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Discuss 10Kto1MM.com (Henry Liu)
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General discussions of a financial company
dkami
Sergeant
- Messages
- 757
I must add i do think the system to turn 10kto1mm is relistic and can be done if you follow the table(phases)but we are just not getting good trade signals from Henry to get through the phases with my 10kto1mm account i will still follow the table with Henry and my own trades to reach the goal i only reached phase 2 last friday as i only started with 8k
Teodor Jackson
Sergeant
- Messages
- 222
Well done! My congratulations.
Yes, you're right - you can do your own challenge.
But I would be more realistic about time frame and intermediate goals.
Henry's Money Management is crafted to impress rookies. At first sight it looks so professional...
But it's a mixture of goals, money management and wishful thinking.
Throw out all the lots and pips. Define goals first.
Only then you can create Money Management based on the foundation.
But don't mix it. And don't fix it to pip targets or fixed lots. This depends on market conditions, you have to be flexible as the market is.
Remember he doesn't care what pair he trades and doesn't adjust position size to match pip value value while insisting he keeps risk limited to 8%?
This is true in GBPUSD or USDJPY. But what about GBPJPY? It's 12.7% by the time I'm writing it. To keep risk at 8% he should reduce lot size to 0.61.
Many people pointed that when he presented his table.
What did he say? $10 pip value x 0.8 lot x 100 pips risk size = 8% of $10k risk per trade. No more questions, end of story. Shut down and do what I told ya...
And indeed it made a lot of damage in the early stages in GBPJPY when this 8% proved to be 12+%…
Even if kept down to 8% he obviously overtrades and doesn't really care.
Moreover, every lost trade he virtually increases leverage (because he doesn't adjust to the new, smaller balance)... Is it called Martingale or else?
When I compared his average weekly results to some robots I found the latter do much better job risking about the same (robots usually risk a lot to win very little). That's why I run my test with the robot. But I'm not that stupid to give it $10k. Let it show me it's true performance over half a year, then I maybe give it more. At the moment I'm 64% up in a middle of 7th week. I obviously overtrade ;-) But if I blow it, I'll lose just $100.
I can easily cover it from my "regular" trading.
Remember, if Henry blows his account he will be still about $380 800 in profit from your entry fees plus $53 600 every month (assuming 80% is still there). What is the initial $10k compared to this money inflow? Call it business expenses.
The next thing is the project deadline. Is there any?
He promised to do it in 12 months. He refrained from it after the very first loss.
If I was Henry, I would keep it forever... tell them times are too hard and we need additional two-three years to complete. 3x12x$53 600 = $1 929 600. Why would you close it in one year? Besides, on year is completely unrealistic. And he knows most of you will stick to the program because you don't want to "lose" the initial fee so he's very confident no more runaways...
And this is not his only income. He still has his mentor whatever service, much more expensive as a matter of fact.
God save me from this kind of mentoring. What can you learn from him?
How to kill oneself by pressing Sell button in Aussie trending up driven by series of rate hikes and impressive rally in Commodities of all kinds? Where is the fundamental reason he was referring to?
Yes, you're right - you can do your own challenge.
But I would be more realistic about time frame and intermediate goals.
Henry's Money Management is crafted to impress rookies. At first sight it looks so professional...
But it's a mixture of goals, money management and wishful thinking.
Throw out all the lots and pips. Define goals first.
Only then you can create Money Management based on the foundation.
But don't mix it. And don't fix it to pip targets or fixed lots. This depends on market conditions, you have to be flexible as the market is.
Remember he doesn't care what pair he trades and doesn't adjust position size to match pip value value while insisting he keeps risk limited to 8%?
This is true in GBPUSD or USDJPY. But what about GBPJPY? It's 12.7% by the time I'm writing it. To keep risk at 8% he should reduce lot size to 0.61.
Many people pointed that when he presented his table.
What did he say? $10 pip value x 0.8 lot x 100 pips risk size = 8% of $10k risk per trade. No more questions, end of story. Shut down and do what I told ya...
