Concept FX

Concept's response to recent poor trading records...

Hi All,

New to posting in these forums, but have been trading for a while and after watching the posts/records/news about Concept for a few months I decided to purchase the system on their current deal:

£1995 up front
2 x payments of £1000 at 4 month intervals (ONLY IF SYSTEM IS PROFITABLE)

I thought that was reasonable, and after speaking with Jeran at their office I get the impression they are fairly straight forward. My understanding is that they are offering this deal to incentivize their system, which at present is taking a beating....but anyone who's been trading for a while (or even just studied a good trader's long term results) will know that often it's a game of many cycles, so I'm happy to take the long view and buy on a low - ride it out to see if it performs in the long run. <I will post results also when I get up and running>

Users will be aware that few trades have been executed recently (this can be seen in the results posted on their website too), and I'm told that this is due to the volatility constraints within the system. To my understanding this black box system is not also 'finessed' by their traders like many systems are, so in very volatile periods such as this one it is likely that next to no trade signals will be generated.

That's fine by me really. As someone mentioned earlier in this thread many of the large banks and institutions only use black box systems so I'll put my faith in the system and hope it performs over the long term. (Am I sensible or just too trusting...lol! :p)

Anyone else signing up on this special offer?

Jem
 
jemimah6 said:
Hi All,

New to posting in these forums, but have been trading for a while and after watching the posts/records/news about Concept for a few months I decided to purchase the system on their current deal:

£1995 up front
2 x payments of £1000 at 4 month intervals (ONLY IF SYSTEM IS PROFITABLE)

I thought that was reasonable, and after speaking with Jeran at their office I get the impression they are fairly straight forward. My understanding is that they are offering this deal to incentivize their system, which at present is taking a beating....but anyone who's been trading for a while (or even just studied a good trader's long term results) will know that often it's a game of many cycles, so I'm happy to take the long view and buy on a low - ride it out to see if it performs in the long run. <I will post results also when I get up and running>

Users will be aware that few trades have been executed recently (this can be seen in the results posted on their website too), and I'm told that this is due to the volatility constraints within the system. To my understanding this black box system is not also 'finessed' by their traders like many systems are, so in very volatile periods such as this one it is likely that next to no trade signals will be generated.

That's fine by me really. As someone mentioned earlier in this thread many of the large banks and institutions only use black box systems so I'll put my faith in the system and hope it performs over the long term. (Am I sensible or just too trusting...lol! :p)

Anyone else signing up on this special offer?

Jem
Click to expand...

Learn to flippin trade and quit with these jokers. Why doesn't anyone learn that in order to make the money that you obviously desire these "black box" systems are not the answer. YOU need to put in the graft. I lost money consistently for a long time before I finally managed to start pulling something back. IF it was that easy everyone would be buying concept and making millions.
 
I appreciate your point ceydababy. I have been trading quite a while, I've done the learning curve and do the hard work - so I do get what you mean.

For me I also run my own business, so whilst I will continue to trade based on my own judgement the idea of having some extra trade ideas thrown at me now and then is pretty appealing given the limited amount of time I can dedicate to trading weekly.
I do get what you mean though - it is naive to think that you can buy a magic cash-producing system, but I wouldn't be trading at all if I couldn't afford to lose the money :confused: ...I wouldn't like to lose it, but I began spread trading with the firm knowledge that I very well might!
 
jemimah6 said:
Users will be aware that few trades have been executed recently (this can be seen in the results posted on their website too), and I'm told that this is due to the volatility constraints within the system.

Jem
Click to expand...

Jem, there have been (according to my trading record) 4 trades signalled since the 1st sept and they all lost. Concept haven't posted these to their site. Yet.

Two have been signalled this week, one was cancelled and one is still pending, way away from the current level.

Phil
 
jemimah6 said:
That's not good! Have you contacted them to ask about this?
Click to expand...

No, I haven't, I have read this thread and seen that others have spoken to or visited them. The point is that they don't make any promises and have a comprehensive disclaimer on their site.

Phil
 
Last edited:
ceydababy said:
Learn to flippin trade and quit with these jokers. Why doesn't anyone learn that in order to make the money that you obviously desire these "black box" systems are not the answer. YOU need to put in the graft. I lost money consistently for a long time before I finally managed to start pulling something back. IF it was that easy everyone would be buying concept and making millions.
Click to expand...

Excellent advice. I, also, lost money with these "black box" type systems. The only system, apart from one that you might construct yourself, that's works is FX53.
 
