my new futures website

hey folks,

I am currently working on a new project. It's all about futures trading. Check it out Futures Trading Guides

New home

Due to a bigger interest in FX trading, Karloz's blog now has a new home. http://www.forexpm.com Check it out :-)

Joyfund

Well, What can I say? January was terrible. I understand the figure to be -40%. This is disapointing but in all honesty not all that suprising. As I outlined in previous posts I knew trading options on margin this way was extremely risky and a big drawdown at some point was highly likely. I only exposed a small amount of money for this reason. I hope nobody had large amounts invested. I have decided to pull out and take the loss, I will probably put the funds into my own trading, which never gets such drawdowns.

Joyfund

Well, Joyfund has had an interesting past few months. I considered Joyfund to be high risk from the start and expected big fluctuations in the monthly figures and haven't been suprised. It might be one of the best opportunities around at the moment but it is very high risk and certainly not for the faint hearted. The trading is risky and of course there is the fraud risk to consider. Unfortunately, I understand the December figure is negative, -2.55%. One of the problems I see with Joyfund is the mass of fees one has to endure. The trading itself is risky, but if you have to pay large fees on the profits, they have to be considerably more than the losses for your account to break even, let alone turn a profit, then consider egold fees etc, which clearly makes it even riskier. I feel going through a 3rd party that also takes large fees, such as feederfund makes the investments too risky to consider. It's probably wise to treat Joyfund as you would a typical "ponzi hyip", in terms of getting your principle spend out as soon as possible. The trading still has not really proved itself in the longer term, so if you like a gamble, it might be worth a go. I understand the minimum to go direct is now in excess of $5k, however there are pools around other than feederfund.

Joyfund

A disapointing month for Joyfund. I understand they were -7.5% for September. This is no cause for concern at all in my opinion. They are engaging in high risk commodity trading so a negative month was very likely to occur at some point. Hopefully they will recover without any problems.

FX-Experts

If you thought things were bad before.. they just got a whole lot worse. I understand Marcos claims the trader managed to lose 50% either in one single trade or a very short time, either way this is just ridiculous. -50% is just plain irresponsible. It seems to me that neither Marcos nor the trader has a clue what they are doing.

If we are frank here, FXE was destined to failure from day one. The program paid 14% per month and as I said previously, the trader needed paying and Marcos needed paying and of course there was the referral program so the trading had to earn at least 20%, probably nearer 30%, they attempted this with very high leverage which worked at first because the trading was going well, but all traders no matter how good they are have a very bad patch at some point and with the insane leverage FXE were using it was inevitably going to finish them. From reading the forums it seemed clear that people were upset that the program failed despite "good DD" being done on them. I personally never saw any good DD. I saw people claim to see their trading account and see a couple of months of good results using irresponsible amounts of leverage but I never saw any risk assessment done on the trading, I never saw anybody comment on the high level or leverage and risk they used.

Many people seemed to think "oh, cool, they are trading it must be worth putting money in" unaware that most traders lose money and most traders who use high leverage lose a lot of money. Simple "proof of trading" with no significant past history (at least 6 months preferably with one brokerage) is more or less worthless and add no real risk assessment then we have nothing, no real DD, nothing. FXE was a disaster waiting to happen from day one. If I was more knowledgable when I started I would never have invested in this "disaster waiting to happen" program. As soon as I learnt, I got my money out. I hope people learn from this. A real forex hyip paying 14% per month consistantly is a "distaster waiting to happen" program. If they could earn enough to sustain a 14% per month hyip, they sure would not want the hassle of dealing with $100 egold hyip investors! This is why there are no real forex based hyip programs that have paid in excess of 14% per month that have lasted in excess of two years.

My hope is that FXE refund peoples money. If Marcos wants to play irresonponsible games with large amounts of money, it seems highly unethical that it should be at other peoples expense.

NSFG September Result

Another solid month for NSFG.. 5% gross. I understand they were up a little above the 5% but then later lost it to the market. Lets see how October goes.

NSFG Update

Great news for NSFG. I understand they are now over 5% up so we have a guaranteed minimum of 5% for September, Great stuff guys.