fxwolfpack investment group

[jsonc]

my friend receive an email from this group and it looks interesting. does anyone have knowledge about this group or any experience with this group? the offer is just too good to be true. here is the email:

 

The FXWolfPack team is a private equity fund dedicated to trade spot markets, mainly FOREX. The fund is traded by several low risk profile strategies and multiple traders are managing separate accounts to minimize risk systematically.

 

Latest technologies such as automated strategies are used too, but our approach is significantly different from the usual ways to operate automated strategies. Our strategies are supported by robots to maintain more consistant results amongst different traders and prevent trades from unnecessary losses. It keeps up a certain heartbeat and ensures a constant ongoing trading profile on the accounts. It is also possible to also trade your own strategies.

 

I am constantly on the look out for talented traders to join our team.

 

To be accepted to join our team we put each of our Traders through a certain trial process before we allow them to trade with client accounts. You will still have the opportunity to earn money during the trial process. We work in Stages and each Stage will last for 20 trading days.

 

 

 

Normally we work like this:

 

Stage 1:

 

As a new candidate either the trader gets one of our systems to trade, he/she will be fully educated, or the trader uses his own system. A $10000 demo account will be given to trade. Together we make a trading plan which defines the goals for daily and 20 days. You are given a Trading Plan spreadsheet to complete to help with this.

 

You will receive 15% of any profits that you make on the demo account.

 

Example:

 

A 30% gain is made on the account at the end of the 20day period

 

30% of $10000 = $3000

 

15% of $3000 = $450 payment to the Trader

 

 

 

After 20 days we make the decision whether to continue to the next stage.

 

 

 

Stage 2:

 

During the second period the trader is given a real-money account of $1000. The account will offer microlots and a leverage of 1:400. During this period we are limiting our risk but to allow for the new Trader to achieve decent returns for his efforts then we will scale the account up as if it were a $10000 account. We will multiply the profits achieved by 10.

 

Example :

 

A 40% gain is made on the account at the end of the 20 day period

 

40% of $1000 = $400

 

15% of $400 = $60

 

$60 x 10 = $600 payment to the Trader

 

 

 

After 20 days we make the decision whether to continue to the next stage.

 

 

 

Stage 3:

 

We now decide how to increase account size. It all depends on how well it is working as a team. Depending on strategy requirements and psychological level the trader will be given a much larger account, $20k, $40k, $60k and $100k are possible. We understand that it is not easy to control your emotions if the amount of money is too much at once.

 

During this stage profit sharing continues 15% Trader, 15% the Team and 70% the Investor.

 

 

 

We will continually look at the strategy you are trading and decide whether to continue with it or to change the system. This also depends very much on market conditions.

 

Sometimes we do not have a good system to suit the market conditions and we agree not to trade for a period.

 

 

 

Does this sound like something that you would be interested in ? If you would like to be considered for joining us I would like to learn something about you and your trading experience. I would also like to hear about your goals and expectations. There are many qualities necessary for successful trading, what do you believe to be your talents in trading?

 

Do you have any real-account trading experience? It is not a precondition to work with us, but important to know for defining psychological levels. Trading other people’s money is a third level of pressure.

 

It would be good if you could shortly describe what you have tried up to now (trading history only) and how happy you are with your current system. If you have any trading account statements, real or demo, that would be most helpful.

 

Please answer conservatively so that we don’t take the wrong route and so we can find the best situation for you. We want to make sure that you start with the right level of pressure for your experience.

 

Please also give me some personal details about yourself, your nationality, country of residence and age. Please complete this link

 

https://spreadsheets.google.com/viewform?hl=en_GB&formkey=dDg5VGk0RDZDNXJZUVdkdXhNZERNaUE6MQ#gid=0

 

Looking forward to hearing back from you !

 

Friendly regards

 

Kim Ali Khan

General Manager

Fxwolfpack Investment Group

Edited July 22, 2010 by jsonc
move to correct section

[jsonc]

any 1? some1?

[4xinvestor]

LoL, Wut?

"Do you have any real-account trading experience? It is not a precondition to work with us"

 

would any real fund management company recruit traders in this way??

 

This is complete utter B.S.

[JimJamBonks]

Fxwolfpack may well be B.S. but this approach is not unheard of. Keystone Trading, for example, do not demand prior knowledge or experience. In fact the absence of bad habits can be beneficial for those without experience as it makes it easier for individuals to assume proprietary methods without the burden of existing beliefs. Of course Keystone Trading require you first pay to go through their training, but once completed and with some trading record, they then allow individuals to trade Keystone's equity with a share of profits.

[arnaudbzh]

Take care with automated strats on Forex. Broker can see it after a little time and change your spreads

[FreddyFX]

I also received all above and decided to give it a try.

They also have a trading chat room, where I have met a few of the others already.

Starting this coming Monday and will let everybody know what the results are.

 

It won't interfere with my normal trading, as that will keep preference and have their demo setup on a different pc.

[outcast]

I also received all above and decided to give it a try.

They also have a trading chat room, where I have met a few of the others already.

Starting this coming Monday and will let everybody know what the results are.

 

It won't interfere with my normal trading, as that will keep preference and have their demo setup on a different pc.

 

Hi Freddyfx

 

I assume you have completed your 1st 20 days. Can you lets us know how it went?

[FreddyFX]

Yes, I did.

In their so called chat room I was able to make contact with a couple of the others, who gave me each by themselves the idea they don't really understand what forex is all about.

 

I evaluated their own strategy, which is (except for some small changes) the exact one that CH is using on the M15. For the ones that know that trading strategy (it is available on this site), there are a lot easier ways to trade then with a chart full of copied and renamed indies.

 

The matter that made me DEFINITELY walk away from them this past Friday was their unprofessional treating of a server glitch a few days earlier. I had a perfect trade going and price was heading for my TP, their server stalled and my trade was not honored. Their so called manager and the boss were fast to mention on Skype that this was part of trading and I had to live with it. Well, let me tell you that with my normal live trading with brokers I have NEVER EVER had to suffer any losses of such kind of incidents.

Anyhow, guess they understood they had a tiger by the tail now and eventually the head man Alex agreed to settle it at the end of the period, but something had snapped already in my mind.

 

This lead to me thanking and stepping away from this altogether.

 

Let's face it, the money that I make in my own account is MINE 100%.

Why go for working my butt off for only 15% commission with them?

 

I have done managed accounts in the past; 50-50 or nothing. In the end it becomes ALL headaches, as people get greedy, want to have payouts after the first month already, a story on its own.

 

I interviewed a couple of the other traders, the whole bunch is not more then some 13 persons. Majority are only doing this to catch some extra trade money so they can start on their own a bit later. NOT the setup I would like to invest BIG money with as an investor.

 

LOL, they can divide what I left behind, as with my own strategy and with what I teach, was doing better then using theirs.

 

Hope my 2 cents here prevent others of testing them.