Concept FX

Sandy ( and anyone else reading this thread)

I have read most of your comments over the last few months, and am really glad that you have found a way to trade. Like you, I initially was looking for a system to make my decisions for me and spent hours trawling sites like this and clicking on links to the "holy grail. I realised that educating myself to do this was the only way, but I had read countless threads where most people lost their starting banks over and over untl they either gave up or found their strategy. I came accross a trading journal on tis site called "it's all about the pips". I won't bore you with all the details as if you are intersted, you will find it, but a guy and some trading collegues have basically set up a live room, where a couple of dozen of us log into, share any views, but most importantly, get educated by guys trading for a living. There is a cost of course, but I view this as a business now and the monthly cost is my overhead. Instead of losing all my money whilst trying to figure things out by myself, I spend a fraction of my available money and use it wisely, educating myself in following a set strategy that works. My trading is progressing, and I get more confident every day. I've been in this for 2 months now - the strange thing is I thought I had it all figured out after week 2, gaining pips all over the place. Then a few weeks of disasterous trades, mostly going against what I'd learnt, brought me down to earth with a bump. I think these guys offer a free trial so people can get a grasp of what they are trying to do. Have a look!

Forex Trading, Live Forex Education, Currency Trading, FX Opportunity

Martin
 
Guys,

Nice to have all your responses! And I much appreciate your suggestions and encouragement. In the end I would love to be a competent hands-on trader! But there is still a long way to go. The problem is sticking with a system, and also finding what pair it trades successfully.

I have always thought FX53 was good, although I don't use it - my fear is the draw downs. You know you don't really need FX53 once you understand how it works! You just need a trend following system which gives precise trend change signals, like fractals, or even the Sniper arrows! Sniper and such like trend following systems are potentially profitable in themselves obviously, but I found that using them meant I was always "on edge" following the market, and the entries and exits are rather fuzzy. I tried trading the Fractal breakout-outs alone (rather similar to FX53 actually), and in combination with Alligator, but being undercapitalised I found a series of losing trades unmanageable, and lost the will to go on following the signals. And so on and so on. I tried to get the fractal break-out system coded for MT4, but the guy said it is impossible. I don't believe him, but do not have the coding skills for DIY. The system I am now having coded is essentially a stop and reverse system, although more complex with scaled exits. It uses only one indicator, the Supertrend. It is a truly excellent indicator for stop levels, but can just as easily be used for an SAR strategy. The key is to make sure you don't get whipsawed, as with any trend following system. But what I like about it is you can adjust the parameters to suit the pair and timeframe, and it gives absolutely precise entry signals. I have traded it manually and I know it works, but as I have said many times my psychology is rubbish!

As for the commercial EAs, I really do think EAs are the way to go in forex. The problem is very simply in finding those that are profitable and that are routinely optimisable to the current martket. I have only traded EAs live for the one week, as I said, but the results are extremely encouraging. People who got into Concept because they wanted no pain, or because they do not have time to trade, should explore this route. I think I may have mentioned this before, but my EAs are actually set up on a remote server at ForexVPS | Forex VPS Hosting. This means I do not need to have my PC running 24/7 and I am not vulnerable to any internet interuption. Furthermore I am not tied down personally, and the systems just keep trading as I travel about, fly overseas or whatever.

Getting away from forex for a moment, I have noticed that if you were using the fractal break-out system trading Oil on the Daily chart, and only taking the signals when the bar closes over the fractal level (not when it touches it), you would have gone short at around the $140 level and still be in the trade today!! Even at £1pp, that is £10k in the bank! Oh well.

Peter, are you using the bar close in your forex fractal strategy?
 
SandyW said:
Guys,

Nice to have all your responses! And I much appreciate your suggestions and encouragement. In the end I would love to be a competent hands-on trader! But there is still a long way to go. The problem is sticking with a system, and also finding what pair it trades successfully.

Getting away from forex for a moment, I have noticed that if you were using the fractal break-out system trading Oil on the Daily chart, and only taking the signals when the bar closes over the fractal level (not when it touches it), you would have gone short at around the $140 level and still be in the trade today!! Even at £1pp, that is £10k in the bank! Oh well.

Peter, are you using the bar close in your forex fractal strategy?
Click to expand...

