Concept FX

[effem]

I think the best way to go with this software would be to purchase one among 10 friends (£500 each) ... and then all of them sit down at the same time and one person (maybe the one with the most reliable computer) tells everyone what bet to place...

I have seen their platform and it gives you all details of placeing the bet such as entry price, direction (buy/sell), stop loss and profit target. It also tells u how much to bet per point if you tell the software your starting capital !!! So, I figure, it manages your risk reward ratios as well... all sounds brilliant ...

Not seen/met/heard of anyone using it though...

They sent me a brochure ... and offered an introductory discount of £1000 !!! That was something...

 

[dutchy124]

Concept-FX Traders

Hi all,

has anyone heard of a company called Concept-FX Traders.

If so, please let me and others have your inside knowledge.

Thanks.

 

[gamma]

I think the best way to go with this software would be to purchase one among 10 friends (£500 each) ... and then all of them sit down at the same time and one person (maybe the one with the most reliable computer) tells everyone what bet to place...

I have seen their platform and it gives you all details of placeing the bet such as entry price, direction (buy/sell), stop loss and profit target. It also tells u how much to bet per point if you tell the software your starting capital !!! So, I figure, it manages your risk reward ratios as well... all sounds brilliant ...

Not seen/met/heard of anyone using it though...

They sent me a brochure ... and offered an introductory discount of £1000 !!! That was something...

]I think the best way to go with this software would be to purchase one among 10 friends (£500 each) ... and then all of them sit down at the same time and one person.....

We do not need to purchase a system between 10 of us
WE KNOW ITS CRAP

Jesus !! !
Mother mary help us !
Oh! Dear God why do you torture the good people of T2W ?
Can't there be some law that says Newbies should pass some sort of exam about scams before they are allowed to trade!
Or even come around talking rubbish

 

[masif1]

Hi all,

I too have received a brochure with an introductory offer of £1000 discount if i join by the 31st May. The brochure looks very impressive and so does the website. They also offer a demonstration of the system.

I have noticed a few things with regards to their results, the most recent being profit of over £9000, however that was over a period of 1.5 months. Also they only seem to trade 1 trade a week on average.

According to my calculations using their results from the website, the successful trades "UK FX Trader" is having of 50% is about the right figure:

2006 - 50% of the trades were profit.
2007 - 52% of trades were profit.
2008 - so far 55% of the trades are profit.

So realistically, would a trader effectively trade the FX without using this software achieve the same results?
It looks to me all the software is really calculating is the entry, exit and stop loss?

I'd be interested to know how "UK FX Trader" gets on in the next few months?

Yes, I'm using it a the moment. I was initially extremely sceptical, as I am of any supposedly automated system, but so far my trades have duplicated the performance of the historical trades on their website fairly accurately. You get periods of losing 3-4 trades consecutively, and only about 50% are successful overall, but so far at any rate (I have been using it for about 2 months) the net results are positive.

The downside is that the program is expensive and you have to pay a yearly subscription thereafter. I will run it for a year to see if it does what they claim it will do, and then decide whether or not to continue. If you like experimenting and have some money to spare (or maybe lose) then it may be worth giving it a try.

It's a 'black box' system so one knows nothing about how it works or to what extent the trades are deicded mechanically or by members of the company who market it.

UK FX trader

 

[marcopolomalta]

Yes, I'm using it a the moment. I was initially extremely sceptical, as I am of any supposedly automated system, but so far my trades have duplicated the performance of the historical trades on their website fairly accurately. You get periods of losing 3-4 trades consecutively, and only about 50% are successful overall, but so far at any rate (I have been using it for about 2 months) the net results are positive.

The downside is that the program is expensive and you have to pay a yearly subscription thereafter. I will run it for a year to see if it does what they claim it will do, and then decide whether or not to continue. If you like experimenting and have some money to spare (or maybe lose) then it may be worth giving it a try.

It's a 'black box' system so one knows nothing about how it works or to what extent the trades are deicded mechanically or by members of the company who market it.

UK FX trader

im sure i woulndt be alone in appreciating if you were to keep us updated.

 

[gamma]

Hi all,

I too have received a brochure with an introductory offer of £1000 discount if i join by the 31st May. The brochure looks very impressive and so does the website. They also offer a demonstration of the system.

