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Forex Experiment #2: Instaforex PAMM Account :-)

Prospera · 626 · 60046

Prospera

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A bit of a backgrounder:

Good Steward, akoni, zaragorath and myself  have banded together (hah!) to fund the Instaforex PAMM account I've opened that BFX will be managing. It is meant, basically as an experiment:  to test the waters to see how BFX will perform as a forex fund manager for six months.

Ok, the first order of business is to fund that account. My preference is to use Moneybookers since I already have an account with MB. As some of you may already know--before this pool came into existence-- I was planning to use my credit card to fund the PAMM account. Kaya lang, meron palang verification process for the credit card which would take some time.

Now, I've inquired with Ping and he tells me that PayManila might not be able to do MB transactions  at the moment and suggests Liberty Reserve instead.

However, there's a guy (handle is "goldenpay") who is  offering MB for sale at this rate today: 1 MB=46.75. Thus, for $25, the total cost would be PHP 1168.75. Divide that by 4 and the amount we'll each have to invest is PHP 292.20 assuming the exchange takes place today.

What I'd like to know, though, is if anyone in the forum has done any exchange with him?

Alternatively, if anyone in the pool has $25 worth of MB, what we can do is  send its equivalent in pesos to his bank account. Then, he can  send the $25 to my MB account so that I could use it to fund the Instaforex PAMM account.

Any thoughts?



« Last Edit: Feb 09, 2012, 09:18 AM by FutureGizmo »


BFXGeneralConsultant

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Reply #1 on: Jan 12, 2012, 10:00 AM
A bit of a backgrounder:

Good Steward, akoni, zaragorath and myself  have banded together (hah!) to fund the Instaforex PAMM account I've opened that BFX will be managing. It is meant, basically as an experiment:  to test the waters to see how BFX will perform as a forex fund manager for six months.

Ok, the first order of business is to fund that account. My preference is to use Moneybookers since I already have an account with MB. As some of you may already know--before this pool came into existence-- I was planning to use my credit card to fund the PAMM account. Kaya lang, meron palang verification process for the credit card which would take some time.

Now, I've inquired with Ping and he tells me that PayManila might not be able to do MB transactions  at the moment and suggests Liberty Reserve instead.

However, there's a guy (handle is "goldenpay") who is  offering MB for sale at this rate today: 1 MB=46.75. Thus, for $25, the total cost would be PHP 1168.75. Divide that by 4 and the amount we'll each have to invest is PHP 292.20 assuming the exchange takes place today.

What I'd like to know, though, is if anyone in the forum has done any exchange with him?

Alternatively, if anyone in the pool has $25 worth of MB, what we can do is  send its equivalent in pesos to his bank account. Then, he can  send the $25 to my MB account so that I could use it to fund the Instaforex PAMM account.

Any thoughts?





A Million of thanks for making this GREAT THREAD..

Please consider these details for further preferences:

"THESE ARE THE PROCEDURES on how to INVEST"
Secure first your method of depositing money directly in INSTAFOREX.
=>Payment via Bank Card - BANK CARDS
=>Currency Bank Transfer - BANK WIRE
=>Payment via MoneyBookers (USD) - MoneyBookers
=>Transfer funds via e-currency account, I recommended this e-currency account for faster transaction in terms of money transfer:
a. Liberty Reserve - sign up to www.libertyreserve.com
b. AlertPay - sign up to www.alertpay.com

To fund dollars credit of your e-currency account ($25) for the sake of fellow Filipino Investors visits the site of a the following: Filipino Trusted Exchanger: www.PayManila.com & www.PinoyGoldExchange.net, Outside Philippines, choose here: www.libertyreserve.com/en/exchangers

"AFTER SECURING YOUR METHOD OF PAYMENTS"
=>Sign-up for new account, visit: www.instaforex.com
=>Log-in into your Client Cabinet.
=>Click Deposits.
=>Click your method of payments (LR or AP), fund now your $25 Money.
=>Return into your Client Cabinet.
=>Click PAMM System.
=>Click PAMM Investor, register as PAMM Investor
=>You are now PAMM Investor, click the link below

http://instaforex.com/pamm_monitoring.php?trader=7160663
                =>>Click the INVEST button<<=



Respectfully yours,
BFXGeneralConsultant




WARNING WARNING WARNING

"I'm NOT accepting money directly from YOU, all fundings are protected by PAMM System & directly deposited to InstaForex.com.. and your money is YOURS and no one can withdraw except YOU.."




« Last Edit: Jan 12, 2012, 10:22 AM by BFXGeneralConsultant »


Prospera

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Reply #2 on: Jan 12, 2012, 10:37 AM
Waiting for reply from Ping and/or goldenpay re funding the PAMM account.

Good Steward has a question: "Is it true that despite different "batches" of $25, PAMM account can monitor each one separately?"

Yes, as far as I know. Although I've never had a PAMM account, my understanding is that this MT4 feature is used by fund managers trading many accounts simultaneously, sizing each client's position as a percentage of the client's account balance. BFX can correct me if I'm mistaken.

I have a question for BFX myself: If I download the Instaforex platform, will the account history show up in the account just like it is for a non-PAMM account?


BFXGeneralConsultant

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Reply #3 on: Jan 12, 2012, 11:03 AM
Waiting for reply from Ping and/or goldenpay re funding the PAMM account.

Good Steward has a question: "Is it true that despite different "batches" of $25, PAMM account can monitor each one separately?"

