Discuss 10Kto1MM.com (Henry Liu)

[Teodor Jackson]

Not going to buy his services again.

I managed to triple my account on this great August-September trend.
And meanwhile created EA that did 32% since mid October - 6 weeks.
It doesn't trade often. It doesn't win much. Yet it manages constant profits at 70%+ accuracy and low drawdowns
Maybe I could challenge Henry?

 

[calp]

Final Results from Phase 1

Final (Amended) list of trades taken to get to Phase 1:

aug 28 buy usd/jpy 85.00 sell 84.00 loss 100
aug 30 buy gbp/jpy 130.95 sell 129.75 loss 120
aug 31 buy gbp/jpy 129 sell 128.50 loss 50
sep 8 sell usd/cad 1.047 buy 1.051 loss 40
sep 14 buy gbp/jpy 128.06 sell 50% 130.593 profit 253
sep 14 buy gbp/jpy 128.06 sell 25% 133.099 profit 503
sep 14 buy gbp/jpy 128.06 sell 25% 133.50 profit 544
sep 13 sell aud/usd .9350 buy .9475 loss 125
sep 22 buy usd/chf .9943 sell .9841 loss 102
oct 13 buy usd/cad 1.0090 sell 50% 1.03477 profit 257
oct 13 buy usd/cad 1.0090 sell 50% 1.0200 profit 110
oct 19 buy gbp/jpy 128.10 sell 50% 129.92 profit 182
oct 19 buy gbp/jpy 128.10 sell 25% 132.00 profit 410
oct 19 buy gbp/jpy 128.10 sell 25% 133.53 profit 543
Nov 22 sell aud/usd .9940 buy .9740 profit 200
Nov 2 buy usd/cad 1.0135 sell 50% 1.0250 profit 115
Nov 2 buy usd/cad 1.0135 sell 50% 1.0135 profit 0

Account is up by 59.08%, Phase 2 to start in December, Henry will have a Live Webinar on 29th Nov to update us on the way forward (I guess) - I am loking forward to the next phase with much anticipation.

 

[calp]

But good grief man. Imagine 200 people trying to withdraw 1M$ at the end of his year.
No broker can take these withdrawals. Henry knows this.
There is a way around this - with the 10k formula your account balance at the beginning of a Phase is meant to cover the margin for around 10 trades. So, when your balance starts to increase with compounding, it makes sense to withdraw and only leave enough margin for say 4 trades. At the same time you should be able to pump back margin instantly if required in the event of losing trades eating into your margin. I certainly wont be leaving millions in a trading account - what if the broker goes belly up?
That is why he charges big bucks into his bank account with new subscribers.
Can't see how this statement has any relevance - if Henry can turn $10k to $1m then he can turn $100k to $10m. Even if he makes $1m, this is equivalent to having 664 new members fully paid for 12 months. Whilst Henry is a business man making money through his memberships, this is a drop in the ocean compared to what he can make trading his own system!! In business, what Henry is doing through his memberships is called "providing a passive income". (ie) little or no work involved and money keeps flowing in - makes perfect sense.
This is why I say " Good traders will NOT trade their own accounts" They will trade other peoples accounts and take their 4 pips plus %.
Don't understand this statemenet in connection with the 10k formula. I am certainly trading my own account and so is Henry, No commsiion is paid to Henry. You may be referring to a managed account, this is not one of them. Henry has previously mentioned that there is no intention for the 10k fromula ever being a managed account. Even with the SignalCopy software EA, I still have the full control of my account and can shut down the EA and change lot sizes at will.

Johnny2pips, you say you have Henry's live trades, are you trading them?

 

[Johnny2pips]

No I am not trading his system. His system is great, but I have a gripe with the brokers. You will not be able to withdraw any money over your initial investment.
I have not yet heard of anyone withdrawing over and above their initial deposit anywhere on the net. Have you?
Henry knows this. That is why he charges an initial fee. That is the only way he can make money.

 

[calp]

No I am not trading his system. His system is great, but I have a gripe with the brokers. You will not be able to withdraw any money over your initial investment.
Do you mean to say that if you start with $10k and your account has increased to $100k, then you can only withdraw $10k and no more. What about multiple withdrawals over $10k, is that possible. Can you make 10 x $10k withdrawals over 10 different days, is that allowed? Are you saying that brokers in this case will force you to leave $90k in this account and you cannot have any access to your profits? Johnny2pips, is this what you are saying?
I have not yet heard of anyone withdrawing over and above their initial deposit anywhere on the net. Have you? Anyone out there? Have you withdrawn more than your initial deposit?
Henry knows this. That is why he charges an initial fee. That is the only way he can make money.This depends on the answers to the above questions.

..........

 

[Johnny2pips]

Good and all. I am happy for you and all Henry's followers. I have tried to get in there but am concerned about the withdrawal. What broker will allow a 1M$ withdrawal? Henry knows this, that is why he charges a fee.
I have researched withdrawals on many forums and all. No nix, f-all, nada on any forex websites.

 

[Johnny2pips]

Good and all. I am happy for you and all Henry's followers. I have tried to get in there but am concerned about the withdrawal. What broker will allow a 1M$ withdrawal? Henry knows this, that is why he charges a fee.
I have researched withdrawals on many forums and all. No nix, f-all, nada on any forex websites.

Also, I must add that Henry is a not a Trader but a Marketer. And a BIG time marketer.

 

[calp]

Good and all. I am happy for you and all Henry's followers. I have tried to get in there but am concerned about the withdrawal. What broker will allow a 1M$ withdrawal? Henry knows this, that is why he charges a fee.
I have researched withdrawals on many forums and all. No nix, f-all, nada on any forex websites.Also, I must add that Henry is a not a Trader but a Marketer. And a BIG time marketer.

Oh my god...I give up, from where I come from, brokers are regulated by the Authorities and such a notion as put forward by Johhny0pips is LUDICROUS

I will next post after we reach Phase II, no need to contunue this conversation any more.

 

[Johnny2pips]

Oh my god...I give up, from where I come from, brokers are regulated by the Authorities and such a notion as put forward by Johhny0pips is LUDICROUS

I will next post after we reach Phase II, no need to contunue this conversation any more.

No need to continue with this conversation any more? From where you come from and all.
Geeze man, where have you been? What broker you with? Don't answer as it does not matter as they all the same. No broker will pay out your $1M as this will put them out of business. Most brokers are "In House" and all. ie your money is pooled into their account for their salaries and pleasure.
If there are too many winners, they close their website.

 

[Chaz McHan]

No need to continue with this conversation any more? From where you come from and all.
Geeze man, where have you been? What broker you with? Don't answer as it does not matter as they all the same. No broker will pay out your $1M as this will put them out of business. Most brokers are "In House" and all. ie your money is pooled into their account for their salaries and pleasure.
If there are too many winners, they close their website.

Johnny,

I am sorry you are so jaded and cynical about brokerages. Most brokers do NOT mix in-house and client funds. Most are required to keep client funds in segregated accounts. Most WILL pay out $1M when requested if it's in a client's account. I have made withdrawals of much more than that in my day... and not just deposited funds, but earnings.