Edgar International

Beginner Questions
1015

Hi Kinabalu,

I thought you are deadly loyal to Andy & Edgar, and now finally you admitted that “BAD NEWS” was disclosed during the meeting. Then, why don’t you just publicly announced it here. I think the client who often checked with this thread will not find something new from Edgar. :wink:

1016

Report to the police. It may need a collective actions by a group of victims, but not merely couple clients provide evidence and verbally report. You guy may need an organized plan to execute it. That’s what I was mentioned before back to Dec 2010, Edgar client may need a backup plan other than just waiting and be patience.

1017

Hi ActiveTrader,

Are you a client of Edgar? Due to your professionalism, I may suggest you team up with Penampang10, and Redhero to prepare a feasible plan to comfront this issue and gather all victim to avoid too late to respond this financial tsunami in Sabah before Andy and Jerry flee from Sabah. The game is over according to an insider from Edgar.

1018

Dear All,

Once again, this thread has proved again that the non-Edgar supporters side is won the debate against those financial fraudulent company. All the positive commenter like Solai, AllenLeow, Mutalib, and Kinabalu, have nothing to prove that it was worth to wait and be patience. Since I and other non-Edgar supporters provide criticism here back to August 2010, have accurately predict Edgar is a scam and won’t survive more than 1 year. It is sad that, our prediction came true. However, I hope you guy take action immediately to respond this issue to avoid deadly lose on both your money and dignity. Good luck to you all.

1019

Go wake up all your agent. Tsunami continue alert to every investor, don’t become a dream chaser anymore if not ever received any single cent since investment last year. This is the 3rd week end we hv suffered, a lot problem and conflicts still being unsolve. The management of Edgar & eastern rich remaining silent… Why still waiting for?

1020

good news and bad news should be revealed here for the benefit of all who haven’t attended. is it part of the meeting that everything discussed shouldn’t be revealed here?

1021

hi how are you all i a new person posting also involved in edgar international same as everyone cannot acess accounts the server is offline pending withdrawal 20000 still not in account yet and 15000 applied but not even deducted
wondered if going to see any money after this

1022

so am wondering if edgar has shut down and our money all gone
and what type of action can we take against them

1023

[quote=“bestwishes,post:1015,topic:34623”]

Hi Bestwishes,
The bad news is that your 3 accounts with Edgar won’t be traded anymore. You are given a choise to trade it yourself or close your account. Just spoken to Andy that he may removed it from his software. So that is one very bad news for you. The good news is that the rest can enjoy their account being traded and their withdrawal problem will be solved soon.

Bestwishes can form her own team to sue Andy cos her account is no longer being traded. hahahaha!

1024

Based on the trades provided by Jaysonsoetrino viz., NB at 82.85 and NB at 83.09 and NS at 81.93. I think the sequence should be 1st Nb at 83.09, 2nd NB at 82.85 and then NS at 81.93. Both NBs should be between 3:30 pm to 4:00 pm Malaysian time (assuming GMT is 8 hrs behind Msian time) based on Andy’s method. The NS occurred either at 7pm to 730pm or any time after 1130pm Msian time. The NS[B] IDEALLY[/B] should have come at -20 pips to -40 pips from from NB 82.85 ( 82.85 - 0.40= 82.45) following his method but in an earthquake market move down fast and so it is very difficult to get the price one want. All NS will queue up long in fast falling market and prices will vary from pending order prices.

Both NB lost 100% of its margin advanced for trading. But the NS made 13 pips at market closing price of 81.87. I am not quoting itrade numbers. Overall total lost is 65% or 195 pips. I am using $300 as basic unit (example). Normally fx company can issue a margin call ie top up margin when losses is <=70%. The alternative is one hedged one’s positions or the fx co hedge them.

I am NOT an agent but I say your account is not wiped out. Still 35% left based on closing price ie last traded price on Friday. Closing price is what fx company used to calculate call margin.

Note when one trade an NB one advance 100% of the required margin but When one hedge by doing an NS, usually only 50% of that margin is required. So another NS can still be done. So far only one NS is used to hedged against 2 NB.

In such situation, traders do not make withdrawal. If market drop further or another eartquake come, another NS has to be done to keep losses at a constant level till normal trading resume or market return to normal .

Forex is[B] HIGHLY [/B]leveraged. So big profit can and will come with big losses. It is normal. Any agent buying me lunch for service just rendered? Er…er…er… better to remain unknown… Unless it is not a scam then my comments are relevant. However I wish everbody well in this hard moment!

1025

Hi Confused,

I see your calculation, however, I believe your assumption of $300 is wrong, I take that to mean 33.33% margin of account? Next, you need to divide the number of pips by 0.8187 to get back to the account which is in USD. PipsLoser, I know you can’t log in but can you re-check the figures? Did you take a print screen or something? Because I believe the NS to be wrong.

Let me calculate using 42% margin, which I think is more accurate, & ignore the NS, but keep your closing at 81.87. Take a USD$10,000 account. First trade 42 contracts, second trade same so 84 contracts at average buy (83.09 & 82.85) at 82.97. So 82.97-81.87 is 110 pips. So 84 times 110 = 9240 divided by 0.8187 equals $11,286. Means investor owes Edgar $1,286.

