Lazyman's guide

Well, I would remove the (gd potential) for these 2 programs. As I have said way earlier before, if they are good programs , they should test out their programs and go on live so that everyone would make money every month and there shouldn't be negative returns if proper strategy is used. Why do I say that? Because I know that proper daytrading strategy works both ways, you can win in bull or bearish market and I have heard positive results this month. Well, maybe maybe December would be harder to trade, but I don't see how the other months would turn out negative.This week alone, I have seen a lot of potential setups for profit myself so it turns out to trade yourself would be the better way? Well, that's if you have some time to spare and your timezone is great for trading during a larger movement in the market. Anyway, a 6 months monitoring is good to evaluate whether the program is performing well, these 2 programs have yet to reach that timeframe. Hope to see better performance else I may just quit too.

Here's the update from Ibizatraders:

Dear Investors,

Today is a sort of black day for us at Ibiza traders. Although the
forecasts were very favorable for this month, as I wrote in my last
(interim) update, we have suffered a substantial loss. This could happen thru
a variety of circumstances but let me blame my self in the first place
as I do not like to hide behind all kinds of internal/external causes.
I understand that this will come to most of you as a big and nasty
surprise. For me it is as least as nasty as for you. Apart from the fact
that I have a lot of my own money invested in this project, also my
private account was hit to the same magnitude.

Apart from the financial aspect, much more important to me, also my
reputation is down the line. So personally this hurts me very much. Forget
the idea that we have stolen money from the fund or some other form of
fraud committed. We have hard proof for the oneâ€™s under you who do
not believe us.
In spite of the facts as written above Ibiza traders is not bankrupt.
We lost a good part of trading capital but not all of it and above all
not our self-confidence either. The loss could occur due to a
miscalculation on my end and perhaps a bit of ignorance as well, I have to admit.
In the mean time we have looked and found ways to prevent this in the
future.

We have also held our trading model against the light and we had to
conclude that it did not meet our expectations; in the period of testing
this model, during the first half of this year the markets were very
trending while as from the month we started the market went entirely
sideways (range trading). However in the meantime we discovered another
model with an excellent track record We have so much confidence in this
that we agree to let Bluemax have a look in our books as often as he
wants. We can also send him a daily or weekly trading report so that
someone. representing the investors,
can control all the time how we are doing.

Having said this it will also mean that we have to set a 3 months
moratorium on all interest payments and deposit withdrawals. We apologize
for this although we are 100% certain that we will be able to come out
of this temporarily situation stronger than ever.

Peter Ris

Advantage Private from Takii on hyipdiscussion:

"
The loss will be made up by the companies profit. As of course its the companies fault for the loss. If i make 10% of the current amount in the account. Clients will recieve that amount.

I do not rely on new clients to make up for loss. So I will not be holding them responsible for the loss.

I wouldn't expect big payouts in the next 2 months though, as trading will be light due to holidays and market conditions
"

posted by Lazyman @ 1:13 PM

8 Comments:

At 2:38 PM, Anonymous said…

Lazyman, isn't it obvious what's going on here?

This is a classic ponzi move.
1) Make some payouts to inspire confidence
2) Collect new investment money
3) Claim loss when no trading ever occurred
4) Stop payments
5) Disappear with the money

Surely you must have realized by now that all these "funds" never do any actual trading.

A real broker has a license, makes you sign a whole bunch of documents, and receives/sends money using banks.
At 3:44 PM, Anonymous said…

Hi ron, I wouldn't totally agree with you since ibizatraders was audited by some well known guys in the hyip community. Maybe I would say bots were used in my blog entry for Takii's forex program, not too sure of ibizatraders. They are not brokers, they are just programs with pooled funds (in a hyip style way) which means there's really no signing of documents, unless you are talking about managed accounts.Anyway, I have invested the min for both programs as I do not want to put too much hope. Let's see for a little more what these 2 programs are up to. NSFG did have a loss according to them seized of funds by danish authorities and was proven to be true.They were never in my recommended list of programs probably due to their programs are still young.
At 5:39 AM, Paul said…

his type of update from Ibiza comes as no surprise. If a trader is going after 20% monthly they are taking a lot of risk in the markets.

You can believe the hype all you want, but programs that promise such high returns are going to have some big draw downs from time to time.

The real sign of a ponzi is a program that claims to trade on the financial markets and never show a loss. This is almost impossible to attain. I say almost impossible because I don't know every trading strategy out there.

I have been trading for 4 years. I have talked to dozens of traders. What I found is that some of the best traders in the world are very happy to consistently earn 5% - 10% monthly.

Can a trader earn more than that? Of Course, but not with out taking some big risk and there is one thing for sure when trading the FOREX, Stock or Futures markets, you will have losing trades from time to time.

Most HYPers have very unrealistic goals that are fueled by the scammers who promise the world, collect your money, then leave the building.

Once a person runs into a legitimate opportunity making more realistic returns, they tend to pass over it looking for the next ponzi.

Best wishes
Paul
At 1:03 PM, Anonymous said…

Hi paul thx for the great input. I know that it is quite possible to attain positive for all the months, definitely in trading there are losses but you still end up positive. However, from what I see November seems to provide ample opportunities for potential setups and I am actually unhappy to hear they are making losses.Or maybe I see what these traders don't see? Well, I shall not speculate further... I am still sticking it to the first 6 months or slightly more, if situation doesn't improve, hey it is time to get out. It seems being your own trader is the best but not all readers have the time. For me, it is still about time I have busy months and slack months.
At 8:02 PM, Anonymous said…

I tend to agree that this one looks like a ponzi. I was the one who audited the "trading". All I saw was a newly created account with few thousands sitting there. I was promissed by Peter to be allowed to log in later and verify the real trading, but that never happened
At 9:39 PM, Anonymous said…

This isn't looking good, thx for the input mbongwe... so looks like we have to dig deeper.I remember somewhere somebody did a verification of the certificate which Peter Ris showed on the site, and found to be true. But the audit of the trading reveals a newly created account? Well well, looks like we need to wait a while before we can recover some $$ if it does happen.
At 11:12 AM, Anonymous said…

Just another note here: Bluemax verified there was a trading loss.Can we eliminate ponzi here? That depends on our trust of bluemax but I don't think he will lie to us anyway.So most likely a bad miscalculation, but if such things happen over too many times, get out asap!
At 2:30 PM, Anonymous said…

Can Bluemax verify the previous gains?

Maybe the one time they actually tried trading they failed and everything before was a ponzi?