Concept FX

[sean uk]

Hi Ceydababy

This is from your own thread...maybe it's humorous to you...but to me says more than any trade you just made...

Yes and it seems the scum in this country breed like rabbits, whilst the rest of us have to pick up the pieces. I already sponser a family of five from Bolton and the Nigerian Autistic Lesbian Foundation with my income tax. The sooner they start getting real in this country the better and the cheaper it is for the rest of us....

This thread has lost the plot...it was supposed to be about the use or not of Concept FX...
What most commentaors have failed to point out is that all traders use information...be it S/R Fib levels/trends/volume/bank flow...and all institutions use price...just like Concept...the differenec being that the institutions trade in such large amounts they can influence direction...whereas most traders simply follow using...their rules...which are in effect...the same as black boxes...Concept actually uses, amongst other things...EOD price and is designed primarily for swing trading...hence buying it as an alternative scenario...it should not be followed religiously...I have taken only 3 trades out of the last 7...due to market volatility and I believe this system cannot handle it...so will sit out whilst market settles...but I continue to trade on a intraday basis and am currently short on the USD/CAD at 1.0799 with a stop at 1.0925 T/P level is at 1.0625...however...one trade is like a grain of sand...my yearly profits are healthy...that's all that counts...as for changing my Profile...yes I did because I knew you would look...it's all bull**** at the end of the day as no one is going to verify it...you could be a billionaire fo all I know...so when i joined i was hardly going to put up my true experience...only to be shot down by immature comments which are far removed from trading. I've only been interested in this thread for the reasons stated, and whilst there are other good threads to read through, it seems that a great deal of the posts are from the same names who clearly do not have anything better to do than rant about thei 'personal opinions'...go get some counselling if your so angry...

 

[sean uk]

re: USD/CAD...also shorted the usd/chf and long eur and gbp...however...the CAD was based on Bank Flow info so put mostt of my position on this and went light on the other 3 trades...wish I had done it the other way round as although theusd/cad is up by 70 pips...the other three are moving much more confidently...i expect gbp to break R2 an dinto R3 (although is some resistance on the

Fib level at 50% and I am also looking for eur an dchf to also break R2 and S2 respectively...we shall see...

 

[ceydababy]

Hi Ceydababy

This is from your own thread...maybe it's humorous to you...but to me says more than any trade you just made...

Yes and it seems the scum in this country breed like rabbits, whilst the rest of us have to pick up the pieces. I already sponser a family of five from Bolton and the Nigerian Autistic Lesbian Foundation with my income tax. The sooner they start getting real in this country the better and the cheaper it is for the rest of us....

This thread has lost the plot...it was supposed to be about the use or not of Concept FX...
What most commentaors have failed to point out is that all traders use information...be it S/R Fib levels/trends/volume/bank flow...and all institutions use price...just like Concept...the differenec being that the institutions trade in such large amounts they can influence direction...whereas most traders simply follow using...their rules...which are in effect...the same as black boxes...Concept actually uses, amongst other things...EOD price and is designed primarily for swing trading...hence buying it as an alternative scenario...it should not be followed religiously...I have taken only 3 trades out of the last 7...due to market volatility and I believe this system cannot handle it...so will sit out whilst market settles...but I continue to trade on a intraday basis and am currently short on the USD/CAD at 1.0799 with a stop at 1.0925 T/P level is at 1.0625...however...one trade is like a grain of sand...my yearly profits are healthy...that's all that counts...as for changing my Profile...yes I did because I knew you would look...it's all bull**** at the end of the day as no one is going to verify it...you could be a billionaire fo all I know...so when i joined i was hardly going to put up my true experience...only to be shot down by immature comments which are far removed from trading. I've only been interested in this thread for the reasons stated, and whilst there are other good threads to read through, it seems that a great deal of the posts are from the same names who clearly do not have anything better to do than rant about thei 'personal opinions'...go get some counselling if your so angry...

If you had written a reasoned post like this in the first place to my opinion (which I admit for the most part are forthright) rather than having a cheap crack about me being arrogant and a paper trader we might not have wasted 3 pages of the concept FX thread with a load of handbags.

At the end of the day you have your opinion on systems and I have mine I don't think they are going to change.

With regard to the above comment you pulled from another thread. I stand 100% behind what I said. I personally don't feel that the statement was in anyway racist. It speaks volumes about the country we live in today that what I have written can all of a sudden drop me in the Right wing Lunatic pot.

I invented what I thought to be a ludicrous charity that I'm sure if it existed would be funded in some part by my income tax bill. Furthermore if people decide they want to have 3 kids it's not down to me or any other tax payer you included to make sure that they are clothed, fed and watered. My girlfriend is a school teacher in tough schools in Inner London, you know these schools have such little funding that these kids (the majority of whom are extremely poor) don't even have a text book each. It's 1 book between 3 pupils.

