A Forex HYIP
High Yield Investment Products/Programmes (HYIP) are flighty little creatures. A majority of them are little more than ponzi schemes, sucking in incoming money to pay off investors, rather than truly investing in any products. The rest of them started out with noble intentions, with traders offering high returns using their trading system, similar to hedge funds. Most of these highly leveraged trading systems (FOREX, futures, options, margin trading), however, can be comparable to handling a knife by the edge. It is very easy for huge drawdowns to occur and when that happens, the trader may end up desperate - and thus convert his HYIP into another ponzi. I used to run a HYIP that encountered the drawdown. Unlike George Soros, I did not have the capital to deal with the drawdown and ended up closing the fund to protect my investors. So when I encountered this Forex-based HYIP, I was quite sceptical. What made me plunge down the initial investment of just USD1300 was the fact that my upl