Edgar International

[Confused]

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?

Hi Active Trader,

I am not involved with Edgar or Andy nor an agent or their clumsy 007. For your info, I cannot even prove I am agent or employed by Edgar or appointed by Eastern Rich even I wanted to. I am NOT going to challenge you to prove I am. Why are you so angry since you are not involved? Why accuse a victim if you think this is a scam? I can afford to lose all since I [B]mentioned before [/B]hedge fund managers only risk 10 % of their capital. I go to them if I cannot take Andy’s high risk and high probability of losses in the event of an earthquake. The last time I met Andy was Jan 2010.

Now he lost 65% in a quake you know it is mine money and why should your level of acceptance and tolerance become mine?
I know Andy’s weakness on the 2 session he traded before the recent one. He is NOT[B] 100%[/B] and I don’t consider him even 100% accurate on market direction. Hedging implies being wrong. Why not simply hold when market varies against his long positions if he knew the mkt is going up. Why combined with NS which is just the opposite of what he thought should be NB? If go criticising him like that many account holders will say I am envious of ANdy. Most traders know hedging is a technique one use when one is 100% wrong on the initial position and removing the hedge is not easy…

Are you trying to tell me a 100 % correct trader know when an earthquake is coming? Then all the insurance companies will pay him millions to work for them. Maybe he was in Japan then… conspiracies are all convincing.

Since Andy trade my account he is my trader who trade on my behalf. I can accept one wrong trade session in an earhquake compared to so many right ones. Others may/will not accept and it is their rights as different people have different level of profit or losses.

As far as I know Andy [B]ever[/B] made losses at a talk when he instructed participants to buy. Ya, right in front of everybody in that talk, made a mistake. Scaming this way is plain stupidity. My friend lost 80 pips following that advise but his account was rescued by Andy as the market reversed later. I thought maybe he was lucky then. Just fluke. To me 100% mean no need to hedge. You agree?

I agree with you Edgar should have automatically hedge. I don’t know about the iTrade system as I use MT4.
MSB ACCOUNTS saw no usage of 42% on 1st trade. MAB A/C were not risked up to 42% on 1st trade. I got these info from my friends who hold such a/cs. My friends SB and big AB accounts are still positive. Why don’t you try explain that? I want to see how they ‘scam’ us if true.

For your info, there are NS at 82.20, 82.01 etc in my friends accounts. You mean you audited all the 15000 accounts?

You made a good point that there is not enought margin to hedge for certain type of account. I am trying to figure out why Edgar did not hedge his positions. It is only possible that on the aggregate all the funds in all big medium and small acounts is sufficient plusI I [B]heard[/B] Andy had large deposits with Edgar as surety in the event customers default on margin call. I take that into consideration before I can criticise people as I cannot prove he did not have sufficient fund plus surety to hedge. But still you maybe right and I could be wrong.

The 2 previous session of hedging before the current one he could have lost money too and ease his way out of this ‘scam’ or conspiracy. Since he would not know when the earthquake was coming he would need more hedging losses and time to exit this ‘scam’ or make the scam more convincing. Why did he made profit then? I don’t mean you are wrong, my point is it can be argued both ways. Of course scammer can capitalised on the the earthquake but Yen go up in value despite the quake. I just don’t know how he knew that the Yen will go opposite. If he knew that he could have real money in real market, why scam to risk a cracked skull?

Actually, I am not aware that he never traded with Edgar or the trades were not real but put in a few hours later. Of course it can be done but I need something more concrete to be convinced. I like to be convinced on this one even though it will be too late to withdraw or nothing to withdraw. Really, my friends and I will appreciate this one and get on with lives without Edgar and Co. Thanks for the warnings.

[r104for]

Comfirm scam bb to all money. Now the agent say andy trade wrongly.

How to report this fellow?

[Sabahan]

Comfirm scam bb to all money. Now the agent say andy trade wrongly.

How to report this fellow?

