Discuss 10Kto1MM.com (Henry Liu)

[Peaceman]

current losing trade

There is no exit solution to the current trade of USD/CHF. This trade is currently more than 500 pips down. If the loss of this trade is allowed to continue to go down for another 100 over pips, the account balance will have a margin call or hit negative and being closed down. However to cut the loss of this current trade requires courage. It means that the account balance will look seriously bad to the point of not being able to recover. The loss of this trade should have been cut some time ago when the loss was much smaller but there was neither courage nor discipline to take any action. It was left running for months without any stop loss. In the current market condition where the USD is being bashed by all other currencies, this trade is not only a bad call but is also poorly managed without any regards to risk management. The trade has the potential to close down the 10kto1mm program.
The member who followed Henry on this trade and still hanging on to the loss in the account like what he is doing is now seriously hurt in the account balance. What is upsetting to the members is Henry no longer update his live statement to show the current loss of this trade. The performance of this trade has become non transparent. The member is left to pray that the trade will claw back 700 pips to hit its target and get them out of danger.

 

[Gumrai]

Henry is supposed to be an experienced trader, so why has he made so many Rookie mistakes?
It appears that his expertise is in marketing, if this shambles is anything to go by he is not a successful trader.

 

[faxxaff]

The member who followed Henry on this trade and still hanging on to the loss in the account like what he is doing is now seriously hurt in the account balance. What is upsetting to the members is Henry no longer update his live statement to show the current loss of this trade. The performance of this trade has become non transparent. The member is left to pray that the trade will claw back 700 pips to hit its target and get them out of danger.

Subscribers of this program purchased monthly FX signals that are supposed to be good for 46% of profit a month. That was how Henry justified his monthly subscription fee on top of the one time fee at start .... but signals are no longer delivered. Henry always said it's up to the members to take signals or not, so his own statement is used as an excuse to not deliver any signals. That's very poor professional conduct imho. Henry, where are the signals we pay for? You owe an explanation, not an excuse ...

Be an honest guy and refund members for the last 3 months and close the program. I can live with a loss, but I don't like to be cheated.

 

[Peaceman]

Margin Call

Base on an estimated calculation on existing account balance and the margin requirement of $2400 to maintain the existing position, the account will have a margin call when the USD/CHF trade drops to about 0.8768. That is only about 30 pips away from the current price level.

We wonder what Henry is going to do when the margin call occurs? Will Henry have the dignity to owe up to the losses and let the member know about the situation? Will Henry come clean with this trade and the 10kto1mm program? Will he admit that the performance of the 10kto1mm is a flop? Or will he come up with more funding to top up the margin requirement and continue with the current losing trade?

With the performance of the balance at such a perilous level, I am sure the members of the 10kto1mm are interested to know about the future of this program. The members really have the right to know so that they won't keep paying for the subscription fee without getting any service or value in return.

Henry's reputation as the guru in the internet marketing forex industry is about to get shattered when the margin call occurs and the account balance subsequently wipes out. The dream of his followers in chasing after the million dollars will definitely be extinguished.

 

[bbullo]

ZERO STARS-I can't believe the mismanagement that has taken place with the 10k to 1mm program. Henry broke two of his own rules to take a large group of traders down a devastating path. The account is likely to get a margin call today, Henry has frozen his live statement, so no on knows if he has exited the trade or not. The two broken rules that got the group of traders to sink are -(1)having two trades open at one time, when the tsunami hit Japan, both pairs immediately took huge losses. (2) having a trade with no stoploss, Allowing USD/CHF to plummet 7k to its all time lowest level. Keeping your account balance is a fundamental principle to avoid a margin call. Why we didn't exit the trade during the volatility and regroup I will never understand. He stubbornly stayed in the trade and stopped with the signal service. By doing this he has lost thousands and thousands of dollars of hard working people.

 

[RahmanSL]

I believe Old Henry committed what...eehhh, in plain old English....a screw-up.

He expected/anticipated the market to go in one direction, but it did the exact opposite.
I have been there (too many times) and I can relate to what he must be feeling over his screwed-up. But it must be many times more terrible for him as he has a whole bunch of people with their hard earned money at risk and possibly wipe out altogether.

How to get out of such a dire situation?
Only two choices:
1) Cut losses immediately and thus drastically reduce the account size leaving very little to trade with and which will take forever (if at all) to rebuild.
2) Pump in more money to ride out the losses (to avoid margin call) and hope the market reversal will happen soon. If market reversal do happen, but not enough, decision will have to be made when to get out at minimum losses.

 

[sylviohenry]

....
How to get out of such a dire situation?
Only two choices:
1) Cut losses immediately and thus drastically reduce the account size leaving very little to trade with and which will take forever (if at all) to rebuild.
2) Pump in more money to ride out the losses (to avoid margin call) and hope the market reversal will happen soon. If market reversal do happen, but not enough, decision will have to be made when to get out at minimum losses.

RahmanSL, I think Henry is trading with a demo account. He will not cut losses because he doesn't have any money engaged. I gess he is working on his next trap now ...

 

[sylviohenry]

....
How to get out of such a dire situation?
Only two choices:
1) Cut losses immediately and thus drastically reduce the account size leaving very little to trade with and which will take forever (if at all) to rebuild.
2) Pump in more money to ride out the losses (to avoid margin call) and hope the market reversal will happen soon. If market reversal do happen, but not enough, decision will have to be made when to get out at minimum losses.

RahmanSL, I think Henry is trading with a demo account. He will not cut losses because he doesn't have any money engaged. I gess he is working on his next trap now ...

 

[RahmanSL]

Henry's account is real enough, and has real money, and real losses.
As the losses in his account is too massive, he is going for broke..i.e he is not cutting losses as it's either the market reverses in his favor and he gets to recover all or most of the losses, or the market goes further against him and wipe out the account.

I have done that a couple times in my Live accounts and sometimes the account is brought back into profitability, but sometimes it just got wiped out.
All of these happens because I have just too many opened losing trades.

 

[Peaceman]

Trade Stopped Out

Henry has just sent an email stating that the losing trade on USD/CHF has been stopped out. That means that the account balance has a margin call and has insufficient fund to keep the trade opened. It also means that the account balance has dropped below $2400. It shows that the performance of the 10kto1mm program is returning close to -80%.

Henry is blaming the loss of this trade on the market focus on the medium term fundamental and ignoring the long term fundamental. He is asking the group member to stick with him as he will now focus on the medium fundamental.

What we like to ask Henry is these:-
- How are you going to ask the member to carry on trading when the account has lost close to 80%?
- What do you mean by medium term or long term fundamental when in fact what you should be looking for is what makes the market ticks?

Hi Henry, don't keep the illusive dream of those members making a million dollar alive. It is time to face up that the dream has already been destroyed, perhaps by your reckless style of trading. It will be totally wrong if you still try to tempt and lead them to greater financial loss in the future at their expense while benefiting you in the process.