Concept FX

[jason0181]

When I spoke with Concept, I did ask about the US NFP's, but they said that they did not use any fundamental news feeds to make the alerts. On this particular trade, the alert was on the Dollar at a very high level, and the stop loss was higher than the GBP has been for ages, so if we use the logical side, this trade should come good, but it may take a few days. You never know the alert tonight maybe to close the position (but I doubt it).

I have had a very leisurely afternoon in the cinema and not worried at all about the trades, as I am keeping well away from them. I will continue reading my spread betting book later in starbucks, and see what other strategies I can come up with.

 

[stevespray]

What you have to remember is that you are buying into the whole Concept FX system here and not an individual trade. Trade will win and lose. There will be trades that win which, at first looked like they'd lose and likewise there are trades that lose which looked like they'd win - it's all part and parcel. Nothing wrong with watching what is going on. Just learn to watch the position and not feel so much emotion.

Steve.

 

[jason0181]

Steve

It is hard to leave the emotions out when starting, and the only way is the hard way and by losing cash. Every book I have read talks about emotions, and how trading with them is not a good idea. I just hope that by the end of this, we can all have faith in concept, and trade their way. It may not make us the best traders, and the most informed, but if it makes profits, then I will be happy.

It does feel that we are forming a little group here 🙂 It makes the day more fun.

 

[GMP]

Hmmmmmmmmmm looks like the US news that came out has buggered (or is buggering) the trade thats open.

Cracking! This is where I need to teach myself not to become emotionally involved. Or just turn off the charts!

Yep, that skinned my knees too but I reckon it's a temporary reversal - I don't think the dollar's going to revert to its downtrend, at least not while Oil is so high. Seems to be too much big money supporting it.
So now I've said that, watch it fall through the floor!!😆

 

[wil68]

Hi All

I've been following this thread with great interest since it started and wanted to share my views/ thoughts for what they're worth. For a bit of background and to reply to a previous post "would they really lie on literature and web sites" - oh my god would they lie! I was nearly scammed last year by a company called PCAA (do a google search and the threads now pop up) who were promoting a similar system, but for stocks. This turned out to be an elabotate scam and they had set up fake forums, web sites etc to fool the needy and greedy (me). I got out just in time, but the point is there are people going to great lengths to scam. I then educated myself on stocks and now trade options with a degree of success. However, I'm always looking for other ways to diversify my risk and found the web site for Concept FX - I asked for the information and it struck me as a scam straight away, but it's fantastic to hear that those of you who have given it a go, are starting to believe in it. I think deep down we would all like something to automatically make money - this may be the answer. I don't comment on many forums, just read, but it was refreshing to read something constructive from an experienced trader like Steve. Normally anybody trying something new is shot down and ridiculed by the experienced guys - so thanks Steve. Great respect to you guys who have dug deep and have actually tried to do something - I think we are all watching the results to see if there really is a system that will take out the learning curve. One last thing that has been mentioned - emotion. In trading options, I make a decision on what I see, I know if I've made the right decision it will come good eventually and if not, my stops keep my from losing too much. Emotion is THE biggest risk, trust whatever system you are using and you MUST treat it as a business - there will be ups, there will be downs, and you have to deal with both in the same way. We all learn this the hard way (do as I say not as I do springs to mind).

Good luck guys, and I look forward to reading about your successes.

Martin

 

[LookUpLeg]

Maaaaaaan I'm lovin' these red candles post NFP!!

Good post Martin. Always interesting to hear other peoples thoughts/experiences. It seems like there's 3 or 4 of us in this thread who now actually have the system, so you'll will no doubt hear about good and bad trades over the coming weeks/months.

 

[LookUpLeg]

I just realised the emotion in my last post "Maaaaaaan I'm lovin' these red candles post NFP!!"

Naughty boy...I'm off to stand in the corner for a while...

 

[anddy26]

Hi Martin Great reply..thanks for the contribution..I am upping my stakes now..as from today a 6k bank is now in place...since i got it 5 weeks ago..ive made a 50% profit on a 2k bank..One thing that does concern me..what if it is too successful?..can you imagine 500 customers putting on £15/pip trade and it netting 250 pips..a grand total of £1,875,000.00 pay out...Wonder if we could get capital spreads balance sheet? thats maybe small fry in a days trading to them??

 

[GMP]

Hi Martin Great reply..thanks for the contribution..I am upping my stakes now..as from today a 6k bank is now in place...since i got it 5 weeks ago..ive made a 50% profit on a 2k bank..One thing that does concern me..what if it is too successful?..can you imagine 500 customers putting on £15/pip trade and it netting 250 pips..a grand total of £1,875,000.00 pay out...Wonder if we could get capital spreads balance sheet? thats maybe small fry in a days trading to them??

I have read a few nasty stories on T2W about how Capital Spreads allegedly treats winning customers - hopefully they're not as bad as they're made out to be, but it might be worth placing an equal bet with a rival SB firm rather than just doubling your stake at CS? Eggs and baskets, etc.

 

[jason0181]

I have just been reading a book by Martin Pryor on spread betting, and the chapter on managing risks, he does mention running bets with multiple companies just in case any one goes bust, and also not letting the bank get too large in one comany. I wil be doing this once my trades get a bit bigger.

