Hello, this is Sam, owner and president of Forex50.com. I wanted to spend some time to give you a little background of Forex50.com and myself. I actually got into Forex industry as a victim of a scam. My brother about ten years ago told me to looking into other income streams besides working, so I decided to check out a local Forex seminar. This is a place where people are taught how to trade currency. The trainer seemed legitimate and very knowledgeable about currency trading. Of course, I didn’t know anything about investing back then, and I was naïve and eager to get into something fast. After the seminar, I immediately signed up. From what I heard, I truly believed I was going to make a million in days! I must admit the trainer did a good score on me.
So the training starts. At first I wasn’t required to deposit any money with them. After about a month or so, I made up my mind to gladly deposit $5,000 into their brokerage account and started trading. Somehow they didn’t have a computer platform back then but heck I didn’t care, I was able to phone in orders and that was good enough for me. I didn’t know anything about trading but instant gratification part of Forex really got me hooked, I couldn’t wait to get my hands dirty. First few trades I was successful! I am sure it was all luck but I quickly turned $5000 into $6500 or so. The next few trades, I did ok but one big trade really got me suspicious of whom I was dealing with. I remember placing an order with the broker, next day, fortunately I was in the money. It was at least a 20% jump from my entry level. Needless to say, I was very excited. I got on the phone right away and informed the trainer this good news and I was eager to find out of my account balance. Apparently all the students were required to deposit money into the trainer's designated broker account because we were advised the broker was trustworthy. Few hours later, out of my expectation, I was informed my position was never filled for the price I set up!? I was furious, I explained about my position and compare serveral different charts to prove my entry level should have been triggered and demanded an explanation. Long story short, the broker and the trainer were actually friends. They never processed any transactions for us nor have they ever deposited our money into any legitimate entity but probably their own joint account. They figured none of the students could beat the market so why not set up phony transactions because they bet we were never going to have any gains! They were able to deal with small losses but the winning streak I had really got them ticked off so they decided to pull the plug on me. After I found out about this, I was mad and demanded my money back. Only after a series of black mail and threats, I was able to recoup about 2/3 of my $5k deposit. I got lucky, I know others didn't retrieve anything at all because the money was probably well spent. It was not a pleasant experience for me or anyone to go through but it was a really good starting point for me to take a journey in the currency market especially after a small winning streak. I think I was completely addicted.
Through out the years, I was involved with stock most of the times because it was popular and easier; and also I was losing money each time I touched Forex. Before Forex50.com, I was Vice President of Investment for J.K.Financial in Orange County, California. I did that for a few years. I had to leave the firm because my trading style was different from the owner and we bumped heads all the time. I didn’t like the idea that he traded excessively in client’s account. It kills performance and he was doing it mainly for his own interest. He liked to trade more so that he could make money from commission. Stock is unlike Forex, each time you trade, you get commission regardless a win or loss. Obviously more trades, more money goes to the owner’s pocket and he was also encouraging us to do the same. Towards the end, I just couldn’t take it any more and decided to leave. I wanted to move on to start something on my own and run the business my way. Forex naturally came to my mind, slowly and maturely I’ve become pretty good at it through out the years. It never really left my body because I was always trying to figure out ways to improve, trying to find out why I was losing money each time I traded. I think I went through a lot of struggle but somewhere along the line, I fell in love with Forex market. It has great liquidity, it is fun and can be very rewarding. The more I got into it, the more I liked it and I was determined to stick with it forever.
Early part of Forex50 through out 2008, it was all about perfecting my system. I tried to mix and match different strategies into my original system. I tried all kind of plays, anything you can think of in the market, even options. Furthermore, a great deal of effort was spent on finding the best money management system for the way I traded. All and all, I think I have something I feel really comfortable with now. I think I am pretty much set as far as trading in this market, I do not see any major weapons I can add on to the system I developed to make it better. I think it is pretty much solid now. On business side, I like to be honest to my clients and myself. I hate to lose money for anyone especially my trusted clients. I’ve been down that road many times, it wasn’t pleasant. I truly wish and hope everyone can make money somewhere somehow especially in today's tough economy. I think we all need multiple income sources other than a job to survive.
In conclusion, I hope you like Forex50, please go through the entire site for due diligence and feel free to ask questions or leave comments or ways I can improve my business for you. I want to be 100% transparent to clients. If I am not doing enough, please let me know. I hope I can work with you and I am open to suggestions. If you do not feel comfortable with me, I wish you the best of luck else where with someone solid. I look forward to serving you, best regards and good luck to your asset!