Concept FX

tonypex said:
Hi Griff
A tad late reply - I found your message this while spending today researching ConceptFX . The link is to 'The Ultimate Forex Predictor' which has been given quite thumbs up from Business Opportunities website, where 4 other users plus the website reported 10/10.
This website has led me to Concept which has also been reviewed and given 10/10 out of one reviewer.
I am skeptical about all these packages and like to research myself.
If you need anymore info on them let me know.
Click to expand...

Ahh but here it gets quite a different review: http://www.trade2win.com/boards/first-steps/31023-forex-software.html

I admit I haven't read the entire thread but it would SEEM from reading the first few posts from users of the system that it doesn't deliver the promised 22 pips per day. :-0
 
bigphil22 said:
Ahh but here it gets quite a different review: http://www.trade2win.com/boards/first-steps/31023-forex-software.html

I admit I haven't read the entire thread but it would SEEM from reading the first few posts from users of the system that it doesn't deliver the promised 22 pips per day. :-0
Click to expand...

As I said I am quite skeptical about these systems but it is my belief that the Business Opportunity Website is quite independent and has road tested this software and has published 571 pips in the 3 weeks. But it is not a Black Box System that does it all for you!

I myself need more convincing and am waiting for a further report which has been promised.

I am getting near to purchasing ConceptFX - but if you read some of the earlier posts you might be put off this system too.

Most systems are dependent on the user following (and understanding) instructions, sadly, quite a few fail at this point.
 
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Tony

You are right that most systems fail because people do not follow the instructions. Discipline is one thing that you need when putting your faith into something like this, and any other trading system.

There are many stories of how people have been taught to trade, and then lost all their money as they did not follow the system and theorys layed out before them.

What I have found from reading many theads on how systems, is that there are many many people wishing to give negative opinions, and the real users quietly keep taking the rewards and do not have their say. All too often good ideas are not taken up because of too many sceptics. This thread started that way, with all the experienced traders saying that concept was a scam.
 
jason0181 said:
Tony

You are right that most systems fail because people do not follow the instructions. Discipline is one thing that you need when putting your faith into something like this, and any other trading system.

There are many stories of how people have been taught to trade, and then lost all their money as they did not follow the system and theorys layed out before them.

What I have found from reading many theads on how systems, is that there are many many people wishing to give negative opinions, and the real users quietly keep taking the rewards and do not have their say. All too often good ideas are not taken up because of too many sceptics. This thread started that way, with all the experienced traders saying that concept was a scam.
Click to expand...

I think the problem is often that systems are marketted to make it look easy to make money with them. The reality is that, whatever the technical merits of a system, it does depend on the user. Not just "following instructions", but being able to use their time appropriately in the context of the way the system works, having an appreciation of what the whole trading process involves, having the correct mindset, and emotional control, as well as using a system that suits their personality and time management situation. FX Predictor advertising claims that money can be made, and that may be so. But not necessarily by just anyone. For a start it is not a "fire and forget" system. You have to watch. Concept by comparison, does seem to offer a much more straightforward trading process for the inexperienced or time poor user, because of the EOD approach.
 
jason0181 said:
Tony

You are right that most systems fail because people do not follow the instructions. Discipline is one thing that you need when putting your faith into something like this, and any other trading system.

There are many stories of how people have been taught to trade, and then lost all their money as they did not follow the system and theorys layed out before them.

What I have found from reading many theads on how systems, is that there are many many people wishing to give negative opinions, and the real users quietly keep taking the rewards and do not have their say. All too often good ideas are not taken up because of too many sceptics. This thread started that way, with all the experienced traders saying that concept was a scam.
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Hi Jason,
Yes they do. May I just say I have spent the whole morning reading this thread from beginning to end and I must applaud you guys particularly Andy or Graham (not sure which) who had the faith 'to go where no-one had gone before' and then go on the post the results - it was like reading a book - fantastic. Also Sandy who has given me quite a few chuckles this morning with his comments to other users (who clearly could not be bothered in learning the basics) and for sharing his thoughts and knowledge. Perhaps it should be compulsory for all new joiners to read the whole thread before taking up valuable time asking the same questions over and over (myself included) thank you all for you patience. I hope to join you soon.
 
