Discuss 10Kto1MM.com (Henry Liu)

[Boko Maru]

With the program taking such a bad turn as money management was thrown out the window, this a an opportunity for Henry to show his true character and trading skills as he tries to rebuild everyones accounts to at least where we started.

Trading skills? As I've said repeatedly here before and will again, it's highly unlikely Henry makes his living from trading. He makes it from selling subscriptions, robots, services etc. If you and others that still think Henry trades for a living will just GET that, this will all make perfect sense to you; trust me!

If he was truly in possession of great trading skills, do you think it would have ever come to this in the first place?

I think it's over.

 

[Boko Maru]

Someone just posted the below letter from Henry in the review section, so I though I'd repost it here. WOW, I probably could go on for hours with comments about this. But I think I'll just let it speak for itself, and quote a saying a lot of you are familiar with:

"Fool me once, shame on you. Fool me twice, shame on ME!"
________________________________________________________________

Just wanted to update you on the current status of our 10kto1mm program,
that unfortunately due to the unforeseeable lack in confidence of USD in
general, many USD crosses are now in new levels that we've never seen
before. Our trade, LONG on USDCHF, was stopped out and now we have a
chance to regroup and perhaps start to recover our losses gradually.

The principle behind 10kto1mm program is based on long-term fundamentals
and during the last 6 years of live trading, fundamentals have been guiding
my trades without fail. However, with the short to medium term market
driven by a mixture of sell USD, buy commodities, and general risk appetite
sentiment, the longer term fundamental seems to not only been ignored, but
forgotten by the market.

I believe it may be time to switch my focus towards the medium term, as the
long-term fundamental may make longer than our account could handle. I
will be focusing on recovering the account from this point on, and once we
have recovered, we will continue on with our ultimate goal set forth from
the very beginning.

So I would ask for your continuing support in this matter. And as stated
from the very beginning, Forex trading is always a risky business, and
having seen how risky it is - at least now the only direction for our
account is up

Once again l appreciate your support in the past and I will do all I can to
recover the account back to phase I level.



Thank you,
Henry Liu

 

[Gumrai]

I imagine that you could find plenty to say Boko, I have to say something

...." unfortunately due to the unforeseeable lack in confidence of USD in
general."

Unforseeable?? Does he not know how markets work?
The USD weakens because there are more sellers than buyers. Therefore USD weakness was foreseen by a the sellers, the majority. What he should have written is that the weakness was unforseen by him, but was forseen by the more astute sellers

"The principle behind 10kto1mm program is based on long-term fundamentals
and during the last 6 years of live trading, fundamentals have been guiding
my trades without fail. However, with the short to medium term market
driven by a mixture of sell USD, buy commodities, and general risk appetite
sentiment, the longer term fundamental seems to not only been ignored, but
forgotten by the market."

The market is always right, every trader worth his salt knows this. Any successful trader will know that it is necessary to accept when you are wrong and cut losses. Maybe Henry is not aware of this.
Not my quote, may have been Bill Williams -"The market can remain irrational longer than you can remain solvent". This is an important quote for every trader to remember. Shame that Henry didn't know this


.........."- at least now the only direction for our account is up"

Why would anyone believe that? Past performance is not a guide to future performance, but judging Henry's competence as a trader and managing trades on how he has done so far, the account is more likely to lose even more.

Is he still taking money from his subscribers?

 

[dkami]

I'm waiting for Henry lies medium-term signal he does like to drag things out for as long as possible(to gain more fees i have noticed) so not to sure when it will be but when this con-man does give next signal i will post it here for all to see if Henry has indeed changed his signals from long-term(buying USD) to medium-term or will it be yet another lie

 

[Peaceman]

More programs to sell

I imagine that you could find plenty to say Boko, I have to say something

...." unfortunately due to the unforeseeable lack in confidence of USD in
general."

Unforseeable?? Does he not know how markets work?
The USD weakens because there are more sellers than buyers. Therefore USD weakness was foreseen by a the sellers, the majority. What he should have written is that the weakness was unforseen by him, but was forseen by the more astute sellers

"The principle behind 10kto1mm program is based on long-term fundamentals
and during the last 6 years of live trading, fundamentals have been guiding
my trades without fail. However, with the short to medium term market
driven by a mixture of sell USD, buy commodities, and general risk appetite
sentiment, the longer term fundamental seems to not only been ignored, but
forgotten by the market."

The market is always right, every trader worth his salt knows this. Any successful trader will know that it is necessary to accept when you are wrong and cut losses. Maybe Henry is not aware of this.
Not my quote, may have been Bill Williams -"The market can remain irrational longer than you can remain solvent". This is an important quote for every trader to remember. Shame that Henry didn't know this


.........."- at least now the only direction for our account is up"

Why would anyone believe that? Past performance is not a guide to future performance, but judging Henry's competence as a trader and managing trades on how he has done so far, the account is more likely to lose even more.

