stevespray
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I notice that the lastest trade (EUR/JPY Long) was technically stopped out overnight but..... as my FX dealer didnt open until midnight I was still in the trade. Therefore I closed the trade this morning and bagged over £600 when technically the system would have recorded a £620 loss!
Steve.
Steve.
That's lucky I suppose. My Alpari account only showed a gap which never really threatened my stop loss too much. Do you mean it was technically stopped out according to IG and Concept? Does this mean I should close my trade for a small profit? I think I am going to manage it manually.
stevespray
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The brokers that open at 9pm UK time on a Sunday evening (normally 10pm but we haven't altered our clocks yet in the UK) show a sell off in the EUR/JPY which occured after the open with a low at around 125.50 which is obviously below the new stop level given if you followed the system on Friday evening. The low was V shaped which means that if your broker opened a couple of hours later, which is true of many UK based brokers, then you were safe and your stop was never touched. Last time this happened (and we didnt spot it) the trade was just shown as flat on the software when it was run on Monday evening.
At the moment it seems to be trendy gentle upwards so manually managing the trade looks a good shout. If you can nurse it through tonights update then you'll find out the 'official' answer!
Steve.
At the moment it seems to be trendy gentle upwards so manually managing the trade looks a good shout. If you can nurse it through tonights update then you'll find out the 'official' answer!
Steve.
stevespray
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Looks like the trade hit the profit target of +200 pips.
Happy days!
Steve.
Happy days!
Steve.
Yes that must be annoying. Are you with IG? This is not the first time its happened. We got stopped out prematurely before by IG when the rest of the brokers still had their trades open. I am now trading concept with Alpari which gives tighter spreads and opens that little bit later on a Sunday. I will have to pay tax though once I get above 8k, but then I will simply move to capital spreads where they open at the same times as Alpari for forex.
Those were two nice consecutive wins even though one won't be displayed on the website results.
I am, and you are right this is not the first time I have lost on a "winning" trade because of IG. I made a win and a loss , and took a pounding on the current trade on the roll over. I have been considering Alpari for FAPT, so it would make sense to go to them with Concept. The 8 K problem is a distant dream for me :-D
stevespray
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The time the different dealers open, I would suggest, is a case of swings and round-a-bouts. In the two cases we know about they have both gone against the Concept positions. This will not be true 100% of the time and there will be cases where money is saved. For example, imagine that the EUR/JPY carried on dropping another 100 pips while the late opening brokers were still shut? Your stop would get massively gapped and you'd be sat on a larger loss than your set stop loss.
Over the longer run both types of event will happen.
Looks like we were unlucky with our EUR/USD - it just managed to clip our stop before taking off and never looking back... its 500 pips higher now!
Steve.
Over the longer run both types of event will happen.
Looks like we were unlucky with our EUR/USD - it just managed to clip our stop before taking off and never looking back... its 500 pips higher now!
Steve.
Help!!
Hi
Can some kind soul who knows that I have Concept PM me last night's signal? I had just updated the numbers when my graphics card died on my PC :-(
I saw the green line and was just logging into my brokers site when the bloody thing died.
Cheers
Phil
Hi
Can some kind soul who knows that I have Concept PM me last night's signal? I had just updated the numbers when my graphics card died on my PC :-(
I saw the green line and was just logging into my brokers site when the bloody thing died.
Cheers
Phil
I thought I'd revisit this thread since the battle scarred survivors appear to be increasing in confidence and starting to covet that new Porsche.
Out of interest, what trade risk is Concept advocating now? I know it was 5%, a figure far too high IMHO. Looking at their listed results I can see little consistency. Staking varies from trade to trade. Losers often have small stakes. Of course, this looks good as the losers then appear less destructive than they otherwise should be if staking was consistent. When they provide your evening trades do they indicate the stake they are using or do you only discover this after the trade has completed and you see the result on their website?
What overall result have you achieved in 2009 assuming some of you are actually using a fixed risk and not varying it from trade to trade?
Just curious.
Out of interest, what trade risk is Concept advocating now? I know it was 5%, a figure far too high IMHO. Looking at their listed results I can see little consistency. Staking varies from trade to trade. Losers often have small stakes. Of course, this looks good as the losers then appear less destructive than they otherwise should be if staking was consistent. When they provide your evening trades do they indicate the stake they are using or do you only discover this after the trade has completed and you see the result on their website?
What overall result have you achieved in 2009 assuming some of you are actually using a fixed risk and not varying it from trade to trade?