And indeed it made a lot of damage in the early stages in GBPJPY when this 8% proved to be 12+%…
Even if kept down to 8% he obviously overtrades and doesn't really care.
Moreover, every lost trade he virtually increases leverage (because he doesn't adjust to the new, smaller balance)... Is it called Martingale or else?
When I compared his average weekly results to some robots I found the latter do much better job risking about the same (robots usually risk a lot to win very little). That's why I run my test with the robot. But I'm not that stupid to give it $10k. Let it show me it's true performance over half a year, then I maybe give it more. At the moment I'm 64% up in a middle of 7th week. I obviously overtrade ;-) But if I blow it, I'll lose just $100.
I can easily cover it from my "regular" trading.
Remember, if Henry blows his account he will be still about $380 800 in profit from your entry fees plus $53 600 every month (assuming 80% is still there). What is the initial $10k compared to this money inflow? Call it business expenses.
The next thing is the project deadline. Is there any?
He promised to do it in 12 months. He refrained from it after the very first loss.
If I was Henry, I would keep it forever... tell them times are too hard and we need additional two-three years to complete. 3x12x$53 600 = $1 929 600. Why would you close it in one year? Besides, on year is completely unrealistic. And he knows most of you will stick to the program because you don't want to "lose" the initial fee so he's very confident no more runaways...
And this is not his only income. He still has his mentor whatever service, much more expensive as a matter of fact.
God save me from this kind of mentoring. What can you learn from him?
How to kill oneself by pressing Sell button in Aussie trending up driven by series of rate hikes and impressive rally in Commodities of all kinds? Where is the fundamental reason he was referring to?
Last edited:
Teodor Jackson
Sergeant
- Messages
- 222
Any progress?
Teodor Jackson
Sergeant
- Messages
- 222
I have just completed the second phase in terms of Henry's phase definitions
Phase 0 from $10,000 to $14,600 - I started from $99.43, hit $147 in 43 days, calendar days.
Phase 1 from $14,600 to $21,316 - I hit $213.35 today, 29 days since the previous milestone.
Note the time needed to complete Phase 1 is shorter than Phase 0 - that's because I compound realtime. Actually I don't follow this silly phase breakdown - this is just for comparison.
As I already said - this is just a scalper doing the job. I just control and adjust it when needed and... pray it won't blow it up one day ;-)
What about Henry?
Phase 0 from $10,000 to $14,600 - I started from $99.43, hit $147 in 43 days, calendar days.
Phase 1 from $14,600 to $21,316 - I hit $213.35 today, 29 days since the previous milestone.
Note the time needed to complete Phase 1 is shorter than Phase 0 - that's because I compound realtime. Actually I don't follow this silly phase breakdown - this is just for comparison.
As I already said - this is just a scalper doing the job. I just control and adjust it when needed and... pray it won't blow it up one day ;-)
What about Henry?
Tomdickandharry
Private
- Messages
- 10
Does anyone know if Henry has hit Phase Two yet? How is the progress coming? Is he still posting his statement live?
sylviohenry
Recruit
- Messages
- 6
We are now back to phase one !!
We are sticked into a position with no stop loss that is 230 pips loser.
Floating P/L: -4 205.33
Equity : 8 659.84
I can't understand such a risky plan ...
sylviohenry
Recruit
- Messages
- 6
What is clear for me now is that it doesn't worth talking about Henry Liu. On the web, i cannot find any forum where i can tell about this "scam artist".
RahmanSL
Major
- Messages
- 2,938
Are there any "Happy campers" in this program??????????????????
Surely, since the program was launched with much "fun fare" here at the FPA and with solicitous personal e-mail to sign up for the program and subsequent program, there should be periodical updates here.
Or is it the program has gone so bad that it's being swept under the carpet???
Surely, since the program was launched with much "fun fare" here at the FPA and with solicitous personal e-mail to sign up for the program and subsequent program, there should be periodical updates here.
