Concept FX

[effem]

For me its the name or title : C O N cept........

HAHAHAHAHAHAHAH !!! Nice one PureGold..

 

[anddy26]

For me its the name or title : C O N cept........

ohhhh gold ye of little faith.....when u say its a con..can u clarify why?..im assuming you know all about the system and the results?.....because ive been conned from the 2nd of june and so far its been not a bad con.....to date 2 wins 2 losses..1 now live and already up 64 pips...(which can change overnight!)..another 2 trades pending....

obvioulsy im not a trader or i would not have bought (or conned) a system but im buggered if i can put any fibs, r/s's pivots, confluences or divergences, bears bulls....ohhh the jargon.and i havnt even covered heads shoulders or wedges yet!!

i did say i would put down the stops they advise in their leaflet as to what your pip stop loss is

they deal in 6 trades..
GBPUSD 150
EURCHF 85
EURJPY 100
EURUSD 75
USDCHF 120
EURGBP 40

if your bank is 2k you risk 5% of ur bank which means eurgbp risk would be £2.50/pip
how ever my CS account only lets me trade in round numbers so i usually go over my 5% risk just now!!..so any other accounts where they accept trades like £1.50 please let me know

one question id like you to ask Effem is 'why these pairs only'?...are they opposing or complimentary correlations?.....

dare say they might say the 'computer' has picked the 6 saftest pairs to trade on their system??

btw im thick skinned so no offence will be taken to ur replies of the non followers..lol..

 

[GMP]

they deal in 6 trades..
GBPUSD 150
EURCHF 85
EURJPY 100
EURUSD 75
USDCHF 120
EURGBP 40

one question id like you to ask Effem is 'why these pairs only'?...are they opposing or complimentary correlations?.....

dare say they might say the 'computer' has picked the 6 saftest pairs to trade on their system??

:smart:Sticking my oar in...
I think you more or less answered your own question there - I think these are the most-traded fx pairs, and hence the least prone to violent unpredictable swings (through market manipulation by the big players and the like).
As to setting your own stakes, I think Oanda let you do that but they're not a spreadbetting company as such. You could try Cityindex's SB platform - I know their minimum is £1 but I can't remember if they let you bet fractions offhand.

 

[Trader333]

I think these are the most-traded fx pairs, and hence the least prone to violent unpredictable swings (through market manipulation by the big players and the like)

In my view you are much more likely to get manipulation in low volume traded instruments than those with high volume because moving a market is easier when it can be done with less size. To do it in markets with large volume requires huge resource to do so.


Paul

 

[effem]

In my view you are much more likely to get manipulation in low volume traded instruments than those with high volume because moving a market is easier when it can be done with less size. To do it in markets with large volume requires huge resource to do so.
Paul

But Paul we are asked mainly to do spread betting on those pip movements... do they also count towards volume changes?

I think the fact that they take high volume pairs is that the slippages etc are greatly reduced (slippages are low anyway in FOREX pairs but still... )

Please correct me if im wrong.

 

[GMP]

In my view you are much more likely to get manipulation in low volume traded instruments than those with high volume because moving a market is easier when it can be done with less size. To do it in markets with large volume requires huge resource to do so.


Paul

That's what I was saying - does it read wrong or something?:|

 

[effem]

So far, Ive managed to recollect the following questions for C-FX for tomorrow's IX Expo...

1. is it fully automated or there are some experienced FOREX traders sitting there at 8'o clock calling the shots.

2. Can they possibly provide us with broker attested statements showing trades?? Or rather can they prove that these were the actual trades

3. Is there a money-back guarantee, and if not, why not, seeing as all they seem to be divulging is signals rather than the thinking or technique behind them?


4. why do they not have a trial period like other systems out there?


5. In April/May 2007 they had 7 trades in a row which loss. Do they have anything in place to avoid such continuous losses? ie. Human intervention?


6. is the system continuously developing (learning) and therefore improving with better results?

7. Why only these selected pairs. Are they opposing / complimentary correlations... Are they Computer picked ?

Temme what youa'll think !

 

[anddy26]

one question which i would now probably ask is...can you call them when the markets turns and ask their advice..or would their be sms facilities if they know the markets will turn avoiding hitting their stop losses..

 

[anddy26]

my previous questions appears more Pertinent now..4 days back an alert triggered for EURCHF enter
1.6190 stop 1.6265 75 pip stop loss..so my £2 was put on..yesterday alone i took profit all the way down and was up almost £200 for the day..when the trades came thru last night the stop had been moved to 1.6210..making the worst u lost was 20 pips.....at 8ish this morning the CHF shot up and i decided to go back in when the trade look like it was consolidating....i was wrong!! and gave back my £200 plus the extra £40 of stop loss.....some may say i should have chosen to stay out..i agree but this is maybe where human intervention would play a part? and a wee text saying take profit now....i theory im no worse off than the sytem..still 269 pips up in 5 trades..

easy come easy go

 

