Concept FX

You seem as though you have been through the mill and back in the world of trading, well join my club, although unlike a lot of experienced traders like to believe i havent been looking for the holy grail, i have just been facinated by the concept, but i really do not have the right mind set to trade free hand, too many rushes of blood and treating trading like a horse race.
I did trade with FAPT on a demo account for a while but my computer crashed and i bought a new one so i just left it and never got back into it.
Maybe i will re-instate it and give it a go on a live account.
Currently i am on a managed account since October which probably is the best way forward for me at the moment, but i am still interested in running an EA.
I would be keen to keep in touch and see how things pan out.

David
 
morritt said:
I wonder if EUR/USD will retract now it's just gone over the stop (n)

Shame I decided to start trading conceptfx 5 trades ago :(
Click to expand...

I joined last august and they had a run of 11 losses. Concept shows a win on the 4-11 but iirc my trade stopped out.

Their results on the site are generally correct though.

Phil
 
Robot trading update, just to provide a benchmark for Concept users! I cannot see any trades on the Concept results web page since 24 Apr. Bit naughty, hiding the recent losses as usual to help the sales along! I see they are selling at £3000, when many of us bought at £2000 last year.

My live account is now up 147% since 31 Dec 08. I am currently trading two EAs: FAPTurbo and MegaDroid. It looks as if a more or less steady growth on account of 4% a week compound is sustainable. But of course "you never know".

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19 Dec £100 withdrawn.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
22 May Equity at £5113

Not a bad week, and would have been brilliant if MegaDroid (trading only EURUSD) had not produced its first loss for me, which was biggish, but not a full loss thank goodness. Had to come one day, but rather sad it did so just as I threbled my trade size! It virtually wiped out the EURCHF profit for the week on FAPT. USDCAD on FAPT kept things on track making £287.

So MegaDroid is now showing an overall loss, but accumulated "pips" are still in profit, and I will keep it running at 15% risk. Pushing it, I know.

I am running a test of an EA called Euro-Blaster at minimum lot size on a separate live forex account. It just trades EURUSD. Too early to comment.
 
SandyW said:
Robot trading update, just to provide a benchmark for Concept users! I cannot see any trades on the Concept results web page since 24 Apr. Bit naughty, hiding the recent losses as usual to help the sales along! I see they are selling at £3000, when many of us bought at £2000 last year..
Click to expand...

I bought at @ £3995, which given the added losses makes me a real mug. :cry:

I agree Sandy that Concept is less than hoest regarding the posting of losses on their site. At least as far as timing goes.

Another thing is that for a few weeks the signals came thick and fast and since the run of 5 losses not one signal. :sleep:

Stupidly I actually HAVE fapt but have never set it up as opening an account is a bit of a palaver for me living overseas. I know you're also overseas, who do you trade with?

P
 
!

bigphil22 said:
I agree Sandy that Concept is less than hoest regarding the posting of losses on their site. At least as far as timing goes.

Another thing is that for a few weeks the signals came thick and fast and since the run of 5 losses not one signal. :sleep:


P
Click to expand...

Do you suspect the software's taken fright? Perhaps the server is one of those new experimental bionic computers, programmed to include human emotions.... LOL
Only joking
 
Hi foks, i have old fap turbo, but i dont have a fap Turbo scalping mod,can you someone post the fap turbo scalping mode ??

All best
Petar
 
I still cannot see any trades on the Concept results web page since 24 Apr. So how are you guys doing?

My live forex account is now up 163% since 31 Dec 08. I am currently trading two EAs: FAPTurbo and MegaDroid. It still looks as if a more or less steady growth on account of 4% a week compound is sustainable. But of course "you never know".

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
22 May Equity at £5113
29 May Equity at £5441

Another steady week with FAPTurbo, and MegaDroid has made up some of its big loss last week.

I am still running a test of an EA called Euro-Blaster at minimum lot size on a separate live forex account. It just trades EURUSD. Looks good so far, making 4% on account this week. I briefly tested another EA, Forex Crusher: doesn't even function correctly, let alone make a profit, and there is no support. So I'm in for a refund.

Still keen to try and diversify with more robots and maybe add another broker. Because both FAPT and MegaDroid are scalpers they are very sensitive to price quotes etc. For example average profit/loss on FAPT EURUSD trades is around 2 pips. It used to be 6 pips back in December, so there is not much scope for profit if the numbers degrade much more. I have increased risk to keep the money coming in, but any more risk would be unwise.
 
