning a lot of trades. This could be that it’s a high speed algorithmic system or they are just churning your account into oblivion with introduction broker percentage or something. To be perfectly honest I would never trust a money manger that didn’t have a proven track record , screened his clients, and only accepted large accounts minimum of 5 or 6 figures. If his system is so amazing that he could produce 400% returns then everyone on the planet would want to invest with him and he would be managing multiple billions. And not need your 1k. The only course of action in my opinion is take your lumps an learn to trade yourself. Even then we can’t even trust ourselves 100% of the time.

This has scam written all over it!

Didn’t “give us lots of money up front and keep giving us more every month” sound a little suspicious when you signed up? If they were the slighest bit compitent you would expect something more reasonable like “give us your money, we’ll use it in our system and cream a percentage of the gains off the top.” At least that way they are confident that you will never need to top up your initial deposit.

Not to be harsh but this is clearly a scam of some sort, if it worked wouldn’t we all be using it? I’ve never even heard of Fiscal Focus but even viewing their website set my alarm bells ringing.

[I]"This service give you the “Winning Edge” and diffuses stress and emotion enabling you to get on with business, work, and relax with your family and friends. "[/I]
Oh look no work and easy returns for me, yeah right! If it sounds too good to be true then it probably is.
[I]
"Fiscal Focus has maintained and enhanced our product offerings for all our clients. Being innovative and lateral thinkers; we concentrate on every aspect of business development and trading. "[/I]
Hmmmm, really?

The whole website is so buzz word packed it makes me cringe, without any discussion of what they actually do. Get you’re money out NOW and save what you can.

Since you’re out that much and only $240 left I’d leave it and see what happens. You know… just for shts n grins. Expect to loose the remainder though, high probablility. and Don’t give them any more!

My demo account without system, plan, etc shows better stats… Could I be a money manager then?


Man, pull out now, dont wait till your drained, thats not very wise, even if you have money to urine away…

If you dont care, at least have the trades in your OWN control, and your learning, soooooo, USE IT TO LEARN,

Crap, even just use MACD on 15M TF, and trade the tops and bottoms at least, give your money a better chance then letting these dudes eat your cash up, they dont care…

And, Im interested to hear, [B]We came to an agreement where they would waive these these fees for 1 month, so that I could assess their returns and authenticity.[/B] RED FLAG, Reliable Proofs would have stopped this from being an option,

“[B]If you we’re wiped out we would help you out [financially], [/B]but with this strategy that’s almost an impossibility.”

really, they will give you money back or something? Thats funny

Hi, this is my first ever post but I too have been sucked in by Fiscal Focus. I only hope other people who read this can either exit before they commit or pull out any money they have under the control of these thieves and cowards. Burn in hell all of the people who find it neccessary to rip off others and more fool me for trusting another person with my money. Lesson learnt.