 

[jason0181]

Hi

Does anyone else look at the charts before placing to order to open, and get a 'feel' for the current trend?

Has anyone used pyramiding to get into a better position once the trade starts to take off? Most of the trades last for a few days, so it may be possible to add to the position to make it stronger. If a true pyramid system is in place, then moving the stop loss to a place where the original bet will not lose be in a loss, would be tinkering with the concept system, and we know from Andy's experience that this is not best practice.

Just some thoughts, but would require more time and checking prices during the day, or adding more orders to open with larger bets, and smaller stop losses and objectives.

 

[anddy26]

Jason i started to write this an agree with u....then i deleted it all because i think we stick with the system...paper trade ur method and see if it does work or use another account with smaller bets..but are we not just gambling when we see the trend on these trades...and would we pick the trades that trigger ourseleves??....I have actually another theory i want to try...we get the laerts 1 or 2 days before they trigger...im going to 'papertrade' the night we get the new alert , take the trade from the present price and make my objective the trigger price of the concept..that way i should win if it triggers....how ever this is gambling!!! and there have been at least 3 that have not triggered out of 9 in a month that have....food for thought?

 

[jason0181]

Andy

Gambling is not good, and in the end everyone will lose. I think as long as I have a good trading plan, and do not deviate from it, then it should be a good one. I will start to record some pyramid trades as well, once the alerts come good. I have only had one trade open so far, and to me it was a very obious one as I stated earlier in this thread. Maybe once I have seen some more come and go, I will have a much better understanding of the market, and when to pyramid.

 

[Arek Okrasa]

Hello Anddy

I am with you and other gus now...If you know what does mean...I am sure you know

First day today so...other questions are comming...does the software shows you the objective point? The raport from today shows this on GBPUSD but is not accurate...it`s wrong I would say. And what with tree others... Does the systems shows when to take the profit?

And how to manage the risk...?

Thank you
Arek

Jason i started to write this an agree with u....then i deleted it all because i think we stick with the system...paper trade ur method and see if it does work or use another account with smaller bets..but are we not just gambling when we see the trend on these trades...and would we pick the trades that trigger ourseleves??....I have actually another theory i want to try...we get the laerts 1 or 2 days before they trigger...im going to 'papertrade' the night we get the new alert , take the trade from the present price and make my objective the trigger price of the concept..that way i should win if it triggers....how ever this is gambling!!! and there have been at least 3 that have not triggered out of 9 in a month that have....food for thought?

 

[Arek Okrasa]

Hello GMP,

COngratulations on!

I am first day with the software...I wish after 5 weeks my rosolt will be similar...hope

COuld you tell me that the system shows you when to take the profit (objective) and how to manage the risk?

Thank you,
Arek

I have read a few nasty stories on T2W about how Capital Spreads allegedly treats winning customers - hopefully they're not as bad as they're made out to be, but it might be worth placing an equal bet with a rival SB firm rather than just doubling your stake at CS? Eggs and baskets, etc.

 

[anddy26]

Welcome to the club Arek!
First thing i have to say is..i hope you have not jumped in on the live trade!..it may work but it also may not..this trade will end up in profit for those who put it on at the start..but over the last few days the stop loss has been moved and is now in a +20 pip profit should it go against us....so if you have went in just now there is a higher probability of you loosing.

The objectives come thru a day after it triggers..but watch out for ur grey cells on ur updates...this means either the stop loss or the objectives have been moved.
U will have 3 trades pending...i think one will be taken off tonight as its went against us by too many pips the other 2 are hopefull!! so stick ur trade to order on and let it run...if ur on a 2k bank ur only going to loose £100 a trade

 

[GMP]

Hello GMP,

COngratulations on!

I am first day with the software...I wish after 5 weeks my rosolt will be similar...hope

COuld you tell me that the system shows you when to take the profit (objective) and how to manage the risk?

Thank you,
Arek

Sorry Arek, I think you've mistaken me for someone who's using Concept - I'm not, I'm just one of the tightarses who's sitting back and watching while the other guys risk their money, in the hope that it's a genuinely successful system!

 

[jason0181]

Arek

Welcome to the club. I would agree with Andy, and wait until you are famliar with the terms before placing a bet. I made that mistake when I got the system, and managed to make some losses :-( I was a novice then, but now I know better.

Take things slow, and build up your own confidence in the system before upping your bank, and stakes. I am doing the same as Andy and running for a month before I increase the level. If that fails, look on ebay for a nearly new forex system 🙂

 

[Arek Okrasa]

Thank you...do you have something interesting on e-bay...some new software?

Regards,
Arek

Arek

Welcome to the club. I would agree with Andy, and wait until you are famliar with the terms before placing a bet. I made that mistake when I got the system, and managed to make some losses :-( I was a novice then, but now I know better.

Take things slow, and build up your own confidence in the system before upping your bank, and stakes. I am doing the same as Andy and running for a month before I increase the level. If that fails, look on ebay for a nearly new forex system 🙂

 

[puregold24carat]

well yes i do have but NOT on sale on e-bay or anywhere.