[GMP]

my previous questions appears more Pertinent now..4 days back an alert triggered for EURCHF enter
1.6190 stop 1.6265 75 pip stop loss..so my £2 was put on..yesterday alone i took profit all the way down and was up almost £200 for the day..when the trades came thru last night the stop had been moved to 1.6210..making the worst u lost was 20 pips.....at 8ish this morning the CHF shot up and i decided to go back in when the trade look like it was consolidating....i was wrong!! and gave back my £200 plus the extra £40 of stop loss.....some may say i should have chosen to stay out..i agree but this is maybe where human intervention would play a part? and a wee text saying take profit now....i theory im no worse off than the sytem..still 269 pips up in 5 trades..

easy come easy go

Shouldn't you in theory just be waiting for it to either hit your profit target or hit your stop loss? I mean, if that's what their trade history is based upon (and assuming for argument they're a genuine bunch) you should be sticking to it. That way you don't have to bother watching the trades at all - enter your stop, enter your limit, adjust your stop if instructed and just wait for the email confirming you've won or lost.
I thought that was what they're charging for? Plumb in your own intervention and all you're really getting for your money is entry signals. Most professional traders will tell you that your exits are equally as important as your entries, if not more so.

 

[anddy26]

Shouldn't you in theory just be waiting for it to either hit your profit target or hit your stop loss? I mean, if that's what their trade history is based upon (and assuming for argument they're a genuine bunch) you should be sticking to it. That way you don't have to bother watching the trades at all - enter your stop, enter your limit, adjust your stop if instructed and just wait for the email confirming you've won or lost.
I thought that was what they're charging for? Plumb in your own intervention and all you're really getting for your money is entry signals. Most professional traders will tell you that your exits are equally as important as your entries, if not more so.

your abosultely right.....how ever their enrty wasnt great mine was!!..lol..till i went back in ..im sure it says on their leaflet if the trades stops out dont be tempted to go back in....so nothing really lost..i calculated it to be the same as the system and no more of a loss than the system..

 

[Stuart14]

You should take that trade out of your results data though when looking back through to see how they did. Their/your results can only be the same if you do exactly what they do.

I have a friend following a subscription system too at the moment. His biggest losses have come in when he's decided they're wrong and he knows better. Dangerous game to play.

 

[anddy26]

You should take that trade out of your results data though when looking back through to see how they did. Their/your results can only be the same if you do exactly what they do.

I have a friend following a subscription system too at the moment. His biggest losses have come in when he's decided they're wrong and he knows better. Dangerous game to play.

Hi staurt

my final entry and exit are the exact same as theirs..i just played in and out of the trade while it was live..so it is the same results even if i had more stress over it!!.lol

 

[Stuart14]

LOL! Fair enough mate!!

I'm trying to follow my own system at the moment and definitely sticking to it. Got stopped out 3 times yesterday, got 6 trades currently running. Will plan the trade and trade the plan. If I can make a system on daily signals work profitably I could just set it up first thing and get on with something more interesting with the rest of the day!!

 

[anddy26]

LOL! Fair enough mate!!

I'm trying to follow my own system at the moment and definitely sticking to it. Got stopped out 3 times yesterday, got 6 trades currently running. Will plan the trade and trade the plan. If I can make a system on daily signals work profitably I could just set it up first thing and get on with something more interesting with the rest of the day!!

hi mate i can see myself in u and prob others can too (as newbies)...lol..however we have to get over that hooked stage!!..this sytem im using should be that system....ive had trades on for 4 and 5 days..that one yesterday was a 5 day one but had been pending for 2 days...i think once discipline is intalled we would be better traders..even if it is an alert system.

 

[masif1]

my previous questions appears more Pertinent now..4 days back an alert triggered for EURCHF enter
1.6190 stop 1.6265 75 pip stop loss..so my £2 was put on..yesterday alone i took profit all the way down and was up almost £200 for the day..when the trades came thru last night the stop had been moved to 1.6210..making the worst u lost was 20 pips.....at 8ish this morning the CHF shot up and i decided to go back in when the trade look like it was consolidating....i was wrong!! and gave back my £200 plus the extra £40 of stop loss.....some may say i should have chosen to stay out..i agree but this is maybe where human intervention would play a part? and a wee text saying take profit now....i theory im no worse off than the sytem..still 269 pips up in 5 trades..

easy come easy go

Anddy, I take it concept alert you to trail the stop loss, but as this is done i'm assuming at the end of the day, if you moved it during the day, would you not have minimised your loss with the above trade?

 

[anddy26]

Hi Masif

no, no mention of trailing stops..as u get the alerts at 8.30 at night..but its one of the things concept could maybe offer as an sms service..how ever their system seems to work on fairly sound TA until daily news kicks in..IMO

Dunno if Paul id still watching the thread...but out of curiousity..does spread betting affect the merkets?..and do the city traders use spread betting and what sort of stakes do the use..ie £50 a pip?

 

[effem]

Answers from Concept FX

So far, Ive managed to recollect the following questions for C-FX for tomorrow's IX Expo...

1. is it fully automated or there are some experienced FOREX traders sitting there at 8'o clock calling the shots.

Ans: Its a fully automated system... 8:30pm is the time to run it because apparently thats when most of the markets are closed or nearing closure... (apparently)

2. Can they possibly provide us with broker attested statements showing trades?? Or rather can they prove that these were the actual trades.