I think Andy did not trade wrongly. He’s too gullible to trade wrongly. Even a gullible trader will not buy high and sell low. He planned it this way so that all accounts will be wiped out. Anyone think you can report him to local police? I personally don’t think so because there’s no jurisdiction in Malaysia to protect our account. Maybe abu-sayyaf way of handling can get some result.

[PipsConqueror]

Hi, Long time didn’t come in here as I don’t see any AllenLeow’s post. hmmm… I posted earlier regarding JPY will fall… but sadly not due to economic basis but due to tsunami attack. my friends in keningau told me that their account with EDGAR get wiped out due to the attack. my long term trade after the NFP, I profited from the USD/JPY fall… hit my target this morning. thinking of donating it to Japan fund aid. any idea???

[r104for]

I think Andy did not trade wrongly. He’s too gullible to trade wrongly. Even a gullible trader will not buy high and sell low. He planned it this way so that all accounts will be wiped out. Anyone think you can report him to local police? I personally don’t think so because there’s no jurisdiction in Malaysia to protect our account. Maybe abu-sayyaf way of handling can get some result.

I know he trying to cover up for all the money that he have scam. Anyone know how to report him?

[PipsConqueror]

please check your account with EDGAR… received many news from friends already some flotting under huge -ve pips and some MC already.

[Sabahan]

I know he trying to cover up for all the money that he have scam. Anyone know how to report him?

Go to local police station and ask from there how to do it.

[Kinabalu]

Hi Active Trader,

I am not involved with Edgar or Andy nor an agent or their clumsy 007. For your info, I cannot even prove I am agent or employed by Edgar or appointed by Eastern Rich even I wanted to. I am NOT going to challenge you to prove I am. Why are you so angry since you are not involved? Why accuse a victim if you think this is a scam? I can afford to lose all since I [B]mentioned before [/B]hedge fund managers only risk 10 % of their capital. I go to them if I cannot take Andy’s high risk and high probability of losses in the event of an earthquake. The last time I met Andy was Jan 2010.

Now he lost 65% in a quake you know it is mine money and why should your level of acceptance and tolerance become mine?
I know Andy’s weakness on the 2 session he traded before the recent one. He is NOT[B] 100%[/B] and I don’t consider him even 100% accurate on market direction. Hedging implies being wrong. Why not simply hold when market varies against his long positions if he knew the mkt is going up. Why combined with NS which is just the opposite of what he thought should be NB? If go criticising him like that many account holders will say I am envious of ANdy. Most traders know hedging is a technique one use when one is 100% wrong on the initial position and removing the hedge is not easy…

Are you trying to tell me a 100 % correct trader know when an earthquake is coming? Then all the insurance companies will pay him millions to work for them. Maybe he was in Japan then… conspiracies are all convincing.

Since Andy trade my account he is my trader who trade on my behalf. I can accept one wrong trade session in an earhquake compared to so many right ones. Others may/will not accept and it is their rights as different people have different level of profit or losses.

As far as I know Andy [B]ever[/B] made losses at a talk when he instructed participants to buy. Ya, right in front of everybody in that talk, made a mistake. Scaming this way is plain stupidity. My friend lost 80 pips following that advise but his account was rescued by Andy as the market reversed later. I thought maybe he was lucky then. Just fluke. To me 100% mean no need to hedge. You agree?

I agree with you Edgar should have automatically hedge. I don’t know about the iTrade system as I use MT4.
MSB ACCOUNTS saw no usage of 42% on 1st trade. MAB A/C were not risked up to 42% on 1st trade. I got these info from my friends who hold such a/cs. My friends SB and big AB accounts are still positive. Why don’t you try explain that? I want to see how they ‘scam’ us if true.

For your info, there are NS at 82.20, 82.01 etc in my friends accounts. You mean you audited all the 15000 accounts?