You might feel that ludicrous charities, and dole moles who chose to breed like rabbits deserve your income tax. I personally would rather see it go in to these tough schools so the kids can get an education and improve themselves so the next generation isn't even worse.

Anyways it looks like our opinions with regard to Black Box Systems and Politics are poles apart.

 

[pvisser]

What a mad thread! Things have gotten so personal it's rediculous lol. Anyways im changing the subject back to Concept which is what it should be about. It's nearly 8:30 is everyone still looking to sit this one out?

 

[wasp]

Could someone sum up concept in one post?

 

[sean uk]

Ceydababy
Apologies...
in hindsight I may have overreacted...having seen your original post on this particular forum...I am not defending Black Boxes at all...just not interested in writing them off either as most systems have a place...the real deal is with trader psychology and money management...as for the politics...these are all personal and I don't see what significance they are on a trading forum?
Back to trading...on my chf short I am looking to target 109.50 eventually. I am also partialling out some of my usd/cad(quarter of my position) for 100 pips so far with a target of 104.35 eventually.
We also clearly trade in very different styles... but always happy to post trades as I see them...where would I post these?

 

[sean uk]

My eur long has now broken S2 so will continue to target 1.4444...also the gbp trade has now hit target of 1.8235 (R3) as said in eralier post so will now take all position off for 200 pips at quarter size. chf remains on...

 

[pvisser]

Could someone sum up concept in one post?

To start with everyone thought it was a scam criticising the person who even dared to ask the question whether anyone has used it. Then when someone actually bought the system we found out is was not a scam, but they genuinely send you specific trades which you can enter and exit using their triggers and limits.

Andy posted results of the first month of trading and it was extremely successful. Others who have used it since May have made really good profits as well. Recently there have been several losses compared to only a few wins and people have been having major drawdowns.

Another point worth making is that Concept never hid the fact that these exact drawdowns occur.

So as results are concerned, its been profitable so far since May, but unprofitable in the last month or so. We cannot tell whether the system is robust enough to lay out a consistant profit yet, but it's too soon to tell.

Therefore in my opinion we should wait for more long term results to unfold before we can form a fair conclusion. But in terms of the system it has done exactly what concept have laid out on their website.

 

[sean uk]

should have also gone long gbp/jpy with such a strong pound move...doh...am taking the eurlong off as it's stopped at support Fib 23.6 and S2 and also taking off chf short as it's stalled at S2...these were also at quater position size only and have generated 212 pips eur and 197 chf. usd/cad is a bigger position size and will remain...have now moved stop to 1.0760 to lock in a little more profit.

 

[wasp]

To start with everyone thought it was a scam criticising the person who even dared to ask the question whether anyone has used it. Then when someone actually bought the system we found out is was not a scam, but they genuinely send you specific trades which you can enter and exit using their triggers and limits.

Andy posted results of the first month of trading and it was extremely successful. Others who have used it since May have made really good profits as well. Recently there have been several losses compared to only a few wins and people have been having major drawdowns.

Another point worth making is that Concept never hid the fact that these exact drawdowns occur.

So as results are concerned, its been profitable so far since May, but unprofitable in the last month or so. We cannot tell whether the system is robust enough to lay out a consistant profit yet, but it's too soon to tell.

Therefore in my opinion we should wait for more long term results to unfold before we can form a fair conclusion. But in terms of the system it has done exactly what concept have laid out on their website.

Thanks, all things considered, and the fact that you are essentially, blindly following someone else's calls, if it has proved profitable for some, at certain periods, and what the website said is correct, then due diligence shows you get what you pay for and their should be no complaints. As to whether it is a scam or not, well, if it has been brought and profits made same as what is said on the site, then it seems perfectly legit to me.

Whether it will continue to prove profitable has nothing to do with the website/company being a scam, more so their 'system' just being poor.

I don't recommend doing anything along these lines personally, but, there is no reason pinbars, breakouts, inside bars etc won't have a bad run but that doesn't make those promoting them scammers.

End of the day, only those who have the hard earned skill and knowledge through months and years of dedicated study can really expect to succeed consistently week in and week out and have a future trading, but for those choosing to use a black box, I would suggest seeing a years worth of results before passing over money. Trading is a marthon not a sprint.

What may be wise for those interested, it would be worth noting the good and bad runs, comparing the markets and you can see how they reach their signals, and you'll know, for example, if it was a trend based system, when its ranging, to stay out (or vica versa dependant).

 

[bigphil22]

Could someone sum up concept in one post?

It may, or may not have worked in the past. It hasn't worked for a considerable number of trades now. Opinions are divided to it's long term efficacy.

