Jude

I raised this question and had the answer on GoldenTalk forums, and seems everyone is pretty satisfied with it. He mentioned that it's not easy to make 1% per trading day, there will be good, and bad days, sometimes he makes more than 2 - 3% a day to cover for the loss days. I think most of the investors who invested has a wrong misconception of him making 1 % a day to give to the investors.

I'm still trying to look for him, if you notice, his blog posts has stopped at nobsforex, don't know why either.

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ybop

He claims however to average 20% a month and this is clearly impossible. In the real world, if you can average 20% a year on your investments then you are doing well. I am as sure as I am of anything that he was not and cannot average 20% a month for more than a few months without taking insane risks that will result in complete loss of principle.

The sheep are eager to grasp at any explanation because they fervently want to believe and the hyip arena has certainly raised expectations to a wildly unrealistic level.

I hope you will take the next logical step of having your lawyer send him a letter of demand warning that failure to comply will result in swift legal action. He has had ample opportunity to provide simple evidence to back up his ridiculous claims but has failed to do so. I have no doubt at all that he is a scammer plain and simple.

Jude

Everyone has been telling me the same thing, but I guess those that are in my shoes will understand what kind of difficulty I am facing on whether to take the very next step towards legal action.

Let me think carefully before I decide on the next course of action. I think Jose was in my shoe before and he can probably explain better on how I feel.

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allinvain

I am confused; why wouldn't you take legal action? Your property (money) is gone and so far you haven't been provided with credible evidence to suggest that it wasn't taken from you on purpose. But anyways, you decide; all I know is that if I was in your shoes I would not vacillate.

On a somewhat different topic, have any of you "big investors" received any refund from Peter?

Jude

Yes, the same like everyone. a 5% of what we invested which is puny to what we placed in.

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allinvain

Hmm..ok, well, let's see if we get anything for August. I figure at this rate of refund I will at least have my principal back by the time I retire

Schminner

I'm amazed that PeterB calls those that demand their $$$ or refunds as "troublemakers".

If memory serves, PeterB is the source of all the trouble .... He also mentioned that he "may" refund all the troublemakers first ...

I guess in order to get the refunds sooner, assuming he will refund, I would start making trouble ... LOL

Traderj

Hey,

I know the GT sheep hate when I use logic, but they hate it even more when I use math. I am not sure why I think it has to do with if I only state an opinion they can call me names and say whatever they wish, but when I use math it's factual and they have no recourse for that. So with that in mind let's do an little exercise in this open minded forum.. it's just for fun but I think it will be very eye opening...

Ok, we must make a few assumptions before we start. So let us assume that PeterB had ClubFX in operation for 8 months, and that he had 150,000 in deposits. I do realize that both these numbers might be totally off as they are completely made up, simply for example purposes. But as we need to start somewhere that is as good a place as any.

Math coming up (hide sheep hide )

Opening balance $150,000
# of months 8
ROI monthly 15%

Final compounded value - $458,000.

In the above case we will assume that PeterB is somehow beating all the odds and is "averaging" 20% a month in ROI. He uses 5% for his personal living expenses (he has big expenses each month ) and compounds the remaining 15%. Hence how we arrive at the ROI in the above money example.

Now 8 months in PeterB is hit by a hacker, nasty guy takes ALL the money. But PeterB being a good guy is going to do whatever it takes NO matter how long to return all that money to his faithful investors. Now it might take up to a year but damn it he's going to make good...

If he did NOTHING else in the trading game and simply filtered back money over a year look at the follow examples.

Of the original $458,000 we will assume he paid out say $28,000 in withdrawals before he was hacked. So now the balance in the "hackers" account hehe is $430,000 PeterB takes a full year to return the original $150,000 of seed money... all the original investors are over the moon with getting their money back even though it took a year and they made ZERO profit.... PeterB OTOH made the 5% a month while the operation was active and at the end of the year put $280,000 in his pocket... but the real cherry on this sundae is the fact that by making good on his "refund" plan he has elevated his status to God-like and can run this scam any time he runs low on cash...

But the real fun is when you play with the numbers a bit...

Let's assume he started with $250,000 in seed money. Plus we will lower his ROI to a much more realistic 10% per month.

Opening Balance - $250,000
# of months - 8
ROI Monthly - 10%

Final compounded value - $535,000

Using the above formula he puts over $300,000 in his pocket in this one...

But you know what, just for fun lets assume that PeterB not only is the world's greatest trader and her earned 20% ROI per month but also the fact that he had other income and didn't skim any money during the operation, simply honored withdrawals for each of the 8 months the scam was in operation.

I'll go somewhat in the middle balance wise.

Opening Balance - $200,000
# of months - 8
ROI monthly - 18%

Total compounded balance - $750,000

Yup three quarters of a million bucks. I used 18% assuming he paid out 2% each month in withdrawal requests... so assuming he pays back the original seed of 200k, he is left with over half a million in his pocket...

you can play with the numbers all you want and come up with some really amazing scenarios.. and I do understand that all of my numbers were pulled from thin air based on the bits and pieces of dollar figures that have been thrown around in public.

The simple fact remains that nobody will ever know exactly how much money PeterB skimmed from his investors, because he will never allow his statements to be seen. That all by it's lonesome should tell all the investors all they need to know... his statements tell the whole story..

He either is a great trader and earned the figures he claims and "REALLY" was hacked...

Or he is NOT the trader the claims and can't show the ROI he claimed and had to pretend to be hacked to cover it.

Put yourself in HIS shoes.. if you were a world beating trader that was earning 20% per month and you were hacked why in the world would you NOT be handing out your statements on the street corner showing proof of how amazing you are and why you should be trusted and proving the skill you possess in order to make good on all the money you lost during the hack. The only reason you wouldn't is if you knew that you couldn't prove anything of the sort and all the trading statements would do is show you to be a fraud.

Now that was FUN..... ok now I really do have to get trading.. NFP payrolls will be out soon... must go make some money hahaha...

seemezoo

Humm... whether 1% per trading day or 20% overall per month, doesn't make any difference to me though...

Thank you anyway, I must have missed that part at GT...
and now my subject would be the same with everyone else (at last) i.e. proof or refund issue or number crunching...
But for now I'm going back to a "wait&see" seat... not intend to whisper Bahhh but after all, it appears PeterB would do what he decides/wants to do no matter what.

yuko

Schminner

LOL ... here's another twisted scenario ... perhaps PeterB bet the GT farm on one of the Non-Farm Payroll news then lost it all, which leads to his fabrication of the notorious Paul Roeder that hacked his account ...

After the loss, only the barn remains, with a bunch of sheep inside waiting to be slaughtered.