yes new filling of withdrawal
new update, few friends from keningau area had just noticed that their acc. being deductedā¦thats mean the withdrawal pending from nov is going onā¦
Good to hear that coz they canāt proceed to new filing unless all previous are cleared.
That is what I thoughtā¦some greedy people donāt understand about the problemā¦instead of hantamā¦hantam sahaja analyse the problem first how it happen. Once you understand you begin to appreciate it and be patience. You will be paid eventually.
Something wrong with your spilling here āfiled?ā it should be filledā¦which means in Malay is āisi borangāā¦Yes there is a form for you to fill if you want to withdraw in April. You can only withdraw in April and then the trade begins again in May
hahaha, that wrong SPILLING really caught your attention, if you have time you can review all the post from the beginning, there, youāll see a lot.
For me withdrawal doesnāt affect trading, it was only an excuse. They can update the lots used immediately after the deduction from your balance. The deduction from your balance is not automatically done by itrader and itrader sent to your bank, it is done by the staff and staff make regular update of lots used. When EDGAR is still using itās own bank account, there was no problem even how many times you withdraw in a month, still have 7-8 trades.
If you observe that your PC is slowing down, or having a virus and its hard for you to fix it, it is necessary for you to reformat or recover from your back up right?
So, if the the only problem of EDGAR is backlog, maybe it is better for them to RESET the withdrawals, disregarding all pending and filling a new one, through itrader, improved system and more staff.
Unless they have a problem with the company which we do not know.
Good news!! few of my frens account got deducted today!! but mine not yet, hope the rest still pending can get $$ soon!!
PipsConqueror,
The question is how much do you margin your account when you trade? When you talk about getting 10pips people compare with Edgar trade but Andy normally margin 30% of accounts which is quite high. If you do not margin so much then the 10pips you get cannot compare with the 10pips Andy gets. Also, the really rich people are the brokers because every time you try to get 10pips they already get 6pips whether you win or lose!
By the way, which currency pair can move 500-800pips in one month?
I agree with your statement on changing lot size. it really doesnāt need to take 3 months to update itā¦ not even 3 days. system got slow down/ virusā¦ come onā¦ if EDGAR made millions, why not just hire IT guy to do formating?
the 3 month of withdrawing time is still doesnāt make any sense at allā¦ now??? how??? any withdrawal???
The question is how much do you margin your account when you trade? - I only use 2.5%. supper small and I donāt have to worry laā¦ heheheā¦ no stop loss also as for the daily 10pips.
If you do not margin so much then the 10pips you get cannot compare with the 10pips Andy gets. - yes, smaller the better to meā¦ its my main income now, so I donāt want to risk big. also, why should I risk big?
Also, the really rich people are the brokers because every time you try to get 10pips they already get 6pips whether you win or lose! - yes, they make by charging us from spread. but try to use broker that have smaller spread. I am using FXCM as for my main account. spread sometimes may be as low as 0.2pips. and seldom requote.
By the way, which currency pair can move 500-800pips in one month? - major pairs. depands on fundamental. lets say USD/JPY. USD is a western market. YEN involve asian market. take toyota company example. once american import cars, what will happen to the YEN? stronger??? when YEN is strong, what does the japan folks need??? OIL. do they use thier YEN to buy OIL??? mostly they its IN USD. with these fundamental, where you able to predict USD/JPY movement??? hheheheheheā¦ thats why its always after the NFP. not everymonth I get to have the 500pips. sometimes only few pips, I already get out of trade. sometimes hit my SL. NFP tonight heheheā¦
Really?
When did they withdraw? How much did the system deducte?
I hope my account get deducted as soon as possibleā¦
I agree that itās one of the loss reason.
Because it is the fact that some MTW investors in Taiwan got huge loss on 1 March 2011.
They lost about 1/7 to 1/9 amount.
The above is the Edgar company.
And if on RGL company, it is the belowing:
The RGAF investors in Taiwan lost about USD 7,000.00.
All loss is about USD 1 million to 1.3 million.
That is all.
āAutomatically done by ITRADER and ITRADER sent to your bankā This is a questionable statement? The itrader never send money to your bank. Edgar has thier own appointed bank and the bank operates base on their instructions. They appoint and made agreement with money changer in Malaysia who acts as an agent to deposit your money to your bank account. Edgar bank never deposit money direct to your bank or TT to your bank.
Edgar Organization never operate like a PC as sugested by you. They have their own intricate management system to follow. If you have work as a manager before then you understand and appreciate fully how these things works.
Andy is using a software that doesnāt work automatically to update your account. It is all done manually. Imagine 15,000 account in sabah only. So What do you mean they are creating an excuse for the delay?