Last edited:
Hi, I's wondering if anyone knows about the Trading Workshop run by John Burtlett, in Somerset (LearnTrading UK)? Cheers.
 
naivetrader said:
Hi, I's wondering if anyone knows about the Trading Workshop run by John Burtlett, in Somerset (LearnTrading UK)? Cheers.
Click to expand...
The topic of this thread is ConceptFX. As you may have guessed, this is because it is about ConceptFX. Therefore your question is unlikely to be found or answered.

It would be better to start a new thread called for example "John Burtlett Trading Workshop". But before you do that, have you done any homework at all? I would think John Burtlett knows a bit about his trading workshop? Have you spoken to him? Has he said anything you would like to discuss with others before you proceed?

In that case a forum like this might be useful. The more specific questions you have, the more likely you are to get answers. Also think about what you'd like to achieve by attending a course. Even if somebody really recommended this workshop it might be totally unsuitable for you.

Willy
 
SteveSpray or Anddy26 are you still using Concept FX, just been talking to Juren today about taking out the program
 
Last edited:
Don't buy concept - don't get sucked in by the marketing hype

captain_morgan said:
....... just been talking to Juren today about taking out the program
Click to expand...

I was a user and ditched it. But of course there is no refund. Don't buy Concept. You will certainly regret it if you do, and not even make the money you spend on it. Just look at the results since last July! No growth at all. And the recent losing trades are not being shown on the Concept website! There are better ways to trade forex in a "set and forget" mode.

Try using robots. They usually cost under £100 and give a quick refund, no questions asked. You could well grow the £3000 you would have spent on Concept into £20,000 within a year.
 
Phil, thanx for getting back in touch with me, why do you say that dont buy it, could you give me the reasons as to why not please??
 
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
 
captain_morgan said:
Phil, thanx for getting back in touch with me, why do you say that dont buy it, could you give me the reasons as to why not please??
Click to expand...

Well Sandy said it all.

The main reason is that I have not made any money on it. They are slow to post losing trades, especially if several come at once and the initial purchase price is very high.

If Concept posted daily/weekly trading results from a live account, as a number of the robot sellers do, then I believe you wouldn't even be interested.

I have JUST opened my account in my browser and one of the trades that was pending last night has opened and stopped out since I entered it.

Here's the last 30 days of my account with Concept:

DEAL 03/06/09 CZARMUAB - 03-JUN-09 13773 £ +0.75 13650 -92.25
DEAL 29/05/09 GTUN2Q Spot FX GBP/USD 29-MAY-09 15947.42 £ -0.60 16060 -67.55
DEAL 28/05/09 GTTH7K Spot FX GBP/USD 28-MAY-09 16040.87 £ -0.60 15948.5 55.42
DEAL 27/05/09 CXM2CWAL Spot FX GBP/USD 27-MAY-09 16067 £ -0.60 16041.95 15.03
DEAL 18/05/09 CVKT87AM Spot FX GBP/USD 19-MAY-09 15343 £ +1 15344.2 1.20
DEAL 18/05/09 GTM4D5 Spot FX EUR/USD 19-MAY-09 13533.11 £ -1.18 13552 -22.29
DEAL 18/05/09 2PTBU7 Spot FX EUR/USD 18-MAY-09 13473.56 £ -1.18 13533.95 -71.26
DEAL 15/05/09 CU69LGAF Spot FX EUR/USD 15-MAY-09 13467 £ -1.18 13474.6 -8.97
DEAL 10/05/09 2PNT73 Spot FX EUR/JPY 11-MAY-09 13398.46 £ -0.83 13485 -71.83
DEAL 08/05/09 CS9LEJAS Spot FX EUR/JPY 08-MAY-09 13362 £ -0.83 13401.15 -32.50
DEAL 08/05/09 CTC8X3AS - 08-MAY-09 13537 £ -1.18 13625 -103.84
DEAL 08/05/09 CS4AM3AS Spot FX GBP/USD 08-MAY-09 15037 £ -0.67 15190 -102.51
DEAL 08/05/09 CS976WAS - 08-MAY-09

On the 8th of May my account was at £2334 its now at £1720. -26%

My opening balance was £4000 allowing for a £600 mistake by me my overall loss is £1680

Work it out for yourself.
 
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