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FOREX TRADING STRATEGIES

As part of the Forex Trading Strategies Mastermind project, Stuart McPhee and David Jenyns interviewed forex trader Mark McRae.

The interview took place in Mark's hotel room while he was visiting Australia in August 2008.

To watch the complete forex trading strategies interview visit:
http://www.onlinetradingmastermind.com
Category: Education
Tags:
forex trading strategies

A FRAUDULENT GENERATION

There is an unfortunate optical illusion - a variant on the Doppler effect - that besets all frauds. It's unfortunate, because it has the effect of exacerbating the pecuniary losses that fraud victims endure, by unfairly leaving them, like many rape victims, irrationally ashamed of themselves.

The Doppler principle we posit holds that as a victim approaches a swindler, he sees nothing but green lights. But as soon as he realizes that his money is gone, he spins around and beholds, as if by magic, bright red flags as far as the eye can see.

http://money.cnn.com/2009/03/31/news/newsmakers/parloff_dreier.fortune/index4.htm

HOW FAR COULD BELIEF IN ONESELF TAKE US: TO A BROTHER I BOW

Here is some stranger with a familiar name. So familiar I had to dig deeper into his origin and this is what a found: "The Nigerian Nightmare" - He was called those early years. His attainments yet so far reaching and yet not close to home as could be much desired.

CHRISTIAN OKOYE, former All-Pro running back for the Kansas City Chiefs, created Okoye Fitness and Nutrition to help individuals redesign their health, fitness and nutrition. In 1990, The Christian Okoye Foundation was created to help underprivileged children assume their role in society. “The Nigerian Nightmare”, as he was known, has spent his adult years perfecting the art of sculpting the human body.

Growing up in Nigeria, Christian played soccer until he was 17, and was a sprinter and thrower on his high school track team. When he arrived to Azusa Pacific University in 1982, Christian won seven National Titles in shot Put, discus and the hammer and amassed 17 All American honors in track & field and football.

In 1984, despite having attained marks more than sufficient to qualify, Christian was omitted from his Country's 1984 Olympic team. Frustrated, Christian abandoned track and field and joined his college football team. Having played football for a mere three years, Christian was drafted in 1987 by the Chiefs in the second round. During his seven seasons in Kansas City, Christian set a number of Chiefs rushing records, including total yards in a season, attempts in a season, touchdowns in a season, attempts in a single game, 100-yard games in a season, and was the first Chiefs running back to rush for 1,000 yards for more than one season.

Christian's outstanding 1989 season culminated in an array of awards, including Running Back of the year (101 in Kansas City & NFL Alumni) and first team All-Pro. The National Football League Players Association voted Christian the American Football Conference MVP, and he received the Mackie award for most touchdowns in the AFC. Christian garnered Most Valuable Player honors from the Kansas City Chiefs, and the Quarterback Club of Washington DC named him the League MVP. Christian received the Courage Award in Baltimore, which was named after Ed Block.

He currently holds four Hall of Fame honors including: NAIA Track & Field Hall Of Fame, KC Chiefs Hall of Fame, Missouri Sports Hall of Fame and Senior Bowl Hall of Fame. The only one eluding him so far is the National Football League Hall Of Fame, which many say he will make.

According to Okoye, he left the game when he realized that he no longer could perform at the top of his abilities. And not being accustomed to the game from the beginning, it was easy for him to retire when he did. During the 1993 season, Christian retired in order to face different challenges in his life, which includes spending time with his daughter Tiana.

Christian now dedicates his time to assisting individuals’ address and correct their health and weight problems, and running The Christian Okoye Foundation since 1990. His fitness and nutrition company, Okoye Fitness, Inc., offers scientifically advanced nutritional products designed to facilitate weight loss and weight management for better health. His Foundation works with inner-city kids to provide them with the means and desire to focus their goals on bettering themselves--and the community--through education and sports. Mr. Christian Okoye is now a member of National association of Intercollegiate Athletics Track and Field Hall Of Fame, Kansas City Chiefs Hall Of Fame/Ring Of Fame, Missouri State Sports Hall Of Fame and recently on January 24th 2004, Senior Bowl Hall Of Fame.

Christian works with organizations to motivate their members to focus on, and achieve, their goals by emphasizing drive and commitment. Christian is available for motivational speaking, and can work with your team, business, church or other organization to help its members achieve their goals. If you are interested in his speaking services, send e-mail to christian@okoyefitness.com.

Through his no-nonsense advice and state-of-the-art product line, Christian has helped many lose the weight they thought was impossible to lose. If you have the dream of attaining a new, higher level of fitness and nutrition, you are a few clicks away from achieving your healthy lifestyle. We encourage you to log on and discover for yourself what a difference Okoye nutritional products will make in your life.

• Inducted into the NAIA Track & Field Hall of Fame.