Please read carefully: The deduction from your balance is [U]not automatically done[/U] by itrader and itrader sent to your bank, [U]it is done by the staff and staff make regular update of lots used[/U].
Can you ask the management how many staff are managing withdrawals and the total number of investors July last year?
Maybe they could use the same ratio, staff:investors before they have a problem with withdrawals.
[I]Edgar has thier own appointed bank and the bank operates base on their instructions. They appoint and made agreement with money changer in Malaysia who acts as an agent to deposit your money to your bank account. Edgar bank never deposit money direct to your bank or TT to your bank.[/I]
Maybe they need to appoint more bank and maybe they have to modify their kind of instructions, Maybe they need more money changer in Malaysia who will act as their agents.
Sorry, Iām not against EDGAR, Iām also an investor, Iām just curious. Whatever info you can provide, Iāll be thankful. I just donāt have agent close to me to provide info regarding the problem. all wait la
Thay have 3 or 4 appointed money changer in Malaysia. The real problem with withdrawal is on Edgar sides not on Eastern Rich. The jam is on the New Zealand side. The office here is only regulating and solving your problems like accounts not deducted, banks problemā¦joint account not allowed, terminated accounts, giving wrong account nomber and lots more associated problem. The investors doesnāt understand this. Moreover when everybody start withdrawing at the same time again the que will gets longer and longer. The management here cannot advice Edgar to add staff on their side. Andy cannot do that.
It is good to here that we are on the same boat together. The agents are not suppose to run away from their clients. They are paid commision to do their job. If you find them trying to evade you, you can write to Eastern Rich to complain against him. From what I was made to understand from the breifing, agents can be suspended and their account terminated. Place have the time to complain about your introducing agent. Thank you.
How do EDGAR process the money from withdrawal? For example I withdraw and my bank account is in Singapore, from EDGAR bank to Malaysia going Singapore?
What is the function of money changer in Malaysia with regards to withdrawals?
When you withdraw your fund from your account you must state clearly your bank account no, name of bank, address Singapore or Malaysia, Swift code, must state clearly bank account no, many times people makes mistake on this one donāt to bother to check before submitting and then blame Edgar for their mistake. You have to be sensible on this matter.
I donāt know where you are from Singapore? Malaysia? the two countries have different banking system. Singapore is offshore which must be easier to bank in your money from New Zealand. From what I understand some people have open bank accounts in Singapore or Hong Kong easier for money to get in. I cannot reveal everything here why money changer?..Malaysia is quite strict about money going out and going inā¦investors must understandā¦money here is regulated and subject to law. Andy is doing his best to make arrangement so that everyone can receive their withdrawalā¦but people are still complaining, accusing him of running away with our moneyā¦he is a charitable person. I hope everybody understand. Regards to you. Thank you
So money changer agent is for Malaysian investors only, and people from other countries like Singapore got their withdrawal from New Zealand direct to Singapore is that right? Yes some investor get mistake filling their withdrawal details, these causes delay, as what agent told me, but why others that are correct get delayed also? I noticed that problem has started when EDGAR start changing its receiving bank account.
Yes I know Andy is a good man and wanted to help that is why he brought EDGAR here in my country. Iām just curious about the root of the problem. Thanks for your info.
PipsConqueror, Iām quite curious about the way you trade for a living, (trying to learn from people in the game). When you say no stop loss, I think that is a simplistic explanation. Everyone runs into situations where they need to deal with a loss. I can see that trading once a day allows you less chance of being caught in a big move against you while you are sleeping at night. But when your trade is going against you, you need to think about cost averaging (like our friend Andy did recently), or just closing it out with a loss - how many pips are you willing to suffer? I mean, taking a loss can destroy 3-5 days of profit from earlier.
Yes exactly. They make mistakes and blame others. And some people when they receive their money they keep quite and pretend not to receive it. Some people have very bad attitude and not grateful.You are also correct that some appointed money changer are for Malaysian only. I think for Singaporian it is from bank to bank that is why many clients open bank account in Singapore or Hong Kong where money is not restricted to come in. But in Malaysia it is different the Government control it stricly. Most of the delays are from Edgar sides like account not deducted, some are caused by the bank or the money changer themselve delaying to transfer the money deposited to the bank account of Edgar which investor deposited to open an account. When investor open an account the money they deposited doesnāt go straight to Edgar. Edgar help you to put the money in the trading account first while waiting for the deposited money to go to their account. When the money deposited is late in coming and when you withdraw it cause a problem because you have undisclosed amount of money in your trading account. Which means the money in your trading account belongs to Edgar not yours yet.Again there will be delay in deducting your trading account fund. So these are some of the problem that investors have to understand. Your agent must help you whatever problem you incounter. They must invistigate and let you know what causes the delay. Hope you are enlightened now. Thank you