Henry Liu
Former FPA Special Consultant
- Messages
- 473
Hey folks,
My name is Henry Liu and I am a Forexholic… (Like what they do in AA meetings, you first need to admit that you have a problem)… Here’s my story:
I started trading Forex about 5~6 years ago… and I did the usual thing like many aspiring Forex traders have done; I frequented Forex forums, bought a bunch of supposedly profitable Expert Advisors, and tested out every trading system I could get my hands on, and of course, spent more than 16 hours a day trading in the process…
And as a result, I’ve probably lost more than $100,000 in my first year of trading, as I maxed out all of my credit cards in search for financial independence in Forex trading…
I guess it must’ve been my stubbornness at work, as I refused to give up until I’ve earned back the money I lost. Since I was involved with several different trading systems at the time, I decided to combine “the best” of these systems and put together my own Frankenstein Concoction of a Holy Grail system…
...As I knew the key to Forex success must lie within these infinite combinations of indicators… then one day, in the dead of the night, it blindsided me,
Forex Runs On News…
Forget about technical indicators, MACD, Stochastic, RSI, those unpronounceable indicators or obscure abbreviations based on more of the same things; it’s irrefutable that market moves because of news events!
I still remember like it was yesterday, it was almost 4:30am in the morning and I was looking at GBP/USD pair on a rather bullish looking chart. I mean every technical indicator that I know was pointing for an upward breakout, and I do know my charts and my indicators, as you can see on the example above…
And just as I was about to place a BUY order for the pair, UK Retail Sales came out… and the actual release missed expectation by a huge percent and turned out to be a disaster for the British Pound…
What happened next might not be a shock to you, but it certainly sent a chill up my spine, as I saw GBP/USD drop over 150 pips in the next 3 minutes; in the midst of narrowly spared from yet another hit of $3000, I realized the one important fact in Forex:
Technical Analysis wasn’t enough…
That’s when I decided to turn my trading around. Since then, I’ve dedicated to learning and studying fundamental analysis and how to take advantage of news releases in my trading. Fast forward to today, I’ve recovered all of my losses and have made hundreds of thousands of dollars trading Forex, and I've been invited to speak about my trading methods all around the world, including a recent online live seminar trading Nonfarm Payroll (NFP) on June 4, 2010 hosted by Tradethenews.com with over 2500+ attendees...
I hope my story inspires you, even if you are currently struggling. I know it’s hard when you are at bottom, that’s why I’ve teamed up with Felix and the good people at FPA to provide you with my Daily Forex Signals. For more information on the Daily Signals, please read HOW TO TRADE THE DAILY TRADING SIGNALS.
It's my goal to help traders achieve consistency while spending less time trading, and my focus on trading is a combination of News Trading, Fundamental Analysis, Technical Analysis, and Market Sentiment. I believe a holistic approach to trading is a must and I'm looking forward to sharing my methods with you...
Thank you!
This is the end of Part I. Please continue to Part II...
My name is Henry Liu and I am a Forexholic… (Like what they do in AA meetings, you first need to admit that you have a problem)… Here’s my story:
I started trading Forex about 5~6 years ago… and I did the usual thing like many aspiring Forex traders have done; I frequented Forex forums, bought a bunch of supposedly profitable Expert Advisors, and tested out every trading system I could get my hands on, and of course, spent more than 16 hours a day trading in the process…
And as a result, I’ve probably lost more than $100,000 in my first year of trading, as I maxed out all of my credit cards in search for financial independence in Forex trading…
I guess it must’ve been my stubbornness at work, as I refused to give up until I’ve earned back the money I lost. Since I was involved with several different trading systems at the time, I decided to combine “the best” of these systems and put together my own Frankenstein Concoction of a Holy Grail system…
...As I knew the key to Forex success must lie within these infinite combinations of indicators… then one day, in the dead of the night, it blindsided me,
Forex Runs On News…
Forget about technical indicators, MACD, Stochastic, RSI, those unpronounceable indicators or obscure abbreviations based on more of the same things; it’s irrefutable that market moves because of news events!
I still remember like it was yesterday, it was almost 4:30am in the morning and I was looking at GBP/USD pair on a rather bullish looking chart. I mean every technical indicator that I know was pointing for an upward breakout, and I do know my charts and my indicators, as you can see on the example above…
And just as I was about to place a BUY order for the pair, UK Retail Sales came out… and the actual release missed expectation by a huge percent and turned out to be a disaster for the British Pound…
What happened next might not be a shock to you, but it certainly sent a chill up my spine, as I saw GBP/USD drop over 150 pips in the next 3 minutes; in the midst of narrowly spared from yet another hit of $3000, I realized the one important fact in Forex:
Technical Analysis wasn’t enough…
That’s when I decided to turn my trading around. Since then, I’ve dedicated to learning and studying fundamental analysis and how to take advantage of news releases in my trading. Fast forward to today, I’ve recovered all of my losses and have made hundreds of thousands of dollars trading Forex, and I've been invited to speak about my trading methods all around the world, including a recent online live seminar trading Nonfarm Payroll (NFP) on June 4, 2010 hosted by Tradethenews.com with over 2500+ attendees...
I hope my story inspires you, even if you are currently struggling. I know it’s hard when you are at bottom, that’s why I’ve teamed up with Felix and the good people at FPA to provide you with my Daily Forex Signals. For more information on the Daily Signals, please read HOW TO TRADE THE DAILY TRADING SIGNALS.
It's my goal to help traders achieve consistency while spending less time trading, and my focus on trading is a combination of News Trading, Fundamental Analysis, Technical Analysis, and Market Sentiment. I believe a holistic approach to trading is a must and I'm looking forward to sharing my methods with you...
Thank you!
This is the end of Part I. Please continue to Part II...
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