Arsen

What pool has bought Peter recently?

Conciliator

No, it's actually not a new pool, just a new back yard.

kibitzer

I was browsing through the Hyipranks site and came across a post warning people about a modus operandi whereby a member who has earned some trust in a forum sets up a program and then closes it for one reason or another promising refunds.

Do a search for "good123" on that forum and you'd be amazed at how the exact same scenario as Club-FX has unfolded with people going through the various stages of the "grief process": shock, denial, etc. It's simply pathetic...and oh so predictable! Reminded me too of how it went with Rog's private program over at hyipdiscussion.

Guess what the name of the "good123" admin was. It's...Peter! Coincidence???

Btw, as of today, the refunds have not proceeded as promised although more than a year has passed.

makila

Probably the same Peter. Peter(eh not me, my name is also Peter) is a top rank scammer, he will not return a cent to any of us.

Its not going well with online programs these days. I only trust a couple programs still, and all these programs had a sever drop in their return rate.

Traderj

Why oh why don't people realize your statement above is FACT... they just don't seem to get it is highly likely that PeterB pissed away the bulk of the funds with poor trading had to come up with some "hacker" to blame... anybody should be able to do the math... if he has a "friend" that will lend him 100k and he can show a monthly return of at least 20% that is 20k per month... even if he paid back his friend 10k per month in a year that debt would be cleaned up and he would have earned another 120k for himself and still have the original seed money of 100k why would he bother with taking in 1k here 500 bucks there... I mean his whole operation makes no sense at all...I guess people that don't trade or know little about it don't see how crazy his claims are.. but no trader in the world would EVER promise a fixed rate... it just can't be done... not unless the rate was fixed at like 1% or 2% so even a rough month could be covered... EVERY trader has those rough months.

Schminner

I would have to disagree with the "poor trading" theory. I think he just took the money and stashed it away in a personal retirement nest.

The investors would be lucky to get a "partial refund" from this guy. With all of the grief, shock, denial, etc... PeterB assumes that the investors will be happy just to get about 5% of their investment losses.

Afterall, he presumably did borrow his friends 100K to "partially" pay back investors. And for that noble effort, the investors at GT will praise him as a heroic Admin and will be willing to dish out more $$$ to further fatten his retirement fund ...

Traderj

Oh that's quite possible, I did say it was "highly likely" not that it was the only or best theory.

Which still confuses me.. I mean ok if you had 500 bucks in there and you lose it big deal.. but I was under the impression he had some big investors.. like 5 and 6 figure... why would they be willing to take such a small refund...and more importantly why have they all just let it slide they he still has NOT in any way shape or form proven he was hacked or that he made a single penny as a trader.. unless someone has seen those records and I've just not read about there is zero proof that he made 20% ONE month forget multiple..

Like I said.. the fact that he can get somebody to loan him a 100k makes even less sense as to why a 20% a month trader would want to go through the bother of setting up Club-FX or I guess the FX could stand for special effects like in the movies..and his making all the money disappear was his "trick" hehehe

kibitzer

Hey traderj. You've said a few times you're leery of programs that offer fixed interest rates. I'm wondering if this includes those with low daily rates, say .55% , like EBL.

(What's your take on Earn by Loaning, btw? I know you took part in AP's TIC which was somewhat the same, correct?)

TIA for your reply.

Jude

Was PMing him and asking about the refunding procedure. He mentioned we will be getting 5% back sometimes this week or so.

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Traderj

I actually don't have a problem with a fixed interest rate as long as it's a reasonable one based on the business model. I can't say much about EBL as I don't know enough about them. I didn't mind dealing with TIC as the rate was not overly high and it was NOT based on trading activity but rather business income from the various income models they had at the time. I still believe actually that model was a good one but it was the complete and total failure of the management to manage the cash flow properly that caused the issues there... then add to that the problems that came up with Egold and it just made it worse for them as they were/are dependent upon Egold and Ecurrencies in general for the bulk of the revenue.

My issue with fixed rates are when people say ok we are trading this or that market and you will make XX% a month.. that is utterly impossible.. there is NO way a trader can KNOW what their monthly return will be unless they set it at a very low base rate of say 4 or 5% a month and if they earn more they distribute the funds proportionately and if they make less they take NO management fees that month...

Bottom line 99% of all the programs that say they are trading wouldn't even know how to open a trading account let alone actually manage one. Some of the drivel I read on these sites makes me cry it's so pathetic...

J