Concept FX

[anddy26]

ok warts an all.....today the trigger price was hit for the first trade
FOREX DATE TRIGGERED SELL/BUY ENTRY STOPLOSS OBJECTIVE EXIT PIPS GAINED OR LOST

EURGBP 29/05/2008 sell 0.7880 0.7920 0.792 -0.0040

just as a thot..would the 'pro' traders have set their stop losses there and would they have taken the trade...

 

[IANLEE]

Stop loss was too tight. What is Concept's default stop loss for this pair Andy ? 40 strikes me as close for any pair. But what do I know ? Keep posting the trades if you can. This is interesting.

 

[anddy26]

their automated stop loss was 40...but i thought .7940 looked better,,but i said i will stick with it till i know better

 

[anddy26]

ok an update on concept fx..one of the alerts that was live has now been taken off as it didnt hit its entry then the market moved away from it...tonight we have 3 alerts pending when the entry is hit they will go live...now maybe the more experienced of you can see where this software coming from...look at the gbp/usd screen at 8.30 on the 3rd...can anyone 'guess' where the entry and stops would go?...i will post the trade when it expires..

 

[effem]

one of the alerts that was live has now been taken off as it didnt hit its entry then the market moved away from it...

Does that mean that the software told you to take a trade and now it backed out and told you not to ? Or is my skeptical mind reading stuff thats not there ???

Could you also tell me if the software tells you the bet sizes ? As in... i want to know if its involved in the money management part.

 

[GMP]

ok warts an all.....today the trigger price was hit for the first trade
FOREX DATE TRIGGERED SELL/BUY ENTRY STOPLOSS OBJECTIVE EXIT PIPS GAINED OR LOST

EURGBP 29/05/2008 sell 0.7880 0.7920 0.792 -0.0040

just as a thot..would the 'pro' traders have set their stop losses there and would they have taken the trade...

What time was this?

 

[anddy26]

EFFEM
the alert was posted on the software..then taken off as it didnt hit the target entry level..
the way we know this is....there are only 6 FOREX they trade....so its a screen of the 6 pairs...if there is no alerts on, the pairs are set to white and u set a check box to none(no alerts)..if there is an alert pending and u havnt set ur alert to pending it glows green....
if how ever u set it to pending it turns blue...
blue indicates that u have ur alert screen the same as theres....green means the pair has an alert pending or open but u have not set ur screen to pending or open....red means..the trade is finished or taken off and u havnt set ur pair to 'none'

they dont tell u how much to put on but advise 5% of your bank....so they reckon you can have 20 bad trades on a run before getting wiped..but ur broker wont allow that due to slippage and margin.

GMP
that alert shown was on the 29th...we get the alerts updated every night at 8.30 gmt...last night 3 were pending and this morning one was triggered...one was 2 pips away from getting triggered and one is still 100 pips away

the one which was triggered is 40 pips to the good just now but the objective at the moment is 220 pips..this may run a cpl of days yet? or it might revers and get stopped out..

clear as mud?..lol

 

[effem]

CLEAR AS A SWAROVSKI CRYSTAL !!!

 

[GMP]

220 pips target? I'll be very interested to hear how these signals have performed in 6 months' time - good luck with it.

EFFEM
the alert was posted on the software..then taken off as it didnt hit the target entry level..
the way we know this is....there are only 6 FOREX they trade....so its a screen of the 6 pairs...if there is no alerts on, the pairs are set to white and u set a check box to none(no alerts)..if there is an alert pending and u havnt set ur alert to pending it glows green....
if how ever u set it to pending it turns blue...
blue indicates that u have ur alert screen the same as theres....green means the pair has an alert pending or open but u have not set ur screen to pending or open....red means..the trade is finished or taken off and u havnt set ur pair to 'none'

they dont tell u how much to put on but advise 5% of your bank....so they reckon you can have 20 bad trades on a run before getting wiped..but ur broker wont allow that due to slippage and margin.

GMP
that alert shown was on the 29th...we get the alerts updated every night at 8.30 gmt...last night 3 were pending and this morning one was triggered...one was 2 pips away from getting triggered and one is still 100 pips away

the one which was triggered is 40 pips to the good just now but the objective at the moment is 220 pips..this may run a cpl of days yet? or it might revers and get stopped out..

clear as mud?..lol

 

[IANLEE]

Andy - are you spread betting the signals or trading futures ? And which broker(s) do you use ?

