Discuss 10Kto1MM.com (Henry Liu)

[knightal]

Trade number two

Ok as promised here is the latest.

Trade 2 hit the stop loss leaving a few not so happy campers.

As for me, well I strayed from the path and lowered my SL by a few pips thus keeping me in the running. I'm hoping to break even with this trade or heaven forbid make a bit of a profit.

I'll let you knnow how it goes.

As one person in the forum said to the whingers:-
"Well you are only using monies you can afford to loose right?"

Cya
Allan

 

[RahmanSL]

Hmmm, yes indeed, don't seems like a whole lot of happy & enthusiastic campers in old Henry's "road to being a millionaire" program.

Well, thankfully, it's still very early in the program and, as the will of God, it is still very early and the situation can easily take a turn for the better.

Needless to say, but still, good luck and appreciate your up-dates.

 

[knightal]

Trade Number 3

Well it started out Ok but then once again things went downhill. On a moment of profit I took my chance and took a small profit and got back in.

Then it was all downhill. We were stopped out, then told to get back in the same trade pair, with a new SL and entry point.
That SL was hit again very shortly after we entered. But hey wait on Henry's live trade has NO STOP LOSS set. So he is still in the trade whilst the everyone else is out. :unhappy:


Till next time

Allan

 

[yurps]

same old Henry

Wow, I heard all this hype about Henry's 10k-2-1mil program, however having lived thru his FXNewsWhiz service, I could never give that guy another cent of my money again. I warned every wide eyed, excited and enthusiastic trader who went on about Henry's system, but they would not listen to it. It is amazing, despite all those terrible reviews on FPA about FXNewsWhiz and the fact that Henry totally wiped out 2 Managed Forex Trading Funds on Collective 2, still people were more than happy to swallow his marketing hype and lies. All of this is most interesting, basically people want to believe the stuff that Henry says. He paints a dream picture, people want it so bad, that they are willing to disregard all evidence and hand over their money. All it takes is 1 good review and people will disregard all evidence, another case of 'Confirmation Bias'....(alot like when short Euro u only pay attention to bad euro news). Think about it, if Henry can turn 10k into 1 million, why would he sell it for whatever he sold it for? Probably a few 100 bucks as that is the best number psychologically which balances perceptions of value and worth (ie if it is too cheap people think it is a scam, but if too expensive people will not be willing to spend....). Henry can't trade, he is making the same mistakes he made when he ran FXNewsWhiz, trying to pick bottoms, jumping back into the same pair right after u get stopped out, moving the stop loss, scaling into a looser. Henry has found out it is easier to make money marketing Forex materials, and I did watch his promo video and was very impressed with the layout and script. Henry does do a good job with the news signals, however it has also given him a platform to peddle his forex materials. One even said to me they thought they could trust Henry because they saw him on the FPA site....shame, think Felix and Henry hit it off because they were both marketers not traders.

the reality is much more bland, yeah actually to be profitable in forex takes good old fashion hard work. Yes it is possible to make money quick, it is also just as possible to loose it quick. News trading can make it more likely, but it depends on alot of factors, such as your broker. Anytime u read something which promises big things, especially when large amounts are mentioned....like a % per month or dollar amount per year or whatever, then alarm bells should go off. There is so much marketing vomit all screaming for your attention they will say anything, and as soon as they do u can be sure they will ask u to imagine living in your dream home, going on ur ideal holiday...etc etc. as long as u pay them $xxx... for their materials....save urself. There are so many books out there, and hell with file sharing u can get most of them free soon after they are published. Next time u are tempted to pay someone to give u sucess in forex, just go download a book and read it....soon u will be the expert.

 

[knightal]

10k news

Hi

Well the latest is a bit confusing really as there has been some breaking of the ranks. Some myself included have taken some profit from one of the trades that was well up. Others stuck to the plan only to see the price drop back to a raised SL to a break even. A bit hard when we were about 250 pips up.

As for FXNewsWhiz unfortunately I have never heard of it so I cannot comment, but things so far are not good with most calls hitting the SL or BE points

Till next time

Regards
Allan

 

[Teodor Jackson]

Yurps - you're absolutely right.

I've been there, I saw it by myself.
The guy is unable to take good trade!
He tries to pick a bottom in tending bearish market.
One of users said "once again we tried to catch a falling knife..."

The site is full of newbies. They have no idea about trading.
They praise Henry whatever he does, whatever he says.
He explains them the loses are natural, the trades were reasonable only the markets were not "typical".
One of his excuses: the USDJPY Long failed because of new Shadow MPC member interview on Sunday, the idiot said the UK economy is in bad shape and this caused the market plunge...
He only forgot to say the plunge happened directly after Japanese officials admitted they have no means to intervene - the yen skyrocketed across the board. And could anyone explain me how any UK official can cause a plunge on USDJPY?
Every failed trade excuses like this...

BTW: the trade could be BE or loss cut short. But he was probably asleep and we were given orders to keep fixed SL no matter what happens.
-100 pips loss in effect. Just like standing in front of a firing squad.

YES - one of main reasons I joined it was his FPA presence - he used it as vehicle to drive naive customers.

 

[armitas]

Another fuhrer?

Henry Liu has closed his 10Kto1MM member's forum. Closed it indefinitely "due to our inability to properly monitor and offer support in the forum", that is the excuse. Somehow this "inability" didn't affect Henry's ability to send the tons of spam messages inviting to his free webinars etc. Thanks, Henry, for invitation, yet couldn't you show any positive result on your 10Kto1MM program before I find you can teach me?

Closing the member's forum after it began to show a growing discontent of the program subscribers is a bad signal sent to everyone who knows the finger-speech of public leaders. Yet it was natural for a totalitarian type of personality Henry definitely is. That he is a totalitarian kind of person despite his friendly appearance became clear to anyone who read how sharply he hauled a 10Kto1M forum's member, who ventured to express his own opinion on Henry's trading style. Let me just remind that there were NO winning trades in about 3 weeks, that the total loss exceeds 30% and that the name of the program should be changed to "6K to 1MM in 11 months"... which is even more challenging, isn't it?

So. Mr. Liu never replies to his folk's appeals, he doesn't tolerate any kind of criticism, and on the top of everything after the series of blunders he shut off the only channel of feedback and of horizontal communication between subscribers. This behavour is typical for the all kinds of fuhrers who led their countries to collapse (a margin call in our case). I propose to 10Kto1MM subscribers to continue our discussion here on FPA. And I propose to Mr. Liu to open his ears to public opinion. Of course, if he ever intended to keep his promise to subscribers he recruited so skillfully.

Or has something gone wrong. Henry, why do you take so long?
Oh come on, King of the Pips...

 

[Dawei Wang]

all Losses recovered from GY trade!

 

[Teodor Jackson]

all Losses recovered from GY trade!

GREAT! After FIVE WEEKS he's b/e and now he can start it over.
Meanwhile I managed not only cover but complete phase 1 by my myself!
That is collect over 575 pips. It's only 115 pips a week ;-)
By following the trend instead of picking tops/bottoms.

BTW: I learned he's still 17% down from the initial 10k account. As of 22 Sept 2010.

 

[Damian1987]

So, what's the news up till this date?? Anyone knows?? No more comments about the ongoin signals???