Discuss CurrencyStrengthRobot.com (Henry Liu)

[Jason XXX]

My whole account of $7000 has been wiped out as all trades have been closed one by one because of margin call. In fact I bought this EA because of FPA credibility. My BIG mistake and a lesson learnt the hard way. I do not know why yhis EA was sold without proper back testing.These scammers should understand that it is criminal to play with innocent peoples money. I have lost my two years of saving:unhappy:

What Risk Scaling were you using? 1.0???

I am using Risk Scaling 1.0 so no margin call yet.

I am way down too. I don't think Henry thought the draw down would be this bad? Lucky for me I am using a demo account; so all good. But I just figured, if I was using a live account I would be down over 20k. If I was live, I would have to either take the loss, or keep paying Henry $297 a month and hope the robot gets me out of it. Very clever for Henry. I hope he gives us another month free or extends the guarantee for another 30 days. I really hope this thing works, and he is able to fix the problem. If I ever go live, I will be sure to set the Risk Scaling to 0.5.

 

[deanz]

What I find really disturbing is this EA was promoted as the name suggest a CURRENCY STRENGTH ROBOT that was based on a very simple and apparently hugely successful system, take a trade when the CSMeter had specific readings AND when the currency was going in the same direction for 3 days.

However Henry, like many newbie technical traders, kept fixing a good system until it didn't work any more. I for one never knew he was going to intervene so much or alter the original CSR intent, like disabling long trades on the EUR/USD, taking "Recovery Mode" trades that moved the original stop 4 times further away and added multiple positions to losing ones to try and come out at break even. Anyone one who has been reading about trading for more that 6 months should know this is foolish and against great odd. For all Hernys knowledge as a fundamental trader his technical and trade money management ability is appalling.

It's very sad and disturbing to hear that people have lost hard earned money. I never would have expected this coming from a close associate to Felix and the FPA.

Personally I can not see how this EA could have been accurately backtested at all given the information we now know about Henrys "Control" of this EA.

.

 

[Teodor Jackson]

My whole account of $7000 has been wiped out as all trades have been closed one by one because of margin call. In fact I bought this EA because of FPA credibility. My BIG mistake and a lesson learnt the hard way. I do not know why yhis EA was sold without proper back testing.These scammers should understand that it is criminal to play with innocent peoples money. I have lost my two years of saving:unhappy:

I'm sorry to say it but you shouldn't go for real money with unknown tools!
Would you give your savings to a stranger in a street?

The rule of thumb is to check the thing on DEMO first.
Even if you find it working fine on demo, the next step is to check in on SMALL live account. As small as possible to make it sense.
There are some little but crucial differences between demo and live accounts. Some brokers offer special micro accounts where everything is adjusted by 100. In effect you trade $100 as if you were trading $10 000.
Only when it passed the live account test you may consider bigger amount.
But still NOT ALL. Never trust it to give it all your savings!

I can give you example:
I found a decent robot. I bought it. It proved on demo for 3 months. It proved on small live account for 4 months. I was just considering to give it more money when markets changed beyond its capability so I had to stop it completely and manually manage out of quite big drawdown it had created.

Don't believe any robot will make you rich. Eventually every one will blow its account.
They can be helpful but you have to watch it and act immediately when things go wrong. You wouldn't leave electric sledge hammer turned on without any control in your home, would you? But it doesn't mean the electric sledge hammers is any crap.
However I admit 99.9% of robots is just a crap. Unlike sledge hammers

 

[dkami]

My whole account of $7000 has been wiped out as all trades have been closed one by one because of margin call. In fact I bought this EA because of FPA credibility. My BIG mistake and a lesson learnt the hard way. I do not know why yhis EA was sold without proper back testing.These scammers should understand that it is criminal to play with innocent peoples money. I have lost my two years of saving:unhappy:

oh:Sorry to hear this that is so sad i don't want you to feel even worse but i do agree with TJ DEMO it first is a must what i don't understand is it has wiped out your account unless you upped the lot size my demo account is in the red because of this robot and has a floating loss of about $1200.00 but its far from margin call hehehehe I'm even having trouble keeping up with its losses with my own trades:err:

 

[maszolkowski@yahoo.co.uk]

CSR

I think it would be helpful to get some comments from the FPA regarding how individuals acting as advisors to this organisation, use their 'credibility' in the
promotion of products that are contrary to the ethos of the site - in other words, to prevent people from losing money.

Whilst it is true that every individual should do their own due diligence, FPA advisors should be prevented from selling services due to the risk of potential abuse. I am a Doctor by profession and this is akin to me personally selling medicines to patients - the line is unclear as to who is acting in whom's interest!

 

[Jason XXX]

Such a shame too, I am so disappointed. This robot really could be good. I use the Currency Strength Meter to trade during the Euro Session. It is a great tool for filtering out the noise and finding the best pairs to trade. Why can't Henry make a system based on that instead of what he has now? Anyone can make a bunch of trades with a 500 pip stop loss and only count the profitable trades.

Draw down 35%

 

[dkami]

I think it would be helpful to get some comments from the FPA regarding how individuals acting as advisors to this organisation, use their 'credibility' in the
promotion of products that are contrary to the ethos of the site - in other words, to prevent people from losing money.

Whilst it is true that every individual should do their own due diligence, FPA advisors should be prevented from selling services due to the risk of potential abuse. I am a Doctor by profession and this is akin to me personally selling medicines to patients - the line is unclear as to who is acting in whom's interest!

I totally agree the credibility of this site will suffer the same fate as Henry in the end after all this site is here to protect people from becoming victim's of these FX marketing SCAMS not to help these FX marketer SCAMERS (Henry)get the details of new members many of which have no trading experience with little or no experience of these FX SCAMERS marketing tricks Henry is like a kid in a candy store having access to this site and many of his victim's have lost over 80% of their money in the 10k program and this robot is well on its way to blowing out my demo account

 

[Jason XXX]

I don't think Henry thought the draw down would be this bad. I hope he is still working on it and will fix the problem. Currency Strength meter can still be a totally kick ass EA. I am using it now; and I am doing great!!! I hope I could find a way to automate it. Maybe Henry can license his Meter for EAs?

 

[dkami]

I am using it now; and I am doing great!!!

HMMMM not sure the last time you looked at your statement from this robot but my statement is saying this robot has taken -$283.89 out of my account with a $1394.55 floating loss on a $5000.00 starting account,Henrys account balance is saying $5014.93 and he would have a similar floating loss of about $1300.00

so this robot wouldn't have even covered Henrys fee for the month let alone given you any profit there is only one person that made money on this robot this month and that's Henry

 

[Jason XXX]

yeah, I still don't quite understand the Robot trading system. The way I trade with the meter is I start during the Euro session, and buy on the red vs. blue. Take a 30 pip stop, and look to the fib price projection points as my target. Been doing great, but it is really tiring having to look at the flashing lights for 3 hours. If I could get an EA to work with the meter that would be great!!