SandyW said:
I think the problem is often that systems are marketted to make it look easy to make money with them. The reality is that, whatever the technical merits of a system, it does depend on the user. Not just "following instructions", but being able to use their time appropriately in the context of the way the system works, having an appreciation of what the whole trading process involves, having the correct mindset, and emotional control, as well as using a system that suits their personality and time management situation. FX Predictor advertising claims that money can be made, and that may be so. But not necessarily by just anyone. For a start it is not a "fire and forget" system. You have to watch. Concept by comparison, does seem to offer a much more straightforward trading process for the inexperienced or time poor user, because of the EOD approach.
Click to expand...

Yes Sandy you are quite right and it was on that basis I dismissed FX Predictor and went on to find Concept and this forum.
 
How often do Concept post results on thier site?

The subject line says it all really. The last posted results are from 30th July.

Back to work tomorrow after 5 weeks hols :cry:

Cheers

Phil
 
When companies like these are winning results are posted quickly. When they are losing I suppose you could say they switch to a lagging indicator.........
 
scan i think you mat be wrong there.........but we will wait and see....how long have u noticed them posting their winning trades?
 
sorry sounded bitter that..lol.......i have never notice them taking their time postiny any trades..usually 2-3 weeks behind..if 4 or 5 losses put people off then this is not their game..
 
anddy26 said:
sorry sounded bitter that..lol.......i have never notice them taking their time postiny any trades..usually 2-3 weeks behind..if 4 or 5 losses put people off then this is not their game..
Click to expand...

So true, as I understand it they're on a loosing run right now but I'm getting in this week! (I'll be giving you a call ;) later in the week)
 
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I came in at the start of the three losses at the end of July. I am showing 4 losses and one win with Concept. It's a fact of life or rather trading. I have been trading FTSE 350 for the last year and am running at 35% wins to 65% losses but I manage my risk. I am never exposed to a risk of greater than 1% of my capital and I never enter unless i am on a 3:1 reward risk ratio. I acquired concept so as to broaden my trading aspect and have entered knowing I could loose all my capital. We have to accept that. Concept are not giving us a system that is going to make us rich quick, but we can hope. They are giving us a system that has demonstable results and the results thay post are accurate as those who have been using it longer than me can verify. However, all of us have to appreciate that we are entering a time whihc hasn't been seen on the markets since 93 and in certain areas never before - especially if we look at Oil prices. So as a piece of advice - there are no guarantees go into this with your eyes open and the knowledge that you could not make any profit. From that perspaective every win is a bonus.

I have no regrets and am waiting to see the wins come in - biut if they don't, no problem.
bigphil22 said:
So true, as I understand it they're on a loosing run right now but I'm getting in this week! (I'll be giving you a call ;) later in the week)
Click to expand...
 
Concept is basically Tradewin for Forex. I noted Tradewin were always quick to pin up winning runs but noticably more reticent when losers abounded.
 
Scanjet said:
Concept is basically Tradewin for Forex...............QUOTE]

Same stable maybe, but not the same at all.

Scanjet,

You are throwing back to the early days of this thread (and you get the credit for starting it) when you were kicked in the head by some cynics. All marketing and advertising contains an element of spin! Do you use, or have you used, either or both systems? If so, I am surprised you feel so negative. But I think you haven't.

For me, Tradewin (which is/was not an EOD system) failed partly because I found it hard to get the trades on. I did make steady profit, and never lost money, but then as we all know the market got difficult, and Tradewin was no longer suited to it. It happens. I don't think Concept will have the same problem. But if by chance Concept's surge in profitability in the first 6months of 2008 goes the other way, we will all be very unimpressed with our purchase!

If you haven't bought in, I hope you do finally make the plunge, instead of only commenting from the touchline!
Click to expand...
 
UK’s Top Trading Seminar

I hope none of my friends on here who may recently have had T2W spam (I happened to check my Spam Box) advertising "Complimentary Tickets to UK’s Top Trading Seminar", think of signing up.

