Go to the section "ASA OFFSHORE OPPS"
Click on "Oceanside Wealth"
Ken: When the program does launch I believe it will be a very unique due to the community matrix which I expect will fill to the 11th level within hours, assuming their server and programing can accommodate such a huge volume.
js: You must join the matrix in order to participate in the passive investment. That's $60 a month. Those of you who join the matrix a day or two into the programme will unlikely be able to cover the $60 a month with commissions earned from your matrix (because once the company 2x10 fills you will get your own 2x10 with no overspill from the Company, but with overspill from leadership above you if that leadership has you in their 2x10). So that means that if you will have to invest something like $600 or more in order to pay the monthly $60 fee as I (js) fully expect them to give you 10% per month on average, not the 20% to 30% that is being claimed.
Below is some further info from my upline:
Oceanside Wealth builder summary
What we know so far about the company and their proposed business:(Accuracy checked by J.D. Admin., thank you Sir.)
1. They use an institutional grade Forex trading program (js: this means a robot software programme). Along with the many years of experience of their trader to bring you returns on your investment.
2. They will be posting monthly performance graphs along with doing live webinars so we can see the results.
3. They will also have a built in front-end matrix with a $60 per month membership fee.
4. You will then be able to add any amount in $100 increments on top of that to go into the program (js: ForEx trading)... There will be no maximum amount.
5. The corporate headquarters will be posted on the web site. No phone number.
6. There is never a promised set return per month, the hoped for average is 20%. The worst month was 3% and that was in April 2008.
7. They are a new Company. There are performance graphs from the software program that they are using for OW. This program has been around for 2 years (js: apparently $6 Million to license, see info below.)
What we know about the Trading program:
1. The software program that they use is 100% automated- meaning that they can set it and allow it to run on its own. It looks at 80-90 different signals before it makes a single trade and reacts to real life current events.
2. They have been using it and watching it live now for around 15 months and the WORST month was 3% in April of this year. The average has been right around 20% per month and the best month around 45%.
3. They have stop losses in place. These are set at 10% meaning that they will never be trading with more than 10% of the account. This makes it Impossible to lose more than 10% of the account at a time.
What we know about the people:
1. Jake from ASA has been in contact with this company for around 6 months. He has endorsed it as a good investment, which for many is enough to make it a buy.
2. The Company Admin in charge is J.D. The forum moderators and question answer people are leverageFx and xx
3. There is a Forex experienced Trader that we don’t know the name of yet.
What we know about the launch:
1. Saturday July 26, 2008 will be the day the company will open to signups for matrix spots. 10 AM EST.
2. There is substantial buzz surrounding the launch and matrix. Experienced investors are also focused on the forex trading returns.
What we know about the Matrix:
1. It is going to be a community force filled matrix for the first ELEVEN (11) levels (OS is the top level, hence 11 total for the 2x10). After the 11th level is complete, it will turn into a regular forced matrix (js: meaning you have to fill it, with the help, if any, of leadership above you, within 10 levels).
2. Everyone must join the matrix before they can invest.
3. You can personally sign up a spouse, family member and anyone else from your computer.
4. No multiple spots in the matrix.
5. Your matrix fees can be paid with your interest earnings
6. The Company will be giving away Cadillac Escalade Hybrids and house bonuses. The matrix is designed so that it pays out 65% back to the members and the other 35% is used to pay for the Escalades!
What we know about the payment processors:
1. Payment processors will include: Solid Trust Pay, U got Cash, Strict Pay, and Alertpay. alert pay will be used for the 1st month only
2. Everyone has to have their own payment processor account in order to sign up at launch.
3. There will be an option for you to send funds from OW member to OW member in your back office.
4. Multiple accounts are not allowed, however signups from the same IP address is ok.
5. The interest will be available for withdrawal on a monthly basis.
6. We can join with one payment processor but have our earnings deposited to another.
js: Now, I posted some comments in the ASA forum about the sixty monthly fee and then go sidetracked into talking about ForEx. One person responded with a very intelligent explanation and I post it here (hope he does not mind):
"I have not been in a position to view the trading system and I have no way to substantiate any of the claims made about it. However, JD did mention that the license for this technology alone would cost $6 million and I'm willing to accept that as the truth (js: why on earth would you?). If that's the case then it is obviously a very valuable technology as value in this industry is determined by results.
As to why they're willing to offer it to us for $100/mth (js: ummm.... $60 a month) instead of selling to large institutions, you really have to have an understanding of how compensation within this industry works to see the huge value that exists for the company.
First of all, you have to look at the capital invested by the whole group and not the individual amounts that make up the whole. If 10,000 people join OSW, you're looking at approximately $600,000 monthly that will be flowing into the trading account ( remember that all matrix commissions will not be paid out to members but will instead be invested on their behalf, with the principle held for 12 months ).
Now let's assume that the average member deposit into the trading account is an additional $1,000 (js: well, the minimum will have to be about $600 per member). This brings the account to $10,000,000 with additional deposits of $600,000 monthly ( which will grow every time a new member joins ).
I don't know which Forex Broker will hold the account for OSW but I can pretty much guarantee that the company has established a relationship where they're paid out of the trading profits as well as on the spread. On a $10 million account with ultra conservative leverage, it's likely that they'd be trading a minimum of 100 standard lots per entry. At even a 1 pip rebate the company would be receiving $100 in referral commission for every trade placed. If they place 20 trades per day which is not uncommon for a "scalper", then that's $2000 in corporate income regardless of whether the trade is profitable or not.
In additional if they have a profit sharing a arrangement they will get a percentage of the monthly growth on the account. Even if their cut is 5% of the profit it will produce significant income given the account size.
There are plenty of reasons why the company would offer this service to us instead of selling it to an institution. As the membership grows and invested capital increases, so to will their revenue.
xxxxxxx (name deleted)
ps. I completely agree with you that people should not be expecting more than 10% monthly. If they can achieve more then so be it but just consider that gravy."
I have posted the above because I want you to know what you're getting into from the start. If you ignore the above, and come back and complain two months later, I will just have to ignore you. Got it? Good.
Now go out and play.
Here I am after a long hot slow summer. Starting to cool off a little now but this heat still makes it hard to move around too much. Haven't blogged about ...
1 year ago