The results are 3 weeks behind as its been the whole year lol. It's just how it they do it, even through winning periods.

People on this thread seem to have the worst psychology ever! As soon as you have a few losses you seem to get extremely emotional. If you used 5% per trade thats your fault for having massive drawdowns especially it it's 5% on all your trading capital.

I started with £2,000 with conecpt and use the 5% risk, but I have money elsewhere which I trade with so in effect I am actually risking less than 1% per trade. On my other accounts I risk 3% per trade of my overall portfolio and have had a good two weeks which alone has more than triple made up for concept's losses. If you have bought the system at least give it a year before you judge the hell out of it. That's what I'm doing. If it doesn't work then scrap it.

When people complain about losing money when they trade it makes me angry. The first thing you EVER learn before you even have a trading account is that you should trade with what your prepared to lose. If concept ends up failing and you lose your initial trading amount, thats too bad. At least you can go back to your other accounts and carry on trading as normal.
 
Pvisser I completely agree with you - thanks for the corroboration of common sense!

We seem to have all agreed that there is no 'easy shortcut' to becoming millionaires (lol), but those of us who have purchased it need to test the system with a capital stake we are prepared to lose - like any trading, black box/system or otherwise.
This site does get very negative at times. It seems like the minute someone says anything 10 people jump on them to tell them what idiots they are and chew them out for it :(
Forums seem to be a bit cyclical like that and go through very negative patches.

Props to you for common sense (y)
 
Phil

I have just upgraded to the new version of concept, so hopefully that will bring this long run of losses to an end. The current trade has almost hit the stop loss, but think it may hit it later tonight. Keeping things crossed for everyone that it does reverse and come good.
 
2 things guys...one is new version????? uv lost me...and the other is why did u not let it run past ur stop loss..u must have been watching it?...i did and have put an order to buy on at the original level but im 50 pips away so if it comes back..theres a better chance of it going the right way..
 
jason0181 said:
Phil

I have just upgraded to the new version of concept, so hopefully that will bring this long run of losses to an end. The current trade has almost hit the stop loss, but think it may hit it later tonight. Keeping things crossed for everyone that it does reverse and come good.
Click to expand...

Same here. I watched the trade go down and even considered a short to offset my expected loss, (trading psychology anyone?) but it seems to have flattened out a little and the precipitous drop to stop avoided. For the time being :)

I just added the concept target and that seems pretty high. We shall see what the morning brings, I 'm off to bed :D
 
New features that I can see in version 6.6

Calculator function that allows you to enter bank size, % risk, and it will tell you how many points per pip to trade. Not that useful, as I am sure everyone does that in Excel.

Analsys configuration does look useful, as it lists the 37 technical indicators used and can select or deselect what suits your trading style. Not sure if it works, as I have deselected some, and got no alerts, so will have to try them all out. Problem I can see here, is that we will never know what the exact settings underneath the skin, and how they all interact. We could get lucky, and work in the current market, and not in others.
 
anddy26 said:
2 things guys...one is new version????? uv lost me...and the other is why did u not let it run past ur stop loss..u must have been watching it?...i did and have put an order to buy on at the original level but im 50 pips away so if it comes back..theres a better chance of it going the right way..
Click to expand...

Got an update mail from Jeran version 6.6. Have you not had the mail?

It hasn't reaced the stop loss, it seems to have turned around and is now (at 21:45 uk time) a few pips in profit!! (y)

Tempting to put in another trade with a higher risk ;) But I won't.

Phil
 
lol jason what would sods law do for us 95%...dont want to gloat but its not often i get it right(for the short term) im in this trade now as i watch it sale on by last night once it was 50 pips clear i put the trade to buy back on at their original levels, once its 50 pips clear will go to break even. and maybe trail the stops after 100 pips
 
The new version of concept has a risk manage function as well. If you take the highest risk you will win approx 35% of trades. If you take the lowest risk you can approx win 75%. That seems like a nice option to have!
 
You must log in or register to reply here.

Similar threads

E
Concept-FX
Replies
1
Views
2K
wasp
wasp
Dainesi
Concept-FX with Vista
Replies
6
Views
2K
SandyW
S
A
concept fx
Replies
3
Views
3K
pseudo straddle
P
I
FXTM, Intertrader and Xtrade
Replies
0
Views
2K
iandh2010
I
J
Best Spread Betting Platform for FX Option
Replies
0
Views
1K
johnboy1985
J
Top