Adventures In MPDW Land
Well, I'm going to split up my 'Solid/Real Investment Programs' column up into three tiers, tier one being the highest tier/best tier, tier three being the 'probably real' tier. Bear that in mind!
What finally influenced me to do this is the current MPDW situation. Here's a mid-week newsletter from earlier this week:
"MPDW is growing, as expected, into a larger club.
After consulting with members in conference and via
email about potential changes to raise the caliber
of clients we serve, the below information is
official notice of the improvements added to MPDW.net.
Some important decisions to further our stability
and ability to continue producing consistant returns
while maintaining trade integrity have come to pass.
Let's get straight to the point, many members have
been using our sell-back feature as a way to compound
returns, then sell back everything at the end of each
month and this makes our monthly drawdown impossible
to predict. We are changing some features to eliminate
this challenge so trades are not affected.
Effective today March 14th 2006, all units are now
in a tracking system which notes how many weeks of returns
each unit has received.
Each unit must now mature for 26 weeks.
All units start at 0 weeks maturity today.
This new feature applies only to sell-backs.
You may still withdraw from your Returns Balance.
# 2)
We have raised the minimum purchase to 20 units.
(This is for New Members Only)
# 3)
Minimum withdrawal of returns is now 3 units.
# 4)
There are no more emergency sell-backs.
Please read through this information carefully
a few times to let it soak in and then visit our
private forum or conference room to ask questions.
Anyone who has a blog, newsletter site etc etc. needs to
be updated with these new changes asap.
Come visit us in the Conference Room when you have time.
We really enjoy getting to know each and every one of our
members. You get to participate by offering your opinion
and you also learn more about our entire group as a whole. "
Before this, I have reported before on the controversy around MPDW and their promises to disclose trading results, etc. and then giving access to a small $20 K account which had nothing to do with the main of MPDW. There's been lots of little discrepancies. Things like that.
I corresponded with the admin and liked him, but I will admit there were some points that sounded a little vague. There could be legitimate reasons for this but if we are to consider the past as a teacher we must consider the lessons - and things like this can be major yellow/red flags.
Now these sudden changes, without a chance for the users to have a say, have made a lot of people jumpy and angry. And at first I thought we were in deep water and this was a definite red flag.
However, MPDW has now posted in their forums that any users unhappy with the changes can be bought out completely by MPDW. Fair enough, if they go through with it.
I'm going to let my little stake ride. I still like MPDW. No one has ever signed up under me so I don't need to feel guilty about referring people to it! :P However, due to the discrepancies and weird circumstances it will be the first program in "Tier Three."
If you've got pumped up accounts in quality programs, and have money to splash, I wouldn't hesitate recommending a minor spend in MPDW. But anything more I would not recommend (relative to your accounts/money.)
We'll see how it all rides out then!
What finally influenced me to do this is the current MPDW situation. Here's a mid-week newsletter from earlier this week:
"MPDW is growing, as expected, into a larger club.
After consulting with members in conference and via
email about potential changes to raise the caliber
of clients we serve, the below information is
official notice of the improvements added to MPDW.net.
Some important decisions to further our stability
and ability to continue producing consistant returns
while maintaining trade integrity have come to pass.
Let's get straight to the point, many members have
been using our sell-back feature as a way to compound
returns, then sell back everything at the end of each
month and this makes our monthly drawdown impossible
to predict. We are changing some features to eliminate
this challenge so trades are not affected.
Effective today March 14th 2006, all units are now
in a tracking system which notes how many weeks of returns
each unit has received.
Each unit must now mature for 26 weeks.
All units start at 0 weeks maturity today.
This new feature applies only to sell-backs.
You may still withdraw from your Returns Balance.
# 2)
We have raised the minimum purchase to 20 units.
(This is for New Members Only)
# 3)
Minimum withdrawal of returns is now 3 units.
# 4)
There are no more emergency sell-backs.
Please read through this information carefully
a few times to let it soak in and then visit our
private forum or conference room to ask questions.
Anyone who has a blog, newsletter site etc etc. needs to
be updated with these new changes asap.
Come visit us in the Conference Room when you have time.
We really enjoy getting to know each and every one of our
members. You get to participate by offering your opinion
and you also learn more about our entire group as a whole. "
Before this, I have reported before on the controversy around MPDW and their promises to disclose trading results, etc. and then giving access to a small $20 K account which had nothing to do with the main of MPDW. There's been lots of little discrepancies. Things like that.
I corresponded with the admin and liked him, but I will admit there were some points that sounded a little vague. There could be legitimate reasons for this but if we are to consider the past as a teacher we must consider the lessons - and things like this can be major yellow/red flags.
Now these sudden changes, without a chance for the users to have a say, have made a lot of people jumpy and angry. And at first I thought we were in deep water and this was a definite red flag.
However, MPDW has now posted in their forums that any users unhappy with the changes can be bought out completely by MPDW. Fair enough, if they go through with it.
I'm going to let my little stake ride. I still like MPDW. No one has ever signed up under me so I don't need to feel guilty about referring people to it! :P However, due to the discrepancies and weird circumstances it will be the first program in "Tier Three."
If you've got pumped up accounts in quality programs, and have money to splash, I wouldn't hesitate recommending a minor spend in MPDW. But anything more I would not recommend (relative to your accounts/money.)
We'll see how it all rides out then!
posted by chancer at 2:12 PM
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