More info on currency trading...

> Dave,
> Have you received any feedback from Matt? I'd really like to get into this
> business, but, like you, would rather invest the $300.00 it would cost to
> join Matt's program as trading money. Is there everything you need to be
> successful on the dxpowerteam website ? Just wanted your honest/candid
> thoughts ! Thanks for the info.

Sorry everyone, I just realized this thread was still going... I dunno, I read what the others are saying, and just don't see it happening that fast (6-8 months). I started with just under $1000 out of pocket at the beginning of November. Today, just over a couple months later, my DXGold portfolio is worth about $2100. It's going to take a while to build up enough to live off of, but the growth is exponential if you stay on top of it and keep the currency flowing every possible chance you get.

A couple things come into play, the most important of which is the flow of ecurrency through the system. Some weeks, I might get several automatic "in" exchanges and then I might go a week without a single one. Also, when you need to get money out of the system and back into ecurrency, you have to post what is called an OutXchange and then wait for it to be filled. If you don't have ecurrency, you can't make any other trades, which means no $$$. So, it takes 4-5 days for a tiny little $200 OutX to be processed. I can't imagine how long it would take for a larger one to go through.

There ARE other ways to get your DXGold back to ecurrency, but it doesn't involve actually doing exchanges. I really involves swapping DXGold for the ecurrency of new people coming into the business. The problem there is, most new people want to start with very small amounts of money. But, once they build some confidence, you might be able to swap larger amounts such as several thousand at a time.

When I get ecurrency, I spend about 30 minutes max doing as many trades as I can, and then I have to wait another 4 or 5 days to get ecurrency back out again to do more trades. With the small amount I have to work with now, I'm able to make maybe $50 per week (MAX) on trading fees. Then, I make somewhere between 4 and 6% on my portfolio.

The other pain is remembering the end of session every six days. The key there is to get as much currency back into DXGold and buy more shares in your portfolio. They only calculate dividends once each session, so if you forget and miss one day, you have to wait another 6 days.

Don't get me wrong, it's pretty cool, and it CAN make money, but it's not a big bowl of cherries like some people make it out. Also, you CAN learn everything from the DXPowerTeam site. I know because I did and it only took a few evenings of steady reading and doing.

Now, here is the weird part if you really think about it. With DXGold, we're not trading currency for any "customer" whatsoever. We're simply trading currencies with OTHER DXGold merchants who are doing the same thing I'm doing. It's almost like we're just practicing for something bigger right now. It would be like me and a friend just trading american and canadian money back and forth, and somehow paying a fee every time we did it. I still don't quite get how/where the dividends are being created or who is really paying them. It would seem it's all being created out of thin air. I'm also a little nervous about who is actually holding my money when it's all in DXGold and waiting to be exchanged to ecurrency. The company is based in Vanuatu which has very tight privacy laws and there would be little recourse if they decided to walk with the money.

I hope that helps a little more...

Dave