Concept FX

[Arek Okrasa]

Hi Wilmer
A year you said...not to bad...

And about the software...from my previous experience on Concept...you should be very happy. But in the book they recommend to place trade with 5% risk, but concept are placing thier trades with 7.5% risk - just small different but much more money to loss or earn

Regards,
Arek

Hi Arek

Just over a year but nly on FTSE 350. I hope that I will be happy with it too.

 

[stevespray]

Hi Wilmer
A year you said...not to bad...

And about the software...from my previous experience on Concept...you should be very happy. But in the book they recommend to place trade with 5% risk, but concept are placing thier trades with 7.5% risk - just small different but much more money to loss or earn

Regards,
Arek

Arek - As far as I can see the Concept website shows trades that all risk 5%. How do you reach 7.5%?

In their results they show a capped bank of £25,000 and therefore each trade risks about £1,250 (give or take a few pounds basis the fact that sometimes the total value of a trade risk is not divisable by a round number).

Steve.

 

[Arek Okrasa]

Hi Steve
...so how we can account their job...for example:
a) 07-07 - GBPUSD (250 points away stop loss and £8pp - is is 5% from £1250 ? (1250/250 =£5 but they placed £8pp
or
b) 17-07 - UROUSD (11o points waway stop loss and £17 per point, so 1250/110=11 but they placed £17 pp
or
last one is the same

Maybe I do something wrong but in my opinion the are manage with 7.5% riosk

What do you think about
Arek

Arek - As far as I can see the Concept website shows trades that all risk 5%. How do you reach 7.5%?

In their results they show a capped bank of £25,000 and therefore each trade risks about £1,250 (give or take a few pounds basis the fact that sometimes the total value of a trade risk is not divisable by a round number).

Steve.

 

[anddy26]

Please don't call me a guru. I'm not at all. I'm still learning just like everyone else on here - I'm just a little further down the road than most and simply trying to teach a few of the things that have helped me make money consistently.



I don't remember your post but if I was the one that replied to it and upset you in anyway I sincerely apologise. I spend most of my free time trying to help new traders so if I "shot you down" then I was probably having a real off day. Once again, if so, many apologies.

Tom

Hi Tom.
Just back from my wee brake so this is my first chance to reply...Firstly..Guru status or not there are a lot of us who have been made aware of the price action system and i have read ur journal over and over and now i understand most of it and i am now making money out of it too! So i hold you with high regard with the intelligent posts uve created over the last year and have never seen you shoot anyone down. so it wasnt you...but your new thread is more for the advanced novices..lol..i might be back there yet!!


Now i go away for a few days and look at u lot!..lol...2 days without trades and u were running around like headless chickens..some even hinted of concept running off!!! ohhhh ye of little faith...I wasnt fussy, i knew there were more trades to come to make money out off so 2 or 3 days without any doesnt bother me ..BUT they could have said something on their website........unless the server runs their website too!!

But it looks like it hasnt been a bad week..mostly positive trades and i even had 2 of my own on the audusd come good while i was away...again thanks to Dantes journal and his explanations of the markets and S/R levels etc.

Think this thread again shows the success of concept..and we only had a week of boredom chat on the thread because the alerts were thin on the ground.

lets make hay while the sun shines

 

[Arek Okrasa]

Sorry mate ...you were right

Arek

Arek - As far as I can see the Concept website shows trades that all risk 5%. How do you reach 7.5%?

In their results they show a capped bank of £25,000 and therefore each trade risks about £1,250 (give or take a few pounds basis the fact that sometimes the total value of a trade risk is not divisable by a round number).

Steve.

 

[SandyW]

Arek!

The figures in that column are not the stop loss, they are the number of pips won or lost. Positive for wins, negative for losses. The stop-loss is fixed for each pair. Please read the Concept-FX instructions in the Quick Guide! Again and again and again, until you understand. They are very clear and very easy to understand.

Hi Steve
...so how we can account their job...for example:
a) 07-07 - GBPUSD (250 points away stop loss and £8pp - is is 5% from £1250 ? (1250/250 =£5 but they placed £8pp
or
b) 17-07 - UROUSD (11o points waway stop loss and £17 per point, so 1250/110=11 but they placed £17 pp
or
last one is the same

Maybe I do something wrong but in my opinion the are manage with 7.5% riosk

What do you think about
Arek

 

[Arek Okrasa]

Sandy....find a girlfriend...don`t spend too much time in fron of the computer

as i said to you...bey
Arek

Arek!