Ans: Nope. Says there's no one TRADING an account like that... its a demo account... their members do practise it... but would not want to disclose their own statements... seemed a bit shady...

3. Is there a money-back guarantee, and if not, why not, seeing as all they seem to be divulging is signals rather than the thinking or technique behind them?

Ans: No money back guarantee... very "Marketing" kind of answer... "We're only targeting people who are seriously wanting to use this ... and are willing to overcome this initial hurdle of the cost price etc...."


4. why do they not have a trial period like other systems out there?

Ans: No trial period... although he was ready to offer a 1000 quid discount !! Just like many of us received in the postal brochure.

5. In April/May 2007 they had 7 trades in a row which loss. Do they have anything in place to avoid such continuous losses? ie. Human intervention?

Ans: There have been losses before... and will be in the future... but no human intervention...

6. is the system continuously developing (learning) and therefore improving with better results?

Ans: Yes. Development team are working on it and continuously improve it... we get updates... thats the reason for the 500 quid a year subscription charge.



7. Why only these selected pairs. Are they opposing / complimentary correlations... Are they Computer picked ?

Ans: Most traded pairs... hence least amount of slippages / mad changes.

8. Can you call them when the markets turns and ask their advice..or would their be sms facilities if they know the markets will turn avoiding hitting their stop losses..

Ans: Nope... fully automated system... so whatever you get is at 8:30.


I told him Im asking all this on behalf of a few friends so he said call them if u have any more questions...

Or post it over here...

Hope this helped ~!!

 

[GMP]

So far, Ive managed to recollect the following questions for C-FX for tomorrow's IX Expo...

1. is it fully automated or there are some experienced FOREX traders sitting there at 8'o clock calling the shots.

Ans: Its a fully automated system... 8:30pm is the time to run it because apparently thats when most of the markets are closed or nearing closure... (apparently)

2. Can they possibly provide us with broker attested statements showing trades?? Or rather can they prove that these were the actual trades.

Ans: Nope. Says there's no one TRADING an account like that... its a demo account... their members do practise it... but would not want to disclose their own statements... seemed a bit shady...

3. Is there a money-back guarantee, and if not, why not, seeing as all they seem to be divulging is signals rather than the thinking or technique behind them?

Ans: No money back guarantee... very "Marketing" kind of answer... "We're only targeting people who are seriously wanting to use this ... and are willing to overcome this initial hurdle of the cost price etc...."


4. why do they not have a trial period like other systems out there?

Ans: No trial period... although he was ready to offer a 1000 quid discount !! Just like many of us received in the postal brochure.

5. In April/May 2007 they had 7 trades in a row which loss. Do they have anything in place to avoid such continuous losses? ie. Human intervention?

Ans: There have been losses before... and will be in the future... but no human intervention...

6. is the system continuously developing (learning) and therefore improving with better results?

Ans: Yes. Development team are working on it and continuously improve it... we get updates... thats the reason for the 500 quid a year subscription charge.



7. Why only these selected pairs. Are they opposing / complimentary correlations... Are they Computer picked ?

Ans: Most traded pairs... hence least amount of slippages / mad changes.

8. Can you call them when the markets turns and ask their advice..or would their be sms facilities if they know the markets will turn avoiding hitting their stop losses..

Ans: Nope... fully automated system... so whatever you get is at 8:30.


I told him Im asking all this on behalf of a few friends so he said call them if u have any more questions...

Or post it over here...

Hope this helped ~!!

Thanks Effem, interesting! What's your overall impression of them as people? These answers don't seem all that encouraging - here's the product, pay the price, don't expect us to be amenable to suggestions.
Frankly, if I was selling the signals of a system I had full confidence in, I'd be happy to refund unhappy customers the buying price & stop sending them the signals - it would encourage more take-up and wouldn't actually cost you anything.
I'll still follow this thread with interest though. In a year's time we'll have a better idea of what they're selling, thanks to Andy.👍

 

[effem]

Thanks Effem, interesting! What's your overall impression of them as people? These answers don't seem all that encouraging - here's the product, pay the price, don't expect us to be amenable to suggestions.
Frankly, if I was selling the signals of a system I had full confidence in, I'd be happy to refund unhappy customers the buying price & stop sending them the signals - it would encourage more take-up and wouldn't actually cost you anything.
I'll still follow this thread with interest though. In a year's time we'll have a better idea of what they're selling, thanks to Andy.👍

Well GMP,
As far as im concerned, my deal is that I WANT TO MAKE MONEY ... just like you and many others on T2W.
I dunno anything about FX ... never traded it... only do DJ and FTSE and gold and oil ... not even company stocks...
So I know a bit about sprd betting... simple charting techniques... etc... so I perfectly got what that guy was trying to put across... its a (relatively) small group of people trying to market something thats proved itself... in the very recent past.
He explained me some of the reasoning behind the software updates and some of it seemed some very basic support resistance, fibs, even trendlines and that sort... obviously he didnt disclose the deeper ones... for back-checking and probability assessment.
I, personally was sold about everything except the price... coz for someone in my situation 5k (even 4k) is quite a heavy task ...