Hi everyone.
I am Marie, one of the founding three of 5 Star Signals. Specifically I am the head analysis and in charge of all things trading. As some of the others in the team put it "The one who understands the squiggly lines on the charts".
Nice to meet you.
I agree with a lot of things Peterp said.
they offer you training etc on how to trade with Forex. Thats their product: selling training programs.
This is correct. We also do what is know as a "signals service" and that is where we tell our members the trades we will be taking and they can follow along and make the same trades as we are. It means even if they know nothing about trading they can make money copying our moves (as long as we are making money of course, there are times we do very well and there are times we lose but overall we come out on top, or at least we have to this point and our traders have traded for over 20 years combined).
What they do not tell you is most people loose money.
This would depend whom you spoke to I suppose. We do keep a tight eye on our affiliates and take a hard line with anyone who is making misleading claims.
I have been running forex services for a number of years (long before 5SS but 5SS is the first time I have welcomed in others to affiliate and added levels. Before that I have always just ran my own traditional subscription service) and I would have no one under the disillusion that trading any financial assets isnot something most people have a hard time with.
We do state on our website in our T&Cs and at the foot of each page that trading on leverage is risky and may not suit everyone (this is a legal requirement of our industry)
http://www.5starsignals.com/terms-and-conditions/Statistics show that 95% of all traders loose money trading. It is the hardest business to succeed in.
I am not sure of the accuracy of this statistic but I would not doubt it. From my personally experience this is not far off the mark (and I have a trading group with over 10,000 people in - I have encountered my fair share of wannabe traders.
Forex is a zero sum industry though, meaning that every dollar someone loses someone else wins. If 95% are losing and 5% sharing all that money you can see how being on the right side of this is mightily attractive.
The very first thing we aim to drum into new people is risk management, it is paramount. Using our suggested risk management you would have to lose over 50 trades in a row to lose your initial investment.
See -
http://5starsignals.com/percentage-based-money-management/ -
http://www.5starsignals.com/risk-control-and-lot-sizing/I think my personal worst ever losing streak has been about 15 trades and none of my signals services have ever reached 10 losing trades in a row. There is of course no way to say 100% for sure we will never lose 50 + trades in a row but the mathematical probability of it based on personal history and knowing the probabilities of the setups we trade I would estimate the chances down in the nano fractions of a percentage point.
illegal MLM Forex.
I have to strongly protest against our name being linked with illegal shams that usually just use forex as a front for ponzi schemes. We are in no way like that, we are fully compliant with all laws pertaining to our industry.
where only the top will enrich themselves.
I know you are focusing mainly on the MLM aspect here but I'd like to draw your attention to the fact that I (and all our traders) trade the signals we give out - we are just sharing what we are doing, so if our members are losing, so are we.
It is very much in our personal interest to make profits from trading. Furthermore, I am very much on the front line with direct contact with our members and their feedback so I experience the joy of them winning and the frustration of losing trades. I care deeply about our members. Many of them in fact are people I have become friends with over the years often with them having been members of my previous services.
Another very simple fact is this ... if our members do not make money - they will unsubscribe.
We sell a Bronze level membership at $27 paying out 80% of that leaving under $5 per member profit. This is only enriching us if we can maintain a big members base.
The bottom line (literally, I am about done typing
) here is that we only make money when our members make money, don't knock it until you have tried it
Demo accounts can be used to simulate the results trading with us without any risk of real money and I would suggest this may be the best way to determine whether or not 5SS will be profitable for you.