I have noticed a few things with regards to their results, the most recent being profit of over £9000, however that was over a period of 1.5 months. Also they only seem to trade 1 trade a week on average.

According to my calculations using their results from the website, the successful trades "UK FX Trader" is having of 50% is about the right figure:

2006 - 50% of the trades were profit.
2007 - 52% of trades were profit.
2008 - so far 55% of the trades are profit.

So realistically, would a trader effectively trade the FX without using this software achieve the same results?
It looks to me all the software is really calculating is the entry, exit and stop loss?

I'd be interested to know how "UK FX Trader" gets on in the next few months?

All you newbies post as if there is a general consensus that there is an approval of this software or whatever crap it is
get it into your heads that the only thing we agree on is It is a load of crap

 

[trendie]

to all the newbies considering Concept-FX:

Ask them to show you account statements showing the real-time dates and times the trades were taken.
This is to establish that the results shown were actually taken as shown. If they cant, how can you be certain the results arent curve-fitted after the event?

Use google and do a "whois" for the website. This tells you when the site was registered. If the registry date is recent, say Feb-2008, for example ( ), where did there customers get the software before that time?
How long have they been offering this for?

Please note the cost isnt £5000 or so.
Factor in the amount of money you are going to need to trade as margin.
Also the amount you need to lose before you throw in the towel.
This may easily be another few thousands.
(always consider your downside, ie, your "stop-loss", the point at which you walk away.
In your first "trade", your "spread" is £5,000. )

Also, get some charts and see where the trades are being entered and deduce the mechanism.
You may only need a daily chart for this.

Alternatively, spend a couple of hundred on some decent books, cheap courses, and read some good threads here. Good, robust, free systems abound.

as always, you're all adults, its your money, and you have to accept responsibility for your own actions. (ie, dont whine like girls when you get stung)

good luck.

 

[Crap Buddist]

1

2

 

[griffb23]

thancks effem
concept have mailed again claiming to have made 12,000 in may alone brill??
their results date back to 2004 on their website so can,t understand what uk-fx is saying adout no one really knows,
why hasn,t everyone got one???????

 

[masif1]

Thanks "trendie" useful information, unlike "Gamma" who just puts any Newbie's comments down and say's everything is "CRAP".

Gamma do you actually trade or do you just comment in all the forums and put all the newbies down? Maybe that's how you got your "Senior member" status?

Is there any system that you do like or use?

 

[anddy26]

Ok here goes.im ready to be shot down..I am a tradewin member..and have no idea how to trade nor have the time to learn but i do have a couple of £k' to spend..for a newbie it was the excitment of the ups and downs of the trade...for the first 6 months tradewin was a winner but after the northern rock fiasco it all went to pot..so much that tradewin have stop putting out alerts until the volatility stops..but as a member they have offered me this Concept fx package and i have signed up for it..i will give you my thoughts as honest as possible...i am not appealing to traders because you guys do this for a living and i wouldnt start to argue with your methods or systems ,but for the less experienced of us its a start..and if any of the less experienced want to chat with me directly please [email protected] i hear the more synical ones saying a fool and his money..

 

[effem]

Oh Gamma, you make me laugh !!!

All you newbies post as if there is a general consensus that there is an approval of this software or whatever crap it is
get it into your heads that the only thing we agree on is It is a load of crap

D@mn !!! You're sooo arrogant !! ..."all you newbies" thats just an award winning patronising phrase ! Agreed, we're newbies... but then if you were a multi-trillionnaire knowing better than anyone else on this forum, why the "F" would you be loitering around over here ???

Why dont you stick to your own ideas and only offer "CONSTRUCTIVE CRITICISM" and not factless, baseless, rubbish statements such as "This is rubbish", or "Its all cr@p" ... thats not helpful at all... even if the system IS as bad as you say it is, I would like to know from a senior member WHY its crap... and according to me, if the "senior" member cannot offer me an arguement / logic / reasoning regarding why its crap then he / she should keep his comments to himself !!!

 

[gamma]

Gamma do you actually trade or do you just comment in all the forums and put all the newbies down? Maybe that's how you got your "Senior member" status?