• In 2000, Christian Okoye was inducted into the Kansas City Chiefs Hall Of Fame, and his Name was added in the Arrowhead Stadium ring of honor.

• February, 2003, Christian was inducted into Missouri Sports Hall of Fame.

• January 24th, 2004, Christian was inducted into Senior Bowl Hall of Fame in Mobile, Alabama

• President/Founder : California Sports Hall Of Fame

Click Here for autographed items signed by Christian Okoye.

Visit his website here http://www.okoyefoundation.org

A GLINT OF HOPE FOR NIGERIA'S ENERGY PROBLEMS

As much as it seems far fetched to be achieved in the U.S., the possibility of a Smart Grid cannot go without one imagining how much that could solve Nigeria's epileptic energy problems. This is an excerpt from CNN.

By Matt Ford For CNN

(CNN) -- Think of the future of green energy and the mental picture you may conjure up is one of vast solar plants glinting like a beetle's eye in the sun, or ranks of wind turbines turning in the breeze.

Power up: A 'smart grid' could integrate traditional and new energy sources and lead to greater efficiency.

While the years to come will feature more of these power sources, one of the most potent weapons in the green energy arsenal is actually remarkably prosaic: efficiency.

According to research sponsored by the U.S. Government, improving the efficiency of the national electricity grid by 5 per cent would be the equivalent of eliminating the fuel use and carbon emissions of 53 million cars.

For years environmentalists have been talking up the idea of a "smart grid" as a way of achieving this - an electricity distribution system that uses digital technology to eliminate waste and improve reliability.

Advocates of a "smart grid" also say that it would open up new markets for large and small scale alternative energy producers by decentralizing generation.

"It would give consumers the potential to have a much more complex relationship with their energy supplier," says John Loughhead, Executive Director of the United Kingdom Energy Research Center.

"Essentially, with a smart grid, traffic goes both ways. If you wanted to install some kind of micro-generation facility in your home, you could use it to sell to the grid and get money back."

Read More @ http://edition.cnn.com/2009/TECH/03/01/eco.smartgrid/index.html

ALL HYIPs are FRAUD

I am not a greedy person and my instincts guide me well. I learnt about HYIP through my search for a way to make legitimate money via the internet. When I stumbled upon the HYIP concept, I embarked on a journey to understand how it works and how possible it is for anyone to pay you 10% - 30% or variable percentage returns on investment daily, weekly, monthly or variable lengths of investment period. I had to learn the hard way, because if you want to find out whether a HYIP site actually pays, you have to risk your own money at that. I went on to acquire a Liberty Reserve account of about $250 and started droping small bits of it on different HYIP sites.

You would imagine the my excitement when I drop $5 and check after 2 days to find out my account has increated to say $6, which leads me into "imaginative calculations" = what if i drop $1k or even $2k. Its crazy how the psychology works. The general intention of the HYIP sites is to give you small bits of profits for big bits of heist s stollen from you.

Yes all HYIPs are fraud. And it goes without saying that I lost the entire $250 to about 20 different HYIP sites, from the ones that continued paying me for 2 months to the ones that never paid.

Here is a little bit of twist that the fraudster are using to squeeze out more from ignorant internet bounty seekers from FOREX PEACEARMY:

Two Frauds Combine Into One New Variety of Scam
by Pharaoh

I think I've got a pretty good handle on the basics of HYIP-style Ponzi schemes that scam anywhere from a few dollars to someone's entire life savings. I understand the concept well enough that I published an article on Ponzi's and HYIPs just five days ago. Then I got a note from FPA Investigator Ken about something just a little bit different.

It seems that an FPA member who had made the unfortunate mistake of getting involved with the BestFxWorld HYIP was suddenly being asked to pay for a “VIP Membership” that wasn't part of the rules when he joined the HYIP and also wasn't listed on the website when the demand for this additional money was made. They refused to take the money from the funds already in his HYIP account and demanded than additional payment be made.

I had to ask Ken to recheck and confirm all the details very closely, since I knew what that kind of demand was and didn't think HYIPs did that sort of thing. He confirmed it all and then I knew my suspicions were true. The BestFxWorld HYIP was trying to commit its own version of advanced fee fraud in addition to the usual theft of account balances done by HYIPS that are getting ready to shut down.

For those of you who don't know it by that name, advanced fee fraud is often called a Nigerian 419 scam (apologies to my fellow soldiers who are from that country, but General Abacha's “friends and family” sent enough faxes and emails to make that name common). The basic way it works is that for some reason, there is a sum of money that only you can help recover from a bank, security company, etc. The source of the money varies wildly. There are hundreds of different stories – money skimmed from petroleum contracts, money left by some person oppressed because of his beliefs, money left in a bank account by someone who died with no heirs, money confiscated from one of Saddam's palaces, etc. I've even seen one where there was supposed to be some huge forex profits sitting at an overseas brokerage that were somehow going to be transferred. The only thing they all have in common is that the money cannot be touched until you pay some fees. The trick is, you can pay and pay until you die of old age. You'll never see a penny. The oldest version of this scam date back many hundreds of years in Europe – a princess has been kidnapped and all you have to do is pay a modest ransom now and the king will give you a huge reward for resolving the issue so discretely.