You made a good point that there is not enought margin to hedge for certain type of account. I am trying to figure out why Edgar did not hedge his positions. It is only possible that on the aggregate all the funds in all big medium and small acounts is sufficient plusI I [B]heard[/B] Andy had large deposits with Edgar as surety in the event customers default on margin call. I take that into consideration before I can criticise people as I cannot prove he did not have sufficient fund plus surety to hedge. But still you maybe right and I could be wrong.

The 2 previous session of hedging before the current one he could have lost money too and ease his way out of this ‘scam’ or conspiracy. Since he would not know when the earthquake was coming he would need more hedging losses and time to exit this ‘scam’ or make the scam more convincing. Why did he made profit then? I don’t mean you are wrong, my point is it can be argued both ways. Of course scammer can capitalised on the the earthquake but Yen go up in value despite the quake. I just don’t know how he knew that the Yen will go opposite. If he knew that he could have real money in real market, why scam to risk a cracked skull?

Actually, I am not aware that he never traded with Edgar or the trades were not real but put in a few hours later. Of course it can be done but I need something more concrete to be convinced. I like to be convinced on this one even though it will be too late to withdraw or nothing to withdraw. Really, my friends and I will appreciate this one and get on with lives without Edgar and Co. Thanks for the warnings.

I heard from keningau people that Andy was at a wedding function last Friday. He drank and did the sumazau dance. The tapai was very nice,sweet and tasty so he went on drinking untill he finished 2 small tajau of tapai. He even sang and contributed one popular kadazan song at the function to make the aramaiti atmosphere. He became so drunk and went back home. While at home he saw USJPY market going up so he put on the trade but unfortunately cos he was so drunk he click at the wrong position. His vision became very blur after the tapai session. He went to sleep and forgot about the trade. Later when he woke up and vomitted out all the tapai he suddenly realised he made a mistake in his trade, instead of the market going up it went down quickly so he lock it quickly because of the losing position. Of course he regretted the mistake. But he assured that everything will be ok, he can recover all loses. So keep calm everybody. Cheers

[PipsConqueror]

I heard from keningau people that Andy was at a wedding function last Friday. He drank and did the sumazau dance. The tapai was very nice,sweet and tasty so he went on drinking untill he finished 2 small tajau of tapai. He even sang and contributed one popular kadazan song at the function to make the aramaiti atmosphere. He became so drunk and went back home. While at home he saw USJPY market going up so he put on the trade but unfortunately cos he was so drunk he click at the wrong position. His vision became very blur after the tapai session. He went to sleep and forgot about the trade. Later when he woke up and vomitted out all the tapai he suddenly realised he made a mistake in his trade, instead of the market going up it went down quickly so he lock it quickly because of the losing position. Of course he regretted the mistake. But he assured that everything will be ok, he can recover all loses. So keep calm everybody. Cheers

hey, whats this? Hahahaha. Aramai tiii.

[Sabahan]

I heard from keningau people that Andy was at a wedding function last Friday. He drank and did the sumazau dance. The tapai was very nice,sweet and tasty so he went on drinking untill he finished 2 small tajau of tapai. He even sang and contributed one popular kadazan song at the function to make the aramaiti atmosphere. He became so drunk and went back home. While at home he saw USJPY market going up so he put on the trade but unfortunately cos he was so drunk he click at the wrong position. His vision became very blur after the tapai session. He went to sleep and forgot about the trade. Later when he woke up and vomitted out all the tapai he suddenly realised he made a mistake in his trade, instead of the market going up it went down quickly so he lock it quickly because of the losing position. Of course he regretted the mistake. But he assured that everything will be ok, he can recover all loses. So keep calm everybody. Cheers

Hey Kinabalu, what song are you singing here to??? You think we are Keningau children playing rocks? If Andy is so drunk, how did he manage to turn on his computer, key in password and make thousand of orders to purchase at the price of 83.09 and so on. For your info this price did not last long, some where between 3:50PM to 4:10PM, that’s right after the earthquake in Japan happened.

