Concept FX

hi guys still watching with intrest
andy concept have just mailed me claiming to have made close on 6 grand last week alone,
does this add up

hi Griff

6K last week is correct i made just over £600 and my stake was a 10th of theirs..
but remember they are on a 25k bank..my risk was £125 their risk is £1250

So yes they def made that..i cant post any trades yet as 2 are on the go and one is nearly finished..but i will once its closed
 
Thank you! I have an account with CMC and IG ndex... I think I almost ready to order the concept fx... Thank you for your help! Indeed!

Arek

Hi Arek,

Yes as Jason says the software comes on 1 CD. You also get a couple of booklets...one explaining how to use the system, and the other explains the FX markets in general.
It really is extremely simple to use, so you'll get the hang of it in no time.
If you don't already have a FX account with a broker, you'll also have to set one of these up, as you don't actually trade using Concept. It just provides trading signals. There are loads of brokers out there. I think Concept recommends CMC, I personally use GFT, but its probably worth you opening a demo account with a few brokers to see what platform you prefer.
 
Fantastic!! If you do decide to buy, make sure you get it for £4k rather than the advertised £5k :)
 
Nice. A trade has just closed that's been running for a few days. +250pips
Another opened this morning, but not really doing anything - jest hovering around opening price.
 
Nice. A trade has just closed that's been running for a few days. +250pips
Another opened this morning, but not really doing anything - jest hovering around opening price.

Lol Look up...i see you have the system now too..........switch it off and get some work done...although ive got it in the background too.lol
 
Lol Look up...i see you have the system now too..........switch it off and get some work done...although ive got it in the background too.lol

here is my trading to date using Concept..see if they match what your emails state
 

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Yep ties in with mine, although I missed the USD/CHF trade. This was totally my fault though. I couldn't be arsed to setup the trades over the weekend, as I planned to do them first thing on Monday. However the trade was triggered at 7:30 on the Monday morning so I missed my entry. DOH!!! Won't be doing that again.
 
Steve may i reply to yours too...As a business man i did not enter this 'game' or hobby as a business...I had 4k to spend and afford to loose! so i bought the system and started my bank with it. Im having fun and trying to learn a little bit about the trading game.....and i think ur remarks are off putting to newbies 12k!!..2k is the min id suggest...but its not a business for us........they are many welders with a welding plant in their shed making gates .. the enjoy it and make a few pounds but will NEVER ever run their own business and have no desire too..As a business man i looked at what i could afford to lose..and will never ever contemplate at taking this up as a business..its every man to his trade..this is not mine..thats why i bought concept!

Hi Andy,

I have to say that I disagree with you on these points. I have been trading over 10 years now (although that doesn’t automatically make everything I say right!) What I have learnt in that time is that markets are amazingly straight forward – it’s the people who trade them who are the complication. Before people take the plunge into this they could do some background reading into ‘The Turtle Traders’. The TT’s were a group of ‘would be’ traders who were assembled by a guy in Chicago. They were all given a totally mechanical set of rules to follow and a series of markets to apply the rules to. Ultimately the TT’s were very successful and many turned massive profits on their trading accounts. Some however didn’t produce successful results even though they were following exactly the same set of rules / markets. Bear in mind that they weren’t even risking their own money here! The reason for the differing results was due entirely to ‘discretionary trading’ – in other words some of them tried second guessing the system in order to get in and out at better prices by making trades before the system had actually signalled them. This is why so called ‘Black Box’ trading is not quite as easy as it sounds. The same will be true of this system. The market does funny things to people. So does winning and losing money. I take your point about your welder but it’s largely out of context. In this business (or ‘game’ as you call it) you will be growing capital with the intent of compounding it to make a gradually increasing series of longer term gains – generally no one starts off with a fixed bank. As the bank grows so does the risk (in terms of size of cash loss) on losing trades. This will have an effect on you. In my experience, when it’s your own money, everyone has a ‘pain threshold’ (for want of a better expression) which, when passed, makes you think more deeply about losses and wins. A series of losses which cause pain will make you question everything. There are other things which might cause you to question; a trade which goes well into profit and then gets stopped out at breakeven or a small loss for example can provoke a huge series of emotional swings. This will ALWAYS effect different people in a different way.

