avtarsaini
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Ouch
avtarsaini
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Bad week last week, all 3 trades lost.
EURJPY was stopped out last night (13485) at 11pm on City Index. Shame as it kissed the stop loss, then turned and is now running the right way. I'm sure city index couldnt just make the stop trigger, but it seems odd that didnt go any higher.
4 straight losses in a row now, hope we're not going back to the bad old days
EURJPY was stopped out last night (13485) at 11pm on City Index. Shame as it kissed the stop loss, then turned and is now running the right way. I'm sure city index couldnt just make the stop trigger, but it seems odd that didnt go any higher.
4 straight losses in a row now, hope we're not going back to the bad old days
I got stopped out on that trade as well. As someone else posted, bad week, specilly for me as I'm on a relatively small bank and the 4 losses wiped out the gaians I'd made this year. Oh well.
:whistling
teachers pet
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Servus, I believe there are deals to be had
I'm still in and didn't get stopped out, i use etrade. I'm keeping the target at 130.30 but adjusting the stop loss to lock in some profit.
Thanks. I did the same and locked in the profit. Stopped out now but with a healthy profit.
avtarsaini
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Servus
Suggest you hold for a couple of months and watch the board for a tally of results.
I bought last october, lost the bank by christmas so stopped. Restarted 3wks ago, 1 win and 4 losses since. Having said that, there seems to have been a winning streak from Jan till april which I wasnt part of. I guess I should have continued using concept to allow the fluctuations to level out. I dont think I'll be paying an annual renewal fee when its due.
There is a lot of wisdom on this board, esp from some of the senior guys. One thing I have learnt is that a black box system like this alows minimal learning, far better to learn the basics of trading and apply this yourself. Concept has really only taught me money management, an expensive way to learn. Sorry to be so glum. My balance is definetly negative with concept but that reflects my lack of continuity. Perhaps some of the chaps that have used it consistantly over the year would give you their overall balance (assuming they havent tweaked the system or added additional trades). I would still say that learning the basics of trading is what is best, lots of sits on the net to to do this. then use the £4k as your bank.
Last point - no need to rush. The markets not going anywhere, you can make money today the same as next month.
Suggest you hold for a couple of months and watch the board for a tally of results.
I bought last october, lost the bank by christmas so stopped. Restarted 3wks ago, 1 win and 4 losses since. Having said that, there seems to have been a winning streak from Jan till april which I wasnt part of. I guess I should have continued using concept to allow the fluctuations to level out. I dont think I'll be paying an annual renewal fee when its due.
There is a lot of wisdom on this board, esp from some of the senior guys. One thing I have learnt is that a black box system like this alows minimal learning, far better to learn the basics of trading and apply this yourself. Concept has really only taught me money management, an expensive way to learn. Sorry to be so glum. My balance is definetly negative with concept but that reflects my lack of continuity. Perhaps some of the chaps that have used it consistantly over the year would give you their overall balance (assuming they havent tweaked the system or added additional trades). I would still say that learning the basics of trading is what is best, lots of sits on the net to to do this. then use the £4k as your bank.
Last point - no need to rush. The markets not going anywhere, you can make money today the same as next month.
avtarsaini
Thanks for your time, and sorry to hear of your losses.
Its understandable not to throw more money at it and unfortunate that you then missed out on a winning run, I'm sure your luck will change though.
Thanks also for the advice, I take your point not to rush in, I think I'll also try and learn a bit more from the experienced guys on here.
Cheers
Servus
Thanks for your time, and sorry to hear of your losses.
Its understandable not to throw more money at it and unfortunate that you then missed out on a winning run, I'm sure your luck will change though.
Thanks also for the advice, I take your point not to rush in, I think I'll also try and learn a bit more from the experienced guys on here.
Cheers
Servus
stevespray
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3 losing trades all getting stopped out on Friday which lost me circa £4.5k Lucky for me the EURJPY didnt get stopped on Capital Spreads (came pretty close mind). Obviously I didnt know that Concept would show that the official trade got closed until I ran the update late last night. Once this showed as stopped I closed my open position for around a £2k profit which obviously means that the loss of Friday is almost halved. Lucky me!
Steve.
Steve.
Hi Sandy
Sorry to trouble you but have been tempted with Concept FX and have been trawling through this thread for opinions. Nothing I have read puts me off except that I bought into Tradewin last year and for my money got 2 recommendations (1 I tried and it lost, the other I missed). There has been nothing since!
I am just worried that Concept FX is run by the same team and once bitten twice shy.
Does Concept FX do what it says on its web site and anything else you can say that will reassure me that I am not throwing good money after bad?