The figures in that column are not the stop loss, they are the number of pips won or lost. Positive for wins, negative for losses. The stop-loss is fixed for each pair. Please read the Concept-FX instructions in the Quick Guide! Again and again and again, until you understand. They are very clear and very easy to understand.

 

[SandyW]

Arek,

If that is how you respond to honest advice, then you really should get off here and give up trading.

It amazes me that you should have invested so much money in the system but have not even read the very clear and well presented instructions. It is not the purpose of this thread to substitute for simple instructions which the rest of us users have actually read. There is far more interesting stuff to discuss, and I just wish you would stop your incessant cackle.

I imagine that if someone started a new Concept-FX thread for intelligent traders, you would ruin that too, even though you could keep this one for yourself.

Sandy....find a girlfriend...don`t spend too much time in fron of the computer

as i said to you...bey
Arek

 

[anddy26]

Good Morning sandy...you were talking about pyramid trading..have you tried it on the gbpusd trade yet? and at what point do you decide to add to your stake and stop losses?

 

[SandyW]

Hi Graham,

Glad you enjoyed your break! I think it was one of the other guys who mentioned pyramiding. In my experience it can be hazardous, and at present my personal strategy is to be cautious!

Sandy

Good Morning sandy...you were talking about pyramid trading..have you tried it on the gbpusd trade yet? and at what point do you decide to add to your stake and stop losses?

 

[jason0181]

Hi

I tried to pyramid on the GBDUSD when it came good, and looked like it was going to surge 100 pips quickly, but it drew back, and I only had a 40 pip stop loss, so got hit. When there is more momentum on Monday, I will try again,but it will be a higher unit stake, and try to only obtain 40-50 pip movement.

 

[anddy26]

dont meant sound like a 'teach you how to suck eggs sort of chap but' is that not a gamblers logic?..why would you not put ur higher stake at the first opportunity..it now sounds like ur trying to get even with the market....and im afraid it doesnt care about persoanl emotions..
only saying this coz i made the same mistakes on several occasions in the early days.

 

[SandyW]

Pyramiding

Jason,

I am not an expert on pyramiding, and I have never worked it successfully. And of course I may be guilty of suggesting everything you already know (or of talking rubbish!)

But it seems to me it is a technique to use when you are trend trading, and there are good reasons to believe that a trend will continue strongly, and the key thing is to only increase your position fractionally, eg not double it. Think of a pyramid. You must also use a tight stoploss at each step of the pyramid.

If you are trying to piggyback pyramids onto Concept trades I think you may be lucky sometimes, but the probability is you will lose. Concept seems to work on reversals at support/resistance, not on trends. If you do want to increase your position size on a Concept trade, either do it from the start, or if/when the market overshoots the trigger price, wait for it to get half way to the stoploss, then increase size and use the same stoploss price to limit your increased risk.

I think another way to increase the profit on a Concept trade, is to close the position partially (between 50% and 80% of your position) at the objective price and let the remainder run with a break even or tighter stoploss. Again this is to take advantage of the likelihood of Concept overshooting a reversal.

Personally I am just trying to keep everything simple and stick to "the system", which has my confidence. What do you think?

Hi

I tried to pyramid on the GBDUSD when it came good, and looked like it was going to surge 100 pips quickly, but it drew back, and I only had a 40 pip stop loss, so got hit. When there is more momentum on Monday, I will try again,but it will be a higher unit stake, and try to only obtain 40-50 pip movement.

 

[jason0181]

Sandy

I agree. I increased my position once the trend started to show, and i was 'confident' that it would continue. If I had used a larger stop loss, then it would have worked fine, but then I would have been increasing my risk, with minimal reward. I may have gained on tha trade, but looking at the one that has just finished and closed as a loss, I would have been well out of it. I did not have much faith in that one working, but went with it anyway.

I am still happy with concept, and know that in the long run it will all be good. I am still in profit, so that has to be a good thing with only a month gone.

 

[wilmer55]

Having just started with Concept and put in my first triggers I was slightly disappointed that my first trade stopped out on an adjusted stop loss. Do all who are using Concept on this forum follow their position on changing stop losses to the letter or do you leave them at the originals that they give?

The reason I ask is I am used to trading my own way but have gone in to this to trade with the exact info we are provided with. I normally do not move my stop loss until I can get it to an almost break even position.

