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Henry Liu - Scam

Discussion in 'Scam Alerts' started by thomazian, May 1, 2011.

  1. thomazian

    thomazian Recruit

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    You have to be suspicious of everyone who is selling robots. Even if they are leveraging their existing reputation (in this case Henry) to sell you one.

    Lets call a spade a spade, the bottom line is money. You want to make money, and Henry and others like him also want to make money. You're willing to spend money to compensate for lack of knowledge or some other element that is limiting your success and these guys are happy to take advantage of your 'need' and sell you the 'magic formula' which will supposedly do it for you. Only after the fact you realise you were scammed.

    Yes, Henry is scamming you. Wake up people, to him and everyone else that is trying to sell you a robot or magic system.

    His hook is this mystery million dollar trader who called him and turned 10,000 into 1Million using his software. Only this is a lie. This is what sucks you in, you wanted to know what the system was to do it and clicked his 'view the latest video' button to see the system. There is no video, its a link to buy is BS robot.

    (Currency Meter | Currency Strength Meter | Forex Meter) - go on, click video 5 for the next trick! (The real trick is this, watch Henry take 1 Million dollars of his followers by selling a robot that will lose all their money for them.)

    I looked at his robot out of interest (I don't use robots) but could see straight away it was a disaster. Could you see it? Why not? He posted the back-test information there on the website for you and all you had to do was interperet it. (Currency Strength Robot - Forex Auto Trading System ? Forex Automated Trading System for MT4 based on Currency Strength). It was clear that it was going to fail! If you couldn't see it was going to fail that means a) you didn't interperet the data, b) didn't know how to interperet the data.

    Now lets be honest, how many people looked at the pretty graph and the 'net profit' figure and was ready to throw money at Henry for this amazing system! You only have to look at the comments to see how many people couldn't wait for it and were asking how much it cost and when it would be released. This is why people lose money in the markets. They need to wise up.

    Lets analyse Henry's robot from data provided so you can see how bad it is. This is a basic analysis but it tells a lot. If you are a robot type person then you should do something like this to all the back test reports that are in front of you. Don't just look at the graph and net profit figure and throw your money at the sales guy.

    1) Go to Henry's page (Currency Strength Robot - Forex Auto Trading System ? Forex Automated Trading System for MT4 based on Currency Strength) and copy all the data into an excel spreadsheet. Copy from the first line with the headings "Ticket, Open Time, Type, Size etc" all the way down to the line ending with "Floating P/L: -8 951.03" just above the graph.

    2) We are going to see what kind of stops Henry uses. Lets create a new column for the "Stop loss limit". This is where the trade will be stopped out automatically at a loss. Copy this forumula in and paste it all the way down '=IF(C2="buy",F2-G2,G2-F2)'. This formula says - if the order is a 'buy' then calculate the stop loss limit as 'Price minus the Stop Loss'. If the order is a 'Sell' then to calculate the stop loss limit as 'Stop Loss minus Price'.

    Positive numbers are a Long trade, Negative numbers are a Short trade. There are some cancelled orders and deposits in there you will have to tidy up.

    You will also note that there are a number of orders, quite a few infact, that have no stop loss. Very, very bad.


    3) Lets create new colum for "Profit Target". This is where the trade will be stopped out automatically with profit. Copy this formula in and paste it all the way down '=IF(C2="buy",H2-F2,F2-H2)'. This formula says - if the order is a 'buy' then calculate the profit target as 'take profit minus price'. If the order is a 'sell' then calculate the profit target as 'price minus take profit'.


    4) Now we have to do some data cleansing.
    i)For the cancelled orders and deposits, delete the values in the two new colums.
    ii)For the orders that have no stop loss, delete the results from the two new columns you created and highlight those rows in red. Red means very bad. I.e. there was a trade taken with no stop loss.


    5) We are going to add a third column for Reward v Risk ratio. Copy and paste this formula into the new column '=P2/O2'. This formula divides the new profit target column by the new stop loss column giving us a reward:risk ratio. The number in the cell is the reward. So interperate it like this "[result]:1". Meaning you are expecting [result] for every 1 you risk. 2 or above is acceptable, less than that is questionable as you have to have an extremely accurate system to be profitable.

    Basically the higher above 2 the better.

    You can see from all the red lines, that there are lots of trades with no stop loss exposing your entire account. You can also see that the reward v risk ratio is extremely poor. This is a losing system over the long term.

    Now what about those trades with no stop loss and no target, are they manual trades? What about the open trades at the bottom of the results, are they manual trades too? Why would you be making manual trades on this account Henry? (As admitted in his own comments below the back test report). How can a consumer evaluate the robot if you are interfeering with its results? Which trades are yours and which ones are the robots? Are your trades the ones with no stop loss? Or is the robot poorly programmed and in some cases does not use a stop loss?

    Lets now look at the current open trades (down the bottom of the results). WOW!!! That Henry is EXACTLY why you need stop losses. The date now is 1 May 2011, have you finally closed off those AUD/USD trades? Or are you still fighting the market? With a total of 30 Lots in those trades this is $30 per pip these trades are moving against you with no stop loss. I'm giving you the benefit of the doubt that you closed the two AUD/USD trades while still in profit. Are you waiting for the market to turn without accepting a loss? The current AUD/USD prices is $1.0972 so just how many pips has it moved now without returning to those levels?