Or is it the program has gone so bad that it's being swept under the carpet???
Rick Frederick
Recruit
- Messages
- 3
I'm outa here
You are right RahmanSL. It appears to be completely swept under the rug and no more "fun fare" as you put it.
I have been slugging away at this forex stuff for 6 years, a few blown accounts, not much, 5000 and a 3000 and yes I researched, as best I could, and then joined Henry's millionaire club. Hoping - not to find the holy graille, but - to join with solid performers and ride along for some profit.
He was supposed to have firm and fast rules, but always breaks them, as in today, lowering the stop loss on the USD/JPY, so that a larger loss was inevitable. He keeps touting the recovery of the USD, even when most of the news anouncements over the last 5-8 months re the USD show no recovery whatsoever. I personally went 4 straight weeks doing the exact opposite of his Sunday night, Monday morning forecast, and each week I was up a thousand by Wednesday. He is stuck on the USD (USD/CHF, USD/CAD, USD/JPY, AUD/USD, NZD/USD) I am beginning to wonder if he knows that there are other currecny pairs.
The USD/CAD forcasts/explanations made no sense whatsoever. He stated that the CAD is very much influenced by the USD. Well maybe it was before the USD meltdown in 2008. And maybe to some extent today, however, Canada has always had a more consevitive approach regards banking and regulations and housing and mortgages, and this time the consevative approach worked as the only major meltdown felt in Canada was at the car dealerships and factories and that was a direct result of the US troubles in that area. Canada had no bank failures, Canada had no need for bailouts, Canada's corporate bosses didn't need to fly to Ottawa in their private jets to secure their retirement pensions and golden parachutes by means of sticking it to the little guy and the working class. Henry stated that Canada's curency must go down as his USD is a safe haven and Canada is bit safe also, maybe, sometimes, and so is Switzerland and on and on and on he dreams of a USD recovery. There may well be a recovery, but it will take years, not months nor weeks. That's when I called it quits, and no I did not lose any money on the USD/JPY debacle today.
I have already said too much and I now sign off as an ex henry follower.
You are right RahmanSL. It appears to be completely swept under the rug and no more "fun fare" as you put it.
I have been slugging away at this forex stuff for 6 years, a few blown accounts, not much, 5000 and a 3000 and yes I researched, as best I could, and then joined Henry's millionaire club. Hoping - not to find the holy graille, but - to join with solid performers and ride along for some profit.
He was supposed to have firm and fast rules, but always breaks them, as in today, lowering the stop loss on the USD/JPY, so that a larger loss was inevitable. He keeps touting the recovery of the USD, even when most of the news anouncements over the last 5-8 months re the USD show no recovery whatsoever. I personally went 4 straight weeks doing the exact opposite of his Sunday night, Monday morning forecast, and each week I was up a thousand by Wednesday. He is stuck on the USD (USD/CHF, USD/CAD, USD/JPY, AUD/USD, NZD/USD) I am beginning to wonder if he knows that there are other currecny pairs.
The USD/CAD forcasts/explanations made no sense whatsoever. He stated that the CAD is very much influenced by the USD. Well maybe it was before the USD meltdown in 2008. And maybe to some extent today, however, Canada has always had a more consevitive approach regards banking and regulations and housing and mortgages, and this time the consevative approach worked as the only major meltdown felt in Canada was at the car dealerships and factories and that was a direct result of the US troubles in that area. Canada had no bank failures, Canada had no need for bailouts, Canada's corporate bosses didn't need to fly to Ottawa in their private jets to secure their retirement pensions and golden parachutes by means of sticking it to the little guy and the working class. Henry stated that Canada's curency must go down as his USD is a safe haven and Canada is bit safe also, maybe, sometimes, and so is Switzerland and on and on and on he dreams of a USD recovery. There may well be a recovery, but it will take years, not months nor weeks. That's when I called it quits, and no I did not lose any money on the USD/JPY debacle today.
I have already said too much and I now sign off as an ex henry follower.
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