On their blog, Customer Identification, Identity Document Review, they have stated that they have already implemented CIP and request customer to upload their identification.

When I checked my account, there was a spend restriction and in order to lift that spend restriction, I had to upload my documents….

Which I did… so I guess eGold is on it’s way to regain back it’s credibility… We shall see if merchants will continue to use eGold….

In the mean time, I have to start strategizing my HYIP escapade again…. hehe

They are slowly putting into place what they have promised they would do to improve the credibility of eGold currencies. They have since recently (19 Sept 2008) enhance their Customer Identification Program and also working with KPMG (One of the Big Four Firms) to improve on their Anti Money Laundering Program.

I guess there are still a lot of work to do on eGold’s behalf.

Now these are great news, especially for me as I am still holding some eGold in my account. This could be a risky opportunity as I mention before but it seems like exchangers seems to have gloomier news than I have currently and they don’t seem to want to share it.

I am concluding this because because exchangers seem to be lowering their selling price for eGold… It makes no sense… with this official news from eGold I would assume that price for eGold would maintained on the ‘wait and see’ stance.

So either it is a good opportunity or these exchangers have much more bad news about eGold then I know… or it could just be a simple demand and supply for this currency…

Hmmm……

Over the past few months I have been mixing, gambling, forex and also internet into this site. But since becoming a domainer March 08 this year, I have already bought quite a few domains which I would like to develop it properly…

So some of you will see some main articles missing like my roulette system review, forex and also my internet escapade entry. I will be slowly moving it to my other domains, but I was thinking of linking in back here to my site via RSS..

Well… back to work…

So screw it… I shall take that page down for the time being…

Or maybe not, I guess it should be a reminder of how crazy HYIP is…

Contemplating on whether I should start funding the new AlterGold account, which seems to be the spreading like wild fire in HYIP… Shit!! That means dumping more money into HYIP!!

Have been so busy trying to make money online that I completely miss out on the happening so eGold.

1. A New Beginning
2. e-gold Team Pleads Guilty, Case Over But Biz To Survive
3. E-Gold Founder Pleads Guilty to Money Laundering

I just got reality to hit me hard, because of all this many exchangers have stopped making out exchange for egolds and those who would be doing that exchange are offering crazy crazy rates, like 90% to 95% service fee.

Damn!! Now my egold is stuck and the value of my egold is almost close to nothing…

And I thought I was happy and proud that I manage to come out in profit when I restarted playing my HYIP escapade.

This sucks… and it really sucks bad.

Nevertheless, I believe there should be an opportunity somewhere in this situation. As an old Chinese saying goes, ‘With crisis comes both danger and opportunity’.

This is Chinese Character for Crisis, and each means danger and crisis.

WIth egold in crisis at the moment, there is a danger in losing ones value of gold, but on the other hand there also should be opportunity that exist in this situation.

Having known what the danger is, which is losing the value of my account, I also thought if there were any opportunity that might come out of this situation with egold.

Now it has been said that, eGold will revamp their policies to be in line with rules and regulations set to deter money-laundering ,child pornography and all the other vices which has eGold got stucked with all these years of operation.

So they set a deadline to complete the policies reforms by November 2008 which hopefully carries some weight in the sentencing of the three directors who pleaded guilty. (Their sentencing would be on the 20 November 2008)

With that in mind, I believe eGold should get itself back on track in the next few months and hopefully by then the price would be stable and improve once again.

Now I have notice that there are some people or rather exchangers who would not mind holding on to eGold, before firstly it has already been backed by gold, without a doubt even though, the founder and it’s directors are or will be in jail, life SHOULD go on with egold no?

I mean, the gold that we are suppose to have in forms of digital currency just can’t disappear right?? Unless, some fucked up government will confiscate it and take it for themselves. Or if egold currency was never backed up with gold.

Anyway, according to Douglas Jackson, the gold reserve are stored in Europe so the US gomen might not be able to touch it.

So, it is HIGHLY LIKELY that eGold would stablize itself and so will the price or exchange rates provided by the eCurrency exchanger.

With that in mind, I believe it will be an opportunity to start accumulating slowly some more eGold and then hope to sell it come end of the year when price would be good.

The simple principle of buy low sell high…

Does that sound like an opportunity to you??