Just curious.
I thought I'd revisit this thread since the battle scarred survivors appear to be increasing in confidence and starting to covet that new Porsche.
Porsche? Usch, how terribly 1987.
Out of interest, what trade risk is Concept advocating now? I know it was 5%, a figure far too high IMHO. Looking at their listed results I can see little consistency. Staking varies from trade to trade. Losers often have small stakes. Of course, this looks good as the losers then appear less destructive than they otherwise should be if staking was consistent.
I too have noticed this. I'm pretty sure the results they post are hypothetical. If they were really trading the system they would have trader's statements to publish a la FAPT.
When they provide your evening trades do they indicate the stake they are using or do you only discover this after the trade has completed and you see the result on their website?
After the trade.
What overall result have you achieved in 2009 assuming some of you are actually using a fixed risk and not varying it from trade to trade?
Just curious.
A reasonable profit. Nothing to buy an Aston with :-D
Porsche? Usch, how terribly 1987.
Out of interest, what trade risk is Concept advocating now? I know it was 5%, a figure far too high IMHO. Looking at their listed results I can see little consistency. Staking varies from trade to trade. Losers often have small stakes. Of course, this looks good as the losers then appear less destructive than they otherwise should be if staking was consistent.
I too have noticed this. I'm pretty sure the results they post are hypothetical. If they were really trading the system they would have trader's statements to publish a la FAPT.
When they provide your evening trades do they indicate the stake they are using or do you only discover this after the trade has completed and you see the result on their website?
After the trade.
What overall result have you achieved in 2009 assuming some of you are actually using a fixed risk and not varying it from trade to trade?
Just curious.
A reasonable profit. Nothing to buy an Aston with :-D
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It seems to me you guys should demand of Concept that they either stick rigidly to a fixed percentage trade risk that they advise to their members, or simply publish their stake on each trade in their nightly update. Otherwise, their results are likely to be a nonsense and thus unrepresentative of the systems true performance.
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Looking again at the published results, the risk is the same per trade, the amount per point varies depending upon the stop. IE:
14-01-2009 09-01-2009 Buy EURGBP 0.884 0.9055 215 £21 £4,515 £28,840
06-02-2009 06-02-2009 Sell EURGBP 0.867 0.873 -60 £21 (£1,260) £29,905
Same risk as far as I can see.
Phil
Lol... You seem to read into the results on website a lot, but yet fail to see that the losses remain roughly the same. It simply differs over diefferent currency pairs. Look at the stop loss disntance compared to the stake and you will notice they always risk £1,250
EUR/GBP for example has a closer stop than the others therefore it has a larger stake. Simple maths if you ask me. Overall results in 2009 are extremely positive and have made up for all the losses (at least on my account).
"Looking at their listed results you see little consistency" What do you mean? I just visited the website and their results are exactly the same as mine. They do signal to move your stop loss on some nights therefore the losses are minimised. On EUR/CHF on 18 Feb there is a loss of £750 because they moved the stop loss. The next trade EUR/USD has a gain of £750 which hit the stop loss because they moved it beyond the entry. Surely this cannot be that hard to understand. Their wins are much larger than the losses because they gain more pips... basics of trading my friend.
stevespray
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I can confirm what pvisser is saying.
The different fx pairs have differing initial stop losses and therefore 5% is always risked per trade. Once a trade is triggered the stop loss if often tightened. The first tightening is generally a halving of the initial risk - if you look closely you'll see that pattern in the results - the initial risk being £1,250 gets tighted so the risk is around £650 - £700. As the trade moves further into profit the stop is moved beyond entry which effectively 'locks in' a gain.
There is no 'smoke or mirrors' involved in producing the results.
I'm personally showing a profit of just over £8,000 so far this year and it takes me around 2 minutes each evening to process the daily updates and place any orders. In that respect its doing exactly what it says on the tin.
Steve.
The different fx pairs have differing initial stop losses and therefore 5% is always risked per trade. Once a trade is triggered the stop loss if often tightened. The first tightening is generally a halving of the initial risk - if you look closely you'll see that pattern in the results - the initial risk being £1,250 gets tighted so the risk is around £650 - £700. As the trade moves further into profit the stop is moved beyond entry which effectively 'locks in' a gain.
There is no 'smoke or mirrors' involved in producing the results.
I'm personally showing a profit of just over £8,000 so far this year and it takes me around 2 minutes each evening to process the daily updates and place any orders. In that respect its doing exactly what it says on the tin.
Steve.
