Tagged: Mike Odea (SCAM)
if you are one of his victims, please post your story here.
He succeeded to get “video 1” removed from yt for “copyright infringement”, I should take out some of the pictures and then re-upload part 1, which was much more elaborate.
In 2019, he has scammed loads of people by collecting funds and immediately blowing these out, collecting a commission cut from “Pax forex” along the way.
Apparently, in 2021, he did a similar thing (please provide as many details as possible HERE!).
Also, 2019 was not his first scam, he did the same thing before believe it or not.
Despite he was reported to the SEC and other institutions already in 2019, he was not stopped. How can this be??
It is time to make him accountable. Let’s do it.
so now his “business” is for “sale”?
Hereby, I provide a short summary of some relevant events:
•26/11/2018: You (Mike Odea) state in the title of a youtube video (channel: “Cobra FX”) that you would have a “96% WiN RATE”.
•26/12/2018: You announce the “$2,000 to $100,000 IN LESS THAN 1 YEAR TRADING FOREX” project
•04/02/2019: You post a video on the Cobra FX channel titled “FOREX ACCOUNT PROOF & TRADE HISTORY”
• On the 05/02/2019 you (Mike Odea) agreed to “not trade Gold” on the challenge account (!).
•18/02/2019: You go long Gold on the managed accounts. You further state “I have 2 open Gold buys at 1322 and 1321.” Again, (ca. one week after a first disaster when he traded a short EURAUD position) you over-leverage AGAIN; 150k position on a max. 2.5k account! (NOTE: AGAIN you broke your rules and previous commitment: on the 05/02/2019 you stated “I will no longer be trading gold for challenge”) (!).
•18/02/2019: You state “I entered another buy on gold now at 1324.”
•18/02/2019: You state “FYI I didn’t use my trading strategy on that last gold buy. Sorry about that. I messed up on something. But we’re still good. shoul.d see a lot of support here. I believe we will see 1360 by friday”
•20/02/2019: Gold does not go up as you expected but instead starts to move down.
•20/02/2019: You state “BUY GOLD AR 1340 area”. You also say “that was the pullback gold needed to launch to 1360! Lets get that money!”
•21/02/2019: Gold continues to go DOWN further. Against your expectations of a sharp increase; Gold takes a dive to USD 1,321,
•21/02/2019: You state “I suggest anyone who has buy positions on gold to add to their account to cover margin. I added 1500 to my challenge account to cover margin. The Fed Minutes caused the big srop. They were hawkish on rate hikes”.
•28/02/2019: Gold continues to dive. It breaches the USD 1,321 level to the downside and the next round of client accounts gets BLOWN OUT!
•28/02/2019: You state “BUY GOLD 1316 area!” You also post a video on youtube, showing how on your big account you add another huge position to your already existing long Gold position.
•04/03/2019: Gold went down further and took the USD 1,286 level!!!
•04/03/2019: All other client accounts are BLOWN! Including the ones who topped up!