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Mar 6th 2007
Freedom Rocks - Frying Accounts?
forex hedging, forex 1 year, 5 months agoTags: ForexForSmarties, Freedom Rocks.
With the big movements from the cable and yen for the past few days, there’s definitely a dip or even margin calls coming from users of Freedom Rocks as well as ForexForSmarties. A user, harry posted on our HYIPBlog shares his shocking experience on FR with us here,
hi folks,
i just want to warn everyone to be v.v.v.careful. i started out demo trading FR - loved it - market was on the upside - eventually i decided to go in real money.
invested $31,000.- and guess what - it kept going upwards.
the real horror story started last week - from 37,000.- USD the total equity of my account went down to $880.-!!!! Yes folks $780.-. More than 95% wiped out !! And i’m a newbie so i was trading exactly what i told to trade - 10% margin - 400:1 - all 4 currency pairs. I was told the JPY had more volatility - but never told that if it went down 400 to 500 pips, it could WIPE OUT my account.
I’ve exited my JPY orders - badly bruised.
Please be careful with F.R - if the market starts going down - all that lovely music about buying low and selling high and collecting interest will feel like a piece of crap.
And the best part is when i write to FR they write back to me …..at the end of their email they give u a full A4 size page full of legal terms and conditions (obviously safeguarding their legal ground which i fully understand) and that lovely email ends with “Have a great day†!!!
The system works fine if everything is flat or moving up / down in small cycles. The moment there is big downward wave, THE LAST THING YOU WANT TO DO IS BE hooked to Mr.Mark’s music.
 As I was having a conversation with Dan, Life-Holdings who agrees with me as well,
Jude: still, its morally wrong to tell people that following their system, nothing will go wrong
Jude: even the best leveraged accounts can go bust with any kind of hedging when such drops happened
What irks me is since FR has an MLM model, alot of misconception could be formulated with the promotions member will be sharing. Potential members who wish to sign up with them should have basic knowledge of how forex works before even following up with a live account.
Of course, FR and FFS can retort that users have been advised on not to start any live accounts until they feel comfortable with the system, but when they’re demo-ing, most of them don’t get to see the big moves that Cable and Yen made a few days back. They’ll be shocked if they’re doing that I’m sure.
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9 Responses to “Freedom Rocks - Frying Accounts?”
- 1 Pingback on Jun 23rd, 2008 at 4:12 am
Hi everyone,
Ooops, what did I hit? LOL
As I was starting to say, I feel that this dumping on FR is a bit unfair. Their system has performed well for many for a long time. If those of you complaining about the losses experienced recently, know of any PERFECT system, then please do share. The bottom line is that FR makes this 4X stuff more accessible for more people than it ever was before. Is that a bad thing? I think not. Anyone who is confident enough to engage in the live account, should be intelligent enough to know the risks involved. Can anyone, or any system, ever prepare for every market dip? Of course not. If that were possible, then someone would just patent a robot to do the whole thing, and make a mint. Some lessons are only learned through trial and error, like riding a bicycle, and engaging in any type of business or trading activity. Does that mean that the FR system is bad? If it averaged a loss, then it would be a bad system. And by average, I’m not talking about $, becauswe that is affected by the traders decisions on how much to bet when. But, in terms of average losses, versus average wins, in terms of %. I’m not going to call Scwinn bicucycles a bad bicycle maker because I skinned my knees ansd elbows before learning to ride a bike properly, eventhough I did continue toi skin them after I learned to ride, because unexpected things pop up, I get careless, and accidents happen. I don’t expect anyone to create a bicycle, or car, or trading system which can protect me from every eventuality. This is why professional traders rarely trade 100% of their accounts at any given time, and why daily, weekly, monthly, and yearly averages are much lower for real forex traders than they are in the HYIP arena. It’s hard to pay 20% per month for the money, if you’re only trading 15-20% of it at any given time. Just my 2c.
lol, i left my reply on the group, btw thanks for dropping by Degerro
Never go for the big score!
Freedom Rocks works great depending on when you activate your account. The “lie” is that they tell you that the currencies you are trading are correlated and tend to stay in sync. The truth is that they do not. The reality is you are really directional trading the “CROSSPAIR”. The crosspair for the gbp/usd and the usd/chf is the gbp/chf. It’s movement is a direct result of the relationship between the gbp and the chf. For a more in-depth description of how this works and what you can do to overcome the limitations of an otherwise valuable trading system, I would be happy to send you my full report.
You may also request a free automated version of the Freedom Rocks trading style at: powertradelive.com
They will send you a FREE E.A. or “robot” that will run on any Meta Trader platform.
For more information just send a request to sterling@sterlingblackstone.com ………….
I am not recommending this or any other system but if you are intent on using Freedom Rocks then I feel you should be aware of all the risks.
400:1 leverage?
That is the reason for the failure. Nothing more, nothing less. Never gear higher than 3:1. Go find and read “Bird Watching in Lion Country” by Dirk Du Toit before you waste more money.
Hello, I would like to let you, and whom ever you care to share this with, know about a couple of concepts about FR that alot of people either don’t realize, or just don’t care to share with people. First there is only 2 ways you can lose in the 4x market, first is if you close a losing trade manually, and second is if you get margined out. Now don’t let me lose you, that’s a fairly obvious statment, right? Well there’s more. FR will work completely as explained by the website, IF you don’t let your account run to the point of being margined out. That in itself is one of the biggest down falls of FR, you have to be able to aford massive possible and probable downfalls in the market keep yourself from getting margined out. That’s why some ex-FR reps decided to do something about it, and make a much safer (**NOT PERFECT, but safer**) system that will not only give you the kind of equity building that FR will, but also keep you making money, instead of losing it! What’s better, is that it’s 100% automated, instead of mostly automated such as FR. If you would like more information please go to the following website: www.powertradelive.com/103.html or you can e-mail me directly at: powertradelive@hotmail.com Thank you for your time, have a great day, and a profitable year!
Brandon H.
Hello everyone! I left a message not long ago, that you can see at the bottom of this screen, and would recommend reading it, first, to fully understand this message. Over the last 2 months of using powertradelive’s system I’ve made 10% on my account. That may not seem like much to some, but to me that’s pretty darn good, considering I’m a very cautious trader, and do not take many risks. The point to this is, if you’re reading this because you want more information about FR, it’s ups and downs, or if you just want more information on how to trade from people who are actually MAKING money in the market, then you should really check out the site, AND there’s something new to add! You may not be around this area (Bellevue, WA), but you can still take part in being a FREE member of our group at meetup.com. To get the exact address please log on to www.powertradelive.com/103.html then click the “strategies” link on the left side of the home page, then click “bellevue strategies”, scroll all the way down to the bottom, and click the blue “meetup.com” link. It will take you directly to the page. Again it’s free to sign up, and there you can get all the new updates as they come in about PTL. I wish you all very profitable trading, and an even more prosperous year!
Brandon H.