 

[anddy26]

Andy - are you spread betting the signals or trading futures ? And which broker(s) do you use ?

Hi Ian
yes i am spread betting and with capital spreads..its one of the easist platforms ive seen..waiting for 220 pips is a killer for me..as i used to try and take 10pips while trying to scalp the ftse...BUT i said i would follow the system to my good or detrement..i know there are loads viewing who are dieing to say told you so...I might get an alert tonight saying close at 1.9XXX i dont know..this is the end of the first full week with it.

 

[andydoc1]

Hi andy - so I guess that trade is a short of cable with profit target of somewhere around 1.9440?

Andy

 

[IANLEE]

Hi Ian
yes i am spread betting and with capital spreads..its one of the easist platforms ive seen..waiting for 220 pips is a killer for me..as i used to try and take 10pips while trying to scalp the ftse...BUT i said i would follow the system to my good or detrement..i know there are loads viewing who are dieing to say told you so...I might get an alert tonight saying close at 1.9XXX i dont know..this is the end of the first full week with it.

Interesting you trade with CS given the negative vibes on this site about them. I have an account with them but have not loaded it yet.

As for Concept FX, I am not one of those waiting to say I told you so. I have an open mind about the system which is why I am following this thread. Like most traders/ would-be traders I am my own worst enemy, so a mechanical system is of appeal. As long as it works !

Ian

 

[anddy26]

Hi andy - so I guess that trade is a short of cable with profit target of somewhere around 1.9440?

Andy

I wont say just yet until the trade is finished..but i did notice people were tipping a long..some decent posts on trader dantes threads..all 240 odd pages of them...im going thru my apprenticeship now with his journal..i also have his up to date jouranl if any one wants it on a word document

 

[anddy26]

Hi Ian

i have not read or even looked into CS on here..what are the negative vibes??

 

[IANLEE]

Hi Ian

i have not read or even looked into CS on here..what are the negative vibes??

Hi andy,

Here are a couple of threads :

http://www.trade2win.com/boards/spread-betting/16595-capital-spreads.html

http://www.trade2win.com/boards/forex-brokers/29997-capital-spreads-wot-pile-xxxx.html

Your experience may be different. I think one's experience depends very much on time frames and time of placing a trade.

Ian

 

[anddy26]

Hi Ian
thanks for the links..read the first page of both and im afraid they dont worry me..ive used them for a over a year now and never had a problem, except when my account showed -14k..which was soon eradicated!..the guy with the RBS story..the suspended is as they thought some one was playing sill beggers..which appeared to be true!...the glitches the others talk about i have never experienced..and i used to put 20+ trades a day trying to scalp the ftse...and if u phone up and complain then ur account is debited...so as a user of them ive had no problems..but im sure u cant please every one all the time...ohh btw IMO i think they have the tightest spreads about during working hours

 

[jap]

Hi Ian
thanks for the links..read the first page of both and im afraid they dont worry me..ive used them for a over a year now and never had a problem, except when my account showed -14k..which was soon eradicated!..the guy with the RBS story..the suspended is as they thought some one was playing sill beggers..which appeared to be true!...the glitches the others talk about i have never experienced..and i used to put 20+ trades a day trying to scalp the ftse...and if u phone up and complain then ur account is debited...so as a user of them ive had no problems..but im sure u cant please every one all the time...ohh btw IMO i think they have the tightest spreads about during working hours

Hello anddy26,
What do you mean 'if you phone up and complain then your account is debited.'

 

[anddy26]

Hello anddy26,
What do you mean 'if you phone up and complain then your account is debited.'

i knew of a couple of guys who had a problem with fills last october and they complained and got the money back that they said they lost on the fill.........im assuming if it was their system that glitched they would have no qualms..but if its ur own pc that stalls then i doubt ud get any thing back..

 

[jap]

i knew of a couple of guys who had a problem with fills last october and they complained and got the money back that they said they lost on the fill.........im assuming if it was their system that glitched they would have no qualms..but if its ur own pc that stalls then i doubt ud get any thing back..

Thanks anddy26,
Now I understand, but I think you mean your a/c is credited if the mistake is from the spreadbetting co's side.

Anyway cheers and all the best.