Confused, do you think it is strange that iTrade did not hedge much earlier? Why are you trying to defend iTrade by talking about fast falling market? Doesn’t the chart show that the U/J was hanging around 82.10 to 82.40 for a few hours? I’m not asking for your opinion because I know exactly what my broker would do.

1026

Guys,
Would anyone believe me if i say that, we have been directed to a dummy screen or a dummy website when you access your account? It happened before and it can happened again this time!!
Check my earlier posting on this kind of “Modus Operandi” involving the same con artist doing the same old scam. The only different this time is somebody promise gonna fry him in his own oil!!!

1027

1.I said I did not based on Itrade numbers so I wasn’t defending Itrade since I have never quoted its figures from the beginning. I used another fx co so that people can verify whether Itrade figures are even representative.
2. Yes my NON itrade chart showed market hanged around 82.10 to 82.40. Your broker I assumed is the fx co not the trader can intervene and hedge pending top-up margin. Edgar, however may give certain leeway to trader. However, my trader was understandably having a bad trade because $ was suppose to go up and Yen plunge like its Stock market. If my trader is good in reacting so fast then he would be working in the top 10 banks & NOT for me. I also wondered why my trader did not hedge then. But then I thought, judging after the fact is easy so I reserved any critique so that I won’t err prematurely.

Had he done NS only( no NB )at 83.09 making people dreaming to the banks it will placate many about Edgar withdrawal problems. I always have problem with conspiracy theories.

  1. To me the 8pm and 9pm hour bar showed sign of rebound whereas the 10th hour bar was uncertain. Who know it gonna drop further after 11pm . You know? Wow! Just 50/50 is also not that easy for me to predict. All time quoted are msian time. To me to hedge after 11 to 1130 is acceptable given the situation.

When you asked me:" do you think it is strange iTrade did not edge much ealier?" I m really confused bcos when I answer the question it is my opinion/statement but you are not asking my opinion. Well… To Answer or Not Answer? So let me say something silly about 8pm n after. I was having After 8 chocolate.

  1. I do not used average(82.97) like to arrive at 110 pips loss. I calculate it one at a time. Like you said, I ignored NS. You will arrive at a total lost of 220 pips. 83.09-81.93= 122p. 82.85-81.87=98. 122 + 98 = 220 pips. See the danger of me using average to do calculation? One can forget to multiply by 2. Anyway, I make mistake too.

  2. My $300 is the minimal capital. Since Edgar required $100/ lot. 100 pips loss will wiped out this $100 margin/lot. By the time Andy hedged there was a lost of $208 so he still had $92 to hedge. However hedging required $50 margin. This $50 margin made $13. So -208+13=-195. Still got balance of (300-195) = 105. I am not sure about other fx. I based on Edgar margin requirements. Correct me if I am wrong as you know I am confused fella.

Thanks for showing the .8187 xpips approach. It 's good. I am not being sarcastic. It’s a valid appoach. i like your reply as you make think again. You sharpen me. Hope I m good enough to benefit you.

1028

Earlier I misquoted 83.09-81.93 =122p when it should be 83.09-81.87=122p. In your case, the NS is doubtful…if done after 2 NBs…r using 42% vs 33%. For the NS to be valid it must be done before the NB ie at 81.93. Do you have the sequence of the trades? Time of when the trades were done? That will be helpful. I cannot access that’s why I used Jaysonsoetrisno figures… .

I better z…z…z…z… scam? Not scam? Too late to withdraw? i will still sleep soundly. My mind clearer… later not so confused… Good Luck Active Trader! Tks.

1029

Dear Active Trader,

I was able to log in b4 itrader got offline. Here’s a snip of NS alone.

1030

[quote=“Kinabalu,post:1023,topic:34623”]

Hi Kinabalu,

You wrong again! I don’t even have a dollar with Edgar, did you put it in for me? You are so nice. Stop trading for me from Andy? You are kidding me. I never assume Andy make a true and sound trading, he don’t have that ability to do trade. Anyway, thanks for your caring, I always trade for myself and never bother Andy. Why you care? Hahaha.

Oop. Please do not hurt your client, the 3 accounts that Andy’re closed may probably you best client ever. Don’t hurt innocent client, I will laugh it cause you have wrong victim. Hahaha. :cool:

1031

Confused,

I say you must be involved with Edgar and Andy somehow, why don’t you tell us how? You were trying to say that losing 65% of your whole account in one trade is OK, still got 35% left. You are not agent, but higher than agent?