No I'm using it where it breaks the fractal. I open a pending order, and check it everyday to make sure it's going to break above the alligator for long and below for short. That is how I understood it in the book. Did you find it better entering it manually at the close? At the moment I have USD/CHF going long, because it broke the fractal on the daily chart. BUT! I didn't get in on the close I got in just below the high of the bar. Which is only -20pips, but I'm thinking it could have been more with the ranges displayed recently.
 
pvisser said:
No I'm using it where it breaks the fractal. I open a pending order, and check it everyday to make sure it's going to break above the alligator for long and below for short. That is how I understood it in the book. Did you find it better entering it manually at the close? At the moment I have USD/CHF going long, because it broke the fractal on the daily chart. BUT! I didn't get in on the close I got in just below the high of the bar. Which is only -20pips, but I'm thinking it could have been more with the ranges displayed recently.
Click to expand...

Yes, I too just set a pending order to open just above/below the fractal level. And of course use the Alligator red line as a filter, as per the book. But at the moment I have suspended manual trading!

You may be interested in a Fractal Trading EA I found at MT4Free > MQL Files > Expert Advisors
It is called Fractal.mq4 I have just loaded it on my demo account 15 min charts of GBPJPY and EURUSD to see how it does when trading resumes after the weekend.
 
bigphil22 said:
Well?

Phil
Click to expand...

No I haven't because I think it may go the whole way. There seems to be a minor resistance level a couple of hundred pips above the take profit so I think it might reach this before it turns. This is only what I think though. I could be wrong.
 
pvisser said:
No I haven't because I think it may go the whole way. There seems to be a minor resistance level a couple of hundred pips above the take profit so I think it might reach this before it turns. This is only what I think though. I could be wrong.
Click to expand...

I took some and went back in and it's looking good, about 40 pips below the target.

Phil
 
bigphil22 said:
I took some and went back in and it's looking good, about 40 pips below the target.

Phil
Click to expand...

If you re-enter the trade doesn't that mean you just risk the same amount again? or do you half your position? I took profit just a few minutes ago, halving the amount. I moved my stoploss so that I cant lose out on that trade. I also moved my take profit below the minor resistance line. We'll see how it works out.
 
Success at Last? An update

Hi Guys,

I continue to post on here because friends are here, and we all started with the idea that we just needed a set and forget trading method, either because we are busy people or, as in my case, rubbish traders. Although I have long ago ditched Concept, I feel for you guys. Or as Gordon Brown would say "I feel your pain!". I am trying to encourage you not to continue fixating on ruddy Concept! It is not good for you. Like all gamblers you think that if you just stick at it you will recover your losses and go on to get rich.

So, if you are not yawning too much, an update on my progress with EAs. In fact I have been wondering whether to post my news as it is so outrageous. But here goes for the sake of truth and honesty.

As friends will remember I started with £100 on 1 Dec, and ended the week with £207, and thought I had done pretty well. Maybe just luck I thought, been there before! But still determined to be the new me, getting rich slowly.

So I kept the EAs going on my live forex account, and in fact added another EA, called Steinitz bla bla or something. I increased my exposure a bit, not too much, to make use of the growing trading fund (as you do).

Wait for it..........

My account, after just two weeks has grown to £1085. No not a typo, and I can do sums, especially where real money is involved.

Never again will I tolerate all the rubbish I read on T2W about how EAs or robots are all scams, or that real men trade hands on. I will not start a new thread because all the usual types would mouth off!

I wonder what next week will bring. I have no idea, but I do seem to have 4 EAs that all make decent money, and I have not yet had a losing day.
 
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SandyW said:
Hi Guys,

I continue to post on here because friends are here, and we all started with the idea that we just needed a set and forget trading method, either because we are busy people or, as in my case, rubbish traders. Although I have long ago ditched Concept, I feel for you guys. Or as Gordon Brown would say "I feel your pain!". I am trying to encourage you not to continue fixating on ruddy Concept! It is not good for you. Like all gamblers you think that if you just stick at it you will recover your losses and go on to get rich.

So, if you are not yawning too much, an update on my progress with EAs. In fact I have been wondering whether to post my news as it is so outrageous. But here goes for the sake of truth and honesty.

As friends will remember I started with £100 on 1 Dec, and ended the week with £207, and thought I had done pretty well. Maybe just luck I thought, been there before! But still determined to be the new me, getting rich slowly.

So I kept the EAs going on my live forex account, and in fact added another EA, called Steinitz bla bla or something. I increased my exposure a bit, not too much, to make use of the growing trading fund (as you do).