Now, I also heard many has requested to close account - one reason is Andy and Edgar probably have used up most of the fund throwing private parties and thus can’t afford to pay so he use this tactic to show everyone no more money left after NB at near high price and NS at near low price.

If he is sober this morning, why didn’t he login the profits for the NS when price is low and sell the NB at above 82.00? So Kinabalu, are sober when you post this quote???

[bestwishes]

I think Andy did not trade wrongly. He’s too gullible to trade wrongly. Even a gullible trader will not buy high and sell low. He planned it this way so that all accounts will be wiped out. Anyone think you can report him to local police? I personally don’t think so because there’s no jurisdiction in Malaysia to protect our account. Maybe abu-sayyaf way of handling can get some result.

Hi Dear,

What is Abu-Sayyaf way?

[Confused]

Hi Active Trader,

Thanks for summary #3. No need to give something concrete. Hope you understand I used an adverserial approach to gather info and you gave without getting money. My friends are my concerns now even though I m no agent. I emphatise with them.You have served for no monetary gain. Tks. No more comments. I will be back to my trading. Wish you success.

[bestwishes]

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?

Hi ActiveTrader,

I have to agree with you that most of the client may have an intention of greedy before to joining Edgar. However, how can you or some one to avoid the tempatation to earn a substantial profit from a “managed fund team” in short time. I think this is always a dream for everyone. I don’t think we should let client bear this disaster by themselves, actually most of the clients who joined Edgar due to trusting the introducing agent who are very closed to them. For me, I still prefer to put all pressure on some one who originally plan to scam other people. As for client, they have limited information to make decision before joining Edgar. Why don’t we just help them and advise them the next step? A statement of “a lesson for future” always will be the conclusion, before we jump to this, I think client still have plenty ways to get through this. Cheers.

[hanwonsoo]

walking walking around Keningau today…very pity to the kampung folks and edgar hardcore followers… They think that Andy will pump up money to their MC account and do some miracle to make their account back profitable position…Andy are you going to pump up the money to all the Mc account…you pump la…since its just dummy account it wont cost you a single cent. Make all the kg folks happy again…when come to withdrawal…just delay delay ma…you know the kuntau right… when our account back to normal…more people will invest and you will be more rich than george soros… ha ha i’m singing in the rain…bye bye my 1000usd

[bestwishes]

I heard from keningau people that Andy was at a wedding function last Friday. He drank and did the sumazau dance. The tapai was very nice,sweet and tasty so he went on drinking untill he finished 2 small tajau of tapai. He even sang and contributed one popular kadazan song at the function to make the aramaiti atmosphere. He became so drunk and went back home. While at home he saw USJPY market going up so he put on the trade but unfortunately cos he was so drunk he click at the wrong position. His vision became very blur after the tapai session. He went to sleep and forgot about the trade. Later when he woke up and vomitted out all the tapai he suddenly realised he made a mistake in his trade, instead of the market going up it went down quickly so he lock it quickly because of the losing position. Of course he regretted the mistake. But he assured that everything will be ok, he can recover all loses. So keep calm everybody. Cheers

Hahaha, Kinabalu,

This time you are more creative compare to AllenLeow. I just surprised that you didn’t mention animal this time. Andy get drunk? What a men, that you are. You are truly a storyteller, what’s next? I really interested what you come up next.

[bestwishes]

Go to local police station and ask from there how to do it.

Hey,

Report to police is one of the option. However, you should have prove that Andy and Jerry on the run. Secondly, did you make your account information documentarise before you talk to police? Thirdly, are you a single person to make such report? Then, who is going to believe you?

The best way is gather as much as possible information as you can, then request your Agent to run an Agent meeting in Sabah. Then, unite everyone in one course to organise this one shot report action. Never make police feel that you guy just telling story. As we know Sabah police always not that responsible on Commercial issue? A collective action will force them take action on investigation. Don’t delay your action after Andy and Jerry leave Sabah.

