I’m a newbie here. I’ve heard about FX for quite some time now.
I have this friend of mine who have been trading FX for like 3-4 years, and he is offering to invest under him? (my account is my name, but he will help to do the trading).
He suggest starting investment at USD 300 @ 1 lot. He said to be able to trade maximum twice a week with minimum 15 pips profit per trade. Accordingly within 3-4 months the invested money will breakeven.
He is trading using Edga International.
What do you think guys? is this ok or I can only trade by my self?
Allvy welcome to babypips. If your friend wants to trade for you and is willing to show you exactly what he is doing than why not. In the meantime why not check out our school here. It is a great foundation to learn forex and continue to post your questions because everybody is friendly and we don’t mind giving our input
This friend of mind seems to be a big name among the locals here. He has many account and 1 that he showed is trading around USD 300K. To us in Malaysia, that’s close to million @.@
Looking on his history in the past 2 years it really looks promising, but anything can happen rite?
Yeps, he is trading 300 USD (investing it) with 1 lot. According to him, once reach 900 USD then I can choose to open 3 lots or withdraw the money and restart again.
He is with Edgar International ~ anybody familiar with this trader?
Based on ur comments, I think I will give it a go on the minimum investment, maybe by today.
Anythng important I need to check out before making the leap? ^.^
My friend is currently outstation (in HongKong), he can be contacted but he is pretty busy with this schedule over there. He will be back to Malaysia within 2 weeks and once he is here I will convey your message to him. Im pretty sure he will be glad to accept it.
This is obviously a bad idea. First of all, when trading a full lot with only 300 dollars to margin, you risk margin call. Also, have you ever wondered why sombody trading multi-millions would trade your 300 dollars? This guy is either lying about his other clients, or hes running a ponzi scheme, either way its bad news for you. Even if this guy was legit, why use him? You can trade the money yourself and stay in control of it.
This post smells of advertising/scam from the get go. :mad:
Real posts don’t mention Brokers or Investment firms in their first post.
He is trading using Edga International.
What do you think guys? is this ok or I can only trade by my self?
People who haven’t posted before don’t jump in and say
Can you give me your friend’s details please cos I am also interested in joining! I must say USD$300 is very little to risk/lose for potential good reward.
Good lord, why am I even responding to this? What makes Babypips great is that it is free (mostly) from this sort of stuff. I don’t even bother going to other forums anymore for all the bots, books, training and schemes they try and hock.
Anyway, thats my thoughts on that :rolleyes:
Apologies to you 2 chaps if I have got this wrong.
Agreed, its most likely a scam. Also, the broker he mentioned, Edgar International, offers a maximum leverage of 100:1. This makes it impossible to open a standard lot with 300 dollars as he previously claimed. Unfortunately, these forums have been filled with spammers lately.
I posted some info which had been held off as it is deemed to be an advert. hopefully the moderator will revert the decision. I will advise you to hold off investing until you read my post.
I have done much research on this company…actually it was similar situation to you. My friend wanted to invest and ask me to check it out.
anyway, hopefully the moderator can release my posting in the next 24hrs. if not, 24hrs can’t really hurt you, right?
by the way, any chance your friend’s name is : Andy or Ricky
Thanx for your comments and suggestion. I have already made a small investment with the company… However, your information on the company from your research is very much welcomed. I look forward to it.
So ActiveTrader, how long have you been trading currencies and what brought you to the forum?
I must say USD$300 is very little to risk/lose for potential good reward.
So generally what is your risk appetite like? I see you’ve visited the site today, so do you have any trades on at the moment that you are monitoring?:rolleyes:
So what other research have you done? Done any interesting back testing on strategies? There’s loads of great trading books out there, I’m sure you would have come across them with such an avid interest in trading, the problem I have is tying everything together, especially when you’ve got really interesting views from authors like Taleb and du Toit with different ideas on trading.
Do you often feel like you start trading a short term strat and when it goes against you you switch views and see it as a longer term trade in order to justify your views? Ever been taken out the back door by one of these? I’m sure most of us here have. :rolleyes:
I see you’re still around. How’s the trading going? You know you could learn a lot about trading and your trading personality with that $300 in a micro account?
How has you’re trading gone so far and what has lead you to look into getting someone to invest for you? I know I’ve had the dream, like most of the guys here of trading full time for myself one day, and even perhaps managing an account for someone else. I’m guessing your somewhat more risk averse then?
Whats you feeling on the markets at present? I see you’re in Malaysia, how do you see the potential yuan appreciation affecting the Asian region? Will this make production perhaps move from China more to its neighboring countries? I’d be interested to know.:rolleyes:
