Concept FX

[SandyW]

SandyW, can you give me more information on robots please as this is all new to me and would like to know how roberts would work

That is a big question! Basically you load a trading platform on your internet enabled PC, and then load one or more plug-ins of your choice (which I called robots, but which are commonly called EAs, meaning expert advisers). You also need to have a trading account with a forex broker who is compatible with your platform.

For ease of reference: I suggest Alpari(UK)Ltd as broker, who use a very popular platform called MT4 which you get free as a download. You do not have to pay for data. As I have mentioned in earlier posts on this thread, I am using 2 robots at present: FAPTurbo and Megadroid, both of which can be bought instantly via Clickbank. I am also testing ForexDerivative and Euro-Blaster. My trading account stood at £2070 at new year and today stands at £5606. I am averaging account growth of 4% a week.

Of course you should trawl the web with Google (!), but do not get sucked in by any forex EA scams, as there are hundreds. The very best forum I know is at donnaforex.com Of course there are numerous threads to see here on T2W, but they usually fill up with nonsense. Donna is very focussed, and very helpful.

You have a lot to learn you will find. I don't know your trading background, but no trading is easy and, however you approach it, there are psychological forces that can screw you. I am not a guru by any stretch of anyone's imagination, and only try to set you on the path. Do not rush in.

 

[captain_morgan]

Phil

The way I was told was the you get a alert around 8.30om and that tell you what to do, so therefore you need to transfer that data to the broker the same day really , and as long as you keep transferring the data the same day you cant go wrong.

Also he offered it to me at 2500 plus free updated for 1 year.

 

[captain_morgan]

Sandy

thank for getting bak to me, i havent got no trading background thats why was looking at this kind of thing to get me a second income.

 

[bigphil22]

Phil

The way I was told was the you get a alert around 8.30om and that tell you what to do, so therefore you need to transfer that data to the broker the same day really , and as long as you keep transferring the data the same day you cant go wrong.

Also he offered it to me at 2500 plus free updated for 1 year.

I know how it works. Perhaps I was unclear in my post. Concept signalled a trade last night at 20:30 a buy on EURJPY, I placed the trade at 20:32. The trade triggered at 07:46 and stopped out at 10:15 this morning.

Regardless. I have only made a loss on Concept since I have bought it. I can't speak for the other posters here.

Phil

 

[captain_morgan]

So Phil

With regards to your trade last night, so you placed it, but what was the buy price and close price, did it actually raise to your buy price or not??

Simon

 

[captain_morgan]

Sandy

I have just had an email about Forex MegadDroid, is that same as concept fx as only 89dollors.

Also I assume this is about USA but will it work over here??

Simon

 

[SandyW]

Sandy

I have just had an email about Forex MegadDroid, is that same as concept fx as only 89dollors.

Also I assume this is about USA but will it work over here??

Simon

Yes MegaDroid works on the MT4 platform in UK. It works in a completely different way to ConceptFX. The system opens and closes trades for you completely automatically.

Concept is very easy to use. But it will not make money for you. You will waste money buying it. Many people bought for £4000, many including myself bought for £2000. It is a waste of money at any price. Everyone gets "free data", that is nothing special. When they say "data" they just mean the signals, it is not real market data. If you can find someone on this thread who is pleased with ConceptFX I will be very surprised. I think most people who bought have only lost money and have stopped using it!

 

[captain_morgan]

Sandy

So to use MegaDriod, what broker is best to use for forex

Simon

 

[SandyW]

Sandy

So to use MegaDriod, what broker is best to use for forex

Simon

Go to Alpari (UK) Ltd at Forex trading with Alpari. Real time foreign exchange trading services. Free forex news, forex charts, analysis..

Download and install MT4. Take it from there.

I cannot offer you more advice on this thread.

 

[captain_morgan]

no way of having your email add then??

 

[bigphil22]

So Phil

With regards to your trade last night, so you placed it, but what was the buy price and close price, did it actually raise to your buy price or not??