[bestwishes]

Wow…Hmm… the way I look at it, Mr Mutalib seems to be really professional in his statement. but then, still, MasterAsia’s comment even make sense. I also doesn’t see this forum as pointless as these is the place where we can share an open mind so we can judge our self if we made the right investment or not. clearly I see Mr.Mutalib doesn’t seems to understand the “regulated” status. pointless to say much… how can we report this matter to the authority??? any ideas??? let the authority deal with this matter even better… what you guys think??? afterall talking here without action is pointless… let us do the report… anyone can assist me on where can I report??? because, my cousin still… didnt get his withdrawal and this is not good.

Hi PipsConqueror,

2 months ago, Your quote back to 1/15/2010 was proved that you have foresee this chaos come to the end this day. However, client may still reluctant to accept the fact that Edgar story was ending in a sad way. How can we help? Sigh…

[Penampang10]

Hi Active Trader,

Actually, I am not aware that he never traded with Edgar or the trades were not real but put in a few hours later. Of course it can be done but I need something more concrete to be convinced. I like to be convinced on this one even though it will be too late to withdraw or nothing to withdraw. Really, my friends and I will appreciate this one and get on with lives without Edgar and Co. Thanks for the warnings.

Confused, Active Trader,
I could confirm that Andy never traded with Edgar and not trade under real time but merely an updation. I have two accounts with Edgar. Many times I observed whenever if there is a trade, one of my account is being completed updation with profit while the other will still be in the process of updation and the updation will only completed after 1 or 2 hours after the completion of 1st account i.e., they are not synchronized. Like Active Trader said high chances is the 100% profit records is highly being updated after a few hours after looking into the trends.

Having said that, Andy knew the market went down significantly few hours earlier due to Tsunami and and had the opportunity to crash the account and it’s high time for Andy to wipe off everything and say bye-bye to everybody.

Monday afternoon many clients went to Eastern Rich Office ransacked the office and grab whatever available in the office. Everything is gone and even the police officers were involved in the afternoon drama.

How could everything just gone in just one trading? Now, i m convinced this is a scam! The mafia is now after Andy n Jerry. You asked for it!

[Penampang10]

Hahaha, Kinabalu,

This time you are more creative compare to AllenLeow. I just surprised that you didn’t mention animal this time. Andy get drunk? What a men, that you are. You are truly a storyteller, what’s next? I really interested what you come up next.

Bestwishes,
Agreed with you.

[Confused]

Confused, Active Trader,
I could confirm that Andy never traded with Edgar and not trade under real time but merely an updation. I have two accounts with Edgar. Many times I observed whenever if there is a trade, one of my account is being completed updation with profit while the other will still be in the process of updation and the updation will only completed after 1 or 2 hours after the completion of 1st account i.e., they are not synchronized. Like Active Trader said high chances is the 100% profit records is highly being updated after a few hours after looking into the trends.

Having said that, Andy knew the market went down significantly few hours earlier due to Tsunami and and had the opportunity to crash the account and it’s high time for Andy to wipe off everything and say bye-bye to everybody.

Monday afternoon many clients went to Eastern Rich Office ransacked the office and grab whatever available in the office. Everything is gone and even the police officers were involved in the afternoon drama.

How could everything just gone in just one trading? Now, i m convinced this is a scam! The mafia is now after Andy n Jerry. You asked for it!

Thanks Penampang 10. I hardly analyse my accounts. Do the print screen or print out the page that show traded lots,price,equity etc NOW.[B][/B] These are vital records just in case a whiteout occur and all records dissappear. You may not be able to prove the sequence unless there is a clock/time indicated but just prtsc and save. There is something else in there. April has yet to come.

Unregulated mean like black market 4 Digit and it is not necessarily a scam because they may still trade in the real market using other fx Co platform. I don’t easily believe people will make many people millionaires without a profit sharing based on an initial capital of $1,000. As long as they pay prizes people can or may accept. Even some regulated ones have many complaints looking like scam or cheats too.