Does he have a series 3 and send out quarterly/annual reports? If not, I wouldn't. There is money to be made, but it isn't easy money, and there is significant risk. He wants the capital to increase his gains. 2% a week on $1k isn't much compared to 10-50-100k capital. The problem is, if/when he makes a bad decision and tanks half the capital, you won't be friends anymore. If you're ok with losing your friendship, then the question becomes, why the hell would you give him any of your money.

thank you all for your feedback.. i ll post again when i meet with him and gather more info or i ll just ask him to defend his proposal here

his brother is actually a good friend of mine and told me he turned 15k into about 100k in last 12months.. so if i understood him right he can just run my investment as a second - parallel bankroll automatically by somehow auto-cloning his trading actions.. which if true and possible sounds logical to me..but i think its best i meet with him and let him explain the stuff in more details...

so if i have no trading experience it should be very hard for me to check his trading graphs/results ? are there any tracking forex sites like ptr for poker ?

thanks again!

so am guessing that having series 3 and sending out reports has got to do with his success proof and reliability ? i am giving him money as a business opportunity not cause he is my friend.. him being my friend makes me feel better knowing he wouldnt just run off with the money i guess..

a series 3 is the options/futures/commodities license. If you were to be a financial adviser for stocks/mutual funds/etc. you would have series 6/7. Ideally what he is proposing is to be an investment manager handling your forex portfolio. Depending on where he is located he may need to be registered with a regulatory body to legally trade client funds. If he is registered and has done all this, then he's obviously serious about it.

If he did have a 600% roi last year though, he should be able to provide a trail, give you figures on his successful trades vs failed trades, etc. Things I would want to know would be:

Largest successful trade
Largest failed trade
# of trades
# of profitable/losing months

If he took a huge gamble and spiked 75k on a single, heavily over-leveraged trade, and then was effectively break-even the rest of the year, I would be leery. If he was profitable 11/12 months and looks to be trading smart, then you're good to go.

In a poker sense, do you want to stake the guy that is bleeding cash left and right for 11 months then binks the sunday million, or do you want to stake that guy that is consistently making 10k/mo.

I'm definitely not saying do it or don't do it, simply "know what you're getting into" before you do it. If he doesn't want to provide you with any of that info, then fold and look for a better spot to shove.

I'll give you advice for a second time that this is a terrible idea. But, you're still going to do it, so at least try not to give him more money after he loses the initial deposit.

And for future reference, anyone who tries to sell themselves by saying they turned 15k in 100k would not be someone to do business with.

100% bad idea.

Turned 15K into 100 in 1 year and needs your 15k?

We'll only get updates if everything goes well

I'm in a very similar situation I'll post about it later.

dude. i like you. you do good work. PLEASE don't do this. i'm emailing you in case you don't check this thread in time.

wtf, there is no reason to give ANYBODY like this $. nobody who is a good trader needs or wants some tiddly amt of money. maybe .005% of the population for some random crazy reason but even then it's worrisome lol.

Seems like there's a very, very high % chance that he will be the introducing broker on the new account you create. You will likely make a very small return on his 'cloned' strategy and he will do decently well on the rebates he collects from all of the 'investors' he accumulates. Passive income ftw

Furthermore, he will get the preferential fills if he indeed trades this strategy in parallel to the investors' accounts. Likely not a big deal but still worth noting.

This is super shady on his part and almost certainly a pretty bad deal for you in general

Information like this is meaningless.

Going short almost any USD pair...
With significant leverage...
Would result in this kind of return last 12 months.

http://finance.yahoo.com/echarts?s=F...urce=undefined

ok thanks.. this is usefull... i am less and less sure about this.. Can we hear more from you Burdman2321 ?

btw: anyone knows how to invest in water sources or something?

The FX market is so efficient that Alan Greenspan once said ”…Despite extensive efforts on the part of analysts, to my knowledge, no model projecting directional movements in exchange rates is significantly superior to tossing a coin. I am aware that of the thousands who try, some are quite successful. So are winners of coin-tossing contests."

not to contradict the statement but lol at everything Alan Greenspan said (ever)....

is he like phil hemluth in poker or something?