This has been running for years. It is about trading stocks etc, not FX. The guy who runs it is very personable and extremely persuasive, and not shy of telling you how rich he is and how much he gives to Charity. I foolishly fell for the hype a while back. I doubt it has changed, because the formula must be making the guy a mint. Imagine taking £200,000 (two hundred thousand pounds) for a weekend! Some people would like to have that over 10 years. The free hors d'oevre I mean seminar is a crowded blatant marketing event for the main course, which would probably cost you £2000 odd (with discount for agreeing to be signed up in a rush) for a weekend in London with 100 or more other greedy I mean eager learner traders who like you will have paid upwards of £2000. The free Property Seminars you see advertised are in the same vein. I went to one of these, and when my very reasonable and polite questions touched a spot, I was on the point of being thrown out, but was already on my way, as I couldn't stand the lies and arm twisting a moment longer.

There will be nothing valuable in the free hors d'oevre and the main course for which you will be paying will give you the impression you can go home and immediately start getting rich. There may well be some genuine trading technique imparted, but you will be hyped up, go go sort of stuff etc!! It is useless for novices and would really not add anything to the sum of knowledge of those who have read a few books. Maybe one or two will raise their game, but not the majority. When you are really really fired up, they will also try selling you a video for £500!!

Overall I consider Concept to be a snip in comparison, with far more chance of helping you trade successfully.

If anyone has reason to think I have got my facts wrong, given that it is a while since I attended, do put me straight. Likewise, if anyone attended and is now rich as a consequence I would be intrigued to hear from them.
 
SandyW said:
I hope none of my friends on here who may recently have had T2W spam (I happened to check my Spam Box) advertising "Complimentary Tickets to UK’s Top Trading Seminar", think of signing up.

This has been running for years. It is about trading stocks etc, not FX. The guy who runs it is very personable and extremely persuasive, and not shy of telling you how rich he is and how much he gives to Charity. I foolishly fell for the hype a while back. I doubt it has changed, because the formula must be making the guy a mint. Imagine taking £200,000 (two hundred thousand pounds) for a weekend! Some people would like to have that over 10 years. The free hors d'oevre I mean seminar is a crowded blatant marketing event for the main course, which would probably cost you £2000 odd (with discount for agreeing to be signed up in a rush) for a weekend in London with 100 or more other greedy I mean eager learner traders who like you will have paid upwards of £2000. The free Property Seminars you see advertised are in the same vein. I went to one of these, and when my very reasonable and polite questions touched a spot, I was on the point of being thrown out, but was already on my way, as I couldn't stand the lies and arm twisting a moment longer.

There will be nothing valuable in the free hors d'oevre and the main course for which you will be paying will give you the impression you can go home and immediately start getting rich. There may well be some genuine trading technique imparted, but you will be hyped up, go go sort of stuff etc!! It is useless for novices and would really not add anything to the sum of knowledge of those who have read a few books. Maybe one or two will raise their game, but not the majority. When you are really really fired up, they will also try selling you a video for £500!!

Overall I consider Concept to be a snip in comparison, with far more chance of helping you trade successfully.

If anyone has reason to think I have got my facts wrong, given that it is a while since I attended, do put me straight. Likewise, if anyone attended and is now rich as a consequence I would be intrigued to hear from them.
Click to expand...

G'Morning Sandy,
These seminars are like 'Fruit Machines' - the only people who get rich are the owners!
My experience in life is you get nothing for nothing.......ever!
 
tonypex said:
G'Morning Sandy,
These seminars are like 'Fruit Machines' - the only people who get rich are the owners!
My experience in life is you get nothing for nothing.......ever!
Click to expand...

Very true - Don't go anywhere near them!

With regard to Concept FX - I would suggest that you need to be prepared to run the system for one year minimum following all the signals to the letter. There is no point getting it if you are likely to start 'filtering' trades after 3 or 4 back to back losses. This means that you have to mentally accept that your initial bank is 100% at risk. Therefore you will only be able to risk a bank which is within your comfort zone.

Steve.
 
 
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Peeps should be made very aware that sites like 'forexpeacearmy' have their own agenda's. Many people open 'forex review' sites in order to generate 'click through' traffic so that they themselves can make money when a potential client buys one of the reviewed systems. This obviously represents a fairly clear conflict of interest in terms of which reviews they allow to be posted. I know of people who have purchased systems, found them not to work, typed in a poor review only to find that their review never gets posted. The potential for well worked scams in this area is massive. In some cases the scam artist will register multiple nicknames and create a whole thread having a conversation with himself in an attempt to create an image regarding a system which he is vending.

Be very careful.

Steve.
 
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