As I said, sorry to trouble you and thanks in anticipation.
boxfox
You quote from I think my first post on this thread. Things have moved on a long way for me, but without Concept! Frankly I lost my confidence in it when results started to look a bit like the disastrous end game with Tradewin, which I had also used successfully but which eventually fell apart. Some on here implied I did not have the psychological strength to stay with Concept, but my decision to stop trading it was based on logic and judgement, neither of which can be perfect. I took up trading with robots instead, and for the interest of others on here I have posted my progress, which has very definitely been better than with Concept. But nothing is certain in this game, and I do not crow about being more successful now than I was with Concept. If you follow all my ramblings on this thread you will see me transition from very positive to very negative about Concept. I remain negative, notwithstanding some recent improvement in Concept's performance. If you want my distilled opinion, I would not ever again layout £2000 or £3000 or £4000 on something like Concept or Tradewin, not ever again. The robots I am now using typically involve a purchase price of £50 to £100 with 2 month no questions asked instant money back guarantee. In 2009 they have more or less produced twice the profit that Concept would have over the same period. I am not saying it has been easy, but more profit is more profit, and that is what I want. Of course there are many on the T2W threads who disparage robots, but that is because many robots (often called EAs) are appalling scams, and you have to be very circumspect if you want to travel the robot road.
I am about to post an update on my "robot story".
Robot trading update, just to provide a benchmark for Concept! My account is up 135% since 31 Dec 08.
A recap for newer readers who may be interested to know that I started with 4 robots on 1 Dec 08 and trading capital of £100 (one hundred). By lunchtime on 19 December that £100 had grown to £6400 (six thousand four hundred) with all trades closed! Not bad eh? In the next 24 hours however the account crashed back to around £1400 and would probably have been wiped out entirely if I had not intervened manually. It just happened that the trading conditions were ideal for those 4 robots in that period, but when the market changed so did the results, and how. So, a salutary lesson.
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
8 May Equity at £4542
15 May Equity at £4859
Struggled a bit in the first week of May, as the FAPT EA trading EURUSD was very uncharacteristic in producing net losses. I have started trading the USDCAD again with FAPT and it produced a very nice series of profits, which have more than made up the losses on EURUSD. It will be necessary to keep a close watch on FAPT I think, as the increased spread my broker is applying on EURCHF overnight could have a significant negative impact. Also this broker is the most popular for trading with FAPT and this is very likely to stress their system, if only because of volume.
As I mentioned before I have now started trading with the MegaDroid EA on the EURUSD and so far this month it has produced only winning trades. Of course "a day will come....."! It is quite selective as to when it opens trades, so some days opens none. My experience and the experience of others with this EA is such that I have decided to increase risk from the 5% I started at to 15%. The vendors suggest to risk between 10% and 20%. Watch this space!!!
A recap for newer readers who may be interested to know that I started with 4 robots on 1 Dec 08 and trading capital of £100 (one hundred). By lunchtime on 19 December that £100 had grown to £6400 (six thousand four hundred) with all trades closed! Not bad eh? In the next 24 hours however the account crashed back to around £1400 and would probably have been wiped out entirely if I had not intervened manually. It just happened that the trading conditions were ideal for those 4 robots in that period, but when the market changed so did the results, and how. So, a salutary lesson.
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
8 May Equity at £4542
15 May Equity at £4859
Struggled a bit in the first week of May, as the FAPT EA trading EURUSD was very uncharacteristic in producing net losses. I have started trading the USDCAD again with FAPT and it produced a very nice series of profits, which have more than made up the losses on EURUSD. It will be necessary to keep a close watch on FAPT I think, as the increased spread my broker is applying on EURCHF overnight could have a significant negative impact. Also this broker is the most popular for trading with FAPT and this is very likely to stress their system, if only because of volume.
As I mentioned before I have now started trading with the MegaDroid EA on the EURUSD and so far this month it has produced only winning trades. Of course "a day will come....."! It is quite selective as to when it opens trades, so some days opens none. My experience and the experience of others with this EA is such that I have decided to increase risk from the 5% I started at to 15%. The vendors suggest to risk between 10% and 20%. Watch this space!!!
Just a point to add re my robot trading. Someone on here said FAPT is only profitable if you know enough to tweek the settings, and you can't just trade it out of the box. In fact I do just trade all robots, including FAPT, out of the box, as I have more confidence in the defaults set by the authors than in any half baked ideas of my own! The only thing I am really selective about is which pairs to trade on FAPT.
Pip Chaser
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Hi Sandy
i see you are using FAPT and Megadroid, what others have you tested, sorry if this has been covered but i am too lazy to trawl through all the posts
, have you ever thought of trying a managed account ?David
..........i see you are using FAPT and Megadroid, what others have you tested, sorry if this has been covered but i am too lazy to trawl through all the posts
Hi David,
The 4 robots I started with were FAPTurbo (Scalper mode only), Roboteer, EA Shark, and Steinitz HAS MTF. Of these I now only trade FAPT, the others were too dependant on the trend, and could not cope with a sudden reversal. I did try Roboteer again, but it just destroyed my February results. I have briefly tried a few others and quickly got refunds. You know, I cannot off the top of my head even remember which they were!! One was called Piptronic I think.
I would add that robot trading has its own stresses and strains, and you do have to gain confidence in those you use. You can only get that by live trading in small lot sizes. Demo trading can be seriously misleading, and in my view should be used solely to get familiar with setting up the robot. You can never be complacent as there are so many changing factors affecting results. But at least I don't have to watch the screen, fight my fear/greed demons and pull the trigger personally on every trade! The two robots currently running only trade at night when I am asleep, and most mornings I wake to success, but not always! So it is "set and forget" and that is a theme which appeals to most Concept users I believe.
Managed accounts crossed my mind, that's all.