Lets look at your points:

  1. Nothing to say.
  2. “My trader” means Andy? Andy is your trader? Andy works for you? Are you Edgar or what? Hey, lets look at Andy’s record. As far as I know, last year 2010 Andy has never lost a trade. Now you are trying to defend Andy by saying if he is so good … and judging afterwards? “dreaming to the banks” - Andy normally only take 15-16pips profit.
  3. You are trying to say who knows where the market is going to go? Listen man, for a 100% trader like Andy, is it too much to ask that he know where the market is going?. Even if he doesn’t know, the platform iTrade should have automatically hedged by making 2 NS at around 82.70. No questions asked, that is what iTrade should have done to prevent account holders (ordinary traders) from blowing their accounts, because who is going to pay the market if a trade goes wrong? All brokers need to make sure that they are not responsible to pay the market if a trader makes a mistake by collecting margin first.
  4. Yes, you make many mistakes. Loss is 220pips, NOT 208 nor 195pips.
  5. I totally don’t understand this calculation. Where did $300 come from? How does it relate to pips? No mention of number of contracts? Why don’t you try attacking my calculation?

Summary is like this:

  1. The last 2 trades Andy tried to crash investors accounts in real time but did not succeed. First time, he cost averaged at 40 pips down, and eventually was forced to take a profit. Second time, market moved 60 pips against him, then recovered and once again, he was forced to take a profit. Third time, on Friday, with the help of the tsunami, he saw a >150pips move in one day, then put this loss trade into investors accounts after midnight.
  2. Why is it that just before the announcement for withdrawal, investors lose their whole account in one bad trade? Trading is normally like - you win some, you lose some. A normal trader who lose 2-3 times in a row should still have at least 70% of their account, then there is time to re-evaluate, and in this case, for investors to call for a trading halt, but it never happened like that. Every cent gone in one bad trade. How could this happen with a 100% record trader?
  3. All brokers never allow an account to go into negative equity, because if they cannot get the account holder to pay what they owe, then they have to pay the market. The market demands payment immediately! Thats why theres always upfront deposit and insurance for that (if you want to be a broker). What kind of broker is Edgar which allow 15,000 accounts to go negative? Where is the money coming from to pay the market (with accounts in the red)? Unless iTrade is just a demo account and never connected to the market. All trades were never real because all put in a few hours later. Sure Andy used to trade in the past, knows how to trade, teach trading, but with Edgar, he never traded.
  4. If you try to say that the Friday trade of NB83.09, NB82.85, NS81.xx never happened, how could iTrade make such a mistake? I know at least a few people who saw it, did they all saw the same mirage? Confused, why don’t you just try to answer these questions instead of making new comments?
1032

What a forum thread…980 and it still counting…

what you guys are commenting and complaining here!!! come on…the very basic thing that we all should know that Forex is not suitable for every people. if you lose your money that is YOUR MISTAKE!! the rule of thumb in this game is only gamble the amount of money that we are willing to lose, period…dot!!

why blame Andy or Edgar? Win or lost is the nature of this kind of investment… high return comes with high risk. if we cant grasp this idea then dont jump into this investiment.

for the withdrawal issue, i expect that will happenned with this kind of management. do i have money with Edgar?? Yes, im an investor myself. But i only trade a chunk of money that i am willing to lose with them because i have sensed something is not right about Edgar, but just cant let the oppurtunity passed me by. I invested USD1000 with a clear mind that if Andy not doing well and the money is gone, i will not cry over the money and my life still continue as usual…

have we all forget the wise man say that never put eggs in one basket?? divide your portfolio into several portion…low risk and high risk…if you put them in one portion …and suddenly bad happenned…that is your mistake. we all responsible for what we did…dont point finger to other parties.

and for the rest of non-edgar supporter. I just wondering what exactly you are trying to achieve? put the broker into jail and all these problems will be solved and no more such scam will happen again?? how many time we have heard this kind of story happening after one and another? and have they got their money back…some maybe yes, but most of them no. do you still think that is right solution?

think again…

1033

Andy is not a a real trader and Edgar is a scam. This is a fact we dont have to debat about it.

Yet i i do know people were willing to invest because the return was great, some who invested late missed the boat i suppose. The earlier investors I belive would have made heaps of money. I pity those who still have captial in there, but like the previous post every investment is a risk. There is no free lunch in this world, the question is if you hve joined the queue late.

Anyway, the way Andy is doing the " trading" now, you will be sure he is preparing to make big losses in the trading account, we should not blame a real trader if we loss money, but if they trader is PURPOSELY trying to loss your money, i think investors have the right to be upset.

Unless #Edagr and Andy decide to start allowing withdrawal, i think investors are getting agitated. Seriously its highly unlikely the money will be made avaialble like previosu years

1034

wisestill,

I must admit that I completely agree with you. Do you want your USD$1000 back? No, let Andy keep it, he needs it. Jail Andy? come on, how could all these God loving people think about such thoughts? No way. OK. For those people who have put all their eggs in one basket and invested more than USD$100,000, by now they should’ve learnt their lesson, and move on with their life, just just don’t repeat the same mistake again in the future. Really, these people should’ve been more careful with their money just like you did. You are so wise like your name suggests.

So, if Andy wants to scam other people in the future, that is his choice, people should not criticise him for it. Actually, it is those people who let him scam them, they are the ones who deserve to lose their money, they should’ve known better. Its all their fault.

I’m sorry to upset you, force you to come out and write something on babypips for the first time. Did I get it right this time, sir?