This thread itself is actually testament to the complexity of different people. Some here are happy to dive in. Others wait on the edge and observe others risking money. Then, when the system has a few wins, the observers write things which shows that they are ready to jump in (or indeed write things which suggest that they wish that they had jumped already!) Others will comment that it’s a scam when they have done little or no research. Others will have pre-programmed beliefs about what can and cannot be achieved in terms of rate of return or trade profit ratios. It’s all a huge mix. The human mind is a remarkable thing.

Experience has taught me that being more ‘business minded’ helps people emotionally stay in better control. It does this by making you think about things before they actually happen. This way the impact of certain occurrences is greatly reduced since it’s all part of the plan.
I’m not saying that you cannot succeed with your ‘hobby approach’ but I’m suggesting that there is potential for less success in people who follow that lead. I hope that you don’t take offence with these remarks – I’m just trying to share my experiences with the board.

Steve.
 
Hi steve..no offence taken at all.
Maybe im just reflecting my own personality..I like to take calculated risks in business which have paid off so far..i say its luck, others say the harder you work the luckier you get....
beleive me there is no one more keen to learn a few tricks of the trade and be able to read the price action and the 'rules of the game' than myself..but there is a wealth of infomation out there and its difficult for 'newbies' to ask the right q's or even know what questions to ask!..The beauty of this 'black box' system is that the results were posted and someone asked if it was a scam..i wanted to show that the results were correct or at least their entry and exits were correct..their bank differs due to the spread.

If any one is ready to take the step and by this software then they are not going to start it up as a business...if you are going to start it up as a business then you would def need to do your research and back testing...personally ive no patience for that and i would fail!!..i even medled with concpets exits coz i thot i knew better!! but didnt so after a month of trying it im sticking to there signals..

Steve i will def read TT after trader dantes journal and all the other bumf out there..but if you have a black and white system you would like to share please feel free..

personally im going to use this sytem as investing in something like an ISA...put my money on//have the excitement and the pain of watching the funds grow...and if they grow they way concepts have over 4 yrs would i go far wrong?
 
Interesting bit about the ISA Anddy...thats exactly what I am doing. Being able to look after your own fund, rather than someone else (who indeed charges management and performance fees etc), is much more interesting/fun (albeit much more risky!) than sticking in an ISA. As long as you stick to the one golden rule, don't invest what you can't afford to lose, then happy days. Sticking a little in every month rather than into an ISA seems very sensible indeed. Even ISA's are crap when things go bad, as we've certainly seen over the last few months.

On another note, if you do fancy another way of earning money via FX, with someone else doing all the work, FXCM do their own managed funds :eek:). Putting some money their way will spread the risk a little, meaning not all you eggs are in one basket. Obivously you wont earn mega returns, but certainly more than the usual investment vehicles.
Managed Forex Account - Performance

And no I don't work for them before you ask!! Just sharing some info that may be of interest.
 
Looks like the trade that opened this morning is another goodun. +80 pips showing on my screen at the moment.
 
Andy - Dont worry about an ISA, just use spreadbetting - far more efficient and easier. Totally tax free. Capital Spreads seem to be the tightest spreads generally.

Steve.
 
Andy - Dont worry about an ISA, just use spreadbetting - far more efficient and easier. Totally tax free. Capital Spreads seem to be the tightest spreads generally.

Steve.

Hi Steve..my analegy maybe wasnt explained to well..........what i meant was Ive bought this system to be partly 'in the game' not to be a full time trader..but try and learn at least one system!..whats the easist? whats the safest? whats the most profitable?..and if you can easily answer these then my number will follow.lol...i dont use ISA's and have little time for pensions..but i can see the fruits of this once you have some success and as a business man TAX FREE now thats got to be worth it

Steve as a full time trader u have my greatest respect and if your making a good living from it ur in that 5%..at the moment i feel like a tea sive instead of a sponge...read lots but most of its leaked out....Been reading a wee bit on trader dantes jouranl about price action...but lots of traders dissagree with that and use indicators..I have no time to read news so i cant react to news but i do have full time access to charts and inicators..but it is really like just looking into one those colour blind charts and not being able to see those numbers which are clear to everyone else.

Always willing to learn ..we just need the right teachers!
 
