Reader Questions Answered – Reporting Your Forex Results

Dec 6th, 2010Comments Off

Question: From: Name and Email Removed
To: support@mmedge.com
Subject: inquiery
Date: Mon, 6 Dec 2010 11:36:37 +0000

Hi,

I read your web page and I like what I read and I am interested in subscribing with you.

But I have a question:

Your performance track record stopped on 16/6/2010..

Are you still operational on your webpage and if yes what happened between 16/6 till today?

Best regards..

Name Removed

Dear Trader, to save you the time, I have gone ahead and grabbed all of my results (June 1 on) from MyFXBook and pasted them in this email.

Trader’s Name, I report this way because I want to separate myself from other signal providers. There is so much fraud in the Forex signal world that it’s hard to make a good choice. Heck, anybody with Excel and MT4 can put some wild trades together and report it as an actual journal. Heck, look around. Check the results from most of the signal providers. If they look too good to be true, you can bet that they are.

The problem is that when you sign up, those results don’t manifest in your account. Even worse, is when the guy sends a signal for a trade that has already taken profit. Then , of course, he tells you that nobody else had a problem, and it must be YOUR email server.

All a signal provider has to do in this business is post ridiculous results, and get 200 people to subscribe at $200.00 per month and he will make a tidy $40,000.00 per month. Why bother with trading when you can pull that off? Even if half of the people ask for a refund (which he CAN ignore in most cases) he still pulls in $20,000.00 per month.

It takes about three months for the trading community to catch on that these guys stink. By then, the guy is in business under a different name with even bigger and better results. MANY of these guys are not even traders at all. They’re Internet Marketers that are good at one thing…getting your money.

I am a trader. I trade currency, and consult for large banks. I am doing this business to establish a well documented track record for myself. I’ll be starting my own hedge fund in a few years, and non client-based trading doesn’t work when you’re trying to get other fund managers to trust you with their money. There are only a handful of professional traders selling forex signals. All of us either have managed funds and hedge funds, or are establishing our records to go with our credentials.

As you can see, you will not get rich overnight trading my signals. You will also never go broke. You’ll never be awake all night worrying about a stop out, or about missing the next signal. My business is about making money for my clients, in the most stress free way possible.

Trader’s Name, I look forward to doing business with you. Let’s make some money!

Thank you,

Tim

Table of Results from MyFXBook Followed.