Simon

Well yes, it triggered, reversed and stopped out. As I said. Look at my figures in the post above they tell their own story.

 

[Scanjet]

Just out of interest, are Concept asking their current members for large sums to renew their membership and keep the signals coming? Or, have they done the sensible and prudent thing and offered them a 12 month holiday to demonstrate the integrity of their system?
If they are sending out demands are you meeting them?

 

[bigphil22]

Just out of interest, are Concept asking their current members for large sums to renew their membership and keep the signals coming? Or, have they done the sensible and prudent thing and offered them a 12 month holiday to demonstrate the integrity of their system?
If they are sending out demands are you meeting them?

Interesting question. I haven't had a mail from them but then I only started with them in August 08. I won't be renewing.

 

[SandyW]

At last! An update of the Concept results on their site. They waited for at least a cosmetic win before posting 5 full losses in a row which knocked 18%+ off the account. The account is up around 14% since new year, which is some small relief I guess.

As for the trading signals (Concept call it "data" LOL) renewal issue, I raised this on here many moons ago. Even assuming you viewed the money you paid for the system as capital (it's not, it's just what you pay for the first year's trading signals), that capital instantly depreciates 100% on the renewal date if you don't renew. These people know some psychological tricks! I really really hope no one else buys this very deceptive product.

My live forex account is now up 178% since 31 Dec 08. I am currently trading it with two EAs: FAPTurbo and MegaDroid.

2008
1 Dec Starting Capital £100
19 Dec £100 withdrawn.
31 Dec Equity at £2,070

2009
30 Jan Equity at £3,248
27 Feb Equity at £2,953
27 Mar Equity at £3,698
30 Apr Equity at £4,576
29 May Equity at £5441
5 Jun Equity at £5746

Another steady week with FAPTurbo, and MegaDroid has made up some more of its big loss two weeks ago. MegaDroid is well in profit if you count pips, but readers may remember that I hugely increased trade size just before a rare loss, which set me back in money.

On a separate live account, I am still running a test of an EA called Euro-Blaster at minimum lot size. It just trades EURUSD. Looks good so far, but it's far too early to feel really confident of it for the long term. I briefly tested yet another EA, Forex Derivative: some people think this has potential, but it needs significant development, and quite obviously came to market prematurely. I got a refund.

 

[bigphil22]

At last! An update of the Concept results on their site. They waited for at least a cosmetic win before posting 5 full losses in a row which knocked 18%+ off the account. The account is up around 14% since new year, which is some small relief I guess.

Mine isn't, not even close. And I use concept...

 

[Mitch1]

FAPTurbo & MegaDroid

At last! An update of the Concept results on their site. They waited for at least a cosmetic win before posting 5 full losses in a row which knocked 18%+ off the account. The account is up around 14% since new year, which is some small relief I guess.

As for the trading signals (Concept call it "data" LOL) renewal issue, I raised this on here many moons ago. Even assuming you viewed the money you paid for the system as capital (it's not, it's just what you pay for the first year's trading signals), that capital instantly depreciates 100% on the renewal date if you don't renew. These people know some psychological tricks! I really really hope no one else buys this very deceptive product.

My live forex account is now up 178% since 31 Dec 08. I am currently trading it with two EAs: FAPTurbo and MegaDroid.

2008
1 Dec Starting Capital £100
19 Dec £100 withdrawn.
31 Dec Equity at £2,070

2009
30 Jan Equity at £3,248
27 Feb Equity at £2,953
27 Mar Equity at £3,698
30 Apr Equity at £4,576
29 May Equity at £5441
5 Jun Equity at £5746

Another steady week with FAPTurbo, and MegaDroid has made up some more of its big loss two weeks ago. MegaDroid is well in profit if you count pips, but readers may remember that I hugely increased trade size just before a rare loss, which set me back in money.

On a separate live account, I am still running a test of an EA called Euro-Blaster at minimum lot size. It just trades EURUSD. Looks good so far, but it's far too early to feel really confident of it for the long term. I briefly tested yet another EA, Forex Derivative: some people think this has potential, but it needs significant development, and quite obviously came to market prematurely. I got a refund.