Is he still taking money from his subscribers?

He is not only taking money from his subscribers of the 10kto1mm program but is preparing them for his next program. He is doing this by giving them the starting subscription on his new Currency Strength Robot (CSR) program. The 10kto1mm members have the basic subscription of the CSR program but really have to upgrade to the next level of subscription by paying more fee in order to have better access to the CSR program.

However, the current performance of CSR is not promising either. First of all, the trades do not appear to be triggered by robot but were more likely entered manually. It also appears to be counter trend to the strong market move. Nothing wrong with that if you know how to apply your stop loss. But it is shorting the strong AUD or NZD with a big stop loss. This sounds similar to buying the USD/CHF without a stop loss. And what do you get by trading against the strong trend of the market?

If this CSR program does not work out, I am sure Henry will come out with another idea to start another program. Henry is a guru in the area of forex internet marketing. He can always sell an idea in the internet marketing. There will always be followers in the internet marketing who will buy his next new idea. For people like Henry, the internet marketing has many opportunities to make your next big buck.

 

[faxxaff]

I think that most people will now agree that Henry has already demonstrated
his trading skills.
Somebody with true good character would accept that he has taken subscriptions from people and caused them to lose a lot of money and would now refund those subscriptions as a sign of goodwill.
I wouldn't be able to sleep at night with the guilt if I were him.

I sent support tickets and Henry's staff did not show any sort of approach to even comment on my proposal to issue refunds or offer to make up for the mess. Instead they portrait Henry as a victim and asked for further support.

While account statement is updated, history of old losing trades is no longer displayed. Equity stands at around 2500 USD .... that's over 80% down from accomplished first stage of 14k with just 2 trades.

Very poor business ethics. I am going to cancel this signal server. This week they did not even publish a weekly report :-(

 

[Peaceman]

I sent support tickets and Henry's staff did not show any sort of approach to even comment on my proposal to issue refunds or offer to make up for the mess. Instead they portrait Henry as a victim and asked for further support.

While account statement is updated, history of old losing trades is no longer displayed. Equity stands at around 2500 USD .... that's over 80% down from accomplished first stage of 14k with just 2 trades.

Very poor business ethics. I am going to cancel this signal server. This week they did not even publish a weekly report :-(

People who have joined the second phase of 10kto1mm are feeling not just like fools but are deeply hurt right now. They are feeling fooled by the gross misrepresenting claim made about the promise of riches of this program. They are feeling hurt by the fact that their account is 80% down in little over two months period.

If the organizers of this 10kto1mm program have any remorse or any accountability of their action, they should have the morale sense or business ethics to fix up the mess they have caused to their members. I think enough members should send feedback to the organizers to let them know about the poor, appalling performance and the lack of service and communication. Members should demand for refund or waive of fee until the mess in the account is being fixed up to its starting state.

If the mess of this 10kto1mm program is not fixed up, the failure of this program will follow the organizers for a long, long time. Whatever new program this group of organizers is trying to sell in the future, the failure of this program will speak of over claim promises that deliver little or none, endeavor that fills up the pocket of the organizers but lead to futile result and loss of time for the members.

 

[dkami]

Still waiting for a signal
Still waiting for weekly outlook
Still waiting for a reply to my email that i sent 8 days ago to support

Henry brain must be in over drive working on his next BIG SCAM

 

[bbullo]

Members should demand for refund or waive of fee until the mess in the account is being fixed up to its starting state.

This sounds like it would me the right thing to do, but Can he really get the account back up to 10K? I've personally lost trust/confidence in his abilities. I didn't expect every trade to be a winner, but the stop loss should have been in place to prevent major losses. If he does start giving signals to recover the account, do you really think he can get it back? That's like 4.5 months at a 40% profit. In the 6 months we have been members, he grew the account 40% once before blowing it up with the CHF trade.

 

[Peaceman]

This sounds like it would me the right thing to do, but Can he really get the account back up to 10K? I've personally lost trust/confidence in his abilities. I didn't expect every trade to be a winner, but the stop loss should have been in place to prevent major losses. If he does start giving signals to recover the account, do you really think he can get it back? That's like 4.5 months at a 40% profit. In the 6 months we have been members, he grew the account 40% once before blowing it up with the CHF trade.

If member has lost the confidence or trust in the organizer's ability to make profitable trade and get the account back into order then it is probably no point to continue with the program. The organizer should compensate for the loss in the account of the member or for the period in which there is complete inaction or non service when the whole program just hinged on one massive lost CHF trade by refunding the fees the program collected from the member during this period.

This is what a fair and ethical business practice should do. Willing to give refund for a product which malfunctioned and did not perform to its claim and expectation. A fair business practice.