What all of these have in common is that you have to pay a fee in advance. The typical advanced fee fraud involves you trying to get money from an outside source. BestFxWorld has created a new version. BestFxWorld wants you to pay a fee up front to get your own money back.

Just to add insult the fiscal injury already inflicted on Rockwarrior, during an online chat with BestFxWorld, they claimed that they could change the rules at any time and clients aren't allowed to complain. Under those circumstances, it would be foolish to send money, since that statement means they could demand more money at any time before paying one cent. Of course, that's how advanced fee fraud works. People who run advanced fee frauds operate on the idea that if you pay once, you'll probably pay again and again.

Even worse, when Rockwarrior refused to give them more money, they also made the ludicrous threat that they would send the FBI to Portugal to arrest Rockwarrior for the crime of asking for money owed to him.

Ken tried to reason with the BestFxWorld admin. He responded by proving his company was legitimate by saying that they were verified by ICANN. All that really means is that the company has a registered domain name. Anyone can have a domain name and ICANN doesn't check for criminal intentions.

Next, BestFxWorld's admin threatened to complain to the FPA's registrar and hosting company and have the FPA shut down. I guess he didn't see the point that the FPA is also listed with ICANN and thus should be afforded instant invulnerability to all claims based solely on possessing a domain name – haha!


So, what we have now is a HYIP reaching its terminal stage finding a way to merge the whole concept of advanced fee fraud in on top of the Ponzi-style thefts they are already committing. Overall, I find this to be a disturbing development.

BestFxWorld is allegedly based in the USA. If they really are in the US, then the best thing for victims to do is to contact IC3.gov and provide as much information as possible. This is also a good idea for any US-based victims of HYIPS in other countries. If enough people provide good info to law enforcement, maybe a few dozen of these criminals getting to serve some hard time will slow this kind of scam down a little.


Needless to say, those hard working people on the Scam Investigations Committee have declared BestFxWorld to be a scam and have officially blacklisted them. I'd like to thank Ken and the rest of the committee for letting me contribute to the cause by consulting in the case and writing this article.


Official Scam Finding

Rockwarrior's Original Complaint

Original Source: http://www.forexpeacearmy.com/forex-forum/forex-articles/4014-two-frauds-combine-into-one-new-variety-scam.html

LONG TIME NO WRITE

Hey people! First of all, I am not dead in case you suspect that is the reason naijamarket is stagnant for a while now. What has been happening to me over the past 8 months is worse than death.



Tell me what would the life of an urban professional be like without a reliable, broadband internet connection in this age and time. The answer would be "you are dead to the world".



Well my ordeal started some 7 to 8 months ago. While I was busy doing busi-body and praising and marketing multilinks telecoms data services, little did I know that they where about to stab me straight on my chest. Worst part of it is that their customer service line rings and rings and rings but no body picks unlike at least the likes of Ecobank, Zenith Bank and others that their customer care lines would keep you busy with jingles of other packages they are trying to sell to you, waste your hard-earned credits and answer when your credits are on the brink and never call back when the line drops. You know what I mean, "Your call is number..... 10 on the queue please hold".



Multilinks doesn't have all that paramphenalia and yet no one picks up. When someone picks up you have to come to their office to lay your complaints and kill more time. Long and short of it, I set out to look for the best ISP that would live up to at least 50% of their media hype.



Starcomms was suggested by a friend of mine who happens to use his internet connection for just emails, chat and occasional facebook. I had to abandon my Multilinks Phone I bought for 25k with no second hand value. I quickly got configured to Starcomms. The First two days looked good, after that, its "cannot find server" that displays. Frustration set in for another 2 weeks then it came back to a speed I could manage. A couple of issues kept popping up in-between and just the other guys, customer service is zero. You know with all the engineers and front desk officers whom their ego and complex do not allow to understand the difference between having a job and doing the job you have, its even harder to get a little fix done for you.



Well to cut a long story short, the past 8 months has seen me living the life of a [ISP] prostitute, moving from one to the other in very short and quick time frame (Multilinks, Starcomms, DOPC, Visafone, Glo) and now MTN 3G which can be hopeless when it seize to send or receive data. But I have learnt to manage what I have until it depletes beyong repair as it is with every other services we get in this country - PHCN, NITEL, NNPC, Government, etc. I will survive Nigeria and live to tell the tale.