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Open letter to EricB

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  • Open letter to EricB

    Eirc,

    First I want to apologize for maybe getting a bit too defensive of this site and the other traders, but I know Nick personally and have established a rapport with most of the team traders here. I can assure you that they all have you and all the other subscribers best interest in mind. This is not a "fly by night" operation. We are all in this for the long haul. If we as traders and Nick as our "Captain" can't put together a successful team then LFT will ultimately fail. None of us want that. You being a computer guy must have some idea of what Nick has invested in putting this all together. He out of all of us has the most at stake here.

    I can understand your frustration. Trading forex with a small amount of capital can be very frustrating and not having control over your funds even more so. However, second guessing the traders or questioning Nicks integrity is counter productive. It's not going to erase your losses or change the way we trade. Loosing is a BIG part of this game. And guys with a small amount of capital to work with have the odds stacked against them from the get-go.

    I'm asking you PLEASE let the traders do their job, and refrain from questioning the integrity of this site. You've been here a while now. I'm not saying to leave, but why are you still here feeling the way you do? If I was in your situation and had your temperment (and I dont say that in a negative way, we all have differernt temperments), I would consider a PAMM with someone like Viper who is ultra-safe. You wont have to worry about overcoming the cost of the signal and can let you money build. In the meantime, take the $99 a month and sock it away for a year, then add that to your PAMM or use some to "risk".

    When I said I wish you the best, I was not being sarcastic, I meant it. I want eveyone here to make money and realize their goals. A positive atmosphere benefits us all. Let's try to keep it that way moving forward, deal?

    Happy Trading!

    Joe
    "The trend is your friend - until it bends at the end"

  • #2
    I accept and I know you were not being sarcastic.

    I have loads to say more but it doesn't constitute any thing at this point. My account has been blown less than $390 left. Viper should have stayed and obeyed his rules, I know and he's stated before he was in that position before and said not to worry. 3 time wasn't the charm it was a burn. I would stay and play but I can't......


    Thanks
    DETACH YOUR MT4 CHARTS Now Available. - Trading as a hobby is realistic.

    Comment


    • #3
      Sorry to hear that Eric. I hate to use the term "luck", but man you seemed to hit AMP, Smart Trader, and Viper at the most inopportune times. Hopefully you dont give up on your goal of making some money in forex, there is money out there to be made, it's just very, very difficult. If it's any consolation, and if you have read my other threads, a couple years ago, I "challenged" myself to make something of a $100 account making conservative trades of 1 microlot, and being disciplined. Agfter 9 months I was up over 700%, which is stellar. That same account is now under +200%. Sure 200% in two years is still a great return, but I'm down over 70% from my peak, which is not stellar.

      Now a good portion of the recent draw down was due to me trying to follow my master account that I use for the signal at what works out to be over 10X due to my small account size. My master signal account is +.5% after taking a drawdown from its peak. My little "slave" account is DOWN OVER 50%. in the same period. Now I really don't mind the loss too bad, what I wanted to get from that "experiment" was information. I can now confirm that trading my signal at 10X is suicidal, regardless of how "safe" the signal is for those with larger accounts trading at 1 or 2X. It only took a minor draw down on the master to crush my little account. I can now pass a first hand warning to keep risk at 4X or less, or you may be in for a huge disappointment.

      Statistically trading a small account with high leverage, you have about a 90% chance of loosing all your money within 6 months trading forex. But don't be discouraged. You seem to be very passionate about this. Dont give up. You may want to try trading your own account, taking the free signals here and keeping a tight reign or your positions size and stops.

      Anyhow thanks for accepting my apology, and best of luck to you moving forward

      Joe
      "The trend is your friend - until it bends at the end"

      Comment


      • #4
        Money is the only thing i think about. Im addicted to losing it and getting it. Breakeven kinda guy but some times i make it better long term anyway ihad this long message before i got a phone call on my cell . Onthe road ga to pa 6 hours left
        DETACH YOUR MT4 CHARTS Now Available. - Trading as a hobby is realistic.

        Comment


        • #5
          Money is the only thing i think about. Im addicted to losing it and getting it. Breakeven kinda guy but some times i make it better long term anyway ihad this long message before i got a phone call on my cell . Onthe road ga to pa 6 hours left

          I used to feel the same way about poontang when I was younger, but I learned the prize really isn't worth the price...not that I am considering switching teams or anything like that....heheheehehe. Have a safe trip!

          I know I am supposed to keep it classy ladies, but I couldn't resist, it's all in fun. Eric took a beating on some signals and the least I could do is (hopefully) give him a good laugh.

          Happy Trading!

          Joe
          "The trend is your friend - until it bends at the end"

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