My dear friend I am a position swing trader, which means I have a lot of waiting around time, I while away that time reading and posting.
Once you have developed a system that is profitable and works for you I do not advice reading other technical posts as this only confuses and casts doubts about your own analysis.
Having spent long hours over a long period of time trawling through the Knowledge Lab,Captain Currency"s post's and Trader Dante's threads to mention but a few a long time ago I developed my own trading system.

Is there any system that you do like or use?

Yes as mentioned above I do my own.
However you do have another very valid point that I myself have bought up before.
This whole issue of Senior Member Status.
The status is awarded by number of posts rather than quality of Posts I stopped paying attention to that status tag a long time ago and would advice you to do the same Until such time as T2W changes how it awards distinctions.
Finally I apologize if you find my remarks a bit coarse But I have seen so many people scammed by buying systems rather than developing their own.I have lost all sympathy for scams and all patience for people falling for them.

Whatever you decide to do I wish you luck and hope to see you here long into the future

 

[gamma]

D@mn !!! You're sooo arrogant !! .

..thats nothing!!!!

I am so arrogant that I will say this
"One year from now I will still be posting and laughing at the scams and trying to warn new traders in my own way to stay away from them.
You my friend will not be here if you try to learn trading by buying some crap system>

 

[anddy26]

Gamma may i ask if u ever felt close to buying one of these software systems?..Iv dabbled for yrs buying shares as a longer term investment in a smaller scale with little return, but never had the time to learn or the commitment..to me these sytems are a hobby..and im not planing to retire next yr on the possible winnings..and again i say..wont criticise ur opinions or systems if it works for you great.

 

[gamma]

Anddy26,
I know I am very negative about these software systems actually hostile.
and the reason being I have come across so many people who have lost out because of them.
Only last week I was talking to someone who lost 10k to the gold system which is touted a lot on forums.
I understand if you do not have the time to learn or you might be looking for system whereby you do not want to watch the markets constantly may I suggest position or swing trading.
I wish you luck in your search.

 

[anddy26]

Gamma thanks for your response..I know people who have not bought these systems will be hostile towards them and the guy that lost 10k...did he stick to it religioulsy..because i lost money on spread betting by getting carried away and gambled...but the software i have used does work..apart from the last 6 months!!..i know there will be losers but equally there must be winners or the systems would get soo much bad press from forums like this..again i am happy to go with the flow on the 2 i am using and will hoestly report back...if its crap its crap but i will be a better judge by using it and saying its crap..but hopefully it wont be and for the person that said the success rate was 50% this is possibly right but the ones that did win were far higher than the losses.

 

[gamma]

Gamma thanks for your response..I know people who have not bought these systems will be hostile towards them and the guy that lost 10k...did he stick to it religioulsy..because i lost money on spread betting by getting carried away and gambled...but the software i have used does work..apart from the last 6 months!!..i know there will be losers but equally there must be winners or the systems would get soo much bad press from forums like this..again i am happy to go with the flow on the 2 i am using and will hoestly report back...if its crap its crap but i will be a better judge by using it and saying its crap..but hopefully it wont be and for the person that said the success rate was 50% this is possibly right but the ones that did win were far higher than the losses.

I heed every thing you say
However surely if it is a mechanical automated system then everyone's results must be the same.I take it the people who have complained about it would have used it just a religiously as the ones who claim success.

but the software i have used does work..apart from the last 6 months!!..

You say the above.....
A lot of members here will say there is an inherent weakness in a all mechanical systems whereby they are designed with past data, which came about due to certain outside influences. For mechanical systems to function every thing has to be ceteris paribus.
We know this is not the case and that is the main reason a mechanical system will fail over time, unless discretion is used to override potential pit falls in which case you might as well not use them, as they let you down at the worst possible time, when you need them the most.

 

[anddy26]

i agree with you about past data..but the last 7 yrs were moderately calm compared to the last 6 months..so the system has been more or less suspended until such times it settles down...the FX software shoul;d be the same for all members as they all get the feeds at 8.30 at night so its an end of day system but the tradewin sytem gave u alerts all times of the day..and if u were not at a pc or at the end of a text or even if u decided to miss a few days or weeks off then your own results are different from the websites results. But again the FX software will only work for everyone (or fail) if every one puts the same 'bets' on when the alerts come through.

 

[gamma]

but the tradewin sytem gave u alerts all times of the day..

Is this a signal alert system?
where you get a email or sms from the vendor