It costs £3995 if you haggle a bit.

Phil

 

[ceydababy]

Ceydababy
Apologies...
in hindsight I may have overreacted...having seen your original post on this particular forum...I am not defending Black Boxes at all...just not interested in writing them off either as most systems have a place...the real deal is with trader psychology and money management...as for the politics...these are all personal and I don't see what significance they are on a trading forum?
Back to trading...on my chf short I am looking to target 109.50 eventually. I am also partialling out some of my usd/cad(quarter of my position) for 100 pips so far with a target of 104.35 eventually.
We also clearly trade in very different styles... but always happy to post trades as I see them...where would I post these?

We agree on a couple of things :clap:

Trading Psychology and Money Management are 90% of what trading is about if you ask me. I know a guy who is consistently profitable trading two dema crossovers (anddy knows him too) Not the most robust setup but his approach (psychology) and money management are off the scale and he is indeed extremely profitable.

Now forget black boxes for a moment if someone could bottle the right mindset and sell it they would make millions.

I also agree that politics probably have no place on a trading forum, I was just ticked that some bugger had nicked my wing mirrors !

Anyways....back to Concept FX trading system

 

[pvisser]

No trade for tonight again. Which I'm pretty happy about to be honest. I am going to take every trade they give me though, despite the terrible run of losses, because imagine they pull off one of their infamous 450 pip trades i'll be kicking myself. Especially since I spent 4k on the system and only trade their losers but sit on the bench for their winners (which I must admit are far and few between since I have had the system).

 

[bongofury]

listen guys this is becoming boring. if you have useful comments about the thread post them. if not this personal stuff is just not helpful and actually confirms the view of a lot of people that the people who use these sites have nothing better to do. i know they arent but just read this crap back and see what you would think as first time reader.when anddy and others started this i dont think this was what they had in mind. these markets are tough and these threads are here for us to help each other.

ps...i never thought i would see a ftse 100 company move down 50% and up 50% in one day and i worked in the city from 81 to 96 !

anyway i am prob going to go for fx53. the guy seems genuine and it costs a good trade.

 

[Lee Shepherd]

:!s...i never thought i would see a ftse 100 company move down 50% and up 50% in one day and i worked in the city from 81 to 96 !

anyway i am prob going to go for fx53. the guy seems genuine and it costs a good trade.

Then surely you would have seen this many times over in oct '87.

 

[bongofury]

nope. as i remember market went down 20% in a day but by xmas was higher.volatility was lower and hedge funds were non existent. i dont recall any major banks going bust or fannie and freddie, etc etc. 87 was scary but now looks like a blip. i doubt if this will look like a blip in 5 years time but i could be wrong.

 

[SIMONS1874]

Lloyd Bennett

I am not sure if Concept FX users are aware but if they opened an account with IG index on Concept FX's recommendation they agreed (unless they positively excluded it) to pay a proportion of the spread on any trade to a Lloyd Bennett.

I feel it is a bit galling losing money on Concept FX trades and knowing Mr Bennett is still profiting from it but I find it particularly galling that in any other trade I do and I usually only trade the GBP/JPY which has a spread of 8 pips he is making money on each and every trade

At £3 a point and say 5 trades a day,even if he is only getting one pip thats £15 a day
Even if thats more than the average user there is still an enormous amount of money heading towards Mr Bennett
I have stopped it by opening a fresh account and excluding him from the commission
If I am not making money on his trades why should he?

 

[gamma]

I am not sure if Concept FX users are aware but if they opened an account with IG index on Concept FX's recommendation they agreed (unless they positively excluded it) to pay a proportion of the spread on any trade to a Lloyd Bennett.

I feel it is a bit galling losing money on Concept FX trades and knowing Mr Bennett is still profiting from it but I find it particularly galling that in any other trade I do and I usually only trade the GBP/JPY which has a spread of 8 pips he is making money on each and every trade

At £3 a point and say 5 trades a day,even if he is only getting one pip thats £15 a day
Even if thats more than the average user there is still an enormous amount of money heading towards Mr Bennett
I have stopped it by opening a fresh account and excluding him from the commission
If I am not making money on his trades why should he?

Well considering how much he has already made on the buyers of his system this must just be small fry or shall we say the icing on the cake

 

[sean uk]

quick update re my cad sell yesterday at 1.0799...had taken quarter off and moved stop to 1.0760...closed now for 194 pips..has hit resistance at an obvious trendline and would rather close and be done for week as the swings have been too eratic of late...hence no Concept trades as system clearly can't read these ranges...

 

[sean uk]

ceydababy...sure you've read it but if not...Trading in the zone...great for trading psychology (author:Mark Douglas)