Any comments

 

[jason0181]

Wilmer

I agree with you in that I would tend not to move the stop loss until a profit underway, but with the EOD alerts coming, and this one came on Friday, it does allow for some market movement against during the day.

So far, I have responded to all the concept alerts, and moved stop losses when told to. It is not nice starting on a loss, but one of the other trades is looking like being a winner, so that should at least get you back to break even.

One of the hardest things with Concept is letting go, especially when you are used to trading, and have your own methods. Have some faith, and it will come good.

 

[wilmer55]

Jason

Thanks for that. It is exactly what I want to do and am happy to do that, but it takes a bit of getting used to and the temptation is to revert to what you feel comfortable with. However, I intend to keep to their alerts.

Wilmer

I agree with you in that I would tend not to move the stop loss until a profit underway, but with the EOD alerts coming, and this one came on Friday, it does allow for some market movement against during the day.

So far, I have responded to all the concept alerts, and moved stop losses when told to. It is not nice starting on a loss, but one of the other trades is looking like being a winner, so that should at least get you back to break even.

One of the hardest things with Concept is letting go, especially when you are used to trading, and have your own methods. Have some faith, and it will come good.

 

[jason0181]

Sticking to the alerts will make you a better trader overall, as I have learnt that it helps take the emotion out of the trades. Once you have an entry and exit, the risk is managed by only staking 5% of the bank, and you can happily do other things while checking the trades EOD.

 

[jason0181]

Andy

Are you considering going back in on the concept trade that just ended (and lost)? The set up was probbaly good, but with moving the stop loss, the trade was cancelled. I think the EURO has strengthened a lot, and the previos two concept trades also failed on this pair. They do have +510 pip profit for this year, but that was mainly earlier in the year when the market was doing more, and there was swings of 300+ pips. I think the best that can be hoped for woud be 40 pips going short, from when it reaches the high point again.

The current trade on GBPUSD is going the way we expected, but the potenial gain is only set at 170 pips. This is not far off a 1:1 risk reward ratio, and concept try to get 2:1 on all trades. This was a very predictble trade from what this pair had been doing for the previous week. I had gone several winning trades of 100-120 pips riding the same trends, but with much smaller stop losses. In the concept example, it may have been a better option to go with a smaller stop loss of 75 pips, and double the stak to get the same risk reward, and better return. I know this is messing with the system, and we all know that we dont want to do that, but it could be an added 'risk' feature in the system. GBPUSD is volatile, and often swings 100 pips in a day, but when catching it at the top end of the trend and going short, a smaller stop loss could be used.

Just some thoughts to discuss

 

[anddy26]

Andy

Are you considering going back in on the concept trade that just ended (and lost)? The set up was probbaly good, but with moving the stop loss, the trade was cancelled. I think the EURO has strengthened a lot, and the previos two concept trades also failed on this pair. They do have +510 pip profit for this year, but that was mainly earlier in the year when the market was doing more, and there was swings of 300+ pips. I think the best that can be hoped for woud be 40 pips going short, from when it reaches the high point again.

The current trade on GBPUSD is going the way we expected, but the potenial gain is only set at 170 pips. This is not far off a 1:1 risk reward ratio, and concept try to get 2:1 on all trades. This was a very predictble trade from what this pair had been doing for the previous week. I had gone several winning trades of 100-120 pips riding the same trends, but with much smaller stop losses. In the concept example, it may have been a better option to go with a smaller stop loss of 75 pips, and double the stak to get the same risk reward, and better return. I know this is messing with the system, and we all know that we dont want to do that, but it could be an added 'risk' feature in the system. GBPUSD is volatile, and often swings 100 pips in a day, but when catching it at the top end of the trend and going short, a smaller stop loss could be used.

Just some thoughts to discuss

Hi Jason
No i havnt even looked it to be very honest...iv a tough 3 weeks ahead of me at work and all im doing is putting the trades on and looking every 3 or 4 hrs at the capital spreads account...and its not making great reading just now..but we have had a good run..i feel sorry for you guys who have just bought the system..my first was a loser too but i increased my bank by 50% in 5 weeks..there had to be a bad run..hopefully this is it!!

not even looking at the charts except at 8pm then im looking for any trends and s/r level to put my own trades on as well as concepts..i am short on usdchf just now but its going against me too...not even sure if that was the trade that bottomed out..thats how much im looking at concept now...i put my trades on and leave them. its easy when u have other things to occupy ur mind