Currency Concepts

[rmbbrave]

Has anyone else invested any money with currency concepts?

I have been investing with then from May.

The yields have been +2.72% for the May-July quarter and about +8% for the Month of August.

Does anyone have yields from before May 2004?

[arco]

No knowledge of the company.
Do they have a web-site?

[rmbbrave]

The web site is:

http://www.currencyconcepts.co.nz/

There was an article in the herald June 1st. Search "fearless investors"

[arco]

quote:The yields have been +2.72% for the May-July quarter

Wouldnt you be better off trading on your own behalf?

[rmbbrave]

You are right of course but I know nothing about trading in foreign exchange.

I trade shares myself but only in companies I know something about.

[arco]

rmbbrave

There is so much info available on the Fx market
and it is not that difficult to get involved.
There are many ways to approach trading the forex,
- fundamentally, or by using TA short/medium/long term.

Make a start here..........
http://www.forexlisting.com/default101.asp

If I can be of any further help please let me know.

[saintjohn]

Arco
Tempted to go along to a free seminar Wellington Sept.22, but very sus about these get rich people.
Can you offer any advice on this crowd,Informforex
www.informforex.com Looks legit,but?????
Any comment appreciated

[arco]

saintjohn
No knowledge of them, but could be a white label operation.

IMO proceed with due diligence as the bottom line looks rather expensive, unless they have changed their prices recently.

2. FOREX TRAINING PROGRAM

Course Summary
When you have been trained, your decisions are based on facts, not guesswork!

In this two (2)-day intensive course you will be taught Good Judgment Trading and how to execute trades with very limited risk. The important part of becoming a successful trader is properly educating yourself before you enter the market and managing your risk.

With your live Internet trading platform, charting software with live date feed, buy/sell signal software, patience, discipline and the trading course, YOU CAN BECOME A VERY SUCCESSFUL TRADER!

Course Content

During our trading course, we introduce you to the concepts of currency trading and educate you in a selected suite of technical analysis techniques and tools. You will also learn "The Principles to Successful Trading" including:

How to Find a Trade, Where to Get In, Where to Get Out, Risk Management and Locking in Profit. Traders buy and sell currency contracts based on technical and fundamental principals. In the course you will be taught to follow market trends rather than to try and predict them.

Beginner traders should never enter the market without first paper trading. Once you have established a track record of consistently winning and have proven your ability to trade, then we will instruct you to enter the market with your money.

To undertake this 2 day sourse you do not require any broker or financial experience.

Course Fee:

NZD$12,500 (inc. GST) inform Members NZD$3375

exctracted from........

dev.iws.co.nz/club_new/content.asp?pageid=462

[arco]

saintjohn

You may find this interesting...........

http://www.moneytec.com/forums/_showthread/_threadid-4585/printthread.php?threadid=4585

Posted by Cheng on 28-11-2003 11:52:

As far as I can tell, there are three players currently in the NZ market. One just does training (Forex Ice or similiar), the other is Inform Forex and the Data Signal International (DSI).

Inform Forex used promote DSI until they parted ways recently. Now Inform Forex promotes the Commerce Bank (same crowd used by the training company above).

I have been to all the seminars. I went for the Inform Forex seminar and they were pretty hopeless. They couldn't even answer basic questions and I heard later that they do not trade themselves. I don't know if this is true or not.

[saintjohn]

Arco

Many thanks for your help and advice Arco.
Definitely won't be going to that seminar. The link proved invaluable with so many detracters and one supporter, on commission mabey ?

Those Promo outfits must hate forums like these.

So its back to the books and the net. Thanks again

[arco]

saintjohn

Yes. Get rich schemes are invariably a get
rich scheme only for the organizers. If it
looks too good to be true - it probably is.

Anyone would probably be better off spending their money on
a one-to-one mentor who would guide them through
the maze, and supply them with systems and ideas that work.

Arco

[arco]

The basic question re all Advisory Services come back to the same issue...........that is if these were of any sustainable true worth, WHY don't they simply trade the markets themselves for a living?

[peat]

I am commencing with gftforex now
If I start an account with them i.e. $US2500 min(no obligation to actually trade tho) they offer a course for $US50. If you start a $US5000 a/c they give you the course for free.
I will let you know how it goes.

So far their demo system software has worked pretty well.

[arco]

GFT certainly have very comprehensive charting -
perhaps one of the best. I have been talking to
them recently about implementing an addition to
the trailing stop strategy. This would incorporate
a new feature which would allow for a target profit
once met to trigger an automatic trailing stop
of any varied amount.

Peat - look forward to your reports.

[peat]

look forward to your commentaries as well arco.... some of your graphs look real useful.
see, I'm a real novice at this... I havent been doin too well so far in the demo-arena so I want to do the course and then ease gingerly into real money.... will probably reduce the pip value to $1 for a while as well - which, yes , makes the whole thing a bit financially insignificant but best to remain solvent while learning is my attitude.
so far my only system/strategy goes along the lines of plotting 2 moving weighted averages (of different time frames) and using the crossovers as buy/sell signals. Yes this is not very innovative/sophisticated perhaps but looking at it historically it would've produced constant profits. Of course some trades would still lose but most wouldnt.

[peat]

actually I've had an immense amount of difficulty getting my account setup with GFT - the bank a/c no's they gave me both rejected the TT
and so I've had to resort to snail-mailing them a Bank draft. And then they rejected that due to rules implemented as a result of 9/11 that all money paid to them must be from ME and no one else. eg Visa or bank.
I've been working thru this using documentary support from the bank coz obviously I cant write a USD personal cheq which is what they ideally want....
I'm hoping to be trading for real any day now.
I've been doing well with the demo system recently - hopefully this is a good omen:) tho I suspect the trends have all been predictable for any fool recently.

[peat]

kind of ironic that I've had so much difficulty getting foreign exchange to a foreign exchange trading company :(

[arco]

Peat

Did you read this...........
http://www.sharetrader.co.nz/topic.asp?TOPIC_ID=19700

Arco

[peat]

yes I wasnt sure what to make of it
didnt really want to over-react
my interpretation of it was that they were churning his account.
For churning to go on you must have relinquished control to them eg they are managing your funds... whereas I am going to be trading on my own behalf.
it is a bit unsettling tho...

[peat]

and to continue...
I see the amount of money (their minimum account balance) that I am transferring to GFT as hi-risk capital. Definition of risk includes both me losing it via trading and the risk of them folding and/or being fraudulent.
Of course I could consider investigating another broker/trading firm but I am sooo far down this track now.
I would add that the contact I have at GFT has been most diligent in assisting me during the hassles, And their software is pretty good I reckon - at least in demo mode.

[arco]

Peat

Yes agree their software is VG.

A contact will phone you because as I understand
it if they can persuade you go live with GFT they
personally get commissions on all your trades.

Arco

[peat]

gee and i thought he liked my NZ accent!!
yeh of course theres no altruism goin down here....
Well unless someone recommends another broker I'm gonna keep on with it. Nothing ventured nothing gained

Does anyone else on this board currently use Global Forex Trading ?