Wednesday, December 4, 2013

Managed Account Scam or bad luck ?

One of my friends made the sad experience of losing his money by entrusting it to a person who proposed to manage money on a forex account.

The person that I know a little, does not have his first victim and I've heard of another person who was caught in the same situation without being able to have an explanation .

Can we talk of scam or just bad luck?

Many people dream of making money and some uninhibited people offer their so-called talent trader to offer their services.

How are things going ?

First, you meet a person chatting on a daily announcing astronomical performance above 100 pips 100 pips there and you naive little you start forex trading , you are in awe of its results without imagining that you are falling into a trap.

More the person is super friendly with you and is willing to help you, advise you, give you a technical indicator , finally all the help you need to maybe one day get to do as well as him.

You are put in trust and the person offers to train you in forex and discover the secrets of trading by asking 800 euros. You agree that you will finally be able to make money ....

Once training is completed , you try to trading following the method but quickly descant you because you are unable to reproduce the winning trades .

But not serious your new friends is there to help you and eventually he offers to manage your money against a percentage of earnings and you will be trusted.

Result , your friends took you 800 euros for training that does not serve you much because you do not have the experience to implement and you end up one morning to discover that the money you give him had entrusted disappeared in a multitude of losing trades .....

Then of course , you try to have an explanation, but unfortunately your friend who was present when if you had a problem not answering your phone calls or your emails .....

Finally, never give your money to someone to manage . Do not be naive , finance is a world of sharks and some are ready to take you all for money. Also do not hesitate to ask for an opinion on a forum to see if others have tried it and if it had been beneficial . So you avoid seeing your savings from smoke ......