MegaInvestForum update

Oh dear, I do have some bad news to report. On the 8th August a disastrous position was opened. 20 lots on the usd/chf pair. This was using approximately 40:1 leverage. The trade went 137 pips the wrong way. The result, horrendous drawdown, just less than 50% in one trade. In my opinion there is no excuse for this at all it is just irresponsible, especially considering they are managing tens of thousands of other peoples money. I understand the admin is going to cover some of the losses on this occasion. My concern is if the account grows bigger and we are faced with a similar issue. It would not be so easy to cover the losses from his own pocket. I have not joined this program as I employed “wait and see” strategy. There are too many bad traders out there for me to invest blindly, as I always say, it is believed that only 5% of forex traders make returns consistantly. Will MIF be one them? Only time will tell.