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I fumble with my liteforex account with another new Forex EA. Forex EA Tracer (http://www.forextracer.com/)…. *Please do not get this EA* You can’t control the lot size, and the backtesting result was not that impressive. Lost f*@king 30bucks on two lousy trade…. Well, it’s small money…. and I got my refund from Clickbank… Seriously not worth the time and effort.

But hey… I guess you can try

Sighh…. Oh well… at least my Interbank and Masterforex recorded profits….

Surprisingly, LargeSum is still going strong. But I guess not for long…. still I can’t resist the temptation to reinvest in LargeSum again….

Secondly it’s SafeAtom. 2% daily!!! Something tells me that it is fishy…. but it has been around like for 200 plus days….. So why not…. hehe

It will take me 50 days to recoup my capital… after that it is profit…. We shall see…..

This time round I think I will go in small. As in only two programs for the time being until these two programs dies off or until I see something that comes out of my HYIP radar…..

Hmm…. I realize that my HYIP portfolio performance page is not exactly quite up to date….. I will have to amend it. *mental note*

I also have three forex brokerage account

1. Interbank – Main Mini Account
2. Masterforex – Main Micro Account
3. Liteforex – Secondary Micro Account

I use my micro account to test the forex EA live. Also because I still had some funds from eGold I though it would be a great way to utilize my funds, while testing it live with small capital.  Just to see if it can work like a normal HYIP.

I only upgrade an EA to my live mini account, when I have tried and tested it either via backtesting or forward testing on my micro account.

So here it is…. My forex EA that I am currently using.

1. EA Shark
2. EA MTF
3. EA Trendstuffer

Forex EA that I have tested with not so great result and have dropped

1. EA Touch The Sky
2. EA Prophet
3. EA Goldminer
4. EA FX Advisor
5. EA Robo
6. EA ForexAutoPilot

I guess I will be doing a write up on the EA above soon.

Note: I have just gotten the new version of EA ForexAutoPilot and will be testing it out soon….

I guess it is my fault. Too must testing and tweaking on my live account.

I previously mention before, if a forex EA is that good, base on their testimonial and forward result, then why not straight away put it on live?

Yes, that was the principle I went on. And to make matters worst, I was greedy, I committed on of the SINS in trading….. I overtraded.

Even if you have the best forex EA around, I still should not overtrade. EA were made to trade automatically for you on a 24 hour market, and thus, prudence must be taken to PROTECT YOUR EQUITY/CAPITAL. That was the main and number ONE rule that I broke.

So, one piece of advice here is, even though Automatic Forex Trading are now possible, one must not treat it as a cash cow machine and think that it is the holy grail to make money from the market.

Number One Rule should also apply on automatic forex trading. DO NOT OVERTRADE. (mental note)

Ok.. after 4 months of automatic trading while I did not lose much, it is still a lost. Profits wiped out. ?

Anyway, here is my month to month performance.

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Sighhh……..

As you can see, after 3 months of trading with forex EA I am back to square one.

I have posted my statement here for the world to see what I have done with my account. Well, the history is like this. I started out with Forex EA Shark. It was pretty impressive and I have manage to secure quite a good profit.

Then later on I bought into another EA Touch the Sky and the result was pretty erratic but my EA Shark helped in so many ways. But because of the new EA Touch, I had to reduce the number of lots for EA Shark because I learned that you only risk about between 2% to 3% of your equity.

I intend to stay in this forex game for quite sometime so I am not going to blow my equity so fast.

Anyway, at the height of my profitability, I though it would be a great idea to test out this new EA MTF. And that was when it turn out to be a nightmare. On top of that, EA Shark also took a beating last month. So every EA took it’s toll. And thus, I had to deactivate all the EA and go back to basic and step one again.

Step one is to reactivate EA Shark and leave it to work as it has proven over the pass three months to be very consistent.

Step two is to go back to basic which is to backtest EA MTF and find the best settings before I go LIVE with this EA. Yes, I did say that why should we backtest an EA when the author has already tested it out and publish his results.

Well, I guess for this I need to backtest it and tweak it in such a way that it would suit my account size. EA MTF apparently uses a very big drawdown which is about 30% which I do not intend to do. Just see my statement graph at the bottom and you will notice that if I do close it all out, this is what I am left. Almost $150 wiped out just like that…..

So back to basic with this one until I can find the right settings…. and this particular EA is not as straight foward as EA Shark.

Oh… and also I deactivated EA Touch the Sky because it was not profitable neither was it losing me money.

Even though I am still up by 16 bucks, I think some corrective measures are in order don’t you think?