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Author Topic: Forex Manager DBA  (Read 34104 times)

Online Ruairi OPleurisy

  • DonbonsPrivateGroup
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Re: Forex Manager DBA
« Reply #150 on: February 12, 2020, 11:46:32 PM »
Hi, I have used it for just over a year now - trades are infrequent but it has been profitable.  They give you help on broker selection but some brokers do better than others and you may be required to shift brokers as I have had to do.

There can be losses as well as winners and I've had a couple of recent losses that some others don't have.  Awaiting last month's update email to see how each broker has performed.

The system is API based and they trade your account for you.  Trades typically last a very short length of time so you are in and out very quickly.

For ref, my account made ~30% over the last 13 months, but it will be 15% as 50% will go a fees.

Offline ForexManagerDBA

  • 10 Years of managed accounts. Min $10-30k. Extremely high probability & positive RRR.
  • Jr. Member
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  • Posts: 33
    • Forex Manager Team
Re: Forex Manager DBA
« Reply #151 on: February 13, 2020, 03:33:44 PM »
I lost 5k on 10k Hantec account overnight and was asked to switch to another broker which has better 'feed'. Overall my account hasn't recovered the 5k loss after 6 months. Forex manager is also not refunding the loss as per his 'deposit guarantee'. It is not even close to 90% profitability as advertised.

Never have we not honoured a deposit guarantee, and anyone claiming such is lying and trying to blackmail us and, if necessary, it's fairly simple to prove this to existing clients and or to Donna.  There are other inaccuracies within that short careless post.  We also received a personal message as follows "Refund my 5k and I will withdraw my comments".  Instead, our claim is that he actually owes us $2500 for breaking an agreement.  This loss was already reported to All clients in the September 2019 performance update email (see below) and unsure why he feels the need to try use it as blackmail.

Fact, the above claimant never did receive any guarantee at the brokerH mentioned, and that was made extremely clear to him, but yes he had a poor performance experience.  5k loss on one 10k acc is also misleading as he actually lost $4,400 across 2 accs at same broker, not one acc, which is a significant difference as every acc is traded as 10k+ regardless of balance, and he has 2 at same venue/LP/platform.  "Lost Overnight" is also incorrect as it occurred over a period of 1.5 months.

Extract from September 2019 perf update as sent to all our Clients:
Loss trade at "BrokerH" MT4:  BrokerH was most affected in September by the NOK loss trade with the worst 3 accs being -25% ($10k acc), -34% ($7.5k acc) and -43% ($5k acc).  As rare as it is to have such percentage losses, its not all that rare in $ value as we trade all accounts as if they are $10-20k++ or else it would not be financially viable to accept small accounts.  Note that BrokerH is classed as a short term venue ie. conditions can deteriorate after we generate profits, and therefore its essential we maximise (higher leverage on small accs) every opportunity leading up to that point.  In August BrokerH and BrokerP were the best performers with up to 85% gain.  (BrokerH & P were removed and not offered again and neither were any other brokers that don't offer platforms with reliable means of controlling slippage ie. MT4 is market-execution-only and therefore not a long term solution, but can be extremely profitable at times if conditions are not sabotaged as happened to claimant's acc)

Why did this Client lose money in the end:
He locked in his losses by not proceeding with the various broker allocations and total deposits that were discussed and instead he cut deposits and accounts within a few weeks from 30k to 10k total (our guidance was based on total amount as would not allow 2 accounts at brokerH without joining others as planned) and then after the loss he provided only a total of $3k for recovery, making it far more difficult to recover without trading even more aggressively (same lot sizes but smaller balances) and sending him money.  This huge change in allocation is sabotaging to both us and himself. Without a doubt he would have recovered if he had stuck to the planned allocation at 3-4 brokers and remained flexible and patient....even possible to recover with the $3k but just take longer.   Following his poor experience at BrokerH we gave him a 6 month $3k deposit guarantee on the next broker for which we reluctantly sent him $2,500 directly to his bank even though we believed he had enough to continue trading.  However the claimant withdrew all those funds from that acc within 2-3 months from the start of the guarantee, instead of allowing us the agreed 6 months to recover all losses and return our $2500.  Instead, he broke that agreement and therefore realises his own loss and now owes us the $2500 and his current actions make it clear that he has chosen to play ignorant and steal from us and blackmailing for more.  In such case a Collector could obtain our owed funds.  However this is an unusual scenario as the Client has lost some capital overall with our service, self-inflicted to some degree, but we don't wish to make his situation much worse.  Therefore we will try leave him alone, but if he continues to threaten and blackmail us then we may have little choice but to take action.  Collection for non-payment is usually last-resort.  Would this client with his lack of integrity have paid our fees willingly and returned our money 1 year from now...maybe his "timely actions" saved us from larger problems to come. 

There are some lessons for this:
> Diversify brokers as much as possible.
> Lacking in investor patience or capacity for risk or treat us like an insurance policy, then please don't join our service.
> Provide misinformation or ignore our allocations and procedures, then accept some responsibility.
> Risk is clearly $2,500 minimum per account, regardless of balance, as we trade each as $10k++, especially at high leverage venues. Link to this info was provided numerous times on this forum and in monthly performance updates and by email.  We even offer a $300 deposit broker and still trade as $10k+.

---
Forex Manager Team
10 Years Verified Managed Accs. Min $10-30k. High probability & Positive RRR.

PAMMs from 2009 achieved 10% per month for 10% max DD:


SimpleTrader - #1 Ranking System
FxJunction - Validated Signal Provider

Offline ForexManagerDBA

  • 10 Years of managed accounts. Min $10-30k. Extremely high probability & positive RRR.
  • Jr. Member
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  • Posts: 33
    • Forex Manager Team
Re: Forex Manager DBA
« Reply #152 on: February 13, 2020, 03:42:53 PM »
good evening to all...

try to read all discussion but need many time and my english is not perfect...

i am not sure to understand: FX DBA is trust and reliable?

the myfxbook link showed on signature NOT EXIST... why?

there is some LIVE ACCOUNT currently running and profitable?

thanks to all

Hi, its been explained here and on our ForexManagerDBA myfxbook profile FAQ that cTrader accs stop updating and nothing we can do other than delete and add them again (unlike MT4 accs that can be forced to resume updating), then regenerate widget links and add to profile.  This takes time and we might forget as marketing is low priority.  If you go to our myfxbook home page the latest ICM link should be there near the bottom. 
We will update signature asap, but in meantime here it is: https://www.myfxbook.com/members/ForexManagerDBA/fxm-icmarkets/4471661

Thanks
---
Forex Manager Team
10 Years Verified Managed Accs. Min $10-30k. High probability & Positive RRR.

PAMMs from 2009 achieved 10% per month for 10% max DD:


SimpleTrader - #1 Ranking System
FxJunction - Validated Signal Provider

Offline gabjib

  • Jr. Member
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  • Posts: 12
Re: Forex Manager DBA
« Reply #153 on: February 14, 2020, 02:07:39 AM »
I agree with forexmanagerDBA. My first cooperation with them didnt go smoothly due to i requested a higher risk profile of mix strategy, but i recognize how profitable the institutional news strategy can be, especially when one has $100k and over.

I would be definitely be back later with larger sums to invest only in the news strategy, you really have to be crazy to not recognize the potential here. The only thing that might make people not see it is capital.

I'll advise most to take the time and build your capital, so you can reduce the HL risk and take the regular risk with an institutional broker.

ps- institutional broker or not, it is always wise to divide the money and invest in different brokers.

« Last Edit: February 14, 2020, 02:09:48 AM by gabjib »

 

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