Yes, as far as I know. Although I've never had a PAMM account, my understanding is that this MT4 feature is used by fund managers trading many accounts simultaneously, sizing each client's position as a percentage of the client's account balance. BFX can correct me if I'm mistaken.

I have a question for BFX myself: If I download the Instaforex platform, will the account history show up in the account just like it is for a non-PAMM account?

How to monitor your Investment?
Just click our BFXGeneralConsultant link... http://instaforex.com/pamm_monitoring.php?trader=7160663
Below the GRAPH, there's a tab "Current Investments", "History Investments" & "Trader Actions History"

You can check your date started,
You can check how much you earned/profits,
Everything is here..etc..
And not only the Investors, all transactions can see in public.. TRANSPARENT..

Above the GRAPH..
You see the tab "Balance & Equity", "Profit Percet", "Distribution of Funds" & "Trades"
Click the "Trades" button, you can see my entries...

Respectfully yours,
BFXGeneralConsultant


Prospera

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Reply #4 on: Jan 12, 2012, 11:50 AM
BFX, it turns out I have an Alertpay account that I've never used.

Ang tanong ko, kailangan ba more than $25 ang ideposit ko dito to cover fees so that the PAMM account will be funded with the $25 you require as a minimum deposit?



BFXGeneralConsultant

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Reply #5 on: Jan 12, 2012, 11:52 AM
BFX, it turns out I have an Alertpay account that I've never used.

Ang tanong ko, kailangan ba more than $25 ang ideposit ko dito to cover fees so that the PAMM account will be funded with the $25 you require as a minimum deposit?



Yes, you must have extra funds in your AP.. to cover AP charges to InstaForex.. you can check in InstaForex how much the fees.. Thanks


SAGAD

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Reply #6 on: Jan 12, 2012, 12:13 PM
Ms. Prospera...

quick question here, why is this "Forex Eperiment #2"...

was there a #1?

where is that thread, i'm curious to see what happened...


Prospera

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Reply #7 on: Jan 12, 2012, 01:33 PM
^Hi, Sagad. This is going to be my second experiment.

If you're interested in the first one, do a search for the thread "My $50 Oanda Experiment" which was a weekly chronicle of  my  live trading with that broker for a period of 60 trading days.


BFXGeneralConsultant

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Reply #8 on: Jan 12, 2012, 01:35 PM
^Hi, Sagad. This is going to be my second experiment.

If you're interested in the first one, do a search for the thread "My $50 Oanda Experiment" which was a weekly chronicle of  my  live trading with that broker for a period of 60 trading days.

Nabasa ko na pahapyaw Experiment#1 mo.. your a GOOD Trader..
« Last Edit: Jan 12, 2012, 01:41 PM by BFXGeneralConsultant »


jerbersoftfx

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Reply #9 on: Jan 12, 2012, 02:12 PM
im getting excited with this experiment. good luck to everyone. i'll be monitoring this thread daily. :cheers:


BFXGeneralConsultant

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Reply #10 on: Jan 12, 2012, 02:23 PM
im getting excited with this experiment. good luck to everyone. i'll be monitoring this thread daily. :cheers:

You are in the right track.. keep on monitoring.. Thank you very much..


Prospera

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Reply #11 on: Jan 12, 2012, 02:27 PM
Attention, Pool Members:

I've sent a request to PGX to buy USD30 of Alertpay e-currency to fund our PAMM account at Instaforex.. Why $30? I'm just making sure that if ever extra charges will need to be paid, we would still be able to comply with the $25 minimum requirement of BFX's managed forex account. Anyway, maki-credit pa rin naman whatever amount is left after deductions, if any.

This is the amount I'll be depositing tomorrow to PGX's Metrobank account: PHP 1395. Divide  this amount by 4 and we get PHP 348.75 as our individual contribution to the pool.

I'll PM you shortly my Metrobank account number so you can deposit the amount of PHP 348.75 to it, hopefully,  by tomorrow also.



BFXGeneralConsultant

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Reply #12 on: Jan 12, 2012, 02:30 PM
Attention, Pool Members:

I've sent a request to PGX to buy USD30 of Alertpay e-currency to fund our PAMM account at Instaforex.. Why $30? I'm just making sure that if ever extra charges will need to be paid, we would still be able to comply with the $25 minimum requirement of BFX's managed forex account. Anyway, maki-credit pa rin naman whatever amount is left after deductions, if any.

This is the amount I'll be depositing tomorrow to PGX's Metrobank account: PHP 1395. Divide  this amount by 4 and we get PHP 348.75 as our individual contribution to the pool.

I'll PM you shortly my Metrobank account number so you can deposit the amount of PHP 348.75 to it, hopefully,  by tomorrow also.



A million of thanks for supporting BFXGeneralConsultant!!!


zaragorath

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Reply #13 on: Jan 12, 2012, 02:32 PM
wait lang guys kinda busy with school, i already made the accounts, ill do the transactions before this weekend para in na ako next week:)


BFXGeneralConsultant

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Reply #14 on: Jan 12, 2012, 02:36 PM
wait lang guys kinda busy with school, i already made the accounts, ill do the transactions before this weekend para in na ako next week:)

That's GOOD.. you're a part witness in our Forex Trading Performance..
Thank you very much Sir Zaragorath!!!
« Last Edit: Jan 12, 2012, 02:39 PM by BFXGeneralConsultant »


 


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