    Well lets take your first trade entered at 0.9632 with 10 lots. At the time of your results, the trade is over 200 pips against you with $2000 loss and you still haven't closed the trade. At that point this one entry is 5% of the total account (bad money management) and still open, when is it going to close? Since there is no stop loss, I assume it is still open as the pair has not returned to those levels yet for you to close out to recover. From .9632 to 1.0972 is about 1340 pips at $10/pip = $13400 down on one entry due to no stop loss. And due to the difference in interest rates, you are losing on the carry trade too. But you or the robot did it 3 times on the one currency! The market has not turned yet. I would be curious if these are still open Henry or when those positions where closed.

    You have done the same with the USD/CAD... 4 times, trying to fight the market without accepting a loss. Again the CAD hasn't returned and you are $40/pip on the wrong side of the trade without closing it out. The carry trade here is also working against you.

    I haven't bothered looking at the other open trades or even going into further analysis of the closed trades to see what the draw down or max stop losses were on those or how price behaved within those trades compared to what the trade was intended. Those trades might have stop losses and some might even have been profitable, but we can see from the reward v risk, and lack of stop losses that the whole trading system is way out of balance. I've seen more than enough.

    Lets also take a look at Henry's video where he boasts $100,000 profit in three months. This is supposed to add credibility to Henry as a trader. Look more closely and you will see he is simply moving money into an account. To increase the bottom number, these are not profits from trading.

    Henry is not your friend, he is like all the other snake oil salesmen using whatever tactics he can to get your money. Sucking you in with this mystery $1 million dollar system, falsely representing his trading account statement, leveraging his existing notoriety, his affiliation with FPA, interfeering with the operation of the robots trades and making his own trades, selling a robot that he knows is no good and presenting it to be profitable. The fact that he is a contributor and sponsor of FPA is very ironic proving you cannot trust anyone.

    I'm calling on you Henry to return everyone's money for this robot. They have trusted you and you have taken advantage of them. You are not honorable, nor have you behaved ethicly, you are no different to anyone else trying to take advantage of people who are new to the forex industry.

    I would also call on FPA to mark Henry's robot as a scam and remove Henry's status with the FPA to a general member. This is not acceptable especially for someone in his position with FPA. I have not read his education material so it may have valuable substance, but in the case of his robot, it is deceitful and the fact that he has followed through with this marketing and sales campaign to take advantage of people is discraceful.

    The only honourable thing Henry can do is return everyone's money who has purchased your robot and remove it from sale and focus on trying to educate people without ripping them off.

    I would love for others to post their results if they have or have not received their money back from Henry.
     
  2. susan

    susan Private

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    henry Liu

    I bought the robot and demoed for a month its was a total disaster.
     
  3. Montyfx

    Montyfx Recruit

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    CSR

    I'm currently subscriber of Hnry Liu CSR robot,into the second month with lots of negative DD.

    There is no updates reviews oexplanationon on why the robot is taking bad trades and so on,.
    If this continu as it is,I'm going to close my account and ask for refund as he promised us.
    Will up date latter.

    Monty
     
  4. ibham1

    ibham1 Private, 1st Class

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    CSR blew my trading account. It was trading against the strong trend. For both the AUDCAD and AUDUSD it added 5x to losing trades.

    I was very disappointed with the robot considering Henry has a good rep.
     
  5. alvin050

    alvin050 Private, 1st Class

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    Still waiting

    I think it's high time Henry posts an explanation in FPA to explain the performance and dismal handling of CSR and 10Kto1MM. After all, it's not like he doesn't visit this website.
     
  6. thomazian

    thomazian Recruit

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    I'm sorry to hear you guys lost money.

    Any forex educator will tell you there is no magic bullet, everyone has heard that thousands of times.

    This is exactly my frustration. Henry knows that this robot isn't going to work, but he has 'convinced' everyone that he has found the answer. Its just a cash grab for Henry taking in all his followers.

    This is what makes it all the more sinister. Being swindled by someone is one thing. Being swindled by someone you trust is another.

    This can't be allowed by the members of this site, I have given basic instructions to analyse his robots data above, and pointed out that his '$100 000', trading account (as shown on his videos) is nothing more than shifting money into and out of a trading account. Its not money from trading. I don't believe Henry can actually trade successfuly. There is no doubt that Henry has deceived his followers.

    The irony is of course Henry's affiliation with the FPA and what the FPA is supposed to stand for.

    I will be keeping a close eye on this as this will also serve as a testiment to the FPA and how serious they are about finding and exposing scammers. FPA's credibility is on the line here too.
     
  7. rifearmo

    rifearmo Recruit

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    i can't realize how FPA let henry sell his scam products here...
    "scammers pray that you don't join us today" but he's in!
    henry "scam artist"
     
  8. GAMBLER99

    GAMBLER99 Recruit

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    CSR a big loser in demo

    I was appalled at the many open concurrent losing trades in the 1st month > purchase. I bailed after about 25 days. The only reason I stuck with it beyond the 1st week, was it became a curiosity how all those losers would recover or end up. Got my refund quickly which was good.
     
  9. MichelAnge21

    MichelAnge21 Sergeant

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    What will happen now ? Henry will get a dishonourable discharge from the Forex Peach Army ?
     
  10. Kent I

    Kent I Recruit

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    Forex Peace Army should do something SCAM ALERT

    I have been posting on various website for a full month now trying to warn unsuspecting people of this CSR scam. At first I thought this was just a bad run of trades but as time has passed and Henry Lui has refused to respond to many complaints I see this as a SCAM. Henry Hui is using his reputation built primarily on the back of Forex Peace Army to scam many of folks out of membership is his totally worthless trading service. I really wish someone at the FPA would look into this. My sole reason to believe any of the CSR advertising was Henry Lui's status at FPA.

    We need to run these scammers to ground and put them out of business. DO NOT PURCHASE ANYTHING FROM HENRY LUI and the CURRENCY STRENGTH ROBOT
     

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