Wait for it..........

My account, after just two weeks has grown to £1085. No not a typo, and I can do sums, especially where real money is involved.

Never again will I tolerate all the rubbish I read on T2W about how EAs or robots are all scams, or that real men trade hands on. I will not start a new thread because all the usual types would mouth off!

I wonder what next week will bring. I have no idea, but I do seem to have 4 EAs that all make decent money, and I have not yet had a losing day.
Click to expand...

That is extremely good news Sandy well done. I think it would be difficult for you to lose now since that would be a 90% drawdown. Please keep us posted because I'm very interested in these EAs
Pete
 
bigphil22 said:
How much screen time did your gains require?

Phil
Click to expand...

Hi Phil, how's things?

I tried to make it clear but obviously didn't! The systems are totally automatic and demand no screen time. In fact some of the best trades have been overnight, because one particular robot trades the EURUSD and USDCAD and only at night, when the markets are not manic.

As you may remember I am retired and at home most of the time, so I do watch out of curiosity. I am actually letting the cat to do it for me, as cats are even more curious than me. So I do watch the screen, but it is genuinely only watching. In fact I had a day when my internet connection was down totally, and because I have the system set up on a VPS it just kept running, and when my connection returned there was a load more dosh in the bank!! I routinely just turn my PC off completely, because the system just keeps running. I have never had any drama.

So to answer your question, it needs a lot LESS time than the 10 mins ruddy Concept was supposed to require! And, if I remember rightly most Concept "members" spend 24/7 agonising! With this system I do sometimes lie awake counting my chickens, but never broken eggs; there are none to count. Win/Loss ratio is around 8:1, and risk/reward 1:1

Today, just notched up another 25% plus onto my account and going. I swear guv I never touched it. I have put on a few manual trades out of boredom, and guess what they were losers, so no more of that. It's getting embarrassing, so perhaps I should stop posting here! And I might if any more of the "scam knockers" join in, because they are talking through their arses, and prove my point when they use words like shyte!
 
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Interesting isn't it?

I just posted on a new thread in which a guy asks about the FAPTUrbo EA, and the administrators immediately close the thread!! There must be some very sick cynical minds running the forums!! It seems that they are very selective about the threads they permit. How does one get genuine good experience across?? Or is the aim to perpetuate all the silly trading quackery?
 
most people on here are probably not sympathetic because they are 'real' traders i.e. they have a passion for trading and hence do it themselves. there are other places online where people are talking about EA's - even one dedicated to forex autopilot if you care to look.
 
UKtradergirl said:
most people on here are probably not sympathetic because they are 'real' traders i.e. they have a passion for trading and hence do it themselves. there are other places online where people are talking about EA's - even one dedicated to forex autopilot if you care to look.
Click to expand...

Many people using ConceptFX or thinking of it may not be "real" traders in your terms. My whole purpose is to talk to friends who I have made on this thread, because as I said we share a similar desire. ConceptFX failed us. I have found a superb way of making money trading. It happens to be using EAs.

If you are as successful as a "real" trader as you imply, I congratulate you! Why not? I too have a passion for trading, and still have. Unfortunately for all the familiar reasons it has not worked out for me, but I have persevered. I think manual trading is extremely hazardous and 95% of traders would agree with me! Been there again and again and again. Now I feel confident about my income stream/capital growth. I also enjoy the "technological" challenge of the EAs, and I think they will make the money I want. Why knock that? And if you yourself are so keen on trading manually (and I take my hat off to you if you have say doubled your money every week or every month or even every year), you can obviously class yourself among the 5%. That is where I would like to be too. That is where ConceptFX users would like to be too. We are in this together, why the knocking???? Passion for trading, for some people turns into a gambling addiction, and they lose everything. You could lose everything with EAs if you were stupid. But you could also set up a totally effortless income stream! That is what this is about.

I started deliberately cautiously with £100 trading only micro-lots with the intention of just getting rich slowly, and not pushing my luck. I did not set out to raise my paltry £100 to the present figure of £1600 as at the time of writing, within two weeks. But that is what happened. No bitterness in me about that!!! I want to simply share the experience to encourage others. They can take it or leave it, can't they.

Edit: Balance now £1800. I am so "spazstick" I can't keep up. Is that the PC spelling of spastic?
 
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