Hello Anddy,

Just a simple questions... the concept fx gives you tips (the black box) every evening after 8.30 pm or just on Sundays evening? To read their recommendations do we have to be in fron in our laptops or i can be anywhere....eg at Internet cafe...any place where I have access to the Interner? (For example to play with CMC Market I have to have a software from their platform, but play with IG Index I can place shares from any place...i only need the access to the Internet)

Thank you
Arek

Hi Steve..my analegy maybe wasnt explained to well..........what i meant was Ive bought this system to be partly 'in the game' not to be a full time trader..but try and learn at least one system!..whats the easist? whats the safest? whats the most profitable?..and if you can easily answer these then my number will follow.lol...i dont use ISA's and have little time for pensions..but i can see the fruits of this once you have some success and as a business man TAX FREE now thats got to be worth it

Steve as a full time trader u have my greatest respect and if your making a good living from it ur in that 5%..at the moment i feel like a tea sive instead of a sponge...read lots but most of its leaked out....Been reading a wee bit on trader dantes jouranl about price action...but lots of traders dissagree with that and use indicators..I have no time to read news so i cant react to news but i do have full time access to charts and inicators..but it is really like just looking into one those colour blind charts and not being able to see those numbers which are clear to everyone else.

Always willing to learn ..we just need the right teachers!
 
Hello LookUpLeg,

Just a simple questions... the concept fx gives you tips (the black box) every evening after 8.30 pm or just on Sundays evening? To read their recommendations do we have to be in fron in our laptops or i can be anywhere....eg at Internet cafe...any place where I have access to the Interner? (For example to play with CMC Market I have to have a software from their platform, but play with IG Index I can place shares from any place...i only need the access to the Internet)

Thank you
Arek

Interesting bit about the ISA Anddy...thats exactly what I am doing. Being able to look after your own fund, rather than someone else (who indeed charges management and performance fees etc), is much more interesting/fun (albeit much more risky!) than sticking in an ISA. As long as you stick to the one golden rule, don't invest what you can't afford to lose, then happy days. Sticking a little in every month rather than into an ISA seems very sensible indeed. Even ISA's are crap when things go bad, as we've certainly seen over the last few months.

On another note, if you do fancy another way of earning money via FX, with someone else doing all the work, FXCM do their own managed funds :eek:). Putting some money their way will spread the risk a little, meaning not all you eggs are in one basket. Obivously you wont earn mega returns, but certainly more than the usual investment vehicles.
Managed Forex Account - Performance

And no I don't work for them before you ask!! Just sharing some info that may be of interest.
 
Hello Jason

COuld you tell more whats happened to TradeWin...? When something happened?
Whats happened to their customers...? I am new on this scene

Regards,
Arek

From the questions I asked of them, they would not give any refunds based on the number of triggers. It is all automated by their servers, so if they could not find any trends, then there would be nothing. Looking at the history of their triggers, and the liquidity of the forex market, I did not see that as a risk. My main concern was if the company suddenly crashed. They have been trading in this industry for a while with Tradewin, and now concept FX.

Their business model should allow for sustained growth based on new members purchsing the software, and the ongoing subscription. If their claims are that they now have 300+ members, each paying £500 a year for the triggers.

They do offset everything with risks, and that you enter into the agreement only if you are able to lose your initial stake. I have read this to be the software purchase price, and initial bank. It could be a costly experiment, but even if it lasts for 6 months on current success rate, that should be enough to get the initial purchase price back.
 
Hello LookUpLeg,

Just a simple questions... the concept fx gives you tips (the black box) every evening after 8.30 pm or just on Sundays evening? To read their recommendations do we have to be in fron in our laptops or i can be anywhere....eg at Internet cafe...any place where I have access to the Interner? (For example to play with CMC Market I have to have a software from their platform, but play with IG Index I can place shares from any place...i only need the access to the Internet)

Thank you
Arek

Hi Arek
if i can reply here...you get the updates every night except sat and sun nights at 8.30 on the dot!...its up to you whethere u are at ur pc at that time or not...what people need to realise is this is not a BUY..OR SELL SELL shout like u see traders on walls treet..the alerts come thru and it can take up to 3or 4 days before they trigger...BUT human nature means we will be here at 8.30..all u need is access to ur software..so if ur away from home u may need to install www.gotomypc.com to log in to ur software at the pc with ur software on it...then u log onto ur spread betting platform and put ur trade on and then get on with ur life till 8.30 the next night..
 
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