Concept FX

masif1 said:
also where's your post
***************
That was another very bad call on sterling. Didn't even have the chance to watch it, manage it or even have a first cuppa! Concept just doesn't get it. The pound is going DOWN, NOT UP. No good anyone saying it's just bad luck. Sniper gets it, Bogie gets it, and everyone else gets it. Even Darling gets it. How can you develop confidence in a system that misses the big moves? It's such moves that should make up for all the losses, not compound them.
***************

I agree with you, have you contacted Concept about this? Tell them to FIX UP!
:p
Click to expand...

I lost out, as I'm sure we all did, on last nights 2 trades, both went straight to stop without my even seeing that they'd opened :eek:

I'm down 17% on my bank after my first trades with Concept. Missed a small profit on one trade as my account wasn't set up properly. Losses are one thing but when it seems that the market does the exact opposite of the setup I feel a bit shaken.
:cry:

Phil
 
bigphil22 said:
I lost out, as I'm sure we all did, on last nights 2 trades, both went straight to stop without my even seeing that they'd opened :eek:

I'm down 17% on my bank after my first trades with Concept. Missed a small profit on one trade as my account wasn't set up properly. Losses are one thing but when it seems that the market does the exact opposite of the setup I feel a bit shaken.
:cry:

Phil
Click to expand...

dont want to gloat but anyone on capital spreads is still alive!!..on the eur trade...swings and roundabouts eh
 
yes..my capital only went to 25. not 30 ..it missed my spread by 1 pip..this will cause concept some probs again...they will be hoping it gets stopped out before posting tonight.
 
Hi Andy
why do you say this will cause Concept some problems...surely the trade is over as it actually peaked at 0.8137...so according to the reading of the data feed...this trade is probably stopped out...we're in it if with Capital Spreads at a much higher sell because they don't open untill midnight sunday...fortunate for us in this case...so can either increase stop to account for usual 5% risk or leave stop so less risk on table (but bigger probability of getting stopped as it's tested 0.8120's a number of times today...I'm hoping there's a big swing back due...although pound is so weak right now and eur is holding against $ so that's not helping...just hope we don't get stopped..I've actually moved my stop above recent daily high and within the 40 pip on this pair...so we shall see...
 
sean uk said:
Hi Andy
why do you say this will cause Concept some problems...surely the trade is over as it actually peaked at 0.8137...so according to the reading of the data feed...this trade is probably stopped out...we're in it if with Capital Spreads at a much higher sell because they don't open untill midnight sunday...fortunate for us in this case...so can either increase stop to account for usual 5% risk or leave stop so less risk on table (but bigger probability of getting stopped as it's tested 0.8120's a number of times today...I'm hoping there's a big swing back due...although pound is so weak right now and eur is holding against $ so that's not helping...just hope we don't get stopped..I've actually moved my stop above recent daily high and within the 40 pip on this pair...so we shall see...
Click to expand...

The reason is that Capital Spreads dont open their FX markets until midnight on Sunday evening. This means that their spread at the moment the market opened was 0.8115 bid and therefore the "Limit Sell" was filled at 0.8115 at around midnight and this was after the high at 0.8137 was posted by firms who opened before midnight. In the meantime we have not been above 0.8130 and hence the trade is still open. I personally closed mine for a few pips loss and consider that I have saved myself my £750 risk.

Other people who were filled by firms which opened earlier should double check their fill level since the market clearly gapped well above the limit order which concept specified. I have known under-hand practice by certain firms in that situation who simply fill at the limit order level rather that the level which the market opened at when it gapped.

Steve.
 
This trade is against the trend ...like may of Concept's right now...but I'm holding and will move to break even sooner rather than later...as I've put th estop just above recent daily high...the risk is currently half size...will look for swingg back. There's a Banker trader I know who is holding sells from 0.7890 with a 400 pip target longterm...he's still holding for this although down at mo...so I will gauge this trade against that if I can get to breakeven stop...then free ride and see what the market gives...simple plan...just need to get to breakeven first...also using the strategy that when the market gaps...the price is nearly always revisited.
 
sean uk said:
This trade is against the trend ...like may of Concept's right now...but I'm holding and will move to break even sooner rather than later...as I've put th estop just above recent daily high...the risk is currently half size...will look for swingg back. There's a Banker trader I know who is holding sells from 0.7890 with a 400 pip target longterm...he's still holding for this although down at mo...so I will gauge this trade against that if I can get to breakeven stop...then free ride and see what the market gives...simple plan...just need to get to breakeven first...also using the strategy that when the market gaps...the price is nearly always revisited.
Click to expand...

interesting info..sniper agrees with concept!!! need i say more on this trade
 
yeah just saw that too... re sniper and eur/gbp...still one bar to turn red...but in agreement with Concept current trade at this stage...we just need gbp to start to retrace move gainst $ and eur to continue down...
 
sean uk said:
yeah just saw that too... re sniper and eur/gbp...still one bar to turn red...but in agreement with Concept current trade at this stage...we just need gbp to start to retrace move gainst $ and eur to continue down...
Click to expand...

Hi sean yes ur right..still all the bars to turn red..its like any system..it said go short on my alert but it wasnt confirmed by all the required parts
 
I've been trading with conecpt now for the last 2 weeks and as we know It hasn't gone great. You guys keep talking about using your own judgement to minimise losses, which I would love to do but I don't know much about Forex. Can anyone point me towards a good seminar, or book so that I can just learn to basics?

Thank you
 
pvisser..send me your email pls and i will send u trader dantes own price action methology...by far the best laymans terms about
 
sean uk said:
Hi Phil

why are you down 17% after two trades...shouldn't it be 10%?
Click to expand...

I've been with Concept for 2 weeks, I missed one winning trade as my account at the SB co was set up incorrectly, but all the others have gone -ve. I'll PM you with my trade details.

Phil
 
To all Concept users...if you're still in the eur/gbp trade as I am...this will sort the men out from the boys as Concept has it as a loss as I suspected...I still havent moved my stop as I'm treating it as a trade so have a stop just above daily high...actually works out as half trade in relation to risk as was entered at 0.8115 with Capital Spreads...
 
sean uk said:
To all Concept users...if you're still in the eur/gbp trade as I am...this will sort the men out from the boys as Concept has it as a loss as I suspected...I still havent moved my stop as I'm treating it as a trade so have a stop just above daily high...actually works out as half trade in relation to risk as was entered at 0.8115 with Capital Spreads...
Click to expand...

Sean can you clarify something for me? You entered this trade into your account as per Concept's indication? And you're still in as you use a different SBC to me? IE my choice of SB company has potentially cost me £200? :mad:

On IG the trade opened at 8090 @21:03 last night and by 23:14 it had stopped out at 8130. Where's the difference?

Phil
 
Hi Big Phil

...IG open trading ealier than Capital spreads...it can just as easily go against you as for you on this one...just one of those things...I got a sell at 0.8115...
 
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