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SANDYW

As a novice thinking purchasing both FAPTurbo &/OR MegaDroid would you recommend purchasing only directly from product sites. I see some affiliates are offering discounts and their settings with purchase. Of the two products would you recommend any particular one for a relative newbie to the forex market.

With so many conflicting reveiws of both these products, it's easy to think everyone is out to scam you.

Any advice would be welcome - With thanks!

 

[SandyW]

Any advice would be welcome - With thanks!

Hi Mitch,

You never know how the future will pan out, but from my experience and that of others I do believe FAPT offers you the prospect of steady account growth. I have traded it pretty steadily since 1 Dec, and at that time was a forex newbie (and seriously disillusioned Concept ex-user and a trading failure of a magnitude that is embarrassing to recall) .

With FAPT I have mostly traded EURCHF, but it is noticable that profitability has fallen back progressively over the 6 months, with no clear reason that I can discern. You cannot just load it up any old how and forget it, but using the Scalper mode on default settings and with a fixed lot size (say 0.01 to start with, and trading EURCHF and USDCAD) you probably won't go far wrong. Try it on demo first, for at least a week or two so that you can get familiar with how it works. It only trades Mon, Tue, Wed and Thu nights.

It is still quite early days for me with MegaDroid, but I have a lot of confidence in it. It's not unlike FAPT. I think it may be a good idea for you to use it alongside FAPT.

One thing I will say is that you really need a VPS to trade these EAs. ForexVPS | Forex VPS Hosting is excellent and their support is first rate.

I suggest you buy with or without an affiliate. In fact you may find cookies cause you to buy through an affiliate without you being aware(?). You can't go wrong by buying through donnaforex.com. I only "discovered" Donna recently, long after I became successful with FAPT. She is very involved with FAPT and very well respected, but she is not a formal member of the FAPT team. She also gives you some cashback if you use her link to buy. Actually it is more important to get the EA working well and making money than worrying about cashback, but every little helps eh. Her forum, generally devoted to trading with MT4 EAs and not solely to FAPT, is refreshingly useful and clean.

I am just another retail trader, and have no associations with any sites I mention, except that I use them! Rather than clutter up this thread PM me if you want.

 

[jangroom]

Concept FX Scam

Important info for all Concept FX users.

Most of the original users of Concept and followers of this thread will know the history and origins of Concept. It is a second product offering from Tradewin.Co.Uk and was released when their original TradeWin software failed due to the volitile trading conditions brought about by the financial crisis. The original TradeWin product was suspended under the pretext that it was being rewritten and a new release was imminent the members website was last updated on the 29th Jan 09 stating work was nearing completion and a release date was imminent. Both the public and members websites have now been closed and the parent company TradeWin Publications has been disolved with no significent financial assets. Application to disolve the company was submitted in Nov 2008 when TradeWin was still porporting to be developing a new product, this pretence was done in order to buy time and head off any possible financial compensation claims and transfer out the remaining company assets.

Concept FX has been marketed as a seperate company in order to ring fence it from TradeWin however it is just another trading business run by the same directors.

This is nothing more than another scam based on the compilation of a few technical indicators to bring in a subscription revenue. A run of bad results and the company will morph into another business. The few trading sucesses it has had are nothing more than most of us could achieve or better with a good EA and some experience at a fraction of the cost.

Do not risk purchasing a new or renewing your subscription when due.

Simon

 

[pseudo straddle]

Hi Mitch,

Rather than clutter up this thread PM me if you want.

or Sandy, why not start your own thread [ diary, journal ] of your progress and discoveries in the fascinating world of trading robots?

 

[Mitch1]

Pm?

Hi Sandy,

Appreciate you taking the time to respond. I have definately decided to purchase both these products, I was just worried purchasing both together may have be too much for a newbie. I had initially purchased TUFXP but unfortunately I can't find the time to devote to this to make it work for me and will try and sell it on.

Thanks!