Beware of Haba's Managed Account!

[Neo]

I feel I should share with the group that you should all beware of Haba and his "managed account" service. I'm not sure why his thread is locked, I would have posted there instead, but for whatever reason it is locked. (Ash, if you're reading this, can you please look into it?)

I was silly enough to entrust him with my account of $3,150. I bank wired him (I should say "them", as the bank account is a joint account with 2 people's names) $315, which was 10% of my account size at the time, as they require a 10% fee to begin trading the account. Long story short, less than a week later my account was blown to $0.

After making initial contact and sending them my money/account password, I did not hear back from them once. I have written 5 emails (even before the account was blown) and attempted multiple times to contact him via Skype...but to no avail...they just did not answer. The first couple of days looked rather promising as you can see from the attached pics, there were some big wins, but I wanted to ask them at one point if I should close the trades they had taken at important news that were going very badly. I did not want to pull the plug on the trades myself as I had no idea what they were basing their entries on.

I don't believe that Haba (Moch) actually trades the account himself...at least not alone. I monitored the account as it was being traded (The GU is the only pair they trade)...and there were some rather odd trades entered, like 15 minutes before NFP news, which resulted in a 300+ pip loss. There were trades entered around the clock, middle of the night, middle of the day, etc. The style of trading was hedging with multiple sell stops and buy stops pending and multiple buy/sell orders active at the same time. If my broker did not allow hedging, I'm not sure what would have been the result of their trading style. I suspect that they use EAs to enter their trades as they seemed mechanical...one entry right after being stopped out of another, etc, unless they had someone sitting at the computer in shifts...but many of the entries were at the most terrible places, like at the top of a strong upwards thrust and vice versa.

I suspect that they doctor the MT4 stats that they have on their site and profile, as there were TONS of losses when it came to "real life"...HUGE losses while they traded my account. I will post pictures of what the stats really look like--at least on my account.

Well, I'm $3,465 poorer and feel like I've been taken for a ride. Hopefully my experience will help others not fall into the same predicament. I went into this situation thinking that I couldn't afford to lose anymore money...as it was all borrowed on a credit card anyway...and so thought that by giving my account to a "professional", that I could dig myself out of the hole I already was in.

Regards,
Neo

[AshFX]

Extremely sorry to hear about this Neo. It looks as if you must be the first person he's scammed. Either that, or you must be the first person to be brave enough to to openly admit his service is a piece of shit.

I remember when he joined this forum he tried posting in the main section but I stopped him from doing so. The problem is I can't check out every service in the free ads section, it's virtually impossible for me to take a position on which one is good or bad. The aim is for the forex traders on this forum to make a judgement and post their feelings and opinions based on sound reasoning, and with evidence if possible.

I didn't lock his thread, he locked it himself, knowing that a storm was brewing; the scamming son of a gun.

I do appreciate you coming out with this, and what I think I need to do is to create a dedicated scam section. Even if one person is saved from a scam, it'll be worth it.

One positive from this is, you'll be much more cautious next time, and anyone reading this who might be prone to gullability will hopefully also take a more cautious approach.

Look at Madoff. This just proves one thing - even if they have a good reputation, things still screw up, never mind if they have no reputation at all.

[Webster]

WTF!!!!

No one cares about you more than you.

Your in this forum...take the time to learn how to trade correctly yourself.


There's good news....I have discovered a great and powerful system

that is based on support and resistance and the " confluence of events"

over multiple time frames that I will share with anyone who is interested.

I believe it dovetails very well with this system. Send PM.

Webster
E$P$

[Neo]

Thanks for the answers, guys. It seems that my main lessons trading the Forex (almost 1 year now), have been learned through making mistakes. I can't wait till I can break out of the mistake-making chapter and advance to the profitable trading chapter! I've lost a little over $15,000 since starting about 10 months ago.

Hopefully at least others won't make the same mistake with Haba. I thought one poster said they found him on zulutrade as one of the signal providers...and that his history was flawless. Makes me wonder.

[Neo]

Here is further confirmation from others who tried Haba only to find that he dwindled their money in 2 days:

http://www.tradingsystemforex.com/ma...d-account.html

http://www.forexnirvana.com/f23/managed-account-1156/

Ash, do you think you can unlock Haba's original thread in this section so we can add these links and further commentary in case anyone stumbles onto his offer and does not see these warnings?

Neo

[AshFX]

Originally Posted by Webster

WTF!!!!

No one cares about you more than you.

Your in this forum...take the time to learn how to trade correctly yourself.


There's good news....I have discovered a great and powerful system

that is based on support and resistance and the " confluence of events"

over multiple time frames that I will share with anyone who is interested.

I believe it dovetails very well with this system. Send PM.

Webster
E$P$

Easy with the sarcasm dude.

[AshFX]

Originally Posted by Neo

Here is further confirmation from others who tried Haba only to find that he dwindled their money in 2 days:

http://www.tradingsystemforex.com/ma...d-account.html

http://www.forexnirvana.com/f23/managed-account-1156/

Ash, do you think you can unlock Haba's original thread in this section so we can add these links and further commentary in case anyone stumbles onto his offer and does not see these warnings?

Neo

Yep, unlocked.

[Neo]

Thanks Ash, I'll add something to it right now.

[haba]

[Neo]

Haba ( Ir. H. SUPRIYANTO / MOCH. HAMID USMAN ),

You're back?

Are you still a devout Muslim?

[haba]

December 2009

December 2009

[Neo]

How do you explain these real results of your trading?--
http://www.tradingsystemforex.com/ma...html#post19426
http://www.forexmoments.com/forums/6564-post13.html
http://www.forexnirvana.com/f23/managed-account-1156/

These real-life "live" accounts look VERY different than everything you post on your promo pages.